Vitamins Market to grow by USD 29.24 billion from 2022 to 2027; increasing number of new product launches to boost the market- Technavio

NEW YORK, Jan. 16, 2024 /PRNewswire/ -- The vitamins market is set to grow by USD 29.24 billion from 2023 to 2027 progressing at a CAGR of 7% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by an increasing number of product launches. Prominent recent releases comprise Koninklijke DSM N.V.'s ampli-D, a swift-acting vitamin D supplement in Australia designed to rapidly elevate vitamin D levels, supporting immune health. Procter and Gamble Co. has also launched Voost Vitamins, a product line encompassing diverse vitamins and nutrients to promote immunity, nervous system health, and overall well-being.

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The report on the vitamins market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as company analysis. 

Vitamins Market 2023-2027 - Market Dynamics

Major Trend

The increasing population of health-conscious consumers is a major trend in the market. With growing concerns about obesity rates and related diseases, consumers are increasingly health-conscious, actively seeking natural, low-fat, and low-calorie food and beverage options. In response to this demand, market players are introducing products fortified with vitamins and minerals, featuring reduced fat and calorie content.

Significant Challenge

The misleading advertisements and promotions by market players are significant challenges restricting market growth. Frequently, these entities form partnerships with sports and film celebrities to endorse their products and devise campaigns showcasing these celebrities. Such strategies can sway consumers into making purchases with the perception that the endorsed products are both healthy and safe.

Vitamins Market 2023-2027: Market Segmentation

The vitamins market analysis includes application (food and beverages, pharmaceuticals and cosmetics, and feed additives), end-user (adults, children and teenagers, and infants), and geography (North America, APAC, Europe, South America, and Middle East and Africa)

• The food and beverages segment in the global vitamins market is expected to witness significant growth during the forecast period. The growing demand for health and wellness foods and beverages is a major factor behind this growth. To meet growing demand, various market players are coming up with new food and beverage products that have been fortified with vitamins. Consumers are taking preventive measures against various diseases by including more vitamins and mineral-rich foods in their daily diet.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View a Free Sample Report

The vitamins market covers the following areas:

• Vitamins Market Sizing
• Vitamins Market Forecast
• Vitamins Market Analysis

Companies Mentioned

• Abbott Laboratories
• Ajinomoto Co. Inc.
• Alltech Inc.
• Associated British Foods Plc
• BASF SE
• Bluestar Adisseo Co.
• Chr Hansen Holding AS
• DuPont de Nemours Inc.
• Koninklijke DSM NV
• Merck KGaA
• Sanofi SA
• Vitafor NV
• Vitala Foods
• Zinpro Corp.
• Archer Daniels Midland Co.
• Cargill Inc.
• Evonik Industries AG
• Nestle SA
• Virbac Group

Company Offering

Abbott Laboratories - The company offers vitamins such as Dayalets tablets.

Alltech Inc. - The company offers vitamins such as Vitamin A, and Vitamin E.

Associated British Foods Plc - The company offers vitamins such as Fibersol, and Microbiome Solutions.

The vitamins market is evolving with a focus on diverse consumer needs and preferences. Multivitamins, Vitamin D, C, B Complex, E, and Omega-3 supplements cater to specific health goals. Prenatal and children's vitamins address unique requirements, while senior supplements support aging health. Herbal and organic options, alongside natural extracts and nutraceuticals, showcase a growing demand for clean ingredients. The industry spans online retail, health stores, supermarkets, and direct-to-consumer models, including subscription services. Embracing health and wellness trends, personalized nutrition, and immune boosters, the market integrates sports nutrition and plant-based supplements. Global distribution, regulatory compliance, sustainable sourcing, and innovative packaging underscore commitment, complemented by consumer awareness campaigns.

Related Reports

The global adult vitamin gummies market size is estimated to grow by USD 2.75 billion at a CAGR of 8.45% between 2023 and 2028. 

The animal feed vitamin market size is projected to increase by USD 613.84 million at a CAGR of 4.19% between 2023 and 2028.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US

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