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Global Multivitamin Tablets Market – Industry Trends and Forecast to 2031

Food & Beverage

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Global Multivitamin Tablets Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • Jul 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Multivitamin Tablets Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 14.20 USD Billion
Diagram Market Size (Forecast Year) USD 23.21 USD Billion
Diagram CAGR %

Major Markets Players

  • Amway (U.S.)
  • Abbott (U.S.)
  • Bayer AG (Germany)
  • Arkopharma (France)
  • Pfizer Inc. (U.S.)

Global Multivitamin Tablets Market, By Application (Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti- Cancer and Others), End User (Adults, Geriatric, Pregnant Women, Children and Infants), Distribution Channel (Over The Counter (OTC) and Prescribed) – Industry Trends and Forecast to 2031.

Multivitamin Tablets Market

 

Multivitamin Tablets Market Analysis and Size

Multivitamin tablets market play a crucial role in supplementing daily diets to ensure adequate intake of essential vitamins and minerals. Many individuals may not obtain sufficient nutrients solely from their diets due to factors such as busy lifestyles, dietary restrictions, or poor eating habits. Good multivitamins help bridge these nutritional gaps, supporting overall health by promoting immune function, maintaining energy levels, and contributing to various bodily functions such as metabolism, cardiovascular health, and bone strength. They are widely used by health-conscious individuals seeking to optimize their nutritional intake and promote longevity and vitality through comprehensive nutrient supplementation.

The global multivitamin tablets market size was valued at USD 14.20 billion in 2023 and is projected to reach USD 23.21 billion by 2031, with a CAGR of 6.33% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Application (Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti- Cancer and Others), End User (Adults, Geriatric, Pregnant Women, Children and Infants), Distribution Channel (Over The Counter (OTC) and Prescribed)

Countries Covered

U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA)

Market Players Covered

Amway (U.S.), Abbott (U.S.), Bayer AG (Germany), Arkopharma (France), Pfizer Inc. (U.S.), Bionova (India), Herbalife International of America, Inc. (U.S.), Nature’s Bounty (U.S.), Ayanda (India), NutraMarks, Inc. (U.S.), Dupont (U.S.), American Health (U.S.), Sona (Ireland), Centurion Laboratories Private Limited (India), Mylan N.V. (U.S.), Dwarkesh Pharmaceuticals Private Limited (India), SaillonPharma (India), Healthy Life Pharma Private Limited (India), HealthKart.com (India), Truebasics.com (India), 21ST Century HealthCare, Inc. (U.S.)

Market Opportunities

  • Rising Disposable Income
  • Growing Innovative Product Offerings

Market Definition

Multivitamin tablets are dietary supplements containing a combination of essential vitamins and minerals. They are designed to supplement daily nutritional intake, especially when diet alone may not provide adequate levels of these nutrients. Multivitamin tablets aim to support overall health by filling potential nutrient gaps, promoting immune function, maintaining energy levels, and supporting various bodily functions such as metabolism, bone health, and skin integrity.

Multivitamin Tablets Market Dynamics

Drivers

  • Growing Aging Population

There is often a decline in nutrient absorption and an increased risk of nutritional deficiencies as people grow older. Multivitamins cater to these needs by providing a convenient way to supplement essential vitamins and minerals that may be lacking in diet alone. Older adults frequently use multivitamin tablets, with recommended multivitamin tablet doses for adults, to support immune function, maintain bone health, and improve overall vitality. The expanding elderly demographic worldwide, coupled with a growing awareness of preventive healthcare, underscores the increasing demand for multivitamin supplements tailored to older adults' nutritional requirements.

  • Growing Urbanization

As populations migrate to urban areas, dietary patterns often shift towards processed and convenience foods that may lack sufficient nutritional value. Urban dwellers also tend to lead more sedentary lifestyles and experience higher stress levels, which can deplete essential nutrients. Multivitamin tablets address these nutritional gaps by providing a convenient and effective way to supplement diets with vitamins and minerals crucial for maintaining health in urban environments. The convenience of multivitamin tablets fits well with busy urban lifestyles, making them a popular choice among city dwellers seeking to support their overall well-being amidst urbanization trends.

Opportunities

  • Rising Disposable Income

Rising disposable income directly influences consumer purchasing power and health spending priorities. With higher incomes, individuals have greater capacity to afford health supplements, including multivitamins, which are often perceived as essential for maintaining optimal health and well-being. Increased disposable income enables consumers to prioritize preventive healthcare and invest in products that support overall wellness and longevity, thereby increasing multivitamin tablet uses. This trend is particularly pronounced in emerging economies where rising middle-class populations are increasingly health-conscious and willing to spend on nutritional supplements to supplement their diets and mitigate lifestyle-related health risks. As disposable incomes continue to rise globally, the demand for multivitamin tablets is expected to grow, driving market expansion and innovation in product offerings.

  • Growing Innovative Product Offerings

Manufacturers are developing formulations that cater to specific demographics such as children, pregnant women, athletes, and seniors, offering tailored nutrient combinations. This customization extends to factors such as gender-specific formulations and targeted health concerns such as bone health, immunity, and cognitive function. Moreover, advancements in delivery systems, including chewable tablets, gummies, and liquid forms, enhance convenience and appeal. These innovations differentiate brands in a competitive market and attract consumers seeking effective, specialized multivitamin solutions aligned with their health goals and lifestyles.

Restraints/Challenges

  • Growing Stringent Regulations

Regulatory authorities worldwide are placing stricter requirements on the safety, efficacy, and labeling of dietary supplements, including multivitamins. Compliance with these regulations requires extensive documentation, rigorous testing, and adherence to Good Manufacturing Practices (GMP), which can delay product launches and increase operational expenses for manufacturers. Moreover, varying regulations across different regions necessitate tailored strategies and formulations for each market, further complicating international expansion efforts.

  • Alternative Health Solutions

Alternative health solutions offer natural or holistic alternatives perceived as more aligned with consumer preferences for organic and whole-food-based supplements. This trend shifts consumer interest towards herbal supplements, traditional medicines, and functional foods that promise similar health benefits as multivitamins but with perceived fewer synthetic ingredients. This diversification in health approaches challenges the market's growth potential, requiring multivitamin manufacturers to differentiate their offerings and educate consumers about the unique benefits of their products..

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Multivitamin Tablets Market Scope

The market is segmented on the basis of application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Application

  • Energy and Weight Management
  • General Health
  • Bone and Joint Health
  • Gastrointestinal Health
  • Immunity
  • Cardiac Health
  • Diabetes
  • Anti- Cancer
  • Others

End User

  • Adults
  • Geriatric
  • Pregnant Women
  • Children
  • Infants

Distribution Channel

  • Over The Counter (OTC)
  • Prescribed

Multivitamin Tablets Market Regional Analysis/Insights

The market is analyses and market size, volume information is provided by country, application, end user and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA).

North America dominates the market due to a widespread increase in health awareness among consumers, prompting higher demand for dietary supplements such as multivitamins. The trend towards low-calorie and nutritious food choices has further fueled the consumption of supplements to meet nutritional gaps. Additinally, established healthcare infrastructure and easy access to a wide range of dietary products contribute to the region's strong market position.

Asia-Pacific is expected to experience the highest CAGR in the market due to several factors. Rising health concerns among the population are driving demand for health-enhancing products. Increased expenditure on healthcare and wellness products is fueled by growing personal disposable incomes. Urbanization and globalization are influencing lifestyles towards more westernized diets and health practices. These trends collectively contribute to the robust growth projected in the Asia-Pacific market for health and wellness products.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Multivitamin Tablets Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

  • Amway (U.S.)
  • Abbott (U.S.)
  • Bayer AG (Germany)
  • Arkopharma (France)
  • Pfizer Inc. (U.S.)
  • Bionova (India)
  • Herbalife International of America, Inc. (U.S.)
  • Nature’s Bounty (U.S.)
  • Ayanda (India)
  • NutraMarks, Inc. (U.S.)
  • Dupont (U.S.)
  • American Health (U.S.)
  • Sona (Ireland)
  • Centurion Laboratories Private Limited (India)
  • Mylan N.V. (U.S.)
  • Dwarkesh Pharmaceuticals Private Limited (India)
  • SaillonPharma (India)
  • Healthy Life Pharma Private Limited (India)
  • HealthKart.com (India)
  • Truebasics.com (India)
  • 21ST Century HealthCare, Inc. (U.S.)


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FREQUENTLY ASK QUESTIONS

The Multivitamin Tablets Market will be worth USD 23.21 Billion by 2031.
The Growth Rate of the Multivitamin Tablets Market will be 6.33 % by 2031.
The major companies in the Multivitamin Tablets Market are Amway, Abbott, Bayer AG, Arkopharma, Pfizer Inc., Bionova, Herbalife International of America, Inc., Nature’s Bounty, Ayanda, NutraMarks, Inc., Dupont, American Health, Sona, Centurion Laboratories Private Limited, Mylan N.V., Dwarkesh Pharmaceuticals Private Limited, SaillonPharma, Healthy Life Pharma Private Limited HealthKart.com, Truebasics.com, 21ST Century HealthCare, Inc. etc.
The Growing Aging Population & Growing Urbanization are the Growth Drivers of the Multivitamin Tablets Market.
The application, end user, and distribution channel are Multivitamin Tablets Market are the factors on which the Multivitamin Tablets Market research is based.
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