The Vitamin and Minerals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vitamin and Minerals Global Market Report 2024, The vitamin and minerals market size has grown strongly in recent years. It will grow from $67.64 billion in 2023 to $73.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing health awareness, aging population trends, lifestyle and dietary changes, preventive healthcare practices, fitness and sports nutrition trends.
The vitamin and minerals market size is expected to see strong growth in the next few years. It will grow to $99.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to plant-based and specialty diets, increased focus on immune health, elderly population health management, women’s health and prenatal nutrition, personalized nutrition and wellness trends. Major trends in the forecast period include innovative delivery formats, natural and clean label products, nutricosmetics market growth, age-specific supplements, sports and fitness nutrition.
The growing use of dietary supplements in the modern lifestyle is a key factor driving the growth of the vitamins and mineral supplement market. Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, zinc, and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibrous foods, including cookies, bread, and rolls, have been developed by the Indian Research Institute. For example, to improve children’s immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the vitamins and mineral supplement market growth.
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The vitamin and minerals market covered in this report is segmented –
1) By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral
2) By Application: Energy And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
3) By Distribution Channel: Pharmacies ANd Drug Stores, Supermarkets And Hypermarkets, Online Channels
4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants
Top Major Players:
Pfizer Limited
BASF Aktiengesellschaft.
Bayer AG
Abbott Laboratories
GlaxoSmithKline PLC
North America was the largest region in the vitamins and minerals supplements market in 2023.
The consumer preference toward organic supplements is a key trend in the vitamins and mineral supplement market. For instance, in December 2022, according to the United States Department of Agriculture, a US-based government agency, total sales of organic products in the United States reached $11.2 billion in 2021, representing an increase of $1.28 billion from the previous year. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements.
The vitamin and minerals market report table of contents includes:
1. Executive Summary
2. Vitamin and Minerals Market Characteristics
3. Vitamin and Minerals Market Trends And Strategies
4. Vitamin and Minerals Market – Macro Economic Scenario
5. Global Vitamin and Minerals Market Size and Growth
…
32. Global Vitamin and Minerals Market Competitive Benchmarking
33. Global Vitamin and Minerals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Vitamin and Minerals Market
35. Vitamin and Minerals Market Future Outlook and Potential Analysis
36. Appendix
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