Vitamins and mineral are essential components, which aid normal growth and act as building blocks while simultaneously facilitating crucial chemical reactions in the human body. These account for some of the most commonly consumed dietary supplements by individuals to prevent and mitigate health risk and diseases. Elderly and adults of older age are at higher risks of vitamins and mineral deficiencies, which are responsible in enhancing age-related immune system deficiencies. Research studies conducted across United States, Canada and Europe highlighted that one in every three elderly individuals in these regions have at least one or more micronutrient deficiency. According the U.S. Census Bureau, the share of older population in the country is anticipated to increase from 52 million in 2018 to 95 million by 2060. Hence, growing aging population along with increasing concerns pertaining to nutrition deficiency in the age group is anticipated to propel the growth of global vitamins and mineral supplements market over the period of next eight years.
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The outbreak of the Covid-19 pandemic has revolutionized demand in the global vitamins and mineral supplements market. Although vitamin and mineral supplements are not proved to treat SARS-CoV-2, the consumption of micronutrients such as Zinc, Vitamin C and D have been identified as essential supplements for strengthening immune systems and promoting good health and nutritional well-being among individuals by World Health Organization (WHO). The pandemic has accelerated the demand for technology-enabled health solutions and outlined opportunity for personalized supplements in the global vitamins and mineral supplements market. For instance, Baze Labs, a U.S.-based health and wellness company, carries out micronutrient assessment and ensures delivery of appropriate mineral and vitamin supplements as per the detailed report of the tests. The company adopts a holistic approach, wherein the appropriate supplements are prescribed to the respective individual and provided for an entire month. Such business models also showcases positive growth prospects with increased demand for vitamins and mineral supplements market participants in the coming years.
In terms of revenue, global vitamins and mineral supplements market was valued at US$ 47.28 Bn in 2019 and is anticipated to grow at a CAGR of 5.7% over the forecast period (2020 - 2028). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
The detailed research study provides qualitative and quantitative analysis of global vitamins and mineral supplements market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Vitamin supplements dominated the global vitamins and mineral supplements market in 2019. The growing prevalence of vitamin deficiency among older adults is largely contributing towards the segment’s growth in the global market.
- The vitamin and mineral supplements addressing health conditions such as immunity and women’s health is anticipated to witness substantial growth in the coming years. Millennial and older adults are among the prominent consumer groups in the vitamins and mineral supplements market.
- A substantial increase in the sale of vitamin and mineral supplements through online channels have been observed over the years. The ongoing pandemic situation is furthering the adoption of the channel across providers and end users, which is anticipated to boost the segment’s growth over the period of next eight years.
- North America held the highest share in the global vitamins and mineral supplements market. However, Asia Pacific is anticipated to register highest CAGR over the forecast period. Increasing number of elderly population along with growing investments by market participants is contributing towards the region’s growth in the global market.
- The major players operating in the global vitamins and mineral supplements market include Abbott, American Health, Amway Corp, Bayer AG, DSM, Eisai Co., Ltd., FRESH NUTRITION, GEA Group Aktiengesellschaft, Glanbia plc, GlaxoSmithKline plc, Jamieson, Pfizer Inc., Puritan's Pride, Inc., SALUS Haus Dr. med. Otto Greither Nachf. GmbH & Co. KG, Sanofi, The Vitamin Shoppe, Thorne., WN Pharmaceuticals Ltd., and Pharmavite amongst others.
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Global Vitamins and Mineral Supplements Market:
- By Product Type
- Vitamins
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
- Multi-Vitamins
- Others
- Minerals
- Calcium
- Chromium
- Magnesium
- Iron
- Zinc
- Multi-Minerals
- Others
- Blended
- Vitamins
- By Type
- Over the Counter (OTC)
- Prescription-Based
- By Form
- Tablets
- Gummies
- Capsules
- Liquids/ Syrups
- Powders/ Sachet
- Others (Soft gels, Granules, etc.)
- By Application
- Pre-Pregnancy and Pregnancy
- Menopause
- Sports Nutrition
- Bone Health
- Immunity
- Metabolism & Weight Management
- Others
- By Gender
- Male
- Female
- By Age Group
- Infants
- Children
- Teens
- Adults
- Elderly
- By Distribution Channel
- Online
- Offline
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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