About Vitamins-
The vitamins are natural and essential nutrients, required in small quantities and play a major role in growth and development, repair and healing wounds, maintaining healthy bones and tissues, for the proper functioning of an immune system, and other biological functions. They also act as antioxidants, protecting cells from damage caused by free radicals. Benefits of vitamins include improved vision, enhanced bone health, a stronger immune system, increased energy levels, and healthier skin. The rising occurrence of vitamin deficiencies and an aging population are also contributing to the market's expansion.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the vitamins market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for vitamins Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Vitamins- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bayer AG (Germany), DSM (Netherland), Pharmavite (United States), Sanofi (France), GlaxoSmithKline plc. (United Kingdom), Glanbia plc (Ireland), Pfizer Inc. (United States), Amway Corp. (United States), NOW Foods (United States), Abbott Laboratories (United States), NatureMade (United States), BASF SE (Germany) and Nestle S.A (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Farbest Brands (United States), Lonza Group (Switzerland) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Vitamins- market by Type (Fat Soluble Vitamins (Vitamin A, Vitamin D, Vitamin E, Vitamin K) and Water Soluble Vitamins (Vitamin B1, Vitamin B2, Vitamin B3, Pantothenic acid (B5), Vitamin B6, Biotin (B7), Folate (folic acid or B9), Vitamin B12, Vitamin C)), Application (Animal Feed, Pharmaceuticals, Nutraceuticals, Food & Beverages, Cosmetic & Personal Care and Others) and Region.
On the basis of geography, the market of Vitamins- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Pharmacies/Drugstores will boost the Vitamins- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Vitamins- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Formulation, the sub-segment i.e. Single Vitamins will boost the Vitamins- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sources, the sub-segment i.e. Synthetic will boost the Vitamins- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing disposable income and shift towards preventive healthcare. and Increasing number of vegan supplements.
Market Growth Drivers:
Growing consumer awareness about health and wellness., Growing demand for nutritionally enriched processed food products. and The rising occurrence of vitamin deficiencies and an aging population.
Challenges:
Regulatory factor and standardization.
Restraints:
Constrained supply of raw materials for natural vitamins. and Excess intake or exposure to vitamins can lead to health risks.
Opportunities:
Rise in demand for feed fortification. and Rising prevalence of chronic diseases is another factor increasing demand for vitamins.
Market Leaders and their expansionary development strategies
In November 2023, Pharmavite LLC, the leading nutrition powered Wellness Company and makers of Nature Made vitamins, announced its acquisition of Bonafide Health, the women’s health company creating a new standard in managing the journey of menopause. This is the continuation of Pharmavite’s ongoing commitment to bring the gift of health to life for all including historically underserved categories. Through the acquisition of Bonafide Health, Pharmavite is expanding and complementing its existing women’s health business comprised of Uqora, a cutting-edge urinary tract health brand, and Equelle, the only supplement with S-equol that is clinically shown to naturally address the root cause of symptoms related to estrogen decline.
In April 2022, Abbott, has launched Arachitol Gummies in India, a dietary supplement that helps maintain required levels of Vitamin D sustainably. Launched in orange fruit flavour, the gummies are approved as health supplements by the Food Safety and Standards Authority in India.
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.