Vitamin Supplements Market Trend | COVID-19 Pandemic Impact, Global Analysis and Forecast to 2025
Market Overview
Vitamin supplements are the products intended to provide Vitamins which may not be entrenched into the body by regular diets. Vitamins are the essential organic compound required to live a healthy life, and to have a strong metabolism. To increase the efficiency of the vitamins additional supplements have been used having dietary ingredients to add more nutrition and value to health of a living being. It finds widespread applications that include the sports nutrition, dairy nutrition, herb supplements and pharmaceutical as a major part of use of supplements.
Global Vitamin Supplements Market Trend is booming owing to the consumer’s inclination towards personal fitness and Healthy diet. The Embryonic market of Vitamin Supplements is driven by consistent positive results demonstrated by these supplements, advent technologies and its diverse use. Factors such as consumer interest towards personal fitness and healthy diet coupled with the rising population, changing lifestyle, increased per capita income and increase in Vitamin care costs are contributing to the market growth globally.
On the other hand factors such as; intense competition is inhibiting the growth of this market as it is not easy for new competitors to enter into to the market and compete with the well established players whose supplements are preferred the most.
Competitive Analysis
The Vitamin supplements market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. Manufacturers and distributors of Vitamin supplements and Vitamin ingredients are responsible for evaluating the safety and labelling of their products before marketing to ensure that they meet all the requirements of DSHEA and FDA regulations.
Market Segments
Global Vitamin supplements Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding; By Type: Comprises Vitamin D, Vitamin C, Vitamin A, Vitamin B. By Application: Healthcare, Personal care, Food & Beverages. By End User: Adult Women, Adult Man. By Regions: North America, Europe, APAC and Rest of the World.
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Regional Analysis
The North America and European Vitamin Supplements market accounted for the market share of more than 25% in 2014. Since the last decade these markets have been the second strongest markets for vitamin supplements. The U.S. is the largest country in North America and one of the leading manufacturers and consumer of Vitamin Supplements globally. On the other hand Italy, Germany, France, Sweden, and U.K. Germany and France have shown a promising demand for Vitamin supplements, which is further expected to continue in during the forecast period.
Asia-Pacific is the largest market for vitamin supplements, accounting for 31.4% global market share. Consumer awareness about the benefits of vitamin supplements and product availability are the major drivers in the region. Increasing aging population is expected to increase the demand for vitamin supplements in the Asian region.
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