NEWARK, Del, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global vitamin supplement market is anticipated to capture a valuation of US$ 57.63 billion in 2023 and US$ 133.94 billion by 2033. The global market is likely to secure a CAGR of 8.8% during the forecast period.
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Latest Trends in the Vitamin Supplement Market
Several factors are increasing the global market trends. A few of these latest trends in vitamin supplements are as follows:
Immune Health Focus: Consumer are increasing the demand for better alternatives to boost their immune health and are increasing the adoption of vitamin supplements.
Vitamin D Supplement: The growing popularity of consuming vitamin D to enhance immune health is increasing the demand for vitamin supplements. These supplements improve patients' health and better outcomes.
Sustainable Sourcing: Growing awareness of environmental impacts is promoting sustainability with the adoption of natural ingredients. Consumers are seeking eco-friendly practices, increasing the demand for vitamin supplements.
Clean Labeling: The growing trends of clean labeling are avoiding artificial additives, fillers, and colors are expanding the global market trends.
Personalized Nutrition: Key companies are offering personalized nutrition to their consumers to balance their nutrition diet by changing habits and lifestyles. These nutrients offer an abundance of vitamin blends to improve consumers' well-being.
Elderly Population: The rising global aging population are targeting a vast quantity of vitamin supplements to improve bone health and weakness and boost energy.
Children's Supplements: Parents prefer vitamin supplements to improve children's immune systems and develop their growth.
Antioxidants: Consumers are rapidly increasing the adoption of vitamin supplements due to their antioxidant properties to support health. These supplements include vitamin E and vitamin C, zinc and other minerals that reduce oxidant stress.
These are a few of the trends that significantly drive the global market trends.
"Rising fitness, sports and gaming activities among consumers are directly expanding the vitamin supplements demand to grow their physics and improve health. Growing awareness towards healthy lifestyles are accelerating the demand for vitamin supplements," says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Key Takeaways:
- The vitamin supplement market is registering a CAGR of 8.8% between 2023 to 2033.
- The United States is expected to register a CAGR of 3.6% by dominating the global market by 2033.
- Germany significantly drives the global market with a CAGR of 4.3%.
- With a CAGR of 7.4%, Japan is rapidly advancing in the global market.
- Australia is anticipated to capture a CAGR of 5.6% in the global market by 2033.
- With a CAGR of 6.1%, China is likely to boom the global market by 2033.
- Multivitamin supplement type is estimated to lead the global market during the forecast period.
Key Players are Adding Values in the Global Vitamin Supplement Market
The global market is highly competitive by the present prominent vendors. These vendors are making their efforts by investing million-dollar amounts in research and development activities to carry out unique ideas to expand the market size. Key players are significantly booming the global market through various marketing strategies. These marketing strategies are mergers, collaborations, acquisitions and product launches.
Key players are playing a vital role in uplifting the global market by offering high-quality and organic supplement products to capture consumers' attention. They are distributing their products in retailers, supermarkets, online platforms and other channels to gain popularity, advertising and boost sales.
Key Players in the Vitamin Supplement Market
- Amway Corp.
- American Health Formulations (AHF)
- FullWell
- Garden of Life LLC
- Good Health New Zealand
- Healthy Life Pharma (P) Limited
- Klean Athlete
- Llama Naturals
- NOW Foods
- Nordic Naturals
- Olly PBC
- Pharmavite
- RBK Nutraceuticals
- The Nature's Bounty Co.
- Vital Proteins LLC
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Key Segments in the Vitamin Supplement Market
By Type:
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
- Multivitamin
By Form:
- Tablets
- Powder
- Capsule
- Gummies
- Others
By Distribution Channel:
- Supermarkets/Hypermarkets
- Retail Pharmacy
- Online sales
- Others
By End User:
- Adult
- Geriatric
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa(MEA)
- Europe
Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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