Global Multivitamin Capsules And Tablets Market Size 2024, Forecast To 2033
11 Mar, 2024
The multivitamin capsules and tablets market has demonstrated robust expansion, ascending from $27.1 billion in 2023 to $28.82 billion in 2024, showcasing a CAGR of 6.4%. The growth in the historic period is attributed to heightened health consciousness, the proliferation of the pharmaceuticals industry, growth in the dietary supplements sector, increased healthcare expenditure, and elevated health concerns associated with the COVID-19 pandemic. Looking forward to 2028, the market is projected to experience strong growth, reaching $36.87 billion with a CAGR of 6.4%. This growth is driven by factors such as product launches, increased consumption of sports-based nutritional supplements, and a growing geriatric population. Major trends in the forecast period encompass continued product launches, rising consumption of sports-based nutritional supplements, and an increasing geriatric population.
Global Multivitamin Capsules And Tablets Market Key Driver
The growing health consciousness among individuals is fueling the market for multivitamin capsules and tablets. Prescribed by doctors to address or prevent vitamin deficiencies caused by poor diets, illnesses, or during pregnancy, these supplements contain essential vitamins found in foods and natural sources. The demand for multivitamins has also surged due to increased health concerns amid the COVID-19 pandemic. A survey by Public Health England (PHE) in January 2021 revealed that 7 in 10 adults were motivated to make healthier lifestyle changes due to the pandemic, with 8 in 10 adults deciding to alter their lifestyles in 2021. Approximately 43% of adults expressed heightened motivation to make positive changes compared to the previous year. Therefore, the rising health consciousness is expected to propel the multivitamin capsules and tablets market during the forecast period. The market size for multivitamin supplements is expected to reflect this trend in 2023, and by 2024 and 2028, the continued focus on health consciousness is projected to contribute to the market's sustained growth.
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The multivitamin capsules and tablets market covered in this report is segmented –
1) By Type: Multivitamins Tablets, Multivitamins Capsules
2) By Distribution Channel: Store Based, Non-Store Based
3) By Application: Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
4) By End User: Adults, Geriatric, Pregnant Women, Children, Infants
By Geography:The regions covered in the multivitamin capsules and tablets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the multivitamin capsules and tablets market in 2023. North America was the second-largest market in the multivitamin capsules and tablets market. The regions covered in the multivitamin capsules and tablets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Multivitamin Capsules And Tablets Industry Players
Abbott Laboratories, Otsuka Holdings Co., Glaxosmithkline Plc, Herbal Life Nutrition, Bayer, Natures Bounty Co., Glanbia Plc, Nu Skin Entreprises, Arkopharma, Nutramarks, Nestle S.A, Usana Health Sciences Inc, Cipla Ltd, Lasons India Pvt. Ltd, VOOST, Berocca, Blackmores, Swisse, Nature's Way, Centrum, Cenovis, MuscleBlaze MB-Vite, HK Vitals, Rainbow Light, One A Day Men's Multivitamin, CSPS Pharmaceutical, Zhejiang NHU, G&G, Simply Supplements, Evolution Organics, Nutri-Link, BioCare, Naturex, Microphyt, Ynsect, Olygose, VTF, Solgar, Evalar, Biovea, Mcepharma, Terezia, Archer Daniels Midland Company, Herbalife Ltd, NBTY, Inc, Forever Living, Grupo Omnilife, Shaklee Corporation, American Health Inc, Atrium Innovations, Pfizer, Inc, NOW Foods, HealthVit, Nature Made, GNC Holdings, Inc, Merck KGaA, Ascendis Health, Inova Pharmaceuticals, Vital Health Foods, Vitabiotics Ltd, Adcock Ingram, SA Natural Products, Beauty Gen, BSN, Grenade, Nature's Nutrition, NPL, PharmaFreak.
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Multivitamin Capsules And Tablets Market Overview
Multivitamin capsules and tablets refer to multivitamin drugs that are used to treat or prevent vitamin deficiencies brought on by a poor diet, specific diseases, or pregnancy. Vitamins are crucial for maintaining your health because they serve as the body's building blocks. Multivitamins tablets and capsules are a combination of many different vitamins that are normally found in foods and other natural sources
Multivitamin Capsules And Tablets Global Market Report 2023 provides data on the global multivitamin capsules and tablets market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The multivitamin capsules and tablets market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.