Market Research Future (MRFR) has announced a new report on the global vitamin supplements market. The report profiles the global vitamin supplements market by providing detailed analysis of the market’s leading segments and leading players, allowing readers to accurately gauge the market conditions and formulate winning strategies. The historical development pattern of the global vitamin supplements market is studied in detail in the report in order to create a solid platform for projections regarding the future growth trajectory of the market over the forecast period.

Vitamin Supplements Market Outlook is Anticipated to Reach USD 207.21 billion by 2030 With 7 % by 2022 – 2030.

Vitamins are essential biological compounds that perform a wide range of roles in the human body, including the upkeep of various tissues such as skin, bones, and blood, maintaining healthy rates of metabolism, and maintaining healthy rates of essential compounds such as hormones, cholesterol, and proteins.

Vitamin supplements are products used to satisfy the need for vitamins in people who aren’t getting enough vitamins through natural means. They are produced in various forms, such as tablets and powders, and fulfill the need for particular vitamins or a combination of vitamins, as per the need. Vitamin deficiency used to be a major health concern before 1935, when vitamin C supplements were invented. The deficiency of each type of vitamin results in particular diseases and conditions; for instance, the lack of vitamin C causes scurvy, which played a key role in the development of naval power in the Middle Ages due to the unavailability of vitamin C on ships. After the importance of each type of vitamin was identified, efforts began in earnest to produce synthetic variants. The vitamin supplements market is now a major part of the overall healthcare and health foods sector and is likely to grow at a steady rate over the coming years due to the increasing demand for vitamin supplements in various regions across the world.

Segmentation:

The global vitamin supplements market is segmented on the basis of type, application, end user, and region.

On the basis of type, the global vitamin supplements market is segmented into vitamin D, vitamin A, vitamin B, and vitamin C.

By application, the global vitamin supplements market is segmented into healthcare, personal care products, and food and beverages.

By end user, the global vitamin supplements market is segmented into adult men and women.

Regional Analysis:

The global vitamin supplements market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa on the basis of region. Within the Americas, the market is further segmented into North America (U.S., Canada, and Mexico) and Latin America. The Europe market is bifurcated into Western Europe (Germany, France, the UK, Italy, Spain, and others) and Eastern Europe (Poland, Russia). Asia Pacific is segmented into Asia (China, India, Japan, South Korea, and others) and Pacific countries (Australia, New Zealand).

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North America is likely to remain among the leading consumers of vitamin supplements over the forecast period due to the growing awareness about the utility and safety of vitamin supplements and the growing demand among consumers to improve their health outcomes through artificial means. The U.S. is the major consumer of vitamin supplements within North America and is likely to remain the regional leader over the forecast period. European countries such as Germany, France, Sweden, the UK, and Italy are also likely to remain key contributors to the global vitamin supplements market over the forecast period.

However, Asia Pacific is likely to remain the largest contributor to the global vitamin supplements market over the forecast period, with India emerging as the leading consumer of vitamin supplements around the world. Growing healthcare awareness among the emerging countries in Asia Pacific is likely to drive the demand for vitamin supplements over the forecast period. Aggressive promotional campaigns by vitamin supplement manufacturers and efforts from the same to produce vitamin supplements that also taste good are also likely to aid the vitamin supplements market’s growth in Asia Pacific over the forecast period.

Competitive Analysis:

Leading manufacturers in the vitamin supplements market insight include Glanbia plc, Reckitt Benckiser Group plc, BASF SE, Archer Daniels Midland Company, Unilever, DuPont, and NBTY Inc.

Industry Updates:

In December 2018, Tricare and Excellus announced plans to cut some vitamin supplements off their insurance coverage due to the absence of FDA certification.

In March 2019, revenue concessions allowing the Irish food supplements industry to sell vitamin supplements at 0% VAT would cease, hiking up the prices of these products. The industry has appealed to the revenue commission to repeal this move.

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