The Business Research Company’s Multivitamin Capsules Global Market Report 2023 – Market Size, Trends, And Forecast 2023-2027
Driver: Nurturing Health Consciousness
The escalating health consciousness among individuals remains a key driver for the multivitamin capsules and tablets market. These supplements are often recommended by healthcare professionals to prevent or address vitamin deficiencies resulting from inadequate diets, specific health conditions, or during pregnancy, as they provide a comprehensive blend of essential vitamins not easily obtained from food alone. Moreover, heightened health concerns during the COVID-19 pandemic have contributed to an increased demand for multivitamins. According to SVC Labs Ltd., a UK-based supplement manufacturer, sales for vitamins, minerals, and supplements have surged since March 2020, reflecting a heightened interest in boosting immune health. This surge ranged from approximately 20% to 140%, underscoring the amplified focus on wellness and immune support.
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Players: Leading the Wellness Industry
Key players in the multivitamin capsules and tablets market include Herbalife Nutrition, Abbott Laboratories, Bayer, Nature's Bounty Co., Bionova Lifesciences, Ayanda GmbH, NutraMarks Inc., American Health Inc., Otsuka Holdings Co. Ltd., Nature's Way Products, Glanbia PLC., Pfizer, Mylan N.V., and Dymatize.
Trends: Embracing Flavored Gummy Vitamins
A notable trend shaping the multivitamin capsules and tablets market is the shift in consumer focus towards flavored gummy vitamins suitable for all ages. Consumers seek more convenient and enjoyable supplement options, leading to an increased preference for flavored gummy vitamins. For example, in April 2021, Persona Nutrition, a US-based company specializing in personalized daily supplement packs, introduced daily gummy vitamin packs for families. These packs are designed to help users achieve specific health goals, including immune health, focus, relaxation, everyday support, and hair, skin, and nail health, catering to a diverse set of wellness needs.
Segments: Unveiling the Health Landscape
The global multivitamin capsules and tablets market is segmented as follows:
• Type: Multivitamins Tablets, Multivitamins Capsules
• Distribution Channel: Store-Based, Non-Store Based
• Application: Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
• End User: Adults, Geriatric, Pregnant Women, Children, Infants
Region: Mapping the Wellness Terrain
Asia-Pacific secured the leading position in the multivitamin capsules and tablets market in 2022, with North America following closely as the second-largest market. The analysis report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Multivitamin Capsules And Tablets Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Multivitamin Capsules And Tablets Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on multivitamin capsules and tablets market size, multivitamin capsules and tablets market drivers and trends, multivitamin capsules and tablets market major players, multivitamin capsules and tablets market competitors' revenues, market positioning, and multivitamin capsules and tablets market growth across geographies. The multivitamin capsules and tablets market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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