Authored By: Sarah
11 Jul 2024

 Multivitamin And Mineral Supplements Market Size to grow by USD 2978.8 million between 2024-2028

According to a research report “ Multivitamin And Mineral Supplements Market” by Application (Eye health supplements, Bone and joint supplements, Heart health supplements, Other supplements) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2978.8 million, at a CAGR of  4.5% during the forecast period. The global population aged 60 and above is projected to increase from 1 billion in 2020 to 1.4 billion by 2030. This demographic shift has led to a heightened focus on preventative health measures, particularly among baby boomers, to mitigate age-related degenerative conditions such as Alzheimer's and Parkinson's. As aging often results in reduced food intake, leading to nutrient deficiencies, multivitamin and mineral supplements have gained popularity. These supplements are essential for complementing key nutrients, including vitamin D, calcium, iron, vitamin C, vitamin B12, omega-3, and protein, to support overall health and wellness.

Browse market data tables, figures, and in-depth TOC on “Multivitamin And Mineral Supplements Market” by Application (Eye health supplements, Bone and joint supplements, Heart health supplements, Other supplements) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Application, the Eye health supplements segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The multivitamin and mineral supplements market represents a significant business opportunity due to the growing health consciousness and nutritional deficiencies in modern diets. These supplements cater to various demographics, including adults, children, and athletes, offering essential vitamins and minerals for optimal health and wellness. Market growth is driven by factors such as increasing consumer awareness, expanding distribution channels, and innovative product development.

North America is forecasted to hold the largest market size by region in 2024

The multivitamin and mineral supplements market represents a significant business opportunity due to the increasing consumer awareness regarding the importance of maintaining optimal nutritional health. These supplements cater to the daily dietary needs of individuals, particularly those with nutritional deficiencies or restrictive diets. Market growth is driven by factors such as hectic lifestyles, aging populations, and the rising prevalence of chronic diseases. Key players in this market focus on innovation, product differentiation, and strategic partnerships to cater to diverse consumer segments and stay competitive.

The Multivitamin And Mineral Supplements Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbott Laboratories
  • Amway Corp.
  • Archer Daniels Midland Co.
  • BASF SE
  • Bausch Health Companies Inc.
  • Bayer AG
  • Cargill Inc.
  • Glanbia plc
  • Innophos Holdings Inc.
  • International Flavors and Fragrances Inc.
  • Kappa Ingredients GmbH
  • Natures Bounty
  • New Chapter Inc.
  • Otsuka Pharmaceutical Co. Ltd.
  • Pfizer Inc.
  • Pharmavite LLC
  • Pinnacle Health Nutrition Ltd.
  • Reckitt Benckiser Group Plc
  • Swisse Wellness Pty Ltd.
  • ZeaVision LLC
.

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Research Analysis Overview

The multivitamin and mineral supplements market is a significant sector in the preventative healthcare products industry. With increasing awareness of the importance of maintaining good health and diet, production efficiency of these supplements has been a top priority for manufacturers. Regulations and approvals from food standards agencies and health organizations play a crucial role in ensuring the safety and efficacy of these dietary supplements. The market caters to various demographics, including children, geriatric population, health-conscious consumers, and monogastric animals. The aging population, in particular, is a growing market due to the increased prevalence of age-related diseases and the need for micronutrient supplementation. Multivitamin and mineral supplements come in various forms, including soft gels, capsules, and tablets. Vitamin D, a vital micronutrient, is a popular supplement due to its role in bone health and immune function. Consumers seek these supplements to mitigate the health consequences of poor diet and micronutrient status. Disease prevalence and dietary approaches have also influenced the market's growth. For instance, the rising trend of veganism and vegetarianism has led to an increase in demand for plant-based vitamin and mineral supplements. The market's future looks promising as more consumers prioritize their health and seek to maintain optimal micronutrient status through supplementation.

Market Research Overview

The Multivitamin and Mineral Supplements market encompasses a wide range of nutritional products, including those for pet care, food products for humans such as ice cream, dairy products, plant-based foods, culinary products, coffee, baby foods, confectionery, chocolates, cereals, bottled water, beverages, and various dietary supplements. This market caters to unisex, women, and men, offering blends for pediatric nutrition, sports nutrition, protein, botanicals, natural herbs, and immunity boosters. Brands like Nature's Bounty dominate the market, with acquisitions and innovations driving growth. Deficiencies in essential vitamins and minerals due to untimely death, disorders, diseases, sedentary lifestyle, and junk food consumption have fueled the demand for preventative healthcare products. Production efficiency, approvals, regulations, and food standards are crucial factors in this market. The aging population, health conscious consumers, and the prevalence of diseases such as Vitamin D deficiency have further boosted the market. Consumers seek health consequences mitigation through micronutrient status improvement, making minerals and vitamins essential. Monogastric animals also benefit from multivitamin and mineral supplements. Soft gels form, capsule form, and tablet form are popular choices for consumers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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