Vitamin Supplements Market is Estimated to Witness High Growth Owing to Increasing Consumer Awareness Regarding Nutritional Deficiency
Vitamin supplements are chemical compounds that people commonly consume as dietary supplements to help their overall health and wellness. These supplements provide the essential vitamins and minerals that the human body needs but cannot produce itself or cannot obtain in sufficient quantities. Vitamin supplements come in many different formulations like tablets, capsules, gummies, powders etc. to match different consumer needs and preferences. These supplements help prevent or treat vitamin deficiency especially in busy urban lifestyles where people are unable to get all required nutrients from diet alone.
The Global Vitamin Supplements Market is estimated to be valued at US$ 52.59 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Vitamin Supplements are BASF SE, Royal DSM, Lonza, Nature Made, Pharmavite, Life Extension, Garden of Life, Standard Process, Klean Athlete, MegaFood, Abbott Laboratories, Herbalife International. These players are launching innovative products containing vitamins, minerals, and plant-based extracts to cater to evolving consumer preferences for natural and herbal supplements.
The key opportunities in the Vitamin Supplements Market Size include rising adoption of vegan and vegetarian diets due to health and sustainability reasons leading to increased demand for supplements containing vitamins and minerals usually obtained from animal-based diets. Emerging economies are also witnessing rapid urbanization which is driving busy lifestyles and lack of nutrition from diet alone thereby boosting the demand for supplements.
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