Vitamin Supplements Market: Global Industry Analysis and Forecast (2024-2030) By Type, Water Depth and Region

Vitamin Supplements Market Overview

The vitamin supplements market encompasses products that provide essential vitamins and minerals in concentrated forms, often in pills, capsules, tablets, powders, or gummies. These supplements are intended to supplement dietary intake and address nutritional deficiencies, promoting overall health and wellness.

 

The vitamin supplements market will thrive as consumers become more aware of health benefits preventive healthcare practices and lifestyle changes. This expansion is being driven by rising disposable incomes and an aging population seeking nutritional assistance. Vitamin supplements are widely available in pharmacies, supermarkets, online retailers, and direct selling channels, serving a wide range of consumer demographics such as adults, the elderly, and pregnant women.

 

Demand for vitamin supplements remains strong in North America, Europe, and Asia-Pacific, with key countries such as the United States, Germany, and China dominating both production and consumption. Major vitamin supplement manufacturers in North America include The Nature's Bounty Co., Pharmavite, and NOW Foods, while BASF and DSM are key players in Europe. Zhejiang Garden Biochemical stands out in Asia-Pacific's vitamin supplements market due to its significant production capabilities in the vitamin supplements market.

 

This growth is owing to ongoing investments in the vitamin supplements market in terms of production capacity, research and development, and strong consumer demand for nutritional supplements around the world.

 

The top 5 Importers in the Vitamin Supplements Market are Vietnam, Guatemala, India, the United States, and the Philippines. The top 5 Exporters in the Vitamin Supplements Market are the United States, Vietnam, India, China, and Japan.

 

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Vitamin Supplements Market Trend

The expansion of herbal and organic vitamin supplements will drive the global market

The growing trend towards herbal and organic vitamin supplements is expected to have a significant impact on the global vitamin supplements market by shifting consumer preferences toward natural and sustainable products. Growing health consciousness and concerns about synthetic ingredients have fuelled demand for plant-based vitamin supplements, which are regarded as safer and more beneficial.

 

Major vitamin supplement market manufacturers are responding by developing innovative formulations that include herbal extracts and organic ingredients known for their health benefits and perceived purity. This shift appeals to health-conscious consumers while also tapping into the growing market for clean-label products. As a result, the vitamin supplements market is expected to grow as companies invest in research, product development, and marketing strategies to meet the evolving consumer demand for herbal and organic vitamin supplements.

 

For instance,

• In 2021, Nestle acquired The Bountiful Company, known for its Nature's Bounty brand, which includes herbal and organic supplements, for $5.75 billion. This acquisition highlighted Nestlé's strategy to expand its presence in the health and wellness segment with a focus on natural products.
• In 2022, Pfizer launched a new line of organic vitamins under its Centrum brand, catering to the growing consumer demand for organic and natural supplements.
• In 2023, GSK (GlaxoSmithKline) partnered with organic farms in Europe to ensure a sustainable supply chain for the vitamin supplements market using herbal ingredients. This collaboration aimed to enhance transparency and quality in sourcing.

 

Vitamin Supplements Market Dynamics

Fuelling Fitness and Wellness: Vitamin Supplements Market Surges amid Global Health Awakening

In the vitamin supplements market, sports nutrition has also been trending due to a shift in emphasis toward fitness and wellness among the adult population. Through social media platforms and endorsements, fitness professionals, athletes, and enthusiasts encourage people to stay healthy and fit. For instance, in December 2022, Amway India, a key player in the market, launched the campaign “Passion Ko Do Poshan” with Mirabai Chanu, an Indian weightlifter, to market its product line in Vitamin Supplements Market and Nutrilite. In addition, as the worldwide population suffering from conditions such as obesity, diabetes, and cardiovascular disorders grows day by day, individuals are encouraged to embrace a healthy lifestyle that lowers the risk of developing such disorders.

 

Furthermore, awareness about maintaining a nutritious diet to meet nutritional necessities has been gaining momentum in the vitamin supplements market. Governments globally, particularly in developing countries where malnutrition is highly prevalent, continuously introduce initiatives to enhance the health conditions of individuals. For instance, in June 2022, the "Supplement Your Knowledge" initiative was launched by the U.S. Food and Drug Administration (FDA) to inform, educate, and enhance knowledge of dietary supplements among educators, customers, and healthcare professionals. Vitamin supplementation has been pivotal in enhancing the status of malnutrition in some countries.

 

Stringent regulations are significantly impacting the launch timelines of new vitamin supplements

The vitamin supplements market faced significant challenges in 2023 and will continue during the forecast period, primarily due to stringent regulations and a revised tax structure. Manufacturers must navigate complex compliance requirements, including extensive safety testing and documentation, before product launches, which can lead to delays and increased costs. Regulatory bodies like the FDA and EFSA enforce rigorous standards, further complicating the approval process. Additionally, a rise in taxes in South America by 5–10% on dietary supplements hampers market expansion. These hurdles may deter new entrants and slow innovation, impacting the overall growth trajectory of the vitamin supplements market during the forecast period.

 

Vitamin Supplements Market Segment Analysis

Based on type, the multivitamin supplements segment held the largest vitamin supplements market share in 2023 owing to their widely varied compositions and characteristics. The growing adoption of preventive healthcare products in the vitamin supplements market for a healthier lifestyle and to reduce the risk of various illnesses has promoted the use of multivitamin supplements.

 

Moreover, increased consumer awareness regarding the association between diet and health has fuelled the demand for vitamin supplements, specifically multivitamin supplements. Multivitamin supplements are widely consumed by various groups, including working professionals and sports athletes. The National Institute for Health and Care Excellence (NICE) in the UK emphasizes that multivitamins and vitamin D are crucial for bone and muscle health, and they help boost the body's immune response to respiratory viruses. 

 

For instance,

• In 2022, Major pharmaceutical companies like Pfizer, GSK, Bayer, and Merck launched enhanced multivitamin products fortified with additional nutrients like probiotics and omega-3 fatty acids, catering to the growing consumer demand in vitamin supplements market.

 

Government Campaign & Initiatives in Vitamin Supplements Market in 2023

• American Heart Association (AHA) in the United States collaborated with nutritionists and fitness influencers to educate the public about the role of multivitamins in cardiovascular health.
• British Dietetic Association (BDA) in the UK partnered with fitness influencers to highlight the importance of multivitamin supplements in maintaining overall health and well-being.
• Health Canada launched the campaign named "Enhancing Immunity with Multivitamins" to emphasize the role of multivitamins in supporting immune health and overall wellness.

Based on Distribution Channel, Supermarkets and hypermarkets held the largest vitamin supplements market share in 2023, owing to the convenience, wide reach, and accessibility of purchasing vitamin supplements in bulk, which drove consumer preferences. The appeal of one-stop shopping for groceries and supplements under the same roof further solidified their position. Consumers often prefer the ease of comparing brands and prices physically, which boosts sales in these retail environments. Moreover, the assurance of quality and authenticity associated with reputable supermarket chains plays a pivotal role in driving consumer confidence and purchase decisions in the vitamin supplements market.

 

Retail pharmacies also held a significant share of the vitamin supplements market in 2023. They provide a secure environment for consumers to purchase vitamin supplements, which are often accompanied by professional advice. The presence of knowledgeable staff boosts consumer confidence, making pharmacies a popular choice among many. Furthermore, pharmacies frequently stock a diverse selection of specialized supplements addressing specific health concerns, appealing to niche consumer segments in the vitamin supplements market seeking targeted nutrition solutions.

 

For instance,

• In March 2023, Walmart expanded its health and wellness product line by introducing a new range of organic vitamin supplements under its Great Value brand. This move reflects the growing consumer demand for organic options in convenient shopping environments.
• In January 2024, several Supermarket chains launched promotional campaigns to promote vitamin D and C supplements during "New Year, New You" health initiatives.
• In 2023, Rite Aid significantly expanded its range of specialized vitamin supplements, including those targeting immune support and digestive health, catering to niche consumer segments looking for targeted nutrition solutions.
• In 2023, Amazon reported a 30% increase in vitamin supplement sales. This trend is expected to continue as consumers prefer the convenience of online shopping.

Vitamin Supplements Market Regional Insights

The vitamin supplement market is expected to continue its robust growth, driven by increasing health awareness and lifestyle changes among consumers. The North American vitamin supplements market accounted for the majority of the global market share in 2023, and it is expected to maintain a steady growth rate over the forecast period. The rising prevalence of obesity and lifestyle-related diseases has prompted consumers in this region to seek functional foods and vitamin supplements that offer health benefits beyond basic nutrition. Multivitamins, in particular, have emerged as a significant segment in the vitamin supplements market due to growing awareness of their role in overall health and bodily maintenance.

 

In contrast, the Asia-Pacific vitamin supplements market is anticipated to experience rapid growth from 2023 to 2030. This surge is largely attributed to key players entering untapped Southeast Asia for the vitamin supplements market. Countries like China, India, and Japan dominate the vitamin supplements market due to their large populations and increasing consumption levels. Enhanced awareness of the health benefits of vitamin supplements in countries such as Japan and Australia is expected to further strengthen regional growth.

 

For instance,

• In 2024, Nature's Sunshine Products entered the Australian market, focusing on herbal and organic vitamin supplements, capitalizing on the region's health-conscious consumer base.
• In 2022, Bayer AG launched a new line of organic vitamin supplements in Germany, responding to the growing demand for natural products.
• In 2023, The National Institute for Health and Care Excellence (NICE) in the UK recommended incorporating vitamin D into daily dietary intake, influencing North American consumers to follow suit.
• In 2023, the UK government initiated a campaign promoting the health benefits of vitamin D, particularly during winter months, which increased awareness and sales of vitamin D supplements.

 

Vitamin Supplements Market Competitive Landscape

Key players operating in the vitamin supplements market are adopting various steps to increase their presence. These steps include strategies such as partnerships, mergers & acquisitions, development & launch of new products, global expansions, redesigning their packaging, and others.

 

• In February 2023, Amway Corp. introduced a new range of nutrition supplements under its Nutrilite brand. The products, including gummies and jelly strips, are designed to meet the nutritional needs of busy millennials. The range includes supplements for overall health and immunity, bone health, and eye health.
• In February 2023, Bayer AG announced the expansion of its "Nutrient Gap Initiative" to improve access to nutrition. It aims to expand access to essential vitamins and minerals to 50 million individuals in underserved communities by 2030. The program primarily emphasizes nutritional supplementation as a vital tool in establishing a robust defense against malnutrition within these populations.

 

Vitamin Supplements Market Scope

Vitamin Supplements Market
Market Size in 2023	USD 55.28 Bn.
Market Size in 2030	USD 93.34 Bn.
CAGR (2024-2030)	7.77%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Vitamin Supplements Market Segments	By Type Vitamin A Vitamin B Vitamin C Vitamin D Vitamin E Vitamin K Multivitamin
	By Form Powder Tablets Capsules Softgels Gummies Others
	By Distribution Channel Supermarkets/Hypermarkets Retail Pharmacy Online sales Others
	By End-user Paediatric Adults Geriatric Pregnant Women Children and Infants
Regional Scope	North America – United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Russia, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa – South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Vitamin Supplements Market Key players

North America

1. Amway Corp. (US)
2. ADM (Archer Daniels Midland Company) (US)           
3. Pharmavite (US)
4. GSK Plc (US)
5. Fullwell LLC (US)
6. Garden of Life, LLC (US)
7. The Nature's Bounty Co. (US)
8. NOW Foods (US)
9. Pfizer (US)

Europe

1. BASF (Germany)
2. Bayer (Germany)
3. Glanbia PLC (Ireland)
4. Koninklijke DSM NV (Netherlands)
5. SternVitamin GmbH (Germany)
6. Vitablend Nederland BV (Netherlands)
7. Merck (Germany)

Asia Pacific

1. Zhejiang Garden Biochemical High-Tech Co., Ltd (China)
2. Resonac (Japan)
3. Healthy Life Pharmaceuticals Private Limited (India)
4. Sanofi (India)
5. Cipla (India)