ID: MRFR/F-B & N/7319-CR | February 2020 | Region: Global | 111 pages
Multivitamin Market Overview:
The proposed report on the multivitamin capsule and tablet market will cover all quantitative and qualitative aspects, including forecasts, market size, growth rates and market estimates. This will therefore give you an overview of the market. The study also includes a detailed analysis of competitive scenario, market drivers, technological advances and restrictions together with several micro and macro factors that influence the dynamics of the market.
Multivitamin pills and capsules are dietary supplements that help meet the daily needs of essential nutrients. Multivitamin pills and capsules are formulated to provide energy , promote immune health, support for the brain and maintain bone health. The increasing prevalence of vitamin deficiencies in the population due to a lack of adequate nutrients in daily diets is driving the growth of the multivitamin tablet and capsule market. In addition, the growing health awareness and expansion of gyms and health clubs that support multivitamin capsules and pill requirements.
Pills led the market and accounted for 34.2% of global revenue in 2020. The increasing popularity of multivitamin products in the form of pills due to greater comfort, easy dosing, longer shelf life and low cost should positively impact growth of the tablet segment during the forecast.
The growing importance of microcapsulation of finished products to ensure controlled release is expected to increase demand for capsules from manufacturers of wellness and healthy products during the forecast. However, its higher cost compared to tablets will create challenges for the capsule segment during the forecast.
A large number of brands, including MusclePharm, Optimum Nutrition, NOW Foods and Quest Nutrition are involved in omega-3, minerals, powdered proteins, multivitamin tablet, and are also choosing multivitamin capsules instead of tablets industry, in addition to vitamin mixtures manufacture. The growing demand for additional supplements among elite athletes, sports enthusiasts and bodybuilders is expected to increase the size of the supplement market segment at the during the forecast period.
The liquid form predicts the highest growth rate of 10.7% during the forecast. Liquid dietary supplements are products that can be dispersed evenly in water, allowing for gentle consumption. The liquid form facilitates the easy formation of mixtures leading to a greater use in yoghurts, smoothies and other energy drinks.
The European region was responsible for a significant share of revenue in 2020 and is expected to expand at a growth rate of 6.8% above forecast figure. Increased consumer awareness and higher disposable income per capita in developed countries, such as the United Kingdom, France and Germany are expected to boost the regional market during the forecast.
Asia-Pacific expects significant growth during the forecast. The market is expected to be the largest market in the region by 2025 due to growing consumerism in countries, including South Korea, India and China . The increase in per capita income, the raising awareness and increased spending on products that improve health in the region should motivate dietary supplements during the projected period.
North America became the most important market in the region with 35.7% revenue by 2020 due to increased consumption of low-calorie and nutritious foods. In addition to the growing awareness of the consumption of supplement products in Mexico due to the launch of new products awaits the rise in demand for dietary supplements during the forecast period.
Key Companies And Market Shares
The market is highly competitive with the main private and public players focusing on innovation, product development and research. For example, in April 2019, Ayanda received a patent for a soft gel capsule in Europe that may contain active probiotic bacteria. Before the invention, the application of gels to carry probiotic bacteria was difficult because the production of gels requires a high temperature that did not allow the bacteria to survive. Some prominent players in the global dietary supplement market include:
The global market for multivitamin capsules and tablets has been segmented by region, end user and distribution channels .
The end-user segment was categorized into men, unisexual and women. Consumption of single-sex multivitamins has historically been high, with its high availability in the market estimated at $ 12,346.1 million at the time of the forecast. Based on the distribution channel, the global market was classified into non-shop-based and shop-based types. The store-based segment has been separated into Department Stores, Supermarkets and Hypermarkets and others.
The energy and weight applications segment dominated the market and earned a 29.5% revenue share in 2020. Other applications for dietary supplements include decontamination / emptying of lungs, general health, heart health, bone and joint health, gastrointestinal health, immunity, anticancer, diabetes and others.
Dietary supplements are mainly used to provide nutritional deficiencies in humans. Greater awareness among consumers about personal well-being and health should increase demand for dietary supplements, including amino acids and proteins, minerals, omega fatty acids, and vitamins during the forecast.
Greater awareness of intestinal health due to the increased frequency of indigestion, cholera intestinal syndrome, acid reflux and constipation worldwide is expected to increase demand for special carbohydrates and fibers from the gastrointestinal health application segment during the forecast.
COVID 19 Effects
The immunity enforcement section will expand by 8.5% growth rate during the forecast. The outbreak of COVID-19 in 2020 has increased the demand for products that enhance immunity globally. Herbs, vitamins and minerals and that enhance immunity have witnessed an increase in demand in 2020, which should continue until the vaccine reaches everyone, thus benefiting the growth of the segment.
We are continuously tracking the impact of the COVID-19 pandemic across sectors in all fields. Our research reports include the same and help to understand the fall and rise, due to the impact of COVID-19 on the industries. In addition, we help you identify the gap between supply and demand in your interesting market. In addition the report helps you with modified government regulations, analysis and many other useful insights.
Adults dominated the market and accounted for 47.2% of overall income in 2020. Changes in lifestyle and moving working hours among working adults cause nutritional deficiencies, which should lead to increased consumption of dietary supplements by adults.
The increase in the prevalence of diabetes, cardiovascular disease, obesity, and other related conditions among adults worldwide should be the main driver of the market. The growing acceptance of sports as a professional career should increase the demand for dietary supplements, such as amino acids, proteins and vitamins over the anticipated period.
The growing geriatric population in regions such as Asia-Pacific, North America and Europe is expected to increase market growth during the forecast. Because the geriatric population is susceptible to various infections, the demand for strengthening immunity is expected to grow at a higher rate, especially in the midst of the covid-19 pandemic.
Growing awareness of the nutritional needs of infants and children is expected to increase the demand for dietary supplements. The growing working population and growing per capita income in developing economies are expected to increase consumer spending on child nutrition during the forecast, which should boost the market.
Vitamins dominated the market and accounted for 31.4% of participation in 2020, due to the high demand from athletes and professionals in the sport of weight and energy management. Users consume multivitamins in liquid, tablets and powder due to the higher comfort level in terms of usage.
Botanists held the second largest share in 2020 and are expected to notice significant growth during the forecast. Growing adoption of the vegan diet globally is expected due to growing environmental concerns to increase demand for botanical products during the forecast.
Amino acids and proteins expect the highest growth rate of 13.3% during the forecast. The growing demand for protein supplements, such as amino acid and selective powder products, such as proline, creatine, citrulline and tyrosine among consumers due to the growing awareness of diet and health is expected to accelerate the market during the forecast.
Manufacturers of weight and energy management products have recently focused more on incorporating nutritional ingredients to increase the nutritional value of products. It has increased the demand for special carbohydrates and fibers that are not digested by humans, but help to regulate blood sugar levels, weight control and lower cholesterol.
The major players operating in the global market for multivitamin tablets and capsules include Glanbia plc (Ireland), The Nature’s Bounty Co. (USA), Nu Skin Enterprises, Inc. (United States), Herbalife Nutrition Ltd. (USA), Amway Corp (USA), Abbott Laboratories (USA), Bayer AG (Germany), Otsuka Holdings Co., Ltd (Japan), GlaxoSmithKline plc (United Kingdom) and Nature's Way Products, LLC (USA).
Highlights Of The 2025 Report On The Market For Multivitamin Capsules And Tablets: