Vitamins Market To Witness Unfaltering Growth During Forecast Period 2016-2027

Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Vitamins Market Research Report.

The global vitamins market is anticipated to experience a successful run throughout the forecast period (2016-2027), forecasts Market Research Future (MRFR). The market is witnessing phenomenal growth on the back of growing awareness among people about the benefits of vitamin supplements. The massive demand from health conscious population drives the market growth. General benefits are offered by vitamin supplements such as prevention of cold, reducing risk of urinary tract infection, and improving the immunity system which appeal to the mass. On account of these benefits, the sale shoots through the roof, boosting the market growth. In addition, aging population and concerned parents of small kids demand massively for these supplements. For instance, since 2013, the sale of gummy form of vitamins has observed tremendous growth in its sales.

 On the other hand, in some cases vitamin supplements can potentially cause side effects such as tooth staining, uneven heart rate and increased urination. Owing to these cons, sales go down which can negatively influence the market growth. However, despite the threat, the market will scale new heights in the future due to rising demand from various end user industries along with development of new products.

New trends are creating waves in the market, changing its dynamics such as plant based vitamin supplements. These contain plant-based nutrients, and minerals in the form of capsules. They are completely natural and come from food sources like holy basil, guava, and adaptogenic herbs. These vitamins do not contain any synthetic or additives.

Market Segmentation

The global vitamins market has been segmented on the basis of product type, form and application.

The product types in the global vitamins market are water-soluble and fat-soluble. Water-soluble is sub-segmented into vitamin b and vitamin c whereas fat soluble is sub-segmented into vitamin A, vitamin D, vitamin E and vitamin K. The Vitamin C market size is burgeoning due to its strong application scope in cosmetics, pharmaceutical, animal feed, and processed food industries.

The various forms of vitamins are capsules, tablets, granule and liquid. Capsules are highly favorable among consumers as they protect sensitive ingredients, are easy to swallow, and increase the possibility to mix various ingredients. On account of these pros, high demand for capsule forms of vitamins is observed across the globe.

By application, the market is segmented on the basis of food and beverages, animal feed, personal care and health care. Vitamin enriched food and beverages market is booming owing to customers’ focus on health and stressful and hectic lives lead by large number of population. Cereals, juices and baby food are vitamin fortified and prove to be a boon for people who have no time cook elaborate meals.

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Regional Analysis

Geographically, the global vitamins market is segmented on the basis of North America, Europe, Asia Pacific and the Rest of the World.

MRFR experts note that North America and Europe are leading the global market with the largest market share. The vitamins market’s success in the region stems from the region’s high rate of product development and the fact that consumers are quick to purchase vitamin enriched products as soon as they are introduced to the market. Sensing lucrative opportunities in the region, market players focus on product quality and indulge in strategic activities, hence fuelling the market growth. Moreover, high economy and commercialization in the region paves the way for product penetration.

On the other hand, Asia Pacific is positioned second in terms of market size. The rising per capita income in the region catapults the demand for vitamin supplements. Moreover, rapid urbanization and lifestyle changes drive consumers towards vitamin enriched products. Countries in the region such as Thailand, Vietnam, and Indonesia are becoming global destinations for manufacturing facilities which has induced the Asia-Pacific region to become a major market for vitamins.  Also, there is a massive demand for vitamins in personal care industry in the region, for instance, Vitamin e possesses skin benefits such as reduction of sun burns and strengthening of skin barrier.

Lastly, Middle East and Africa represent a region with a huge potential for vitamins supplements in coming years. Growing economy and increasing industrialization are expected to stimulate the vitamins market in the region.

Competitive Dashboard

Reckitt Benckiser Group PLC, ADM, Pfizer, BASF SE, Amway, and Vitamin Shoppe are some of the key players competing in the global vitamins market.

Industry News

Power Gummies, India, is launching chewable vitamins in the form of gummy bears. The new multivitamin product range provides essential nutrients that supplement the dietary deficiencies of our body in a tasty and chewable way. The product was developed in order to replace difficult to swallow pills. This way the company caters to the large mass of customers looking for convenient form of consuming vitamins and further establishes its customer base in the vitamins market.