Global Vitamin & Mineral Supplements Market is estimated to be valued at USD 1,08,148.1 Million by 2025, registering a CAGR of 6.70% during the forecast period. The global vitamin & mineral supplements market is expected to register a notable growth rate during the forecast period. Increasing consumer awareness regarding the importance of preventive healthcare and untapped markets in developing countries are driving the market growth.
Asia-Pacific constituted a dominant share of the global Vitamin & Mineral Supplements Market Overview in 2018. The regional market is expected to exhibit a CAGR of 7.32% during the review period. The expansion of product portfolios by key manufacturers is a significant factor for the growth of the vitamin & mineral supplements market in Asia-Pacific.
The global vitamin & mineral supplements market has been segmented on the basis of type, end user, distribution channel, and region.
By type, the market has been divided into vitamin, mineral, and blends. The vitamin segment accounted for a major share of 78.50% of the global market and projected to record a CAGR of 6.65%. The geriatric population widely consumes vitamin supplements on a regular basis to address a variety of health problems. Vitamin supplements are available in tablet and capsule forms;
By distribution channel, the market has been bifurcated into store-based and non-store-based. The store-based distribution channel is estimated to retain its dominance throughout the forecast period. However, the non-store-based segment is projected to witness a higher growth rate during the forecast period. E-commerce channels help expedite this process so manufacturers may reach a wide consumer base.
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The Nature's Bounty Co. (US), Glanbia PLC (Ireland), Herbalife Nutrition Ltd. (US), Abbott Laboratories (US), Amway Corp (US), Bayer AG (Germany), GlaxoSmithKline plc (UK), Otsuka Holdings Co. (Japan), Nature's Way Products, LLC (US), and Nu Skin Enterprises, Inc. (US) as the Key Players in the Global Vitamin & Mineral Supplements Market.
Key Findings of the Study
The Global Vitamin & Mineral Supplements Market is expected to register a growth rate of 6.70% from 2019 to 2025. Increasing geriatric population across the globe is anticipated to act as a major factor for the rising growth of vitamin & mineral supplements market.
On the basis of type, the vitamin segment is expected to hold a dominant share of the market by 2025, registering a growth rate of 6.65%. The store-based segment accounted for the larger market share in 2018 and is expected to exhibit a CAGR of 6.55% during the forecast period.
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Geographically, the global vitamin & mineral supplements market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 5.92% during the forecast period.
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