Vitamin Supplements Market - Forecasts from 2024 to 2029

Vitamin Supplements Market - Forecasts from 2024 to 2029

The vitamin supplements market is expected to experience a CAGR of 8.02% throughout the forecast period, reaching a market size of US$105.209 billion by 2029. This represents a substantial increase from US$61.315 billion recorded in 2022.

Vitamin supplements are nutritional items intended to replenish vital vitamins that a person's usual diet might not have. These supplements are available as liquids, powders, pills, capsules, and tablets, among other forms. Vitamins are organic substances that are essential for several physiological functions, including immunological response, metabolism, and general health maintenance. The vitamin supplements market is growing as a result of numerous important factors. The need for preventative healthcare measures has increased due to a growing emphasis on health and well-being brought about by consumer awareness. The world's ageing population needs dietary assistance for immune system health, cognitive function, and general well-being. As per the National Institute of Health, of all dietary supplements, an estimated $55.7 billion was sold in the United States in 2020. In addition, $21.2 billion was sold for supplements containing vitamins, minerals, or both, of which $8.0 billion was sold for MVMs (multivitamins/minerals) and MVs (multivitamins).

Further driving market expansion has been the growing fitness and sports nutrition industry as well as the convenience of online shopping. People are increasingly inclined to spend on health items as their disposable incomes grow, and laws and regulations from the government offer a basis for quality control and safety.

Increasing vitamin deficiencies among humans propels the vitamin supplement market.

The vitamin supplements market benefits from rising vitamin deficits. Consumers are increasingly looking for supplements to treat deficiencies and improve general health owing to the rise in gaps in nutritional knowledge. The market will grow because of this tendency, which increases demand for a range of vitamin goods. Nonetheless, to keep customers' trust, businesses make sure that their products are of high quality and properly convey the advantages. In the UK, around 20% of children and 1 in 6 adults have vitamin D levels below recommended levels. Individuals who are housebound, older, Black or South Asian are more prone to have reduced amounts of this important vitamin. To tackle this issue, the Office for Health Improvement and Disparities (OHID) launched a call for evidence that catalyzes a nationwide campaign to increase public awareness of the importance of vitamin D and to gather input on bold strategies to improve uptake and address disparities from the public, public health experts, retailers, food manufacturers, and other industry bodies.

According to the CDC, youngsters under the age of twelve months require 400 IU of vitamin D every day. A child between the ages of 12 and 24 months needs 600 IU of vitamin D daily. People do not make enough vitamin D from sunlight, so adults (including pregnant and lactating women), young people, and children over 4 years old should think about taking a daily supplement containing 10 micrograms (400 units, also called international units (IU)) of vitamin D. Moreover, a diet low in vitamin A is the cause of vitamin A deficiency since it does not meet physiological requirements. High infection rates, particularly for measles and diarrhoea, may make it worse. While it is uncommon in wealthy nations, it is frequent in underdeveloped ones. More than half of all nations, particularly those in Africa and South-East Asia, have a problem with vitamin A deficiency as a public health issue. Pregnant women in low-income nations and young children experience the worst impacts of this shortage. Globally, an estimated 190 million preschool-aged children suffer from vitamin A deficiency. When vitamin A deficiency is a public health problem, giving vitamin A supplements to children between the ages of 6 and 59 months is very beneficial in lowering fatalities from all causes.

It is projected that the vitamin supplement market in North America will grow steadily.

Vitamin supplements compensate for poor eating habits and are essential for necessary body functions such as wound healing, fighting infection, and improving bone density. Usage of such supplements increases as the body ages as it requires essential nutrition that would boost the immune system and protect the body from any chronic diseases such as heart & cardiovascular disease. The demand for vitamin supplements in the United States is anticipated to show significant growth fueled by the booming aged population and growing prevalence of heart disease. For instance, as per the World Bank’s data, 17% of the population in the US aged 65 years and above in 2022. Additionally, according to the National Center for Health Statistics, in 2021, heart disease was the major cause of death in the United States with the death rate showing a 3.3% increase in comparison to the previous year.

Moreover, the growing health awareness and adoption of a healthy lifestyle has prompted people to consume dietary supplements which is further acting as an additional driving factor. For instance, according to the Council of Responsible Nutrition’s 2023 survey, 74% of US adults take supplements and 55% of the general population is regular supplement users. Besides adults, vitamin supplements are also used by children to fulfil vitamin deficiencies and the growing emphasis of parents to provide nutritious diets to their young ones has caused an upward market trajectory for vitamin supplements in the United States. Additionally, the well-established presence of major market players such as Natural Factors USA which is committed to making high-quality mineral and vitamin supplements has further paved for future market growth.

Market Key Developments
July 2023: Sanofi formed a strategic agreement to acquire Qunol, which will strengthen Sanofi’s vitamin, mineral, and supplements product offering in the US and would further bolster its presence in the major growing health segments in the US market.
October 2021: Three new multivitamins were added to the MegaFood® range of vitamins and supplements: multivitamins for daily energy, multivitamins for daily immune support, and multivitamins for daily stress relief. To support adults' daily requirements and maximum health and wellness, the new multivitamins contain particular components with secondary effects, and 100% or more of the necessary daily value of 19 important nutrients per serving.
May 2022: Everlywell, a top digital healthcare provider that offers easy, cost-effective, and customised support for long-term health, announced the launch of a new service that adds vitamins and supplements made with premium, scientifically supported ingredients to its already extensive menu of health and wellness offerings.

Segmentation:

By Type:

Vitamin A
Vitamin D
Vitamin B12
Vitamin C
Others
By Distribution Channel:

Online
Offline
By End-User:

Children
Adults
By Geography
North America
By Type
By Distribution Channel
By End-User
By Country
USA
Canada
Mexico
South America
By Type
By Distribution Channel
By End-User
By Country
Brazil
Argentina
Others
Europe
By Type
By Distribution Channel
By End-User
By Country
United Kingdom
Germany
France
Others
Middle East and Africa
By Type
By Distribution Channel
By End-User
By Country
Saudi Arabia
UAE
Israel
Others
Asia Pacific
By Type
By Distribution Channel
By End-User
By Country
China
India
Australia
South Korea
Others