The vitamin supplements market is projected to grow at a CAGR of 8.39% to reach US$12.518 billion by 2024, from US$7.722 billion in 2018. 40-50 percent of men and women above 50 years of age or older in the U.S. regularly use mineral or multivitamin supplements which account for more than US$11 billion annual sales of these supplements (source: National Center for Biotechnology Information, U.S. National Library of Medicine).
Thus, North America is expected to show a significant market share in contributing to the growth of the global vitamin supplements market in the forecast period. Furthermore, increasing health awareness worldwide towards the benefits of vitamin supplements is expected to push the market demand for these vitamins during the next five years. In addition, the changing lifestyle conditions and adopting a busy life have created vitamin deficiencies leading to the consumption of vitamin supplements according to a doctor’s prescription. Also, due to the growing elderly population will help in adopting vitamin supplements leading to market growth in the forecast period. However, the increasing concerns regarding the excessive intake of vitamin supplements are expected to be a restraining factor for the market demand over the next five years.
o Increasing health awareness about the benefits of vitamin supplements.
o Growing geriatric population.
o Rising prevalence of vitamin deficiencies due to changing lifestyle conditions.
o Mounting concerns regarding the excessive intake of vitamin supplements.
• INDUSTRY UPDATE
o In November 2018, Royal DSM and FC Basel 1983, announced their partnership in nutrition and health to work closely with the science team for advising the players about health and nutritional solutions along with vitamin and dietary supplements.
o In March 2017, DuPont Nutrition and Health and Healthspan entered into a partnership for collaborative development of SuperPro 50, the latest and most advanced live bacteria supplement.
The major players profiled in the vitamin supplements market include The Nature's Bounty Co., Archer Daniels Midland Company, DuPont Nutrition & Health, DSM, BASF SE, Bayer AG, Pharmavite® LLC, Amway, Carlson Labs, and NOW Health Group, Inc. among others.
|Market size value in 2018||US$7.722 billion|
|Market size value in 2024||US$12.518 billion|
|Growth Rate||CAGR of 8.39% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Distribution Channel, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||The Nature's Bounty Co., Archer Daniels Midland Company, DuPont Nutrition & Health, DSM, BASF SE, Bayer AG, Pharmavite® LLC, Amway, Carlson Labs, NOW Health Group, Inc.|
|Customization scope||Free report customization with purchase|
The vitamin supplements market has been analyzed through the following segments:
• By Type
o Vitamin A
o Vitamin D
o Vitamin B12
o Vitamin C
• By Distribution Channel
• By End-User
• By Geography
o North America
o South America
? United Kingdom
o Middle East and Africa
? Saudi Arabia
o Asia Pacific
? South Korea
Frequently Asked Questions (FAQs)
Q1. What will be the vitamin supplements market size by 2024?
A1. The vitamin supplements market is projected to reach a total market size of US$12.518 billion by 2024.
Q2. What is the size of the global vitamin supplements market?
A2. Vitamin Supplements Market was valued at US$7.722 billion in 2018.
Q3. What are the growth prospects for the vitamin supplements market?
A3. The global vitamin supplements market is projected to grow at a CAGR of 8.39% during the forecast period.
Q4. What factors are anticipated to drive the vitamin supplements market growth?
A4. Increasing health awareness worldwide towards the benefits of vitamin supplements is expected to push the market demand.
Q5. Which region holds the largest market share in the vitamin supplements market?
A5. North America is expected to show a significant market share in contributing to the growth of the global vitamin supplements market in the forecast period.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. VITAMIN SUPPLEMENTS MARKET BY TYPE
5.1. Vitamin A
5.2. Vitamin D
5.3. Vitamin B12
5.4. Vitamin C
6. VITAMIN SUPPLEMENTS MARKET BY DISTRIBUTION CHANNEL
7. VITAMIN SUPPLEMENTS MARKET BY END-USER
8. VITAMIN SUPPLEMENTS MARKET BY GEOGRAPHY
8.1. North America
8.2. South America
8.3.1. United Kingdom
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.5. Asia Pacific
8.5.4. South Korea
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.1. The Nature's Bounty Co.
10.2. Archer Daniels Midland Company
10.3. DuPont Nutrition & Health
10.5. BASF SE
10.6. Bayer AG
10.7. Pharmavite® LLC
10.9. Carlson Labs
10.10. NOW Health Group, Inc.
LIST OF FIGURES
LIST OF TABLES
The Nature's Bounty Co.
Archer Daniels Midland Company
DuPont Nutrition & Health
NOW Health Group, Inc.
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