New York, US: Market Research Future (MRFR) analyses that the vitamin supplements Market is expected to witness significant CAGR of 7% during the forecast period (2020-2027)
The market for vitamin supplements is growing rapidly, backed by rapid advancements in healthcare technologies, rising consumption of health supplements, increasing awareness regarding healthy living, a growing number of health enthusiasts, and steadily growing healthcare expenditure.
The market for vitamin supplements is predicted to attain USD 204.7 billion by the end of 2027. The vitamin supplements market stats by MRFR research reports state that the global market is ready to bolster considerably at a CAGR of 7% in the evaluation period from 2020-2027.
This market research report sponsored by Market Research Future was published to provide cutting-edge vitamin supplements market insights and cater as a source of assessment and data for each enterprise.
An exponential growth in disposable income and rising prevalence of lifestyle and chronic disorders support the vitamin supplements market growth. According to the World Economic Forum, the global population aging over 65 will rise from 600 million to more than 1 billion by 2050. This geriatric population will eventually accelerate the development of the market for vitamin supplements.
As Vitamin supplements can help reduce the risk of cardiovascular diseases, cancer and other chronic diseases, the increasing prevalence of these diseases support the market for vitamin supplements. Furthermore, rapid urbanization, spurting population, the ongoing vitamin supplements market trends of changes in lifestyle and dietary habits, and a growing number of health-conscious individuals, who increasingly turn towards health supplements, are expected to catalyze the vitamin supplements market share over the assessment era.
However, the research vitamin supplements market data suggest that the inadequacy of evidence to support the use of certain vitamin supplements and increasing awareness regarding the side effects of vitamins may hamper the growth of the market for vitamin supplements.
The market for vitamin supplements can be segmented by type and end user
By type, the market for vitamin supplements can be segmented into vitamins A, B, C, D, E, and others.
By end user, the market for vitamin supplements can be segmented into sports nutrition, adult health nutrition, child health nutrition, bone & joint health, elderly health, and others.
Regional Overview: market for vitamin supplements
According to this report, the North American region is leading the market for vitamin supplements due to the growing incidence of chronic illnesses, escalating health and fitness awareness among people, and increasing healthcare expenditure.
The Asia-Pacific region is predicted to experience the maximum growth rate across the market for vitamin supplements given the swiftly rising geriatric population, increasing disposable income, changing lifestyles, and growing awareness in this region.
The catalog for the leading participants across the market for vitamin supplements includes players such as GlaxoSmithKline Plc. (U.K.), Archer Daniels Midland Company (U.S.), BASF SE (Germany), NSF International (U.S.), Amway Corporation (U.S.), Abbott Laboratories (U.S.), Adisseo France SAS (France), Koninklijke DSM N.V. (Netherlands), Boehringer Ingelheim GmbH (Germany), Cargill Incorporated (U.S.), AkzoNobel N.V.(Netherlands), Lonza Group Ltd. (Switzerland), The Himalaya Drug Company (India), and Nestlé S.A. (Switzerland).
The market for vitamin supplements is rapidly growing due to the increasing demand for vitamins to enrich diets and maintain health, the rising prevalence of chronic diseases, and rapid advancements in healthcare technologies. The report provides comprehensive market intelligence of the market for vitamin supplements, along with comprehensive coverage of market numbers, market outlook, and market forecasts. It includes market segmentation, geographical coverage, and key companies profiled in the report. The report also provides insight into the competitive landscape of the market for vitamin supplements.