Vitamin Supplements Market Analysis Report By Type, By Form, By Distribution Channel And Segment Forecasts From 2021 To 2028

Synopsis

The global vitamin supplements market was prized by USD 44.12 billion in 2020. It is estimated to witness 6.2% CAGR from 2021 to 2028.

Drivers

The increasing figure of fitness aware customers plus a rising inclination for vitamins in every day food & drink is projected to drive the market for vitamin supplements.

The customer consciousness about the connection among fitness and eating habits has augmented the demand for dietary supplements. The factors increasing awareness in these supplements consist of growing curiosity in accomplishing wellness by means of food intake, rising healthcare expenditures, and growing elderly inhabitants. Multivitamin supplements are extensively used up, particularly by sports athletes as well as working professionals.

Effect of Covid-19

The eruption of Covid-19 pandemic underlined the requirement for the vitamin eating. Vitamins are capable to increase immunity. This is one of the important factors of avoidance in contrast to Covid-19, because the persons having inadequate immunity are seen to be at elevated possibility for the infection. Consequently, the appearance of Covid-19 is expected to stimulate the ingestion of vitamin supplements.

Distribution Channel Insight

In 2020, the offline sector detained above 75.0% revenue share and directed the vitamin supplements market. The subdivision of hypermarkets/supermarkets in the offline sector acquired the major, above 40.0% revenue share, in 2020.

An independent shelf or section for wellness products in supermarkets and hypermarkets facilitate consumers to effortlessly spot their preferred product. This is a major factor pushing the expansion of the market.

The subdivision of hypermarkets/supermarkets is increasing grip in the market. The finely set and maintained products, thorough sentimental psychoanalysis of client, so as to know customer inclination regarding brand names as well as products along with their readiness to give best prices for particular products are the factors, expected to increase the enlargement of the hypermarkets/supermarkets subdivision, during the forecast period.

Type Insight

The multivitamin section held more than 40.0% revenue share and directed the global market, in 2020. Multivitamin supplements consist of a mixture of vitamins plus minerals and sometimes additional elements also. Like a total set of vitamins, the global demand for multivitamin supplements is rising.

In the course of eruption of Covid-19, augmented alertness of the clients about the significance of sufficient immunity has boosted the demand for immunity enhancing nutritional as well as food supplements. Sequentially, this is expected to increase the range of the multivitamin supplements section through the world, during the near future.

Form Insight

The tablets division held above 40.0% revenue share and directed the global market, in 2020, because globally the tablet variety of vitamins is extensively used up by the adults. Even if the usual covering gives superior closure, several additional factors decide the absorption on the source of excellence along with effectiveness. Every one of these factors is likely to impel the order for vitamin supplements within the form of tablets, during the forecast period.

Tablet form is single of the easiest method for vitamin supplement utilization. It can be use up on the basis of prescription in addition to non-prescription also. Tablets occur in every category of vitamins, and they are simple to gulp down.

On the other hand, vitamin gummies are projected to observe superior development during the forecast period. As a result of their extensive taste profile, along with smoothness, gummies are getting recognition between children and aged populace.

Capsule, soft gels and powder forms of vitamin supplements are likely to observe substantial expansion, during the forecast period. Likewise, capsule forms of vitamin supplements are the subsequent the majority utilized form of supplement in the world.

Regional Insight

In 2020, North America detained more than 30.0% revenue share and directed the global vitamin supplements market. The augmented disposable earnings, availability of a multiplicity of ready-to-eat and processed foodstuffs, lifestyle linked illnesses because of their growing unhealthful eating habits are the factors, increasing obesity in North American residents. Functional foods along with supplements have also changed in the 'transitioning face of food' because they offer a broad diversity of health benefits further than essential nourishment. Regarding this, the expenditure of products like improved nutritional as well as foods supplements like a part of the assorted food & drink on a usual base, can contain positive effects on fitness.

As a result of increasing knowledge about their benefits in physical maintenance plus in general physical condition,multivitamins appeared like a major section within the market of North America, for vitamin supplements. On account of these factors, in North America the intake of vitamin supplements is projected to augment.

Companies

To build up latest vitamin supplements, having dissimilar variety and taste, the main market contestants are gradually more providing funds for R&D actions. Besides, the companies are expected to set up their joint ventures together with e-commerce portals with the intention of to make sure the incessant delivery to consumers.

The major companies are concentrating on mergers & acquisitions of small & medium-sized vitamin supplement manufacturing companies to augment the availability of product and their existence in local market.

Some of the companies for vitamin supplements market are:

• American Health, Inc.
• NU SKIN
• Herbalife Nutrition
• NOW Foods
• Good Health New Zealand
• Amway Corp.
• Pfizer Inc.
• Pharmavite
• RBK Nutraceuticals Pty Ltd.
• Nature's Sunshine Products, Inc.
• Abbott
• The Nature's Bounty Co.
• GlaxoSmithKline plc.
• Bayer AG
• Glanbia Plc

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global vitamin supplements market report based on type, form, distribution channel, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2028)
    • Multivitamin
    • Vitamin A
    • Vitamin B
    • Vitamin C
    • Vitamin D
    • Vitamin E
    • Vitamin K

• Form Outlook (Revenue, USD Million, 2017 - 2028)
    • Powder
    • Tablets
    • Capsules
    • Softgels
    • Gummies
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
    • Offline
        • Hypermarkets/Supermarkets
        • Specialty Stores
        • Others
    • Online

• Regional Outlook (Revenue, USD Million, 2017 - 2028)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Russia
    • Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia & New Zealand
    • Central & South America
        • Brazil
        • Argentina
    • Middle East & Africa
        • GCC
        • South Africa