"We Envision Growth Strategies Most Suited
to Your Business"

Vitamins & Supplements Market to Exhibit 6.13% CAGR till 2028; The Vitamin Shoppe Unveils ‘Vthrive’ to Offer Clean Formulas Featuring Premium Ingredients

May 28, 2021 | Food & Beverages

The global vitamins & supplements market size is projected to grow from USD 129.60 billion in 2021 and reach USD 196.56 billion by 2028. Consumers nowadays are shifting rapidly towards healthy products owing to the rising concerns regarding well-being and personal health. Their belief in the advantages of supplements and vitamins, as well as high spending power would affect growth positively. Fortune Business Insights™ provided this information in a new study, titled, “Vitamins and Supplements Market Size, Share & COVID-19 Impact Analysis, By Type (Multivitamins, Calcium Supplements, Pediatric Supplements, and Others), Form (Capsule, Tablet, Powder, and Liquid & Gel), Distribution Channel (Supermarkets, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2021-2028.” As per the study, the market stood at USD 119.66 billion in 2020. But, it is set to exhibit a CAGR of 6.13% during the forecast period between 2021 to 2028.


GNC Introduces ‘GNC4U’ Personalized Wellness Program to Cater to High Consumer Demand


In October 2019, GNC, a supplier of health and nutrition related products based in the U.S. introduced its unique personalized wellness program called GNC4U. As people are inclining towards personalization in their lives, the company decided to keep up with this trend with the help of this launch. This service is capable of delivering vitamins and supplements based on lifestyle goals and individual health needs to consumers at their doorsteps. On the basis of the person’s family health history, gender, and age, the program would develop a novel wellness plan backed by science to accelerate healthy living.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/vitamins-and-supplements-market-104051


Rising Adoption of Internet and Online Shopping Sites to Skyrocket Demand


The rising volatility of the health supplements industry and the surging dependency over the internet are set to increase the demand for personalized medicines. The internet helps in reducing various obstacles, such as distance and product’s availability owing to the presence of a large number of e-commerce sites. Hence, manufacturers are focusing on the delivery of vitamins and supplements through online shopping platforms.


The World Food India, for instance, published in a report that in the global nutraceuticals market, dietary supplement products account for more than 25% share. This factor is anticipated to bolster the vitamins and dietary supplements (VDS) market growth in the upcoming years. However, these products revolve around various stringent norms during the launching process, which is very time consuming and can cause delays. It may obstruct growth.


Key Players Aim to Gain Competitive Edge through New Product Launches


Companies present in this market are trying to attract more consumers by launching new products in various shapes and flavors. They are also creating unique plans to enable customization. At the same time, a few of them are introducing gummies so that even kids can consume them.


Fortune Business Insights™ presents a list of vitamins & supplements manufacturers operating in the market. They are:



  • Bayer AG (Leverkusen, Germany)

  • Koninklijke DSM N.V. (Heerlen, Netherlands)

  • Archer Daniels Midland Company (Illinois, U.S.)

  • BASF SE (Ludwigshafen, Germany)

  • Glanbia, Plc (Kilkenny, Ireland)

  • Nuleaf Naturals LLC. (Colorado, U.S)

  • Herbalife Nutrition (California, U.S.)

  • Reckitt Benckiser Group plc (Slough, U.K.)

  • NutraMarks Inc. (California, U.S.)

  • Otsuka Pharmaceutical (Tokyo, Japan)


A Noteworthy Industry Development-



  • January 2020: The Vitamin Shoppe launched Vthrive, a new range of premium essential oils, supplements, minerals, and vitamins. It wants to deliver clean formulas featuring premium ingredients. The entire range is free of artificial sweeteners, flavors, and colors. They also don’t contain titanium dioxide, stearic acid, and magnesium stearate.


Further Report Findings-



  • Asia Pacific procured USD 54.44 billion in terms of revenue in 2020. This growth is attributable to the rising disposable incomes of people belonging to the middle-class. Also, governments of India, Japan, and China are taking several initiatives to create awareness regarding the significance of micronutrient deficiencies.

  • In North America, the rising demand for calcium and fish oil supplements from consumers would propel growth. Besides, consumers residing in Mexico and the U.S. are rapidly shifting towards vitamins & supplements to improve their overall health.

  • Based on the type, the multivitamins segment generated 35.06% and 34.28% in terms of the vitamins & supplements market share globally and in China in 2020, respectively. The rising prevalence of micronutrient deficiencies worldwide is set to aid growth. As per the World Health Organization (WHO), more than 2 billion people were living with micronutrient deficiencies in 2018.


The global market can be segmented in this way:














































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period 



  2017-2019



Unit



  Value (USD Billion)



By Type




  • Multivitamins

  • Calcium Supplements

  • Pediatric Supplements

  • Others (Mineral & Protein)



  By Form




  • Capsule

  • Tablet

  • Powder

  • Liquid/Gel



By Distribution Channel




  • Supermarkets/Hypermarkets

  • Convenience Stores

  • Specialty Stores

  • Online Retails



 


 


 


 


 


By Geography




  • North America (By Type, Form, Distribution Channel, and By Country)

    • The U.S. (By Type)

    • Canada (By Type)

    • Mexico (By Type)



  • Europe (By Type, Form, Distribution Channel, and By Country)

    • Russia (By Type)

    • France (By Type)

    • Italy (By Type)

    • Germany (By Type)

    • U.K. (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, Form, Distribution Channel, and By Country)

    • China (By Type)

    • South Korea (By Type)

    • India (By Type)

    • Japan (By Type)

    • Rest of Asia Pacific (By Type)



  • South America (By Type, Form, Distribution Channel, and By Country)

    • Brazil (By Type)

    • Peru (By Type)

    • Rest of South America (By Type)



  • The Middle East and Africa (By Type, Form, Distribution Channel, and By Country)

    • South Africa (By Type)

    • Israel (By Type)

    • Saudi Arabia (By Type)

    • Rest of ME&A (By Type)




Global Vitamins and Supplements Market
  • PDF
  • 2020
  • 2017-2019
  • 160

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

RMIT
Fujitsu
Accenture
Grifols
Softbank
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X