Vitamin Supplements Market To Reach $84.95 Billion By 2030

Vitamin Supplements Market Growth & Trends

The global vitamin supplements market size is expected to reach USD 84.95 billion by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 7.3% from 2023 to 2030. The market for vitamin supplements is mostly driven by rising consumer knowledge of nutrition, health, and well-being. The market is anticipated to grow as a result of increased consumer awareness of the nutritional advantages of dietary supplements, including vitamin supplements, due to campaigns launched by non-governmental organizations, governmental bodies, and companies.

Recent product introductions by big and small businesses have included organic and natural components, which has increased demand for vitamin supplements. In addition, the utilization of appealing packaging techniques has raised consumer awareness, which has, in turn, encouraged the purchase of such supplements. Consumers are more concerned about their health and favor goods that use less synthetic chemicals. Another significant element driving the demand for vitamin supplements is consumers' growing preference for nutritious foods and their willingness to spend more for them, particularly when purchasing goods like gummies and candies for kids.

Based on type, the multivitamin supplements segment led the market in 2022 and is expected to witness progressive growth during the forecast period. Multifunctionality is a crucial trend in the supplements market, exemplified by companies such as Blackmores, Vemedia Pharma, Nature Made, Dompé, Ritual, and Holland & Barrett. Multifunctional products offered by these companies are centered on a holistic approach to health and address various aspects of well-being simultaneously. This comprehensive approach appeals to consumers seeking a one-stop solution to their health needs, further boosting the demand for multivitamins.

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Vitamin Supplements Market Report Highlights

• Based on region, Asia Pacific is expected to grow with the fastest CAGR over the forecast period from 2023 to 2030. The increasing awareness regarding the health benefits of vitamin supplements in the region is a key factor surging the market growth

• Based on form, the gummies segment is estimated to grow with the fastest CAGR over the forecast period. The increasing popularity of gummies vitamin supplements is fueling market growth

• Based on distribution channel, the online segment is expected to grow with a faster CAGR over the forecast period from 2023 to 2030. The high convenience provided by the online channels is anticipated to contribute to the growth of the segment

Vitamin Supplements Market Segmentation

Grand View Research has segmented the global vitamin supplements market based on type, form, distribution channel, and region:

Vitamin Supplements Type Outlook (Revenue, USD Billion, 2017 - 2030)

• Multivitamin

• Vitamin A

• Vitamin B

• Vitamin C

• Vitamin D

• Vitamin E

• Vitamin K

Vitamin Supplements Form Outlook (Revenue, USD Billion, 2017 - 2030)

• Powder

• Tablets

• Capsules

• Softgels

• Gummies

• Others

Vitamin Supplements Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

• Offline

  • Pharmacies & Drugstores

  • Hypermarkets/Supermarkets

  • Others

• Online

Vitamin Supplements Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia & New Zealand

• Central & South America

  • Brazil

  • Chile

• Middle East & Africa

  • South Africa

  • UAE

List of Key Players in the Vitamin Supplements Market

• Glanbia plc

• Pfizer Inc.

• Bayer AG

• Amway Corp.

• GlaxoSmithKline plc.

• Good Health New Zealand

• The Nature's Bounty Co.

• NOW Foods

• Abbott

• Herbalife Nutrition

• Nature's Sunshine Products, Inc.

• NU SKIN

• RBK Nutraceuticals Pty Ltd.

• American Health, Inc.

• Pharmavite