Pune, Nov. 01, 2020 (GLOBE NEWSWIRE) -- The global vitamins and supplements market is set to gain traction from the increasing demand for healthy and innovative products from the consumers. Manufacturers nowadays are striving to develop new vitamins and dietary supplements (VDS) products equipped with botanicals and natural herbs. This information is given by Fortune Business Insights™ in a new report, titled, “Vitamins and Supplements Market Size, Share & COVID-19 Impact Analysis, By Type (Multivitamins, Calcium Supplements, Pediatric Supplements, and Others), Form (Capsule, Tablet, Powder, and Liquid & Gel), Distribution Channel (Supermarkets, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2027.” The report further states that the vitamins and supplements market size was USD 108 billion in 2019 and is projected to reach USD 185.16 billion by 2027, exhibiting a CAGR of 6.4% during the forecast period.
COVID-19: Enhancement of Natural Defense System to Skyrocket Demand
The outbreak of the COVID-19 pandemic has affected the market positively. Consumers are looking for nutritional and healthy products to enhance the natural defense system of their bodies. The U.S. National Health and Nutrition Examination Survey declared that during the pandemic, more than 50% of the U.S. population was reported to consume vitamins and supplements. We are providing in-depth analysis to help you better understand the current scenario of the market.
This Report Answers the Following Questions:
- Which segment is set to dominate the market?
- Which region is likely to lead the market in the near future?
- How would key companies surge the sales of their products?
- What are the market drivers, hindrances, and opportunities?
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Drivers & Restraints
Increasing Usage of Online Platforms for Shopping to Boost Growth
People across the globe are nowadays highly dependent on the internet. They are becoming very attentive in personalized care and medicines owing to the rising volatility of the health supplements industry. The internet is one of the vital mediums for shopping, would aid in providing easy access to dietary supplements. To provide a hassle-free shopping experience, manufacturers are emphasizing online platforms to deliver their products. As per a report by World Food India, in the global nutraceuticals market, more than 25% share is held by dietary supplement products. However, the products go through a large number of stringent tests before they are distributed. This factor may hamper the vitamins & supplements market growth in the coming years.
Segment
Multivitamins Segment to Dominate Backed by Need to Reduce Malnutrition
Based on type, the market is multivitamins segment held 35.42% in terms of vitamins and supplements market share in 2019 and is set to dominate throughout the forthcoming years. This growth is attributable to the increasing demand for multivitamins supplements for reducing insufficiencies. They include vitamins A, E, C, and D that help in diminishing malnutrition.
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Regional Analysis
Rising Concerns Regarding Malnutrition to Favor Growth in Asia Pacific
In 2019, Asia Pacific procured USD 49.06 billion in terms of revenue. This growth is attributable to the emerging concept of nutritional food items in the region on account of the increasing concerns regarding malnutrition. Japan and China are the leading markets in this region because of the rising demand for traditional medicines. North America, on the other hand, is expected to showcase significant growth stoked by the high demand for calcium and fish oil supplements.
Competitive Landscape
Key Players Focus on Launching Novel Vitamins & Supplements to Meet Rising Demand
The market is highly consolidated because of the presence of several renowned companies. They are constantly trying to develop new products equipped with the latest innovations. This is helping them to gain a competitive edge and fulfilling the demand from the consumers.
List of the Leading Companies Profiled in the Global Vitamins and Supplements Market are:
- Bayer AG (Leverkusen, Germany)
- Koninklijke DSM N.V. (Heerlen, Netherlands)
- Archer Daniels Midland Company (Illinois, U.S.)
- BASF SE (Ludwigshafen, Germany)
- Glanbia, Plc (Kilkenny, Ireland)
- Nuleaf Naturals LLC. (Colorado, U.S)
- Herbalife Nutrition (California, U.S.)
- Reckitt Benckiser Group plc (Slough, U.K.)
- NutraMarks Inc. (California, U.S.)
- Otsuka Pharmaceutical (Tokyo, Japan)
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Detailed Table of Content:
- Introduction
- Research Scope
- Market SegHouseholdtation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview on Global Nutraceutical Market
- Supply Chain & Regulatory Analysis
- Global Vitamins & Supplements Price Trend
- Recent Industry DevelopHouseholdts - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID-19, Challenges, and Opportunities amid the Pandemic
- Global Vitamins & Supplements Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Multivitamins
- Calcium Supplements
- Pediatric Supplements
- Others (Mineral & Protein) (Mineral & Protein)
- By Form (Value)
- Capsule
- Tablet
- Powder
- Liquid & Gel
- By Distribution Channel (Value)
- Supermarket/Hypermarket
- Convenience Stores
- Speciality Stores
- Online Retails
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
Below are the two latest industry developments:
- May 2020: Homart Pharmaceuticals introduced three vitamin C products under the Springleaf and Toplife brands. Its main aim is to cater to the rising demand for immunity boosters amid COVID-19.
- April 2020: itSpray launched an oral spritz vitamin brand named BOOSTit across Arizona and Nevada. It uses a sublingual delivery system that is capable of acting faster than gummies, powders, and pills.
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Natural Vitamin E Market Size, Share & Industry Analysis, By Type (Tocopherols, and Tocotrienols), Application (Dietary Supplements, Food and Beverages, Cosmetics, and Others), and Regional Forecasts 2019-2026
Dietary Supplements Market Size, Share & COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form (Tablets, Capsules, Liquids, and Powders), and Regional Forecasts, 2020 – 2027
Herbal Food Supplements Market Size, Share & Industry Analysis, By Ingredient (Turmeric, Wheat/Barley Grass, Flax seed/oil, Aloe, Others), By Form (Capsules & Tablets, Oils, Powder and Granules, Others), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online, Specialty Stores, Others) Others and Regional Forecast, 2019-2026
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