Vitamins And Nutrition Supplements Market Overview:
According to the World Health Organization, malnutrition is one of the greatest global health challenges. Approximately 155 million children under the age of 5 years were suffering from malnutrition in the year 2016, a statistic that hasn’t experienced any alleviation since. Combating this problem requires a consistent infusion of essential nutrients, and vitamins in the bodies of children at a young age. This has been a building block for the vitamins and nutrition supplements market, which according to the analyst at IndustryARC had an estimated market size between $52 billion to $56 billion in 2018. The market is also estimated to grow at a noteworthy CAGR of 5.2%-5.6% during the forecast period of 2019-2025. Geographically, North America leads the vitamins and nutrition supplements market with a regional share of 34%-38% as of 2018 owing to Food and Agriculture Organization’s dedicated efforts towards eradicating malnutrition amongst children of America, and the world.
Vitamins And Nutrition Supplements Market Outlook:
In the current world, dietary supplements are significant in fighting malnutrition, which is equally faced by overweight, and obese people due to their poor eating habits. Vitamin and nutrition supplements are easily accessible and do not require a prescription for purchasing from the market. Nutritional supplements include antibiotics, enzymes, polyphenols, amino acids, and collagen capsules. With an increase in working class, it has become harder to acquire all the nutrients through a balanced diet alone. This drives the vitamins, and nutritional supplements market as people solicit the products for achieving their nutritional goals. These supplements are abundantly available in hypermarkets, and supermarkets which also forms the leading segment of the market, and is expected to grow at a normal CAGR of 2%-3% during the forecast period of 2019-2025.
Vitamins And Nutrition Supplements Market Drivers:
- Hidden Hunger: A Stealthy Epidemic
Contrary to popular belief, obese and overweight people are equally likely to suffer from malnutrition. Termed as ‘hidden hunger’, this is a severe problem where people get sufficient calories, but miss out on imperative nutrients. This makes products from the vitamins and nutrition market absolutely essential for the general public. International organizations like the World Food Programme are tirelessly working towards ensuring better health in the public through a combination of a balanced diet, and consumption of vitamins and nutrition supplements. Hidden hunger propels the growth of the market, and increases sales in the supermarkets.
- Lack of Essential Nutrients Causes Deficiencies
Vitamin deficiency causes many diseases in our bodies. A lack of vitamin A is attributed to night blindness, and a lack of Vitamin C causes scurvy. Vitamin D deficiency, the most common of all, causes bone pain, and muscle weakness in the body. Needless to say, in the current global scenario, with a large number of adult population working inside offices, it is not possible to meet our daily nutritional needs just by diet alone. Similarly, consumers are also embracing a holistic lifestyle for better productivity in their personal lives. This factor drives the growth of vitamin and nutrition supplements market, and helps it earn more market revenue.
Vitamins And Nutrition Supplements Market Challenges:
One of the major challenges of the vitamins and nutrition supplements market is the propagation of eating a nutritional diet. Harvard Health has disseminated the idea of acquiring all essential vitamins, and minerals through a diet alone instead of consuming vitamins, and minerals. Companies can combat this challenge by producing nutritional supplements from organic sources, and making their products more natural.
Vitamins And Nutrition Supplements Market Key Players Perspective:
The Archer Daniels Midland Company, headquartered in Chicago, Illinois is one of the key players in the vitamins, and nutrition supplements market. In 2018, the company acquired Neovia, an animal nutrition solution company for 1.56 billion in order to expand the footprint of their supplements, and introduce animal nutrition in their products as well.
Some of the other key players in the vitamins and nutrition supplements market are E.I. du Pont de Nemours & Co., Bayer AG, Koninklijke DSM N.V., Archer Daniels Midland Company, BASF SE, Glanbia PLC, Herbalife International of America, Inc., NBTY INC, Reckitt Benckiser Group plc, NutraMarks Inc., and Pharmavite LLC, Others.
Vitamins And Nutrition Supplements Market Trends:
- Consumers Gravitating Towards Organic Supplements
The rise of organic industry has reached the dietary supplements market as well. Companies are now developing 100% organic vitamins and nutrition supplements from agricultural produce which are in high demand amongst the customer base. These organic supplements have to comply with federal laws laid down by The American Herbal Products Association, Organic Trade Association, and Quality Assurance International Inc.
Vitamins And Nutrition Supplements Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the vitamins and nutrition supplements market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of vitamins and nutrition supplements market, and their specific applications in different areas.
Vitamins And Nutrition Supplements Report: Industry Coverage
The vitamins and nutrition supplements market is segmented on the basis of type, key ingredients, dispensing form, target end user, and distribution channel. On the basis of target end user, the most important, the market is bifurcated into infants, athletes, gym goers, women, and elders.
The vitamins and nutrition supplements market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Vitamins And Nutrition Supplements Market Report
Is the market demand for Vitamins And Nutrition Supplements growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for Vitamins And Nutrition Supplements market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global Vitamins And Nutrition Supplements market during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures