Multi Nutritional Supplement Market to Observe High Growth by 2024
Consumers around the world have become more aware about their health and diet. Since normal day to day food fails to meet the complete nutritional requirements of humans, the demand for nutritional supplements has significantly risen around the world. The growing popularity of nutritional supplement has led to an unprecedented growth of the market for the same. Various nutritional supplements available in the market nowadays are vitamin supplement, herbal supplement, mineral supplement, meal replacement supplement, and sports supplement.
However, due to changing lifestyle choices and hectic daily schedules, consumers are now preferring multi nutritional supplement to take care of their daily nutritional needs. For instance, athletes and sportsmen often demand vitamin calcium with probiotics or vitamin and mineral supplement. Hence, multi nutritional supplements are gaining popularity since they provide comprehensive nutritional benefits.
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Due to the rising disposable income and improved economic conditions, consumers are now willing to pay more for vitamin and other dietary supplements. Also instead of paying for several supplements to cater to their nutritional deficiencies, consumers prefer spending on multi-nutritional supplements with various nutritional properties.
These supplements are made available in the market through health stores, drug store, hypermarkets, and supermarkets. The prominent enterprises operating in the market often promote their brands through medical professionals. Many of these companies also promote their products through gym trainers and instructors. The social media has also emerged as an efficient medium of conveying marketing messages to potential consumers to create awareness. The market for multi nutritional supplement therefore is projected to continue experiencing robust growth in the forthcoming years.
Global Multi Nutritional Supplement Market: Key Segments
Based on consumers’ age, the market for multi nutritional supplement is segmented into women, pregnant women, adults, infants, and elderly persons. In terms of form, the market is classified into gel capsules, capsules, soft gels, liquids, powders, and tablets.
Regionally, the global multi nutritional supplement market is segmented into Asia Pacific excluding Japan, Latin America, North America, Western Europe, Eastern Europe, the Middle East and Africa, and Japan. The market also sees lucrative prospects in U.S and EU5.
Global Multi Nutritional Supplement Market: Key Trends and Opportunities
Multi nutritional supplement has emerged as one of the fastest growing segments in the nutritional supplement market. Multi nutritional supplements make a niche segment, which is driven by consumers suffering from under nutrition, apart from athletes and sportsmen. Urban lifestyle has become so hectic that people find less time or opportunity to fit in healthy and complete diet in their daily routine. This is one of the primary factors propelling the global multi nutritional supplement market.
Despite witnessing positive growth worldwide, the high price of multi nutritional supplements is a major factor restraining the market. Nevertheless, the market witnesses lucrative opportunities in developed regions such as Western Europe, North America, and Japan. Additionally Asia Pacific and Latin America also exhibit attractive prospects for the market. The rising disposable income of people living in the emerging nations of Latin America and Asia Pacific is a prime factor boosting growth opportunities for the multi nutritional market in the regions.
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Global Multi Nutritional Supplement Market: Key Vendors
To present a holistic report on the prevailing competition in the market, the report profiles companies such as Nature's Bounty, Inc., Amway, Puritan's Pride, Inc., Rexall Sundown, Inc., and others
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