Global Multivitamins Supplements to Surpass USD 2.7 Billion By 2031| Growth Market Reports

PUNE, India, June 9, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, " Global Multivitamins Supplements Market Segments - By Type (Premium Multi-Vitamins and Mass Multi-Vitamins), By Form (Capsule, Tablet, Gummies, Powder, and Liquid), By Target Gender & Age Group (Labeled Men and Labeled Women), By Distribution Channel (Offline and Online), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 1.63 billion in 2022 and is expected to surpass USD 2.72 billion expanding at a CAGR of 5.9% by the end of 2031. The market is fueled by the rising health consciousness and growing focus on physical fitness among global consumers.

Latest Developments

In October 2022, one of the major players in the market Haleon, and Microsoft Corp announced collaboration. The Artificial Intelligence (AI) technology by Microsoft will make health products by Haleon more accessible to blind and visually challenged individuals. With the help of Microsoft Seeing AI app consumers in UK and US will be able to hear information displayed on labels for over 1500 everyday consumer health products.

Key Market Players Profiled in the Report

• Haleon
• New Chapter, Inc.
• Bayer AG
• Nordic Naturals
• Church & Dwight Co., Inc. (VitaFusion)
• Pharmavite LLC. (Nature Made)
• Nature's Way
• Amway
• OLLY Public Benefit Corporation
• NOW Foods

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include type, form, target gender & age group, distribution channel, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments of the Multivitamins Supplements Market

On the basis of region, the global multivitamins supplements market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the market throughout the assessment period. The growing geriatric population and prevalence of different diseases has increased prescription of multivitamins supplements in the region.

The health consciousness among the individuals in the region is on the rise, owing to which the investment is boosting for development and production of different multivitamin supplements. Individuals are taking multivitamins for healthy aging, meeting regular dietary requirements, and maintaining physical fitness.

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Key Takeaways from the Study:

• Multivitamins supplements are combination of multiple vitamins, dietary minerals, and other nutritional elements. Every element in these supplements have a unique part to play in health maintenance and growth of an individual's body.
• The multivitamins prove to be supportive with regular meals and foods. They cannot replace food. Healthy diet is important for maintaining health.
• There are wide range of multivitamins supplements are available in the market. Their purpose differs based on the target group and type of vitamins and other nutrition included in them. Manufacturers get to choose vitamins and nutrition they want to include to make their products.
• One of the key drivers of the market is rising number of health-conscious consumers all over the world. The emergence of COVID-19 and other disease prevalence has inspired people to focus on their diet and health.
• The changing lifestyle and poor eating habits are also increasing demand for multivitamin supplements. These supplements are allowing individuals to meet their body's regular nutritional requirements which they may miss out getting from food they consume.
• The growing demand for multivitamins of various types and combination in sporting industry worldwide likely to increase opportunities for the market players. The number of individuals participating in sporting activities is boosting with efforts from educational and governmental organizations.
• Based on the type, the multivitamin market is divided into premium multivitamins and mass multivitamins. The premium multivitamins segment is projected to hold the substantial share of the market during the assessment period as they are most often recommended by nutritionist owing to their quality support to general health and wellness.
• In terms of target gender & age group, the market is bifurcated into labeled men and labeled women. These are further classified as 18-35, 36-50, and >50. The labeled women segment held dominant share of the market revenue in 2022, This is attributed to increasing investment in development of different women health focused multivitamin supplements.
• On the basis of distribution channel, the market is divided into online and offline. The online segment is projected to hold major share of the market revenue during the forecast period as e-commerce platforms are emerging as popular choice owing to various offers and multiple options.

Read 361 Pages Research Report with Detailed TOC on "Global Multivitamins Supplements Market Segments - By Type (Premium Multi-Vitamins and Mass Multi-Vitamins), By Form (Capsule, Tablet, Gummies, Powder, and Liquid), By Target Gender & Age Group (Labeled Men and Labeled Women), By Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

• Premium Multi-Vitamins
• Mass Multi-Vitamins

Form

• Capsule
• Tablet
• Gummies
• Powder
• Liquid

Target Gender & Age Group

• Labeled Men
• Labeled Women

Distribution Channel

• Offline
• Online

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Other Related Reports:

• Global Dietary Supplements Market Segments - by Ingredients (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, and Others), Forms (Tablets, Capsules, Soft Gels, Powders, Gummies, Liquids, and Others), Applications (Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-cancer, and Others), End-users (Adults, Geriatric, Pregnant Women, Children, and Infants), Distribution Channels (Pharmacies & Drug Stores, Supermarkets & Hypermarkets, Online Channel, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2020-2027
• Nutritional Supplements Market by Product Ingredients (Vitamin, Protein, Fatty Acids, Minerals, and Others), Forms (Capsule, Powder, Tablet, Liquid, and Others), Types (Dietary Supplements, Sports Supplements, Nutritional supplements, and Others), Distribution Channels (Hypermarkets & Supermarkets, Pharmacy Stores, Online Channels, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast From 2022 To 2030
• Global Vitamins Market by Application (Animal Feed, Healthcare, Pharmaceuticals, Food & Beverages, Personal Care Products), by Type (Vitamin B, Vitamin D, Vitamin C, Vitamin A, Vitamin E, Vitamin K), by Source (Animals, Synthetic, Natural, Plants) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
• Global Online Dietary Supplement Market by Type (Tablets, Capsules, Powder, Liquids, Soft Gels, Gel Caps), By Application (Additional Supplements, Medicinal Supplements, Sports Nutrition) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

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