Global Vitamin Supplements Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
Global Vitamin Supplements Market
Vitamins are necessary organic micronutrients that are required in minimal quantities to sustain basic body functions. They are mainly consumed through food and are commercially presented in both natural and synthetic formulations. The application of vitamins fluctuates across different fields, containing the food, feed, healthcare, and personal care industries, where they are used for improvement or fortification purposes, to boost the nutritional value of the end products. The global vitamin supplements market is distributed, and the top eight players together held about 45% share in 2018. The presence of large multinational players, like NBTY and Bayer, intensifies the competition.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Rising awareness about vitamins’ benefits, demand from the senior citizens, and surging healthcare costs are the key factors for the growth of the global vitamin supplements market. Additionally, numerous information sources, showing the favorable effects of vitamin supplements, are helping consumers in choosing the appropriate form of such products. Further, the knowledge of diseases caused because of vitamin deficiency is making consumers adopt vitamin supplements.
On the other hand, some studies have indicated that very high dose supplements, including vitamin E and beta-carotene (provitamin A), may be dangerous.
Nutritional product purchase via online shopping portals is trending nowadays
Websites like Amazon.com and Vitacost.com have grown-up in current years. The busy standard of living of the people is driving them to shop online broadly. On online platforms, consumers have access to product reviews and all the related information, and the trend is expected to demand for vitamin supplements. With the growing number of online shoppers and the online sales of nutritional products, including vitamin supplements, the vitamin supplements market is gaining significant traction.
The global vitamin supplements market is segmented by product, application, form, end-user, and region.
In terms of the application, the healthcare industry led the vitamin supplements market in 2018, accounting for above one-third of the market share. The personal care industry is expected to advance at the highest CAGR throughout the estimated period.
The personal care industry has emerged as a noticeable end-user of vitamin supplement products. Vitamin C is one of the most usually used antioxidants in the production of skincare products. It offers the essential nutrients to the skin for protection from the sun and other harmful external elements, like pollution and smoking. Vitamin E is also used as a strong antioxidant for skin protection, thus, the rising skin care consciousness is helping the growth of the global vitamin supplements market.
Region-wise, the leading markets for vitamin-based products reside within the North American, representing a market share of XX% of industry participants and consumers and region also host a well-entrenched vitamin supplements and premixes industry, which aids the growth of the overall vitamins market. Also, the vitamin supplements market is the second-largest for Europe followed by North America.
In addition to the Asia Pacific region, and mainly China, hosts’ strong growth prospects for vitamin producers, given the consumer and industrial base for functional & fortified products in the region, along with the growing demand from other regions. China is among the largest producers of Vitamin C in the world, with the existence of global players, for example, DSM, ADM, and the Barentz group. A substantial percentage of these players have invested in upgrading their production facilities as per the capacity requirements and the essential to comply with the country’s strict environmental norms. DSM is among the largest international players in the country, it has recently announced a further round of upgrades to its vitamin C plant in Jiangshan, China, to gain a competitive edge in the market.
The objective of the report is to present a comprehensive analysis of the Global Vitamin Supplements Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Vitamin Supplements Market dynamics, structure by analyzing the market segments and project the Global Vitamin Supplements Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vitamin Supplements Market make the report investor’s guide.
Scope of the Vitamin Supplements Market
Global Vitamin Supplements Market, By Product
• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
Global Vitamin Supplements Market, By Application
• Food & beverage
• Personal Care
Global Vitamin Supplements Market, By Form
• Tablets & Capsules
Global Vitamin Supplements Market, By End-user
• Adult Women
• Adult Men
• Senior Citizen
Global Vitamin Supplements Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Vitamin Supplements Market
• NBTY Inc.
• Archer Daniels Midland Company
• Integrated BioPharma Inc.
• Herbalife Ltd.
• Bayer AG
• Royal DSM N.V.
• Pharmavite LLC
• E.I. du Pont de Nemours and Company
• Reckitt Benckiser Group PLC
• Glanbia PLC
• BASF SE
• Nutraceutical International Corporation
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