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    Huge Growth In Vitamin & Supplement Industry

    Huge Growth In Vitamin & Supplement Industry
    April 7, 2022 Vitality Pro

    If there’s one thing that stands out from the data on the vitamins and supplements industry in 2021/2022 is that Covid-19 has been great for business. This rise is attributed to people turning to supplements and multivitamins to boost their nutrition, immunity, and wellbeing.

    What Do The Numbers Say?


    The global dietary supplement market is forecast to reach a market value of $185.1 billion in 2025

    $71.37 billion is the projected global vitamin supplements market size in 2028

    Online sales are expected to grow by 6.9% each year

    The revenue share of the multi-vitamin segment surpasses 40%

    The value of the gummy vitamins market share was $5.9 billion in 2020

    Millennials prefer gummy vitamins over traditional pills or capsules

    The US market’s revenue in the vitamin and supplement industry was $35.6 billion in 2021

    The projected revenue value of the amino acid segment in the Asian-Pacific region is $25.3 billion by 2028

    More than 50% of the US now takes an immunity-boosting supplement

    High Growth In Market Share Forecast

    The global vitamin supplement market is predicted to reach $71.37 billion by 2028.

    It is expected to expand at a compound annual growth rate of 6.2% from 2021 to 2028. The market is predominantly driven by the growing awareness of the association between good nutrition with good health.

    At 40% of revenue, the multi-vitamin segment will dominate the market in 2020. This large market share is due to the high demand for a blend of vitamins to improve health and wellness. In addition, the online sales share of the market is expected to grow by a compound annual growth rate of 6.9% from 2021 to 2028.

    North America dominated the market, with a revenue share of over 30% in 2020 due to increasing demand.

    Just How Big Is The Vitamin And Supplement Market?

    The US market’s revenue in the vitamin and supplement industry was a whopping $35.6bn in 2021.

    The global dietary supplement market is forecast to reach a market value of $185.1 billion in 2025. In 2021, it was estimated to be worth around $137 billion. The market has been growing since 2018 and is expected to continue until 2028.

    Among the other noteworthy geographic markets are Japan and Canada, which will grow at 4.5% and 7.4%, respectively, over the 2020-2028 period. Within Europe, Germany is forecast to grow at approximately 5.4% compound annual growth rate.

    In the global Amino Acids segment, the USA, Canada, Japan, China and Europe will drive the 7.5% compound annual growth rate forecast for this market segment. These regional markets, accounting for a combined market size of $15.3 billion in the year 2020, is projected to reach $25.3 billion by 2028.

    China will remain among the fastest-growing regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $41.4 billion by 2028. Latin America will, similarly, expand at a 9.5% compound annual growth rate through the same analysis period.

    Countries at a glance

    The global dietary supplement market is forecast to reach a market value of $185.1 billion in 2025

    The US market’s revenue in the vitamin and supplement industry was a whopping $35.6bn in 2021.

    Japan and Canada is expected to grow by 4.5% and 7.4% each year

    Germany is forecast to grow at approximately 5.4% compound annual growth rate

    USA, Canada, Japan, China and Europe will drive a 7.5% compound annual growth rate in the amino acid segment

    China will remain among the fastest-growing

    Asia-Pacific is forecast to reach $41.4 billion by the year 2028

    Latin America will expand at a 9.5% compound annual growth rate

    The projected revenue value of the amino acid segment in the Asian-Pacific region is $25.3 billion by 2028

    Market Growth Helped By Covid

    “More than 60% of consumers globally take vitamins as part of their daily regime.”

    The vitamin and supplement market showed significant growth of 10.8% in 2020 compared to the average year-on-year growth demonstrated in 2017-2019. More than 60% of consumers globally take vitamins as part of their daily regime, whereas 55% are “enticed” to take supplements to maintain a healthy and balanced life.

    Immunity boosting products have seen a spike as a result of the pandemic. More than 50% of people in the US are taking these products according to the US National Health and Nutrition Examination Survey. This trend is expected to continue as technological advancements and innovation take hold, and new research and development occur.

    The author of a September 2021 post stated the vitamin and supplement industry had seen massive growth since the COVID-19 pandemic started. Just as exercising to improve health has caught on, taking vitamins and supplements has skyrocketed.

    Bayer AG is introducing botanical additives to its supplements and has even launched a multi-vitamin aimed at people undergoing fasting during Ramadan. This multi-vitamin was established in the Indonesian market, one of the largest Muslim majority populations globally.

    This unprecedented shift towards the use of supplements is due to people seeking protection against the virus. The trend is expected to continue even in a post-Covid world.

    Growth In Types Of Supplements

    Only two years ago, over-the-counter (OTC) dietary supplement products accounted for 73.2% of the total supplement revenue. 29.5% of the global supplement revenue is from the energy and weight loss supplements segment.

    Adults were the biggest spenders on nutritional supplements, accounting for 47.2% of the revenue.

    Other immune-boosting supplements such as magnesium, probiotics, omega-3 and zinc accounted for 40% of the dietary supplement market. This category is expected to grow by 8.5% each year until 2028.

    “People are also becoming more aware of neurological diseases such as dementia, Parkinson’s disease and Alzheimer’s.”

    Supplements high in proteins and amino acids are expected to grow 13.3% annually from 2021-2028. During the same period, the popularity of tablets as the most popular dietary supplement products accounted for 34.2 to 38% of the global revenue.

    People are also becoming more aware of neurological diseases such as dementia, Parkinson’s, and Alzheimer’s. As a result, sales of brain and mental health supplements will grow by 8.5% in the next six years.

    The COVID-19 pandemic impact has resulted in a 50% increase in internet searches for immune-supporting supplements as consumers are arming themselves with information.

    According to a 2017 survey:

    • 63% of consumers preferred to make their own decisions as to what supplements to take
    • 42% preferred to take over-the-counter supplements suggested by healthcare providers
    • 41% chose home remedies
    • 40% checked with a health professional before taking any herbal supplements

    The Rise Of The Gummy Vitamin

    According to a recent report, the global gummy vitamins’ market value was $5.9 billion in 2020. It’s projected to reach $10.6 billion by 2025, recording a compound annual growth rate of 12.5%.

    The gummy vitamin market is projected to reach $10.6 billion by 2025 recording a compound annual growth rate of 12.5%

    The youth and millennials prefer gummies due to busier lifestyles, rising disposable incomes, growing awareness of preventive healthcare and maintaining better health.

    Other factors driving the demand for gummy vitamins include a rise in vitamin deficiencies as people age and undernourishment in poorer developing and underdeveloped countries.

    Gummy vitamins are chewable vitamins with taste, flavour, colour, shape, and size similar to gummy candies. However, these gummies get infused with vitamins to offer various health benefits.

    Initially, gummies expanded the customer base in the children’s market. But the novelty caught on with adults and consumers from older age groups.

    Gummies have targeted consumers looking for new forms or alternatives other than tablets, capsules, and pills. And last but not least, they are easy to consume, particularly for people with difficulty swallowing.

    The North American region, followed by Europe and the Asia Pacific, plays a vital role in the gummy vitamins market due to the concentration of several key players operating in those regions.

    “Gummies are expected to grow in the market at the fastest compound annual growth rate of 7% from 2021 to 2028.”

    Supplement Market By Region

    35.7% of the global dietary supplement market revenue came from North America, and supplements for infants grew 13% annually. The Asia Pacific held 32% of the market share.

    As Europe has a higher per capita disposable income in supplement users, the region is expected to experience a growth rate of 6.8% annually.

    The dietary supplement industry rose by 9%, reaching £494 million in value in the UK. In addition, 24% of vitamin users have increased their intake since the virus outbreak, and 36% of vitamin users take them daily to boost their immunity.

    In 2019, out of vitamin and supplement customers:

    • 58% take multi-vitamins
    • 31% take vitamin D
    • 28% take vitamin C
    • 20% take vitamin B
    • 20% take calcium

    Whatever way you look at it, the vitamin and supplement market is here to stay. After all, if you can get wellness in a bottle, why not?

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