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Transformative Trends Impacting the Multivitamin Capsules And Tablets Market Landscape: Growing Preference For Flavored Gummy Vitamins Drives Transformation In Multivitamin Capsules And Tablets Market
Multivitamin Capsules And Tablets Market
What Will the Multivitamin Capsules And Tablets Industry Market Size Be by 2025?
The market size for multivitamin capsules and tablets has seen significant growth in the past years. It's projected to rise from $28.49 billion in 2024 to $30.26 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. This growth throughout the historic period is due to several factors including heightened awareness of health, the expansion and growth of the pharmaceutical industry, an increase in dietary supplements, a rise in healthcare spending, and escalating health worries amid the COVID-19 pandemic.
What's the Long-Term Growth Forecast for the Multivitamin Capsules And Tablets Market Size Through 2029?
The market size of multivitamin capsules and tablets is projected to witness substantial growth in the upcoming years, reaching a valuation of $39.26 billion in 2029 with a compound annual growth rate (CAGR) of 6.7%. The growth anticipated during the forecast duration is a result of new product introductions, growing demand for sports-oriented nutritional supplements, and a rising population of elderly people. Key trends expected to shape the market during the forecast period include the launch of new products, increased use of sports-centric nutritional supplements, and the escalating number of senior citizens.
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What Are the Key Growth Drivers Fueling the Multivitamin Capsules And Tablets Market Expansion?
The multivitamin tablets and capsules market is witnessing growth due to the escalating health awareness among individuals. Doctors commonly recommend these multivitamins to combat or ward off vitamin deficiency that can occur as a result of inadequate diet, certain diseases, or pregnancy because they supply a variety of vitamins typically found in food and other organic sources. The COVID-19 pandemic has significantly elevated concerns about health, thus intensifying the demand for multivitamins. For example, as per the International Food Information Council's report in May 2022, a non-profit consumer research organization in the US, the number of Americans adopting specific diets and eating habits spiked by 52% from 2021 to 2022. As a result, the anticipation of heightened health mindfulness is predicted to propel the multivitamin capsules and tablets market throughout the projected timeframe.
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What Are the Key Trends Driving Multivitamin Capsules And Tablets Market Growth?
The multivitamin capsules and tablets market is being influenced by a shift in consumer attention towards flavored gummy vitamins suitable for all ages. The preference for more enjoyable and convenient supplement experiences is driving the surge towards flavorful gummy vitamins. For instance, in May 2023, the American company SmartyPants Vitamins introduced a new variety of gelatin-free multivitamin gummie*s at Walmart. The gummie*s, which are made from pectin sourced from citrus fruits and apples, cater to vegetarians and those avoiding gelatin due to dietary or religious preferences. The Kids & Toddler gummie*s offer less sugar than top rivals in the market, offering a healthier alternative.
How Is the Multivitamin Capsules And Tablets Market Segmented?
The multivitamin capsules and tablets market covered in this report is segmented -
1) By Type: Multivitamins Tablets, Multivitamins Capsules
2) By Distribution Channel: Store Based, Non-Store Based
3) By Application: Energy And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
4) By End User: Adults, Geriatric, Pregnant Women, Children, Infants
Subsegments:
1) By Multivitamins Tablets: Chewable Tablets, Effervescent Tablets, Coated Tablets, Standard Tablets
2) By Multivitamins Capsules: Softgel Capsules, Hard Capsules, Liquid-Filled Capsules
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Which Companies Are Leading the Charge in Multivitamin Capsules And Tablets Market Innovation?
Major companies operating in the multivitamin capsules and tablets market include Abbott Laboratories, Otsuka Holdings Co., Glaxosmithkline Plc, Bayer, Natures Bounty Co., Glanbia Plc, Nu Skin Entreprises, Arkopharma, Nutramarks, Nestle S.A, Usana Health Sciences Inc, Cipla Ltd, Lasons India Pvt. Ltd, VOOST, Berocca, Blackmores, Swisse, Nature's Way, Centrum, Cenovis, MuscleBlaze MB-Vite, HK Vitals, Rainbow Light, One A Day Men's Multivitamin, CSPS Pharmaceutical, Zhejiang NHU, G&G, Simply Supplements, Evolution Organics, Nutri-Link, BioCare, Naturex, Microphyt, Ynsect, Olygose, VTF, Solgar, Evalar, Biovea, Mcepharma, Terezia, Archer Daniels Midland Company, Herbalife Ltd, NBTY, Inc, Forever Living, Grupo Omnilife, Shaklee Corporation, American Health Inc, Atrium Innovations, Pfizer, Inc, NOW Foods, HealthVit, Nature Made, GNC Holdings, Inc, Merck KGaA, Ascendis Health, Inova Pharmaceuticals, Vital Health Foods, Vitabiotics Ltd, Adcock Ingram, SA Natural Products, Beauty Gen, BSN, Grenade, Nature's Nutrition, NPL, PharmaFreak.
Which Regions Are Leading the Global Multivitamin Capsules And Tablets Market in Revenue?
Asia-Pacific was the largest region in the multivitamin capsules and tablets market in 2024. North America was the second-largest market in the multivitamin capsules and tablets market. The regions covered in the multivitamin capsules and tablets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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