Global Multi-Vitamin and Mineral (MVM) Supplements Tablets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Multi-Vitamin and Mineral (MVM) Supplements Tablets Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Multi-Vitamin and Mineral (MVM) Supplements Tablets contain vitamins and minerals, and sometimes other ingredients as well. Each of the vitamins and minerals in MVMs have a unique role in the body. MVMs cannot take the place of eating a variety of foods that are important to a healthy diet. Foods provide more than vitamins and minerals. They also have fiber and other ingredients that may benefit health.

Market Overview:

The latest research study on the global Multi-Vitamin and Mineral (MVM) Supplements Tablets market finds that the global Multi-Vitamin and Mineral (MVM) Supplements Tablets market reached a value of USD 11086.32 million in 2022. It’s expected that the market will achieve USD 22279.25 million by 2028, exhibiting a CAGR of 12.34% during the forecast period.

Enhancement of health awareness

Due to the fast-paced lifestyle and high-pressure living environment, more and more people have developed unhealthy living habits. An unhealthy lifestyle brings a series of diseases such as colds, vitamin deficiency, obesity and cancer. The increase in the number of patients leads to an improvement of people's health awareness. At the same time, the improvement of consumers' health awareness drives the increase of expenditure on Healthcare or Supplements, and their willingness to purchase Multi-Vitamin and Mineral (MVM) Supplements Tablets products at their own expense is increasing.

Wide distribution channels of Multi-Vitamin and Mineral (MVM) Supplements Tablets

At the same time, the development of e-commerce has also promoted the development of Multi-Vitamin and Mineral (MVM) Supplements Tablets market.

Sustained economic growth provides kinetic energy for industry development

With economic growth, people begin to pay more attention to health after meeting their basic material needs. The decision of optional consumption attribute is related to the economic level, and the increase of per capita income drives the growth of demand.

Consumers lack nutrition knowledge

Multi-vitamin and mineral (MVM) supplements tablets are different from ordinary foods, and consumers with certain knowledge of nutrition and health care will take the initiative to buy them. Blindly taking multi-vitamin and mineral (MVM) supplements tablets will not only fail to play their due role, but may even harm health. Therefore, consumers need knowledge of nutrition and health care, scientific collocation and rational use, in order to make the multi-vitamin and mineral (MVM) supplements tablets play their due role.

Region Overview:

In 2021, the share of the Multi-Vitamin and Mineral (MVM) Supplements Tablets market in North America stood at 38.89%.

Company Overview:

Bayer AG

Bayer AG is a German multinational pharmaceutical and biotechnology company and one of the largest pharmaceutical companies in the world. Headquartered in Leverkusen, Bayer's areas of business include pharmaceuticals; consumer healthcare products, agricultural chemicals, seeds and biotechnology products.

Haleon plc

Haleon plc is a British multinational consumer healthcare company with headquarters in Weybridge, Surrey. It is the largest consumer healthcare business in the world, with brands including Sensodyne toothpaste, Panadol and Advil painkillers and Centrum vitamins. Haleon was established on 18 July 2022 as a corporate spin-off from GSK.

Segmentation Overview:

Among different product types, Pharmacy segment is anticipated to contribute the largest market share in 2027.

Application Overview:

The market's largest segment by application is the segment Pharmacy, with a market share of 51.93% in 2021.

Key Companies in the global Multi-Vitamin and Mineral (MVM) Supplements Tablets market covered in Chapter 3:

Bayer AG
Bionova
Nestlé
Amway Corp.
Nature's Way
Glanbia PLC
Bausch & Lomb
Haleon plc
Nature Made's
Herbalife

In Chapter 4 and Chapter 14.2, on the basis of types, the Multi-Vitamin and Mineral (MVM) Supplements Tablets market from 2018 to 2029 is primarily split into:

Vitamins
Minerals

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Multi-Vitamin and Mineral (MVM) Supplements Tablets market from 2018 to 2029 covers:

Supermarkets and Hypermarkets
Pharmacy
Online Sales
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)