The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s multivitamin capsules and tablets market report forecasts the multivitamin capsules and tablets market size to grow to $33.05 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

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Multivitamin Capsules And Tablets Market Size Forecast
The global multivitamin capsules and tablets market is expected to grow from $20.28 billion in 2022 to $22.38 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multivitamin capsules and tablets market size is expected to grow to $33.05 billion in 2027 at a CAGR of 10.2%.

Asia-Pacific held the largest multivitamin capsules and tablets market share.

Key Multivitamin Capsules And Tablets Market Driver ­– Increase In Health Consciousness Among Individuals
According to SVC Labs Ltd., a UK-based supplement manufacturer the sales for vitamins, minerals and supplements have increased since the beginning of March 2020 as people are concerned with boosting immune health. The sales of vitamins, minerals, and supplements have experienced growth of approximately 20%-140% since March 2020. Therefore, rising health consciousness is expected to drive the multivitamin capsules and tablets market during the forecast period.

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Key Multivitamin Capsules And Tablets Market Trend – Shifting Consumer Focus Towards Flavored Gummy Vitamins For All Ages
Consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move toward flavored gummy vitamins. For instance, in April 2021, Persona Nutrition, a US-based company that provides personalized daily supplement packs launched daily gummy vitamin packs for the entire family. These daily packs are designed to help users achieve specific health goals, such as immune health, focus, relaxation, everyday support, and hair, skin, and nail health. This family pack includes multivitamins to boost muscle and nerve function.

Multivitamin Capsules And Tablets Market Segment
1) By Type: Multivitamins Tablets, Multivitamins Capsules
2) By Distribution Channel: Store Based, Non-Store Based
3) By Application: Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
4) By End User: Adults, Geriatric, Pregnant Women, Children, Infants

Multivitamin Capsules And Tablets Market Major Players and Strategies
Major players in the multivitamin capsules and tablets market are 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.

In February 2021, Nature’s Way Products, a US-based wellness product manufacturing company, acquired Baze Labs for an undisclosed amount. Through this acquisition, Nature’s Way increases its personalized nutrition product capabilities for its customers, home blood test services, and monthly subscription programs. Baze Labs is a US-based personalized nutrition manufacturing company specializing in the development of vitamins and supplements.

The Multivitamin Capsules And Tablets Global Market Report 2023 covers regional data on multivitamin capsules and tablets market size, multivitamin capsules and tablets market trends and drivers, opportunities, strategies, and multivitamin capsules and tablets market competitor analysis. The countries covered in the multivitamin capsules and tablets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Multivitamin capsules and tablets refers to multivitamin drugs that are used to treat or prevent vitamin deficiencies brought on by a poor diet, specific diseases, or pregnancy. Vitamins are crucial for maintaining your health because they serve as the body’s building blocks. Multivitamins tablets and capsules are a combination of many different vitamins that are normally found in foods and other natural sources.

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