The global vitamins and minerals market size is expected to grow from $20.16 billion in 2021 to $21.37 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The change in the vitamin and minerals market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The vitamin and mineral market is expected to reach $24.69 billion in 2026 at a CAGR of 3.7%.
What is the Global Vitamin and Minerals Market?
The vitamins and mineral supplements market consists of sales of vitamins and mineral supplements that improve the health and wellness of the population. The sales comprise of revenue generated by the establishments manufacturing vitamins and minerals. Vitamins and mineral supplements are available without a prescription and come in tablets, powders or liquids and provide sufficient vital nutrients and minerals that preserve or boost an individual's health.
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What drives the Global Vitamin and Minerals Market?
The growing use of dietary supplements in the modern lifestyle is a key factor driving the growth of the vitamins and mineral supplement market. Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, Zinc and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fiber foods, including cookies, bread and rolls, have been developed by the Indian Research Institute. For example, to improve children's immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the growth of the vitamins and mineral supplement market.
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Global Vitamin and Minerals Market Segments
The global vitamin and minerals market is segmented:
By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral
By Application: Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Others
By Distribution Channel: Pharmacies and Drug Stores, Supermarkets and Hypermarkets, Online Channels
By End-User: Adults, Geriatric, Pregnant Women, Children, Infants
By Geography: The regions covered in the vitamin and minerals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Vitamin and Minerals Global Market Report 2022provides market size and growth forecasts for the global vitamin and minerals market, global vitamin and minerals market share, vitamin and minerals market segments and geographies, vitamin and minerals market competitive landscape including leading competitors’ revenues, profiles and market shares. The vitamin and minerals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Vitamin and Minerals Industry Playersinclude Salus Haus, Pfizer, Daiichi Sankyo, AMWAY, Eisai, Sanofi, GNC, CSPC Pharmaceutical Group, DSM, Otsuka Holdings Co. Ltd, Puritan’s Pride, Pharmavite, Jamieson, Webber Naturals, Hainan Yangshengtang, Nature’s Bounty, CCMP Capital, Pharmavite, Suntory Holdings Ltd, Glanbia PLC, GlaxoSmithKline PLC, Abbott Laboratories, Bayer AG, Puritan's Pride, General Nutrition CentersInc., Webber Naturals, CSPC Pharmaceutical Group, and Hainan Yangshengtang. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
