Authored By: Sarah
23 Dec 2020

Vitamins Market Size to Grow by USD 28.04 bn During 2020-2024

Technavio has been monitoring the vitamins market and it is expected to grow by USD 28.04 bn, accelerating at a CAGR of almost 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Vitamins Market: North America to lead market growth during the forecast period

  • 39% of the market growth will originate from North America during the forecast period.
  • Growth in geriatric population will be a key trend that will influence market growth significantly.
  • The Increasing number of product launches will be a significant factor in driving the growth of the vitamins market.

Global Vitamins Market

Vitamins Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Archer Daniels Midland Co., BASF SE, Bluestar Adisseo Co. Ltd., DSM, Lonza Group Ltd., Nestlé SA, Pfizer Inc., Sanofi, The Procter & Gamble Co., and and Unilever Group. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Vitamins Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive vitamins market growth during the next five years
  • Precise estimation of the vitamins market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the vitamins market industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of vitamins market vendors

Vitamins Market Size to Grow by USD 28.04 bn through 2020-2024

The vitamins market is expected to grow by USD 28.04 bn, accelerate at a CAGR of almost 8% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report

Vitamins Market: Segmentation by Application

This report provides a detailed analysis of the market by Application (Food and beverages, pharmaceuticals and cosmetics, and feed additives) and Geography (North America, APAC, Europe, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Global Vitamins Market

Vitamins Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Archer Daniels Midland Co., BASF SE, Bluestar Adisseo Co. Ltd., DSM, Lonza Group Ltd., Nestlé SA, Pfizer Inc., Sanofi, The Procter & Gamble Co., and and Unilever Group. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

Vitamins Market 2020-2024 | Growth in the Geriatric Population Will Boost the Market Growth With a CAGR of Over 8%

Technavio has been monitoring the Global Vitamins Market and it is expected to grow by USD 28.04 billion accelerate at a CAGR of over 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Global Vitamins Market

Vitamins Market: The Demand From the Aging Population Is a Significant Factor Driving the Need for Vitamins

The aging population is becoming increasingly conscious of degenerative diseases such as Alzheimer's and Parkinson's. Supplements are usually taken to supply essential nutrients such as vitamins D, C, B12, calcium, iron, omega-3, and protein, among others. Another factor that will increase the demand for vitamin supplements is the higher spending power among baby boomers. The regular consumption of vitamin supplements will help older consumers to remain fit and steer clear of sedentary post-retirement lifestyles. With older people focusing more on their lifestyle and health, the demand for vitamin-based products is set to surge during the forecast period.

Increasing health consciousness among consumers is also positively impacting vitamins market growth. Consumers, especially the younger population, are focusing on their health and wellness. Moreover, the rising incidence of obesity and related diseases is making consumers opt for food and beverages products that are low in fat and rich in minerals. This will increase the demand for vitamins from the food and beverages segment. The demand from the aging population, coupled with the increasing health consciousness among consumers, will drive vitamins market growth at a CAGR of over 8% during the forecast period.

Vitamins Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Archer Daniels Midland Co., BASF SE, Bluestar Adisseo Co. Ltd., DSM, Lonza Group Ltd., Nestlé SA, Pfizer Inc., Sanofi, The Procter & Gamble Co., and Unilever Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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