What Has Been the Growth Trajectory for the Multivitamin Capsules And Tablets Market in Recent Years?
The multivitamin capsules and tablets market has seen considerable growth due to a variety of factors.
• The market for multivitamin capsules and tablets has seen a considerable increase in size over the past few years. The market's expansion is projected to continue from $28.49 billion in 2024 to $30.26 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.2%.
The notable growth during the historical period has been triggered by a rise in health awareness, the broadening of the pharmaceuticals industry, the growth of dietary supplements, higher spending on healthcare, and the increased health worries brought on by the COVID-19 pandemic.
What Does the Future Hold for the Multivitamin Capsules And Tablets Market?
The multivitamin capsules and tablets market is expected to maintain its strong growth trajectory in upcoming years.
• The market for multivitamin capsules and tablets is predicted to experience robust growth in the upcoming years, escalating to $39.26 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 6.7%.
The expected growth in this time frame can be ascribed to the launch of new products, augmented intake of sports-based nutritional supplements, and the rise in the elderly population. Noteworthy trends during the forecast period encompass new product launches, increased use of sports-related nutritional supplements, and the growing population of older adults.
Which Factors Are Boosting Growth In The Multivitamin Capsules And Tablets Market?
The market for multivitamin capsules and tablets is seeing growth as a result of heightened health awareness among individuals. Multivitamin tablets or capsules, typically recommended by doctors to address or avoid vitamin deficiencies caused by poor nutrition, certain ailments, or pregnancy, include various vitamins usually derived from food and other natural sources. The COVID-19 pandemic has also created a surge in the demand for multivitamins due to escalating health worries. For instance, in May 2022, a report by the US-based nonprofit consumer research organization, International Food Information Council, disclosed that there had been an increase of 52% in the number of Americans following nutritional habits and patterns from 2021 to 2022. Consequently, the increasing health consciousness is projected to propel the market for multivitamin capsules and tablets forward during the anticipated period.
What Are The Primary Segments In The Global Multivitamin Capsules And Tablets Market?
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 And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
4) By End User: Adults, Geriatric, Pregnant Women, Children, Infants
Subsegments:
1) By Multivitamins Tablets: Chewable Tablets, Effervescent Tablets, Coated Tablets, Standard Tablets
2) By Multivitamins Capsules: Softgel Capsules, Hard Capsules, Liquid-Filled Capsules
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Which Key Trends Are Driving Changes In The Multivitamin Capsules And Tablets Market?
Consumer trends are shifting in the tablets and capsules multivitamin market, with a growing preference for flavored gummy vitamins for all age groups. The drive for a more fun and convenient way to ingest supplements is steering the market towards these tasty, gummy versions. Take SmartyPants Vitamins, a US company known for its gummy multivitamins, as an example. In May 2023, they released a new range of gelatin-free multivitamin gummies sold at Walmart. Made with pectin sourced from citrus fruits and apples, these gummies are ideal for vegetarians or those who abstain from gelatin for dietary or religious purposes. Not just that, these gummies for kids and toddlers contain less sugar than the leading brands, making them a healthier choice.
Who Are the Key Players in the Multivitamin Capsules And Tablets Market?
Major companies operating in the multivitamin capsules and tablets market include:
• Abbott Laboratories
• Otsuka Holdings Co.
• Glaxosmithkline Plc
• 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.
What Is The Most Dominant Region In The Multivitamin Capsules And Tablets Market?
Asia-Pacific was the largest region in the multivitamin capsules and tablets market in 2024. 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.
