Vitamin Supplements Industry Size, Growth, Share, Market Demand by Forecast to 2024

15/nov/2019 13:17:24 suraj taur Contatta l'autore

Market Overview

Global Vitamin Supplements Market is projected to surge at a CAGR of 8.44% during the forecast period ending 2024. Innovative products and packaging have resulted in formulation of GELCAPS, SOFTGELS, apart from the traditional tablets, and powders. The emergence of ecommerce is a strong commercial driver of the market as 60 % of U.S. citizens research the internet for health information and buying decisions. The emergence of the self-serving and informed consumers is another change that the players must comprehend with. Walmart successfully integrated its brick and mortar stores with its online platform driving the sales of vitamin supplements to a high note. Growing demand from application extensions such as adoption of vitamins by the food and beverages, and cosmetics is another driver of the market.

Channel proliferation and market fragmentation are challenges facing the players. The leading manufacturers hold less than 30 % sales reflecting a lack of brand awareness and an absence of consumer loyalty.

Major Players

Prominent players of the Vitamin Supplements Market include

  • Pharmavite LLC., and Nutramark,
  • Reckitt Benckiser Group plc. (UK),
  • NBTY, Inc. (US),
  • Glanbia plc. (US),
  • LLC,
  • Country Life LLC.,
  • Rainbow Light Nutritional System, Inc.,
  • Reckitt Archer Daniels Midland Company,
  • BASF,
  • Unilever
  • DuPont

Industry Segmentation

To generate an accurate assessment of the market the global Vitamin Supplements Market is divided by type, application, end users and others.

Based on type, the market has been segmented by Vitamin D, Vitamin C, Vitamin A, Vitamin B, vitamin E, others

Based on application, the market has been segmented by personal care, healthcare, food & beverages, others

Based on channels, the market has been segmented by retail, wholesale, ecommerce and others

Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.

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Regional Analysis

North America and Europe accounted for the largest market share of greater than 30 % in 2016. The factors driving the dominance of North America and Europe are large economy, large per capita income, and presence of large market players. Germany, Sweden, France and the U.K. dominate the European region.

Asia Pacific is projected to be the fastest growing market led by Japan, South Korea, China and India owing to availability of feed stock due to their diverse agriculture and labor attractiveness. Asia-Pacific accounts for 31.4 % of the global vitamin supplements market.

The Middle East and Africa region is anticipated to generate a moderate growth skewed in favor of the Gulf economies of Saudi Arabia, Kuwait and UAE.

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