The global vitamin supplement market is projected to reach a valuation of USD 57.63 billion in 2023 and USD 133.94 billion by 2033, with an expected CAGR of 8.8% over the forecast period.
Latest Trends in the Vitamin Supplement Market
Several factors are increasing the global market trends. A few of these latest trends in vitamin supplements are as follows:
Immune Health Focus: Consumer are increasing the demand for better alternatives to boost their immune health and are increasing the adoption of vitamin supplements.
Vitamin D Supplement: The growing popularity of consuming vitamin D to enhance immune health is increasing the demand for vitamin supplements. These supplements improve patients’ health and better outcomes.
Sustainable Sourcing: Growing awareness of environmental impacts is promoting sustainability with the adoption of natural ingredients. Consumers are seeking eco-friendly practices, increasing the demand for vitamin supplements.
Clean Labeling: The growing trends of clean labeling are avoiding artificial additives, fillers, and colors are expanding the global market trends.
Personalized Nutrition: Key companies are offering personalized nutrition to their consumers to balance their nutrition diet by changing habits and lifestyles. These nutrients offer an abundance of vitamin blends to improve consumers’ well-being.
Elderly Population: The rising global aging population are targeting a vast quantity of vitamin supplements to improve bone health and weakness and boost energy.
Children’s Supplements: Parents prefer vitamin supplements to improve children’s immune systems and develop their growth.
Antioxidants: Consumers are rapidly increasing the adoption of vitamin supplements due to their antioxidant properties to support health. These supplements include vitamin E and vitamin C, zinc and other minerals that reduce oxidant stress.
These are a few of the trends that significantly drive the global market trends.
Competitive Landscape
The global vitamin supplements market is highly competitive, with key players striving to develop cost-effective and innovative products. These companies are employing various marketing strategies, including collaborations, mergers, and partnerships, to enhance their market share. They prioritize consumer safety by offering standardized products that adhere to strict regulations.
Key players are also investing in research and development to introduce new ideas that will boost global market revenue. To reach target consumers, they are promoting their brands through trade shows, retailers, and online platforms.
Recent Developments in the Vitamin Supplements Market
- In 2020, Franchise Group LLC announced its newly launched Vthrive to enhance its business portfolio.
- In 2019, GlaxoSmithKline plc announced its completion of a joint venture with United States-based company Pfizer Inc. This joint venture took place to enhance the nutritional brand.
- In 2020, Homart Pharmaceuticals announced its newly launched three products to improve the immune system.
Key Players in the Vitamin Supplements Market
- Amway Corp.
- American Health Formulations (AHF)
- FullWell
- Garden of Life LLC
- Good Health New Zealand
- Healthy Life Pharma (P) Limited
- Klean Athlete
- Llama Naturals
- NOW Foods
- Nordic Naturals
- Olly PBC
- Pharmavite
- RBK Nutraceuticals
- The Nature’s Bounty Co.
- Vital Proteins LLC
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Key Segments in the Vitamin Supplements Market
By Type:
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
- Multivitamin
By Form:
- Tablets
- Powder
- Capsule
- Gummies
- Others
By Distribution Channel:
- Supermarkets/Hypermarkets
- Retail Pharmacy
- Online sales
- Others
By End User:
- Adult
- Geriatric
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa(MEA)
- Europe
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