Market Research Future (MRFR) assessed the Global Vitamin and Mineral Supplements Market 2020 thorough the study period till 2025. Between 2020 and 2025, the vitamin and supplements market can expand at 6.70% CAGR. By 2025, the multivitamin and mineral supplements industry can value at USD 108.14 Billion. The increase in health concerns is encouraging lifestyles changes and adoption of effective dietary habits that are observed to drive the sales of vitamin and mineral supplements. The upscaling demand for vitamin and mineral in sports nutrition and rise in positive outlook toward women sports nutrition can add to the market rise.
The increase in number of international sports events and their complexities that demand athletes to maintain good health are identified to create extensive demand for dietary supplements.
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These factors are anticipated to support the vitamin and mineral supplements business in the approaching years. Hike in disposable income and rise in awareness about health issues are boosting sales of food-based energy boosters. In addition, the inclination towards organic solutions for vitamin and mineral supplements for weight management can support the market surge in the forthcoming years.
The Nature’s Bounty Co. (US), Abbott Laboratories (US), Amway Corp (US), GlaxoSmithKline plc (UK), Bayer AG (Germany), Otsuka Holdings Co. (Japan), Nature’s Way Products, LLC (US), Herbalife Nutrition Ltd. (US), Glanbia PLC (Ireland), and Nu Skin Enterprises, Inc. (US) are some well-established Key Players that are operating in the Global Vitamin and Mineral Supplements Market.
The segment study of the Global Vitamin and Mineral Supplements Market is based on type, distribution channel, and end user.
The type-based segments of the Vitamin and Mineral Supplements Market are mineral, vitamin, and blends. The vitamin segment can secure about 78.50% global market share. The segment can record 6.65% CAGR by 2025. The expansion of the geriatric populace that widely consumes organic vitamin supplements on a daily basis for various disease management can improve the market expansion. Vitamin supplements are available in capsule, gummy, and tablet forms. The growing popularity of gummy supplements among the children population can promote market. The vitamin segment comprises vitamin B, vitamin D, vitamin C, and multivitamins among others. The mineral segment comprises magnesium, calcium, iron, zinc, and multi-minerals among others. The blends segment can thrive at 7.57% CAGR during the forecast tenure. The rise in popularity of blends due to their multiple health benefits can add to the market rise in the near future.
The end user-based segments of the Vitamin and Mineral Supplements Market are unisex, men, and women. The unisex segment can secure about 64.37% market share. Thus, the segment is likely to hold its dominance throughout the study period. The women segment can rise at high pace.
The distribution channel-based segments of the market of vitamin and mineral are store-based and non-store-based. The store-based distribution channel is estimated to retain its dominance throughout the forecast period. E-commerce channels aid expedite sales across wide consumer base. The rise in online shopping sites and increase in free delivery services can favor the market.
In North America. The increase in demand for different sports nutrition and rise in importance to maintain active lifestyle can favor expansion of the market in the near future. The increase in awareness about benefits of protein intake can play a critical role in the vitamin and mineral supplement market promotion. the use of dietary supplements in North America. The rise in awareness about advantages of nutritional products and new launches can add to the regional market rise. In Europe, rise of retail sector can favor the market. In APAC, increase in sports activities can support market growth.
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