The “Vitamin and Minerals Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global vitamin and minerals market is expected to grow from $20.16 billion in 2021 to $21.37 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The vitamins and minerals supplements market is expected to reach $24.69 billion in 2026 at a CAGR of 3.7%.
North America was the largest region in the vitamins and minerals supplements market in 2022. The Middle East is expected to be the fastest-growing region in the forecast period. The regions covered in the vitamins and minerals supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of vitamins and mineral supplements are multivitamins, single vitamins, multi-mineral, and single minerals. A multivitamin is a dietary supplement that contains all or most of the vitamins that the body does not produce. The various distribution channel involved is pharmacies and drug stores, supermarkets and hypermarkets, and online channels that are used for energy and weight management, general health, bone, and joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and others.
The growing use of dietary supplements in the modern lifestyle is a key factor driving the growth of the vitamins and mineral supplement market. Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, Zinc, and omega fatty acids within recommended upper safety limits is a safe, effective, and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases.
In the case of COVID-19 patients, a variety of high-protein and fiber foods, including cookies, bread, and rolls, have been developed by the Indian Research Institute. For example, to improve children’s immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore.
A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the growth of the vitamins and mineral supplement market.
The disruptions in supply chains for the production of supplements are a key factor hampering the growth of the vitamins and mineral supplement market. The COVID-19 outbreak has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities.
The entire supply chain from production to international trade has been impacted. The economic crisis due to COVID-19 is also impacting dietary supplements by disrupting distribution networks. The economically important supplements have a fragile supply chain and failure in any stage of the supply chain from farms to dealers, haulers, and distributors to manufacturers can disrupt the entire chain.
International Food Policy Research Institute (IFPRI) has gathered evidence of major disruptions to livestock production in China, and vegetables and fruits in Ethiopia, whereas Indian news reported a full-blown collapse in the production of dairy products, which is especially worrying the countries where milk and milk products remain key sources of primary nutrients for young children. Therefore, disruptions in supply chains for nutrient-rich foods are expected to hinder the growth of the vitamins and mineral supplement market.
The consumer preference moving toward organic supplements is a key trend in the vitamins and mineral supplement market. There was a suggested transition towards vegan & organic food in 2020, and this trend will shortly become a lifestyle for many people as COVID-19 is taking the world by storm.
As a lot of people globally believe that the COVID crisis is associated with the consumption of animal meat, people will become more cautious of the food they consume and this can result in a significant rise in the demand for organic and vegan food products. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements.
The countries covered in the vitamins and minerals supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
A selection of companies mentioned in this report includes
- Salus Haus
- Pfizer
- Daiichi Sankyo
- AMWAY
- Eisai
- Sanofi
- GNC
- CSPC Pharmaceutical Group
- DSM
- Otsuka Holdings Co. Ltd.
- Puritan’s Pride
- Pharmavite
- Jamieson
- Webber Naturals
- Hainan Yangshengtang
- Nature’s Bounty
- CCMP Capital
- Pharmavite
- Suntory Holdings Ltd.
- Glanbia PLC
- Glaxosmithkline PLC
- Abbott Laboratories
- Bayer AG
- Puritan’s Pride
- General Nutrition CentersInc.
- Webber Naturals
- CSPC Pharmaceutical Group
- Hainan Yangshengtang
Key Topics Covered:
1. Executive Summary
2. Vitamins and Mineral Supplement Market Characteristics
3. Vitamins and Mineral Supplement Market Trends And Strategies
4. Vitamins and Mineral Supplement Market – Macro Economic Scenario
4.1 COVID-19 Impact On Vitamins and Mineral Supplement Market
4.2 Ukraine-Russia War Impact On Vitamins and Mineral Supplement Market
4.3 Impact Of High Inflation On the Vitamins and Mineral Supplement Market
5. Vitamins and Mineral Supplement Market Size And Growth
5.1. Global Vitamins and Mineral Supplement Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Vitamins and Mineral Supplement Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Vitamins and Mineral Supplement Market Segmentation
6.1. Global Vitamins and Mineral Supplement Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Multivitamin
- Single Vitamin
- Multi-Mineral
- Single Mineral
6.2. Global Vitamins and Mineral Supplement Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-cancer
- Others
6.3. Global Vitamins and Mineral Supplement Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pharmacies & Drug Stores
- Supermarkets & Hypermarkets
- Online Channels
6.4. Global Vitamins and Mineral Supplement Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Adults
- Geriatric
- Pregnant Women
- Children
- Infants
7. Vitamins and Mineral Supplement Market Regional And Country Analysis
7.1. Global Vitamins and Mineral Supplement Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Vitamins and Mineral Supplement Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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SOURCE: Research and Markets
