Prenatal Supplements Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Prenatal Supplements Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The prenatal supplements market is projected to register a CAGR of 6.9% during the forecast period (2022 - 2027).

The COVID-19 situation affected globally. In addition, food prices crept up across the world during lockdown due to disrupted supply chains. Prenatal supplements are essential for the health of pregnant women, responsible for various reasons like immunity, child’s growth, etc. This resulted in the increased demand, resulted in the increased revenue of leading market players, and hence, a positive market impact. According to a United Nations poll, during lockdowns, the number of pregnancies surged in numerous countries, including India (up to 7 million), China (13.5 million), Nigeria (6.4 million), Pakistan (5 million), and Indonesia (4 million). Women were advised to take safeguards such as prenatal supplements in such a vital scenario. As a result, the market for prenatal supplements has grown in popularity.

The prenatal supplements market has been growing owing to the rising health awareness among pregnant women to reduce the risk of necessary nutrient deficiency. Also, in some cases. Government initiatives to create awareness regarding the importance of prenatal supplements among women from underdeveloped countries.

For instance, a study by the UC Davis MIND Institute had claimed that the women who were observed not taking daily prenatal immediately before and during the first month of pregnancy were likely to have a child with an autism spectrum disorder, which is twice the rate as that of women who consumed the supplements. Also, NGOs, such as Direct Relief, which provide prenatal supplements free of charge with a mission to improve the health and lives of people affected by micronutrient deficiencies due to inadequate dietary intake of vitamins and minerals, have further boosted the market growth.

The key driver of the prenatal vitamin supplements market is increased health awareness about prenatal supplements among pregnant women. A nutritious diet is necessary from the moment of conception; the proper number of nutritional components is essential for a healthy baby's birth. Prenatal supplements are currently recommended by practically all obstetricians in United States to encourage healthy development and reduce birth abnormalities in pregnant women. According to research conducted by the UC Davis MIND Institute, women who reported not taking daily prenatal supplements just before and throughout the first month of pregnancy were twice as likely to have a child with autism spectrum disorder than women who took the supplements. When paired with a high-risk genetic make-up, the related risks increased by seven times. The sale of prenatal vitamin supplements has expanded significantly as a result of rising income levels and market sellers' promotional tactics.

North America holds the highest share in the prenatal vitamin supplements market. The shifting parental demographic in this region is expected to continue to support growth. The decrease in the rate of teen pregnancy and the rise in the share of births by more affluent and educated women are expected to further drive the market in North America. The growth of the regional market is primarily attributed to the early availability as well as the adoption of the latest healthcare technologies. With the increasing internet penetration, the online market for the purchase of prenatal supplements has seen rapid growth globally in the last 3-4 years. This category has attracted a few vertical specialists like Amazon, Delhaize, Walmart, Carrefour, etc. who are riding on increasing e-retailing growth and vying for a significant pie in the online prenatal supplements space.

The prenatal vitamin ingredients market share is moderately fragmented with the presence of several key market participants, which include Country Life LLC, Direct Relief, Garden of Life, Procter & Gamble Company (New Chapter), Deva Nutrition, Garden of Life, Rainbow Light, and Church & Dwight. Various manufacturers are focusing on enhancing their product portfolio to enhance their product launches, strategic mergers & partnerships to attract new customers.

Emphasis is given to the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.

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