Vitamin and Minerals Global Market Report 2024 - By Trends, Size, Share, Demand, Outlook By 2033

The vitamin and minerals market size has grown strongly in recent years. It will grow from $67.64 billion in 2023 to $73.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increasing health awareness, aging population trends, lifestyle and dietary changes, preventive healthcare practices, fitness and sports nutrition trends.

The vitamin and minerals market size is expected to see strong growth in the next few years. It will grow to $99.22 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to plant-based and specialty diets, increased focus on immune health, elderly population health management, women's health and prenatal nutrition, personalized nutrition and wellness trends. Major trends in the forecast period include innovative delivery formats, natural and clean label products, nutricosmetics market growth, age-specific supplements, sports and fitness nutrition.

Market Overview -
Vitamins and mineral supplements refer to the micronutrients that the body needs to perform a variety of typical tasks. These micronutrients must, however, be obtained from the food we eat because they are not generated by our bodies. Organic compounds known as vitamins are often classified as either fat-soluble or water-soluble.

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The Role Of Dietary Supplement*s In Supporting Immune Health And Driving Growth In The Vitamins And Mineral Supplement Market
The growing use of dietary supplement*s 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 fibrous 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 supplement*s in the lifestyle is expected to drive the vitamins and mineral supplement market growth.

Competitive Landscape -
Major companies operating in the vitamin and minerals market report are Pfizer Limited, BASF Aktiengesellschaft., Bayer AG, Abbott Laboratories, Glaxosmithkline PLC, Suntory Holdings Ltd, Otsuka Holdings Co. Ltd, Daiichi Sankyo Company Limited, AMWAY India Enterprises Pvt. Ltd, Salus Haus, Nestle Health Science, Lonza Group, Eisai Co. Ltd., Glanbia PLC, DuPont Nutrition & Health, CSPC Pharmaceutical Group, The Bountiful Company, JamiesonWellness Inc, Pharmavite LLC., Nature's Bounty Co., Sanofi India Limited, General Nutrition Centers Inc., General Nutrition CentersInc., Puritan's Pride, CCMP Capital, Webber NaturalsPharmaceuticals Ltd., Webber Naturals, DSM Nutritional Products AG, Hainan Yangshengtang, Hainan Yangshengtang, Archer Daniels Midland, Cargill Incorporated, Glanbia Nutritionals, Herbalife Nutrition Ltd., Naturex (Part of Givaudan), NOW Health Group, Probiotics International Ltd, Vitabiotics Ltd.

Growing Consumer Shift To Organic Supplements A Notable Trend In The Vitamins And Mineral Supplement Market
The consumer preference toward organic supplements is a key trend in the vitamins and mineral supplement market. For instance, in December 2022, according to the United States Department of Agriculture, a US-based government agency, total sales of organic products in the United States reached $11.2 billion in 2021, representing an increase of $1.28 billion from the previous year. 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.

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Key Segments -
The vitamin and minerals market covered in this report is segmented -
1) By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral
2) By Application: Energy And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
3) By Distribution Channel: Pharmacies ANd Drug Stores, Supermarkets And Hypermarkets, Online Channels
4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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