Vitamin Supplements Market Trends, Share, Size, Growth, Sales, Opportunities and Forecast to 2029
Vitamin Supplements Market Overview:
Vitamins are essential organic micronutrients that the body needs in very small amounts to function normally. They are primarily taken in through food and are offered commercially in both natural and artificial formulations. The use of vitamins varies across various industries, including those in the food, feed, healthcare, and personal care sectors, where they are added to products to improve or fortify their nutritional value. The top eight players together held about 45% of the global market in 2018, which is distributed among its participants. The competition is heightened by the presence of major multinational players like NBTY and Bayer. The report study has examined how the COVID-19 pandemic has affected the sales revenue of market leaders, market followers, and market disrupters.
The report on the Vitamin Supplements Market 2021 by Manufacturers, Regions, Segmentation, Key Players, and Application, with a forecast to 2029, was produced after extensive primary and secondary research. Top-down and bottom-up methodologies are used to pinpoint opportunities, challenges, restraints, and trends in the vitamin supplements market. Analytical tools like Porter's Five Force Analysis, SWOT analysis, and PESTLE analysis are also used. Additionally, data on supply and demand, import/export consumption, cost, price, revenue, and gross margins are included in this report.
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Vitamin Supplements Market Dynamics:
The global market is expanding as a result of growing consumer awareness of the advantages of vitamins, a rise in demand from senior citizens, and rising healthcare costs. Additionally, a variety of information sources highlighting the advantages of vitamin supplements help customers choose the right form of such products. Additionally, consumers are consuming vitamin supplements because they are aware of the illnesses brought on by vitamin deficiencies.
On the other hand, some studies contend that consuming excessive amounts of supplements like beta-carotene (provitamin A) and vitamin E may be harmful.
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Vitamin Supplements Market Segmentation:
The vitamin supplement market is divided into product, application, form, end-user, and region segments.
The healthcare industry led the vitamin supplements market in terms of application in 2021, accounting for more than one-third of the market share. Throughout the forecast period, the personal care industry is expected to grow at the fastest CAGR.
Personal care has emerged as a significant end-user of vitamin supplement products. Vitamin C is one of the most common antioxidants used in the manufacture of skincare products. It provides the skin with essential nutrients to protect it from the sun and other harmful external elements such as pollution and smoking. Vitamin E is also used as a powerful antioxidant for skin protection, so the growing skin care consciousness is benefiting the industry.
Vitamin Supplements Market Key Players:
- Integrated BioPharma Inc.
- Herbalife Ltd.
- Bayer AG
- Royal DSM N.V.
- Pharmavite LLC
- I. du Pont de Nemours and Company
- Reckitt Benckiser Group PLC
- Glanbia PLC
- BASF SE
- Nutraceutical International Corporation
- Koninklijke DSM N.V.
- Nuleaf Naturals LLC
- Otsuka Pharmaceuticals
- NutraMarks Inc.
- Pharmavite LLC
Vitamin Supplements Market Regional Analysis:
Some of the key countries covered in the Vitamin Supplements market report include North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, the Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, the Rest of APAC, South America, Brazil, and the Middle East and Africa. In addition, the report provides market size, growth rate, import and export, and country-level analysis, integrating the demand and supply forces of these countries' Vitamin Supplements markets that are influencing market growth.
COVID-19 Impact Analysis on Vitamin Supplements Market:
The report has analysed overall global impact of COVID-19 on Vitamin Supplements market. The report offers a thorough examination of the Vitamin Supplements market's alternatives, challenging conditions, and difficult possibilities during this crisis. The report briefly discusses the benefits and challenges of the COVID-19 in terms of funding and market expansion. Furthermore, the study includes a collection of concepts that should assist readers in establishing and planning a corporate strategy.
In majority of the countries surveyed, public health has improved, particularly as COVID-19 immunisation campaigns have made significant headway. Supply-chain constraints and rising inflation are the two most pressing economic issues. Fortunately, reports forecasted that these problems will be temporary.
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