Market Analysis: Global Vitamin, Mineral and Supplements Market
The global vitamin, mineral & supplements market is expected to reach USD 186.95 billion by 2025, from USD 106.80 billion in 2017 growing at a CAGR of 7.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years2015 and 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Vitamin, Mineral and Supplements Market
The vitamin, mineral and supplements are designed to provide livestock all the nutritional needs and compensate the nutritional gap in their diet. They are essential for animals due to various changes arising from reasons such as genetic lines, increasing incidences of lifestyle-related diseases for example stroke, heart disease, obesity, type 2 diabetes, and atherosclerosis among the working population. Vitamin and mineral deficiency is harmful for animal’s health and cause a reduction in productivity. The vitamin and mineral has its major application in functional and fortified foods. Functional and fortified foods are considered to be whole, enriched foods which provide health benefits beyond the provision of essential nutrients, when consumed as part of a varied diet on a regular basis. These products are having a strong health and wellness trend owing to increasing focus on obtaining optimum nutrition. According to Functional Foods Consumer Survey, it was found that consumer is inclined towards learning about functional foods. Almost nine in ten Americans (86%) are interested in learning more about foods that have health benefits beyond basic nutrition. Various regulations are needed to be followed by the manufactures for the development of vitamin and mineral products, for example Zagro vitamin and mineral product are manufactured under FAMI-QS, ISO 9001, ISO 22000, HACCP and GMP Certified Plant. The Zagro manufacturing process ensures that accurate weighing, mixing, and testing of products are performed from raw materials to finished goods. The rising awareness and steps taken by government for the vitamins, mineral and supplement in food will help in the growth of vitamin, mineral and supplements market.
Major Market Drivers and Restraints:
- To prevent disease outbreaks in livestock
- Planned growth of livestock sector in developing nations
- Demand for nutrition supplements for monogastric animals
- Regulatory control on supplement usage limits
- Lack of awareness
Market Segmentation: Global Vitamin, Mineral and Supplements Market
- The global vitamin, mineral & supplements market is segmented based on vitamin type, mineral type, supplements ingredient and supplements, and by geography.
- Based on vitamin type, the global vitamin, mineral & supplements market is segmented into vitamin B complex, vitamin B1 (thiamin), vitamin B2 (riboflavin), vitamin B3 (niacin), vitamin B5 (pantothenic acid), vitamin B6 (pyridoxine), vitamin B9 (folic acid), vitamin C (ascorbic acid), and others.
- On the basis of mineral type, the global vitamin, mineral & supplements market is classified into micro minerals and macro minerals. Macro minerals segment is further sub segmented into potassium, calcium, phosphorus, magnesium and sodium.
- On the basis of supplements ingredient, the global vitamin, mineral & supplements market is classified into botanicals, vitamins, minerals, amino acids, enzymes, and others.
- On the basis of supplements, the global vitamin, mineral & supplements market is classified into tablets, capsules, powder, liquids, soft gels, and gel caps.
- Based on geography, the global vitamin, mineral & supplements market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Vitamin, Mineral and Supplements Market
The global vitamin, mineral & supplements market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vitamin, mineral & supplements market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Vitamin, Mineral and Supplements Market
Some of the major players operating in the global vitamin, mineral & supplements market are Amway, Integrated BioPharma, Inc., NBTY, Inc., Herbalife Ltd., Omega Protein Corporation, Nu Skin Enterprises, Inc., Bayer AG, Naturalife Asia Co., Ltd., Nu Skin Enterprises, Inc., Blackmores Ltd., BASF SE, Epax AS, Surya Herbal Ltd., Koninklijke DSM N.V., Bio-Botanica Inc., The Himalaya Drug Company, Ricola AG, Pharmavite LLC, Blackmores Ltd., and Axellus AS and among others.
Research Methodology: Global Vitamin, Mineral and Supplements Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others