Thanks to their growing health awareness, aging population, dietary gaps, preventive healthcare needs, rising disposable incomes, and access to e-commerce and personalized nutrition products, fitness freak consumers are driving the vitamin supplement market. Social media and influencer marketing are also playing a role in increasing demand.
NEWARK, Del., Nov. 1, 2023 /PRNewswire/ -- Vitamin Supplement Market Analysis by Powder, Gummies, and Others, with Growth Opportunities and Revenue Forecast for 2023-2033
The global vitamin supplement market is anticipated to capture a valuation of US$ 57.63 billion in 2023 and US$ 133.94 billion by 2033. The global market will likely secure a CAGR of 8.8% during the forecast period.
Latest Trends in the Vitamin Supplement Market
Several factors are increasing the global market trends. A few of these latest trends in vitamin supplements are as follows:
Immune Health Focus: Consumer are increasing the demand for better alternatives to boost their immune health and are increasing the adoption of vitamin supplements.
Vitamin D Supplement: The growing popularity of vitamin D to enhance immune health increases the demand for vitamin supplements. These supplements improve patients' health and better outcomes.
Sustainable Sourcing: Growing awareness of environmental impacts is promoting sustainability with the adoption of natural ingredients. Consumers are seeking eco-friendly practices, increasing the demand for vitamin supplements.
Clean Labeling: The growing trends of clean labeling are avoiding artificial additives, fillers, and colors, which are expanding the global market trends.
Personalized Nutrition: Key companies are offering personalized nutrition to their consumers to balance their nutrition diet by changing habits and lifestyles. These nutrients offer an abundance of vitamin blends to improve consumers' well-being.
Elderly Population: The rising global aging population are targeting a vast quantity of vitamin supplements to improve bone health and weakness and boost energy.
Children's Supplements: Parents prefer vitamin supplements to improve children's immune systems and develop their growth.
Antioxidants: Consumers are rapidly increasing the adoption of vitamin supplements due to their antioxidant properties to support health. These supplements include vitamins E and C, zinc, and other minerals that reduce oxidant stress.
These are a few trends that significantly drive the global market trends.
"Rising fitness, sports, and gaming activities among consumers are directly expanding the vitamin supplements demand to grow their physics and improve health. Growing awareness towards healthy lifestyles is accelerating the demand for vitamin supplements," says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Key Takeaways:
- The vitamin supplement market is registering a CAGR of 8.8% between 2023 to 2033.
- The United States is expected to register a CAGR of 3.6% by dominating the global market by 2033.
- Germany significantly drives the global market with a CAGR of 4.3%.
- With a CAGR of 7.4%, Japan is rapidly advancing in the global market.
- Australia is anticipated to capture a CAGR of 5.6% in the global market by 2033.
- With a CAGR of 6.1%, China is likely to boom the global market by 2033.
- Multivitamin supplement type is estimated to lead the global market during the forecast period.
Vitamin Supplement Market: Country-wise Insights 2023-2033
Countries | CAGR (2023 to 2033) |
United States Vitamin Supplement Market Share | 3.6 % |
German Vitamin Supplement Market | 4.3 % |
Japanese Vitamin Supplement Market | 7.4 % |
Australian Vitamin Supplement Market Share | 5.6 % |
Chinese Vitamin Supplement Market Share | 6.1 % |
Gain valuable insights into global, regional, and country-level parameters with growth opportunities, historical data (2018-2022), and forecasts (2023-2033). Order this report now!
Key Players are Adding Values in the Global Vitamin Supplement Market
The global market is highly competitive by the present prominent vendors. These vendors are making their efforts by investing million-dollar amounts in research and development activities to carry out unique ideas to expand the market size. Key players are significantly booming the global market through various marketing strategies. These marketing strategies are mergers, collaborations, acquisitions, and product launches.
Key players are vital in uplifting the global market by offering high-quality and organic supplement products to capture consumers' attention. They distribute their products in retailers, supermarkets, online platforms, and other channels to gain popularity, advertise, and boost sales.
Comprehensive Research Methodology of Vitamin Supplement Market Available here!
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage sector lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About the Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI's Extensive Coverage in the Food and Beverages Domain:
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