Vitamin Supplements Market By Type (Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K, Multivitamin), By Form (Tablet, Powder, Capsule, Gummies, Others), By Distribution Channel (Supermarkets and hypermarkets, Retail Pharmacy, Online Sales, Others), By End User (Adult, Geriatric, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The vitamin supplements market size was valued at $47,929.5 million in 2021 and is estimated to reach $98,641.80 million by 2031, registering a CAGR of 7.6 % from 2022 to 2031. A vitamin supplement is a product intended to supplement one's diet by taking a pill, capsule, tablet, powder, or liquid. Due to rising awareness of health, consumers are shifting their preference for a healthy diet, which is expected to lead to the growth of the market. These are used to fulfil the nutritional requirement of the human body. The rise in the awareness regarding vitamins among consumers has led consumers to shift toward vitamin supplements since the awareness regarding the benefits and disadvantages of vitamin supplements among consumers is growing rapidly. The rising consumer awareness regarding over-the-counter (OTC) vitamin supplements, which can be purchased without the prescription of a doctor is expected to drive the growth of the market during the forecast period.
The rising trend toward self-care and maintaining a healthy lifestyle drive the growth of the market since self-care has emerged as an important component of lifestyle among modern customers. There has been a significant change in consumers’ food habits due to rise in focus on health and immunity. There has been a rapid spike in the adoption of vitamins, minerals, and food that enhance immunity, organic goods, supplements, and other dietary aids. The National Health Service UK stated that lack of vitamin D can lead to bone deformities, such as rickets in children, and bone pain caused by a condition, called osteomalacia in adults. Along with this, due to COVID-19, people started focusing on their diet to improve their immunity. Such factors help the vitamin supplements market to grow at a significant rate.
Stringent regulations of the government can restrain the market from growing since there has been strict government regulation regarding the manufacturing and sales of vitamin supplements. FDA regulates both finished dietary supplement products and dietary ingredients. FDA regulates dietary supplements under a different set of regulations than those covering conventional foods and drug products. Manufacturers and distributors of dietary supplements and dietary ingredients are prohibited from marketing products that are adulterated or misbranded. Therefore, these firms are responsible for evaluating the safety and labeling of their products before marketing to ensure that they meet all the requirements of the Federal Food, Drug, and Cosmetic Act as amended by DSHEA and FDA regulations. FDA has the authority to act against any adulterated or misbranded dietary supplement product after it reaches the market. Such regulations by the government can restrict the growth of the market.
Due to the side effects of high doses of vitamin supplements, consumers may restrain from buying vitamin supplements, which can hinder the growth of the market whereas with increasing awareness about the use of vitamin supplements, the market is expected to overcome this restraint.
The vitamin supplements market is segmented on the basis of type, form, distribution channel, end user, and region. By type, the vitamin supplements market is classified into vitamin A, vitamin B, vitamin C, vitamin D, vitamin E, vitamin K, and multivitamins. Vitamin B is further segmented into vitamin B1, vitamin B2, vitamin B3, pantothenic acid, vitamin B12, and others. By form, the market is categorized into tablet, powder, capsule, gummies, and others. By distribution channel, the market is segmented into supermarkets and hypermarkets, retail pharmacy, online sales, and others. By end user, the market is divided into an adult, geriatric, and others. By region, the market is analyzed into North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are Amway Corp., American Health Formulations (AHF), FullWell, Garden of Life, LLC., Good Health New Zealand, Healthy Life Pharma (P) Limited, Klean Athlete, Llama Naturals, NOW Foods, Nordic Naturals, Olly PBC, Pharmavite, RBK Nutraceuticals, The Nature's Bounty Co., and Vital Proteins LLC.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vitamin supplements market analysis from 2021 to 2031 to identify the prevailing vitamin supplements market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the vitamin supplements market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global vitamin supplements market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
Adult
Geriatric
Others
By Type
Vitamin A
Vitamin B
Sub Type
Vitamin B1
Vitamin B2
Vitamin B3
Pantothenic Acid
Vitamin B12
Others
Vitamin C
Vitamin D
Vitamin E
Vitamin K
Multivitamin
By Form
Tablet
Powder
Capsule
Gummies
Others
By Distribution Channel
Supermarkets and hypermarkets
Retail Pharmacy
Online Sales
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Russia
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Rest Of Asia-Pacific
LAMEA
Brazil
Colombia
Saudi Arabia
UAE
Chile
South Africa
Argentina
Rest Of LAMEA
Key Market Players
Amway Corp
American Health Formulations (AHF)
fullwell_llc
Garden of Life, LLC
HEALTHY LIFE PHARMACEUTICALS PRIVATE LIMITED
Klean Athlete
Llama Naturals
now foods
nordic naturals
Olly PBC
pharmavite
RBK Nutraceuticals
The Nature's Bounty Co.
VITAL PROTEINS, LLC
Good Health New Zealand
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