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Shift in consumer preferences due to increasing focus on health and prevention and rising prevalence of chronic diseases

VANCOUVER, BC, CANADA, January 16, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the vitamins and supplements market is predicted to grow at a rate of 6.9% over the forecast period, reaching a value of USD 108.4 billion in 2021. Some significant variables anticipated to promote market revenue growth between 2022 and 2030 include a change in consumer preferences brought on by an increased focus on health and prevention as well as the rising prevalence of chronic diseases.

Another element supporting the market's revenue growth is customers' growing awareness of the importance of their health. Vitamins and dietary supplements are increasingly made from a variety of materials. The food and nutrition industries have developed to give clients a more individualised experience and supplement nutrition to make up for dietary loss. Another reason driving higher demand for vitamins and supplements is the rising incidence of chronic disorders. According to predictions from the World Health Organization, the prevalence of chronic diseases was over 57% in 2021. This shows that more than 50% of individuals globally suffer from a chronic illness, with diabetes, cancer, and heart and lung conditions being the most common. A variety of vitamins, minerals, and nutrients must be consumed daily to ensure excellent health and, more importantly, a robust immune system that can fend against chronic diseases. For instance, because it is believed to boost people's immune systems, vitamin D is widely recommended for preventing viral and bacterial diseases. Inflammation that is brought on by Non Communicable Diseases (NCDs), such as diabetes and obesity, may also be decreased by vitamin D.

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Some Key Highlights from the Report

In terms of revenue, the geriatric category dominated the vitamins and supplements market in 2021. Elderly people's growing need for important vitamins like vitamin D and vitamin B is a key driver driving demand in this market. Elderly people are regularly found to have vitamin D and vitamin B deficiencies, which can raise their risk of developing osteoporosis and other age-related diseases. In addition, vitamin D promotes bone health, fights depression, and shields against colds. Additionally, an ageing population in regions like North America, Europe, and Asia Pacific is expected to fuel market revenue growth over the course of the projected period.

During the projected period, the Over-The-Counter (OTC) segment is anticipated to contribute significantly to revenue. It is projected that initiatives to improve healthcare infrastructure and the adoption of beneficial laws by the majority of governments throughout the world would have an impact on the acceptance and expansion of OTC dietary supplements. OTC dietary supplement companies are attempting to improve the functionality of their products, which will likely present significant market development potential.

In 2021, the offline market contributed a large portion of revenue. Brick and mortar stores or direct-to-consumer marketing are two offline distribution methods (DTC). Offline subcategories include, for example, supermarkets/hypermarkets, pharmacies, specialty shops, practitioners, and other direct-to-consumer channels offering nutritional supplements. Supermarkets and hypermarkets play a significant role in the sale of nutritional supplements in North America and Europe due to their greater ubiquity.

Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Vitamins and Supplements market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Vitamins and Supplements market and pinpoint the fundamental growth trends.

Companies profiled in the global Vitamins and Supplements market:

Herbalife International of America, Inc., Archer-Daniels Midland Company, Amway Corporation, Pfizer, Inc., Abbott, Nestle S.A., Nutrition and Biosciences (DuPont de Nemours, Inc.), Bayer AG, Glanbia PLC, and Arkopharma.

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Target Audience of the Global Vitamins and Supplements Market Report:

Key Market Players

Investors

Venture capitalists

Small- and medium-sized and large enterprises

Third-party knowledge providers

Value-Added Resellers (VARs)

Global market producers, distributors, traders, and suppliers

Research organizations, consulting companies, and various alliances interested in this sector

Government bodies, independent regulatory authorities, and policymakers

Emergen Research has segmented the vitamins and supplements based on ingredient, form, application, end-users, type, distribution channel, and region:

Ingredient Outlook (Revenue, USD Billion, 2019 - 2030)

Vitamins

Supplements

Form Outlook (Revenue, USD Billion, 2019 - 2030)

Tablets

Capsules

Soft Gels

Powders

Gummies

Liquids

Application Outlook (Revenue, USD Billion, 2019 - 2030)

Immunity

Brain/Mental Health

Bone & Joint Health

Menopause

Metabolic Health

Beauty Care

Digestive & Microbiome Health

Others

End-Users Outlook (Revenue, USD Billion, 2019 - 2030)

Adults

Geriatric

Pregnant Women

Children

Infants

Type Outlook (Revenue, USD Billion, 2019 - 2030)

OTC

Prescribed

Distribution Channel Outlook (Revenue, USD Billion, 2019 - 2030)

Offline

Online

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Points Covered in This Section:

Regional contribution

Estimated revenue generation

Vital data and information about the consumption rate in all the leading regional segments

An expected rise in market share

Forecast growth in the overall consumption rate

Additional information offered by the report:

Along with a complete overview of the global Vitamins and Supplements market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.

The report elaborates on the global Vitamins and Supplements market size and share governed by the major geographies.

It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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