Vitamin Supplements Will be $79,616 Million Market by 2030, Says P&S Intelligence

NEW YORK, Oct. 25, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the size of the vitamin supplements market was around $47,328.60 million in 2021, and this will increase to roughly $79,616 million by 2030, advancing at a rate of just under 6% in the years to come.

Multivitamins Are Most Demanded

Multivitamins had a share of above 42% in the past, and they will continue this trend in the near future. This is because of the increasing population that is taking an improper diet, rising prevalence of chronic diseases, rising spending on health products, growing geriatric population, and high R&D spending.

Furthermore, the healthy eating awareness initiatives by government entities, non-government establishments, and enterprises, globally, have made customers realize the benefits of multivitamins, thus boosting their sales.

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Supplemental Vitamins Are Mostly Purchased Offline

Offline distribution channels had the higher revenue in the past. This is because of the availability of an extensive variety of products, ease of choosing them, and advantage of buying buy them together with groceries under the same roof at brick-and-mortar stores.

Sales from online channels will grow considerably in the future. The busy lifestyles, ease of shopping, and provision of product reviews and all applicable information on these platforms will increase the sale of vitamin supplements on online portals.

Healthcare Is Largest Revenue Contributor

Healthcare applications had the largest revenue, and they will maintain their position in the future. This is because of the increasing number of pharma manufacturers, quick launch of products, and increasing healthcare infrastructure related to government initiatives.

Tablets Are Most Widely Consumed

Tablets have the highest demand because of their economical nature, extended shelf life, and ease of consumption. Furthermore, gummies have significant revenue, and their sales will advance with a substantial rate in the future, as they are loved by children.

Browse detailed report on Vitamin Supplements Market Size, Share and Growth Analysis Report 2022-2030

Capsule sales will be the fastest growing in the future, with a rate of over 6%. This is because of the quicker dissolvability and digestibility of capsules than tablets. Additionally, capsules have lower chances of leaving an unpleasant odor or taste, and they also cannot be tampered with.

• North America had the largest revenue share, of over 30%, in 2021, and it will maintain its position in the near future as well.
• The U.S. is a dominating force in North America because of the large consumer base, increasing aging population, rising frequency of health complications, surging population with a desk job, and incidence of major market players in the region.
• APAC had a major share as well, and its revenue contribution will grow considerably in the years to come. The growing acceptance of nutritious meals, rising concerns regarding health, booming elderly population, mounting healthcare construction, surging usable income, and presence of many local market players are credited for this.

Global Vitamin Supplements Market Report Coverage

By Type

• Multivitamin
• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K

By Form

• Powder
• Tablets
• Capsules
• Softgels
• Gummies

By Distribution Channel

• Offline
• Hypermarkets/Supermarkets
• Specialty stores
• Online

By End-User

• Adult Women (Aging 18 – 59 years)
• Adult Men (Aging 18 – 59 years)
• Elderly Citizen (aging 60 and above)

By Application

• Food and Beverage
• Healthcare
• Personal Care

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence