Vitamins Market Poised for Robust Growth, Opportunities and Forecast

The global vitamins market garnered $28.8 billion in 2021, and is estimated to generate $59.2 billion by 2031, manifesting a CAGR of 7.5% from 2021 to 2031.

Surge in spending on health supplements by consumers, growing health consciousness, and an increase in disposable income drive the global vitamins market. The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global vitamins market Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global vitamins market share.

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Vitamins are essential for body development and the proper functioning of the body. Change in the food habits of consumers, busy & hectic life schedules, rise in employment levels, and rise in awareness regarding the health benefits of consuming vitamin supplements are some of the prominent factors that are expected to boost the global vitamins market growth in the forthcoming future. The busy & hectic schedule does not allow consumers to maintain a proper diet, which leads to the deficiency of essential nutrients in the body. Therefore, the consumption of vitamin supplements is rising rapidly among consumers to fulfill their daily nutrients & vitamin intake.

Manufacturers are changing their product branding & advertising strategies to accelerate their sales across various countries. Innovative strategies such as new product launches with natural ingredients and innovative packaging have been adopted by manufacturing companies to increase sales of nutraceutical products. As vitamins have become an integral part of lives, consumers prefer to use such products that are handy while traveling or attending social meetings. The use of natural sources for manufacturing vitamin products such as vitamin supplements, which do not have any adverse effect on skin & other body parts is a popular strategy of manufacturers to attract more customers. ongoing vitamins market trends is expected to create opportunities for manufacturers in the upcoming years. Collectively, all these strategies adopted by manufacturers drive the vitamin market growth.

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The research provides detailed segmentation of the global vitamins market based on source, type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global vitamins market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.1% during the forecast period.

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Leading market players of the global vitamins market analyzed in the research include BROTHER ENTERPRISES HOLDING CO.,LTD, Zagro, Farbest Brands, Adisseo, Vitablend Nederland B.V., Vertellus, Glanbia PLC, Zhejiang Garden Bio-chemical High-tech Co., Ltd, Lonza, Archer Daniels Midland Company, BASF SE, Stern Wywiol Gruppe, Wright Enrichment Inc, Koninklijke DSM N.V., Jubilant Bhartia Group.

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