A recent report published by Infinium Global Research on the multivitamins market provides an in-depth analysis of segments and sub-segments in the global as well as regional multivitamins market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional multivitamins market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global multivitamins market. According to the report, the global multivitamins market is projected to grow at a CAGR of 7.96% over the forecast period of 2020-2026.
Multivitamins supplements are the commonly used supplements worldwide and their popularity has increased rapidly in the past few decades. Some believe that it can improve health, compensate for poor eating habits, and even reduce the risk of chronic diseases. When food lacking with sufficient quantities of vitamins and minerals then multivitamins have become quite essential. They act as a bridge, by delivering the nutritional value, between the body’s requirement of nutrients and the insufficiency of food to deliver the same. These multivitamins are available in many forms, including, chewable gummies, powders, tablets, capsules, and liquids however the capsules and tablets are more popular.
With an increase in the aging populations in high-income economies such as the U.S., the U.K., Germany, and Japan, more people are looking for preventive healthcare management. Many consumers see this as a lifestyle choice and there is a surging demand for immunity boosters for overall health and wellness. This provides a growing demand for the multivitamins market. Again preventative healthcare costs in the U.S. also promote a culture of self-diagnosis and coupled with the advice found online, more people turn to vitamins and supplements. With a rapidly increasing interest in personal health and wellness, more and more consumers are incorporating vitamins and supplements as part of their diet. A rising occurrence of vitamin deficiencies due to lack of nutrients in the daily diet, increasing health consciousness, and support to take multivitamins tablets by fitness centers and health club is to provide growing demand for the multivitamins market. In addition, the hectic lifestyles, the habit of not taking a proper meal on time, increased consumption of fast food and processed food lead to an increase in the intake of multivitamins tablets. However, the side effects caused by overconsumption of multivitamins capsules and tablets are expected to affect the global market growth of the multivitamins market.
North America dominates the multivitamins market. The U.S. multivitamins market is made up of various highly competitive brands. In North, America multivitamins generated the highest level of sales in 2019, at around 315 million U.S. dollars. Rising awareness towards calorie reduction and weight loss in major markets including the U.S. and Canada is expected to promote a substantial growth of the multivitamins market. Furthermore, the increasing importance of protein intake in emerging countries, such as Mexico, is driving the growth of the market in this region. Moreover, new advertising campaigns for brand promotions by companies including Amway and Pfizer are expected to contribute to the growth of the multivitamins market in the North American region. Additionally, rising concerns regarding cardiovascular diseases are expected to increase consumer spending on well-being. This favorable trend in the U.S. wellbeing industry plays a key role in increasing the demand for the multivitamins market.
The report on the global multivitamins market covers segments such as form, and distribution channel. On the basis of form, the sub-markets include tablets, capsules, chewable gummies, powders, pastilles, liquids, and injectable formulations. On the basis of distribution channel, the sub-markets include store-based, and non-store-based.
The report provides profiles of the companies in the market such as Nature's Bounty Co, Amway Corp, Bayer AG, GlaxoSmithKline plc, Glanbiaplc, Herbalife Nutrition Ltd, Abbott Laboratories, Otsuka Holdings Co., Ltd, Nature's Way Products, LLC, and Nu Skin Enterprises, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the multivitamins market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.