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 vitamin and minerals market report forecasts the vitamin and minerals market size to grow to $26.27 Billion by 2027, with a CAGR (compound annual growth rate) of more than 3%.

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Vitamin and Minerals Market Size Forecast
The global vitamin and minerals market is expected to grow from $21.37 billion in 2022 to $22.65 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. 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 vitamin and minerals market is expected to grow from $26.27 billion in 2027 at a CAGR of 3.8%.

North America held the largest vitamin and minerals market share, and Middle East was the fastest-growing region in 2022.

Key Vitamin and Minerals Market Driver ­– Growth In The Use Of Dietary Supplements In The Modern Lifestyle
Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, zinc, and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibrous foods, including cookies, bread, and rolls, have been developed by the Indian Research Institute. For example, to improve children’s immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the growth of the vitamins and mineral supplement market.

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Key Vitamin and Minerals Market Trend – Moving Toward Organic Supplements
The consumer preference moving toward organic supplements is a key trend in the vitamins and mineral supplement market. There was a suggested transition towards vegan & organic food in 2020, and this trend will shortly become a lifestyle for many people as COVID-19 is taking the world by storm. As a lot of people globally believe that the COVID crisis is associated with the consumption of animal meat, people will become more cautious of the food they consume and this can result in a significant rise in the demand for organic and vegan food products. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements.

Vitamin and Minerals Market Segment
1) By Type: Multivitamin, Single Vitamin, Multi Mineral, Single Mineral
2) By Application: Energy And Weight Management, General Health, Bone And Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer, Other Applications
3) By Distribution Channel: Pharmacies ANd Drug Stores, Supermarkets And Hypermarkets, Online Channels
4) By End-User: Adults, Geriatric, Pregnant Women, Children, Infants

Vitamin and Minerals Market Major Players and Strategies
Major players in the vitamin and minerals market are Salus Haus, Pfizer, Daiichi Sankyo, AMWAY, Eisai, Sanofi, GNC, CSPC Pharmaceutical Group, DSM, Otsuka Holdings Co. Ltd., Puritan’s Pride, Pharmavite, Jamieson, Webber Naturals, Hainan Yangshengtang, Nature’s Bounty, CCMP Capital, Pharmavite, Suntory Holdings Ltd., Glanbia PLC., Glaxosmithkline PLC., Abbott Laboratories, Bayer AG, Puritan’s Pride, General Nutrition CentersInc., Webber Naturals, CSPC Pharmaceutical Group, and Hainan Yangshengtang.

In April 2020, American Regent Inc., a US manufacturer of pharmaceuticals for human and veterinary use with manufacturing sites in New York and Ohio, acquired Daiichi Sankyo for an undisclosed amount. This acquisition increases American Regent’s production and provides the opportunity to explore other products to manufacture, allowing the company to continue to find innovative ways of responding to customer needs. Daiichi Sankyo is a pharmaceutical company with its corporate origins in Japan.

The Vitamin and Minerals Global Market Report 2023 covers regional data on vitamin and minerals market size, vitamin and minerals market trends and drivers, opportunities, strategies, and vitamin and minerals market competitor analysis. The countries covered in the vitamin and minerals 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.

Vitamins and mineral supplements refer to the micronutrients that the body needs to perform a variety of typical tasks. These micronutrients must, however, be obtained from the food we eat because they are not generated by our bodies. Organic compounds known as vitamins are often classified as either fat-soluble or water-soluble.

View More Reports Related To The Vitamin and Minerals Market –
Vitamin D Global Market Report 2023
Multivitamin Capsules And Tablets Global Market Report 2023
General Minerals Global Market Report 2023

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