According to a recent market study published by Growth Market Reports, titled, “Global Multivitamins Supplements Market by Type, by Form, by Target Gender & Age Group, by Distribution Channel, and by Region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at US$ 1,533.9 Million in 2021 and is anticipated to grow at a growth rate of 5.9% by the year 2030.

Multivitamins are supplements that include a variety of vitamins that are often obtained from the diet and other natural sources. Vitamins that are not obtained through diet are provided by multivitamins. Additionally, multivitamins are employed to treat vitamin deficiencies (lack of vitamins) brought on by a variety of conditions, including sickness, pregnancy, inadequate nutrition, digestive issues, and many others. The vitamins and minerals in MVMs each play a distinct function in the body.

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The Global Multivitamins Supplements Market has been segmented in terms of type, form, target gender & age group, distribution channel, and region. Based on type, the global multivitamins supplements market is segmented into premium multivitamins and mass multivitamins. In terms of technology, the market is segregated into capsules, tablets, gummies, powders, and liquids. On the basis of target gender & age group, the multivitamins supplements market is bifurcated into Labeled men and Labeled women. Based on the distribution channel, the market is classified as online & offline. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The COVID-19 epidemic increased attention to the need for multivitamins supplement intake. Multivitamins Supplements are crucial for the health of bones and muscles and enhance the body's immunological response to respiratory infections, according to the National Institute for Health and Care Excellence (NICE) of the United Kingdom. Additionally, it is advised that adults, children, and young people over the age of four add Multivitamins Supplements to their diets each day. This recommendation includes pregnant and nursing women. Multivitamins Supplements can increase immunity, which is important for protecting against COVID-19 because those with weak immunity are more prone to illness. As a result, the sudden rise of COVID-19 positively affected the Multivitamins Supplements market.

As per growth market reports industry analyst Raksha Sharma, “Rising awareness for various diseases and Rising Prevalence of Vitamin & Mineral Deficiency are expected to contribute to the growth of the global Multivitamins Supplements market. The market has a positive impact due to COVID–19, but it is expected to grow at a substantial pace during the forecast period.

Key Takeaways from the Study

  • The players in the global Multivitamins Supplements market include 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, Pure Encapsulations, LLC., Garden of Life, and Thorne. These hold a major market share of the global Multivitamins Supplements market in the year 2021.
  • Rise in the cases of malnutrition across underdeveloped countries, growing demand for multivitamins by athletics, rising growth in people suffering from low immunity, the surge in geriatric population, rise in self-directed care, and increasing growth of e-commerce industry are the key factors that drive the growth of the market.
  • A number of other factors are also anticipated to contribute to the market's expansion, including the expanding use of technology in the healthcare sector, the rise in disposable incomes, the expansion of organizations like gyms and fitness centers, the ongoing development by research institutes of high-quality multivitamin supplements, and joint ventures and agreements between major market players.
  • On the basis of type, the global multivitamins supplements market is bifurcated into premium multivitamins and mass multivitamins. The mass multivitamins segment is valued at USD 4,065.8 million in 2021 and is expected to reach USD 7,077.3 million by 2030, as mass multivitamins are used to boost the immune system. These are used for their long-term benefits, which drive demand for mass multivitamins and boost the segment.
  • Based on form, the global multivitamin supplements are segmented into capsules, tablets, gummies, powders, and liquids. The gummies segment is expected to expand at a CAGR of 5.8% from 2022 to 2030, as gummies are considered more appealing and easier to consume than other multivitamin dosage forms. Multivitamin gummies contain essential nutrients that boost energy, promote hair growth, and improve skin appearance.
  • Based on target gender & age group, the global multivitamin supplements market is segmented into labeled men and labeled women, which are further divided into 18-35, 36-50, and >50. The men segment held 42.2% share of the market in 2021 and is anticipated to expand at a 5.8% CAGR during the forecast period, according to an article published by NCBI it is considered that there is an additional need for vitamin D, calcium, magnesium, and omega 3 in men. Additionally, multivitamin supplements replace nutritional shortfalls in men while improving health organically. With proper intake of multivitamins supplements, men easily achieve daily nutritional requirements and obtain the necessary daily intake of all vitamins and minerals.
  • Based on distribution channels, the global multivitamin supplements market is segmented into online and offline. The offline segment is expected to grow rapidly, as offline retail stores offer more benefits to customers than online stores, such as product quality and originality.
  • On the basis of region, the global multivitamins supplements market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is anticipated to expand at a CAGR of 5.8% during the forecast period, owing to the rising expenditure on healthcare drugs and supplements in Europe, with a key focus on multivitamins supplements. According to the European Society of Cardiology (ESC), 7.6 million people over the age of 65 in Europe had heart disease in 2016. This number is expected to increase by 89% to reach 14.4 million by 2060, which is anticipated to result in a high prescription rate of multivitamin supplements. Thus, this is expected to boost the market in the coming year.

Report Scope

Report Metric

Details

Market Value in 2021

US$ 1,533.9 Million

Market Growth Rate (from 2022 to 2030)

5.9%

Historical Data

2015 & 2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (US$ Million)

Market Segments

By Type, By Form, By Target Gender & Age Group, By Distribution Channel, and By Region

Key Companies Profiled

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, Pure Encapsulations, LLC., Garden of Life, and Thorne

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.
  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.