Vitamins and Supplements Market: Opportunities and Challenges in a Rapidly Evolving Industry
Shift in consumer preferences due to increasing focus on health and prevention and rising prevalence of chronic diseases are some of the key factors driving market revenue growth
The global Vitamins and Supplements Market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Vitamins and Supplements market industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The vitamins and supplements market size reached USD 108.4 Billion in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period. Shift in consumer preferences due to increasing focus on health and prevention and rising prevalence of chronic diseases are some key factors projected to support market revenue growth between 2022 and 2030.
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In addition, increasing awareness among consumers regarding their health is another factor driving revenue growth of the market. Different types of products are increasingly being used for vitamins and supplements. Food and nutrition sectors have evolved to provide customers with a more tailored experience and make up for dietary loss through supplemental nutrition.
In addition, rising prevalence of chronic diseases is another factor increasing demand for vitamins and supplements. The World Health Organization estimates that in 2021, prevalence of chronic diseases was around 57%. This indicates that over 50% of people worldwide have a chronic illness, with cancer, diabetes, and disorders of heart and lungs being the most prevalent. Every day, a range of vitamins, minerals, and nutrients are required to maintain good health and, more significantly, a strong immune system that fights off chronic diseases.
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
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Emergen Research has segmented the vitamins and supplements based on ingredient, form, application, end-users, type, distribution channel, and region:
Ingredient Outlook (Revenue, USD Billion, 2019 - 2030)
Vitamins
Supplements
Form Outlook (Revenue, USD Billion, 2019 - 2030)
Tablets
Capsules
Soft Gels
Powders
Gummies
Liquids
Application Outlook (Revenue, USD Billion, 2019 - 2030)
Immunity
Brain/Mental Health
Bone & Joint Health
Menopause
Metabolic Health
Beauty Care
Digestive & Microbiome Health
Others
End-Users Outlook (Revenue, USD Billion, 2019 - 2030)
Adults
Geriatric
Pregnant Women
Children
Infants
Type Outlook (Revenue, USD Billion, 2019 - 2030)
OTC
Prescribed
Distribution Channel Outlook (Revenue, USD Billion, 2019 - 2030)
Offline
Online
Competitive Outlook:
The global Vitamins and Supplements market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Vitamins and Supplements market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.
Key Companies Profiled in the Report are:
Herbalife International of America, Inc., Archer-Daniels Midland Company, Amway Corporation, Pfizer, Inc., Abbott, Nestle S.A., Nutrition and Biosciences (DuPont de Nemours, Inc.), Bayer AG, Glanbia PLC, and Arkopharma.
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Regional Outlook:
North America (the U.S., Canada, Mexico)
Europe (the U.K., Germany, France, Italy)
Asia Pacific (India, China, Japan, Korea)
Latin America (Brazil, Argentina, Ecuador, Chile)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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