Market Dynamics

The need for vitamin supplements is supported by the rise in health awareness, the expansion of health centres and the development of the exercise industry. Product demand is being driven by the rising popularity of eating habits and the growth of health related concerns. A good mindset for sports nutrition can also be driven by the passion to support others. Rise in competition in the global sporting world has made athletes dependent on physical strength. Occupational and daily exercise needs are expected to drive a rise in the number of gym centers and sports clubs.

According to MRFR’s report, the Global Vitamin Supplements Market Size is Anticipated to Reach USD 207.21 billion by 2030 With 7 % by 2022 – 2030.

On the one hand, stringent government regulations present barriers to the development of vitamin supplements across the region.

Vitamin supplements benefit patients fighting COVID-19 and other respiratory tract infections, which in turn increases immune function. In the face of a pandemic, consumer demand for nutritious foods abundant in the immune system and vitamins supplements is high. Thus, this will boost the development of the vitamin supplement industry.

Regional Analysis

The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.

With growing focus on healthier lifestyles and enhanced market awareness of the benefits of protein intake, demand for sports quality goods has the potential to advise the adoption of vitamin supplements in North America. In Mexico, owing to new product launches, greater recognition of the advantages of nutrient-dense products is likely to contribute to greater scale of adoption in the immediate future. In addition, increasing awareness of protein consumption to conserve muscle mass and sustain sufficient levels of nutrition among middle-aged adults in developed countries, including the United States and Canada, is expected to increase product demand over the coming years.

Asia Pacific is projected to become more conscious of the importance of a nutritious diet in countries such as China and India and is considered one of the fastest growing markets for vitamin supplements due to the rising urban population and the growth of disposable income. Furthermore, several big corporations have entered into the Asia Pacific region with the goal of catering to the increasing demands for vitamin supplements. become very an enticing region in the Asia Pacific.

The protein consumption in Europe is increasing in developed countries like Germany and the United Kingdom. is needed to allow amino acids to be used for the processing of dietary supplements. In addition, sales growth will be high for multivitamins, particularly vitamins B and C due to their growing acceptance among the working population and bodybuilders.

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Competitive Landscape

The businesses invest in research and development to produce new products, and they work to make product development a priority to satisfy evolving customer expectations.

Leading market players, identified by MRFR are The Nature's Bounty Co. (US), Herbalife Nutrition Ltd. (US), Nature's Way Products, LLC (US), Abbott Laboratories (US), Amway Corp (US), Bayer AG (Germany), Glanbia plc (Ireland), GlaxoSmithKline plc (UK), Otsuka Holdings Co., Ltd (Japan), and Living Essentials Marketing, LLC (US).

Segmental Analysis

The Global Vitamin Supplements Market has been analyzed on the basis of Form, Type, Distribution Channel, and Region.

On the basis of type, the global vitamin supplements market has been segmented into vitamin B, multivitamins, vitamin C, vitamin D, and others. Over the last few decades, the use of multivitamins has increased in popularity and is likely to dominate the market growth.

The market was divided into tablets, capsules & soft gels, powder, and others by form. The vitamin supplements market share segment maintained the largest share of the overall global vitamin market for 2018.

Based on the distribution channel, the global vitamin supplements market has been bifurcated into store-based and non-store-based. The store-based segment is projected to retain the highest overall proportion of the industry in 2018 and for the near future.

Industry Updates

December 2020: Immunotype, a DNA-based supplement that directed the human immune system at the genome level, was launched by Caligenix, a leading genetic wellness brand. Immunotype is a supplement that contains the most widely researched bioavailable vitamins, nutrients, and herbs to better improve the immune system and is medically confirmed from years of clinical research and laboratory studies.

December 2020: With the inclusion of Immune 24-Hour +, Nature's Bounty expanded its product line with Immune 24-Hour +, a rare, one-of-a-kind supplement that provided the only vitamin C with 24-hour immune support.

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