Vitamins & Supplements Market
Growth Factors of Vitamins & Supplements Market
The vitamins and supplements market size was valued at USD 146.14 billion in 2023, and the market is now projected to grow from USD 154.98 billion in 2024 to USD 250.81 billion by 2032, exhibiting a CAGR of 6.20% during the forecast period of 2024-2032.
COVID-19 has positively impacted the demand for vitamins and supplements through all areas, due to features such as supportive immune health and enhance overall well-being. On the basis of examination, the market showed a significant growth as associated to the normal year-on-year growth.
With the rising dependency on the internet and the increasing volatility of the health supplements industry, consumers are becoming increasingly attentive to personalized medicines and care. The internet is one of the vital modes for shopping which benefits to decrease barriers to access the nutritional supplements in the market. Companies are aiming on supplying vitamins, minerals, and supplements through online channels to deal a hassle-free shopping experience which upsurge the vitamins and supplements market growth.
Consumers are seeking advanced and strong products augmented with nutrients to avoid indications related with coronavirus such as shortness of breath, chest pain, diarrhea, sleepiness, and others. Thus, the nutraceuticals industry keen-sighted a massive demand for protein, pediatric nutrition, sports nutrition, multivitamins, and other products that would decrease fitness risks. Companies are highlighting delivering immunity-boosters in the market along with the aids of natural herbs and botanicals.
Comprehensive Analysis of Vitamins & Supplements Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, by form and by distribution channel. Based on type, the market is classified into multivitamins, calcium supplements, pediatric supplements, others (mineral& protein). Based on form, the market is classified into capsule, tablet, powder, liquid/gel. Based on distribution channel, the market is classified into supermarket/hypermarket, convenience store, specialty store, online retails.
North America region is dominating the vitamins and supplements market share due to growing disposable income of middle-class customers in the region, lets them to spend more on such products to care their overall health.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Bayer AG (Leverkusen, Germany), Koninklijke DSM N.V. (Heerlen, Netherlands), Archer Daniels Midland Company (Illinois, United States), BASF SE (Ludwigshafen, Germany), Glanbia, Plc (Kilkenny, Ireland), Nuleaf Naturals LLC. (Colorado, United States), Herbalife Nutrition (California, United States), Reckitt Benckiser Group plc (Slough, U.K.), NutraMarks Inc. (California, United States), Otsuka Pharmaceutical (Tokyo, Japan) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In May 2023, SmartyPants Vitamins declared the launch of the new form of the company's gummy products, multivitamins without gelatin, which will be accessible nationwide in Walmart stores.
Segmentation Table
TTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.20% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
- Multivitamins
- Calcium Supplements
- Pediatric Supplements
- Others (Mineral & Protein)
Form
- Capsule
- Tablet
- Powder
- Liquid/Gel
Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retails
Geography
- North America (By Type, Form, Distribution Channel, and By Country)
- The U.S. (By Type)
- Canada (By Type)
- Mexico (By Type)
- Europe (By Type, Form, Distribution Channel, and By Country)
- Russia (By Type)
- France (By Type)
- Italy (By Type)
- Germany (By Type)
- U.K. (By Type)
- Rest of Europe (By Type)
- Asia Pacific (By Type, Form, Distribution Channel, and By Country)
- China (By Type)
- South Korea (By Type)
- India (By Type)
- Japan (By Type)
- Rest of Asia Pacific (By Type)
- South America (By Type, Form, Distribution Channel, and By Country)
- Brazil (By Type)
- Peru (By Type)
- Rest of South America (By Type)
- The Middle East and Africa (By Type, Form, Distribution Channel, and By Country)
- South Africa (By Type)
- Israel (By Type)
- Saudi Arabia (By Type)
- Rest of ME&A (By Type)
Please Note: It will take 5-6 business days to complete the report upon order confirmation.