The multivitamins market size was USD 46.63 Billion in 2021 and is expected to register a revenue CAGR of 6.1% over the forecast period, according to the latest report by Reports and Data. Globally, a large number of people are suffering from essential vitamins and minerals inadequacies. According to the World Health Organization (WHO), more than 2 billion people in the world are estimated to be deficient in key vitamins and minerals, particularly vitamin A, iodine, iron, and zinc. The majority of these people who reside in low-income countries are facing micronutrient deficiency. Global industry leaders of multivitamins are expanding market share by filling the demand gap for multivitamins products in such countries, this in turn driving the growth of the market. Moreover, rising health and fitness consciousness among consumers and growing geriatric population are expected to drive demand over the forecast period. According to WHO, the number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Doctors and nutritionists across the world are expeditiously recommending to intake of multivitamins, for several benefits such as shoring up bones, healing wounds, and bolstering health and immune system, these factors generate demand for multivitamins.
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Some Key Highlights From the Report
The synthetic vitamins segment accounted for a larger revenue share in 2021. Most of the commercial vitamins, which are available on the market are made from synthetic vitamins. These vitamins are manufactured in a lab setting and are made of fish liver oil, minerals, and other nutrients. Different laboratories may use different techniques to produce synthetic vitamins, as many can be derived from various chemical reactions. Manufacturers often prefer this process due to the cost and scarcity of natural resources. Natural vitamins are made from citrus fruit and green leafy vegetables, including oranges grapefruit, strawberries, blueberries, blackberries, broccoli, and brussels sprouts. Many consumers prefer to intake vegan-based ingredients in order to avoid minerals, also doctors and nutritionist recommends natural vitamins and such factors are driving revenue growth of the segment.
The capsule segment accounted for a larger revenue share in 2021. Capsules are an ideal form of multivitamin capsule. Capsules are generally made up of gelatin (hard or soft) and no gelatin shells, which are mostly sourced from hydrolysis of collagen such as acid, alkaline, and enzymatic. Capsules are tend to break down more quickly than tablets and it also offers faster relief from symptoms than tablet. As a result, a large number of pharma and life sciences companies adopt capsule forms in manufacturing multivitamin capsules. Vitamin tablets usually contain additives that aid in manufacturing process and magnesium stearate is usually added to vitamin tablets as a lubricant. These additives help the vitamin powder run smoothly through the tablet-making or encapsulating machine. Vitamin tablets are usually cellulose base coated to give tablets a particular color or flavor. Many consumers prefer to take immunity boosters tablets and this continued upward trend in revenue growth of the segment.
Statistical Analysis:
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Key Players covered in this report are
Pfizer Inc., Bayer AG, Glanbia PLC, GSK plc, Lonza, BASF SE, Royal DSM N.V., New Age, Inc., AIE Pharmaceuticals, Inc., and Aland (Jiangsu) Nutraceutical Co.
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Source Outlook (Revenue, USD Billion; 2019-2030)
Synthetic vitamins
Natural vitamins
Form Outlook (Revenue, USD Billion; 2019-2030)
Capsule
Tablet
Syrup
Powder
Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Pharmacy
Supermarket
E-commerce
Geographic Segment Covered in the Report:
The Multivitamins report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)
Major Points covered in this report are as below:
• The Multivitamins industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Multivitamins Market report provides key statistics on the market status of the Multivitamins manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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