The global vitamin and mineral supplement market size reached around USD 55.6 billion in 2023 and is expected to expand at a CAGR of 5.4% during the forecast period. Sales of vitamin and mineral supplements are projected to surge steadily, steering the total market valuation from USD 58.8 billion in 2024 to USD 99.7 billion by 2034.
In 2023, the market for vitamin and mineral supplements represented around 32.6% of the total global dietary supplement market, valued at USD 152.8 billion. This share will likely increase amid a high intake of vitamin and mineral supplements among the general public.
| Attributes | Key Insights |
|---|---|
| Base Value (2023) | USD 55.6 billion |
| Estimated Vitamin and Mineral Supplement Market Value (2024) | USD 58.8 billion |
| Projected Vitamin and Mineral Supplement Market Revenue (2034) | USD 99.7 billion |
| Anticipated CAGR (2024 to 2034) | 5.4% |
| Market Share of Top 5 Countries | 53.3% |
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To succeed in a highly competitive market such as vitamin and mineral supplements is a difficult task, especially in the modern era where consumers demand high quality. As a result, companies need to employ different strategies and tactics to stay ahead of the curve. These include:
Vitamin and mineral supplements are witnessing a steady demand globally. This is because the human body requires these micronutrients to carry out numerous regular processes.
People are consuming different vitamins, including vitamins A, D, E, and K. Similarly, water-soluble vitamins, including B-complex vitamins like vitamin B6, vitamin B12, folate, and vitamin C, are growing in popularity among health-conscious consumers.
Minerals such as calcium, sodium, potassium, iodine, zinc, etc., are becoming critical for the proper functioning of life processes and preventing disease development. High consumption of these micronutrients is expected to fuel demand for mineral supplements in the market.
The rising prevalence of micronutrient deficiencies is acting as a catalyst triggering sales of vitamin & mineral supplements. Amid changing lifestyles and food habits, cases of diseases such as anemia and osteoporosis are on the rise. To address this, people consume different vitamins and mineral supplements.
Global vitamin and mineral supplement sales increased at a CAGR of 4.0% during the historical period. Total market valuation reached around USD 55.6 billion at the end of 2023. In the assessment period, demand for vitamin and mineral supplements is set to expand at a 5.4% CAGR.
| Historical CAGR (2019 to 2023) | 4.0% |
|---|---|
| Forecast CAGR (2024 to 2034) | 5.4% |
The market for vitamin and mineral supplements has grown steadily from 2019 to 2023. This was mainly due to increased healthcare costs and high sales of dietary supplements through online platforms.
The outbreak of the COVID-19 pandemic boosted the demand for supplements, including vitamins and minerals. To avoid COVID-19 symptoms, people consumed large amounts of vitamin and mineral supplements. This provided impetus for the growth of the vitamin & mineral supplements market.
Over the forecast period, the market for vitamin and mineral supplements is set to witness healthy growth. This is attributable to factors like rising interest in preventive healthcare, the aging population, and the growing demand for functional foods and beverages.
The growing popularity of nutraceuticals is expected to fuel sales of vitamin & mineral supplements. This is because nutraceutical products like protein supplements, pediatric nutrition, sports nutrition, multivitamins, and others contain different vitamins and minerals that help mitigate health risks.
Manufacturers are focusing on introducing novel immunity-boosting products in the market. They are actively promoting the advantages of organic herbs and botanicals, emphasizing their immune-boosting properties.
Top companies are also concentrating on developing novel products to meet the requirements of different age groups. For instance, they are developing products like jelly and gummies and adding different flavors that make consuming the supplements more attractive.
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The increasing prevalence of micronutrient deficiencies worldwide presents a significant opportunity for market expansion. Lancet's data suggests that around one-third of the global population suffers from at least one micronutrient deficiency. This is expected to drive demand for vitamin and mineral supplements.
The expanding geriatric and pediatric populations globally are leading to a rise in consumer spending on dietary supplements. This, in turn, results in increased competition in the market and prompts companies to introduce new solutions with additional features.
There has been a growing interest among consumers in preventive healthcare products, leading to enhanced effectiveness in production and marketing activities. The demand for vitamins & supplements is expected to rise in the coming years as consumers increasingly seek out nutrient-rich products.
The rise of internet addiction and economic volatility have led consumers to prioritize personalized medicines and treatments in the health supplement sector. The internet has become a vital avenue for purchasing dietary supplements, reducing barriers to market entry.
Manufacturers are focusing on delivering vitamins and mineral supplements through online channels to provide a convenient purchasing experience. Considering these factors, the market is anticipated to experience significant growth during the forecast period.
Several factors are expected to limit market expansion during the forecast period. These include increasing government participation and tighter regulations in dietary supplement manufacturing, distribution, safety testing, and efficacy claims.
The United States Food & Drug Administration (FDA) has tightened safety regulations over the past ten years amid a rising number of dietary supplement labeling breaches. This is creating hurdles in the expansion of the global vitamin and mineral supplement industry.
Consumer mistrust of the supplement industry has also increased as a result of some businesses’ deceptive marketing and communication tactics that claim taking supplements has health benefits. This mistrust presents challenges for producers in terms of brand reputation and regulatory requirements from the perspective of communicating the effects of products.
The rise in the market for fake and counterfeit supplements has coincided with the rise in the usage of dietary supplements. The market's growth throughout the forecast period may be impacted by all of the above-mentioned variables.
The section highlights the vitamin & mineral supplement industry in prominent countries. With expected CAGRs of 6.5% and 5.9%, respectively, India and China are expected to remain the leading consumers of vitamin and mineral supplements. This will probably be due to factors like rising health awareness, the growing popularity of multivitamins, and increasing cases of vitamin deficiencies.
| Countries | Expected CAGR (2024 to 2034) |
|---|---|
| United States | 5.8% |
| India | 6.5% |
| Germany | 5.0% |
| China | 5.9% |
| Japan | 5.6% |
The United States vitamin and mineral supplement market size reached over USD 11.0 billion in 2023. Overall demand for vitamin & mineral supplements in the United States is poised to surge at a 5.8% CAGR through 2034, driven by factors like:
Amid rising emphasis on preventive healthcare, consumers across the United States are proactively taking supplements to prevent potential health issues and maintain overall health. This is expected to elevate demand for vitamin and mineral supplements through 2034.
The growing trend toward healthy living and the rise in healthcare costs in the United States benefits the sales of vitamin and mineral supplements. Similarly, the rising number of start-ups will likely improve the industry share of vitamin & mineral supplements in the United States.
India's vitamin and mineral supplement industry is poised to advance at a healthy CAGR of 6.5% during the assessment period. Total vitamin and mineral supplement sales in India were valued at around USD 8.0 billion in 2023.
As per the latest analysis, India is set to dominate the South Asia vitamin and mineral supplement market through 2034, driven by factors like:
Amid changing lifestyles and eating habits, the prevalence of micronutrient deficiencies across India is increasing at an alarming pace. For instance, there is a surge in cases of anemia, osteoporosis, and vitamin D deficiency.
To counter the burden of micronutrient deficiencies, people are consuming vitamins and minerals on large scales. This is expected to bolster sales of vitamin and mineral supplements in India during the forecast period.
The government of India is also taking several initiatives to educate people about deficiency diseases and their treatments. This will help to improve India’s vitamin and mineral supplement share globally.
Germany held a dominant share of 27.4% in the Europe vitamin and mineral supplement market in 2023. Over the assessment period, Germany's vitamin and mineral supplement market is set to expand at a 5.0% CAGR.
A combination of multiple factors is expected to drive the growth of the vitamin & mineral supplement market in Germany. These include
People across Germany are spending huge amounts on beauty supplements that promote healthy skin, nails, and hair. This is creating opportunities for the vitamin and mineral supplement market growth, and the trend is expected to continue through 2034.
Japan's vitamin and mineral supplement market value totaled USD 2.8 billion in 2023. In the forecast period, vitamin and mineral supplement demand in Japan is projected to increase at 5.6% CAGR. This can be attributed to factors like:
China is anticipated to emerge as a highly lucrative market for vitamin and mineral supplement companies across East Asia. Total consumption of vitamin and mineral supplements in China will likely increase at 5.9% CAGR through 2034. Key factors that will boost China market include:
The below section provides compelling insights into top segments and their respective values & shares. This information can help companies to invest accordingly in specific products, offer popular forms, and find the most profitable distribution channels for their business and maximum sales.
| Product | Value CAGR |
|---|---|
| Vitamins | 3.4% |
| Minerals | 6.7% |
The vitamin supplements segment held a share of 78.3% in 2022. Over the forecast period, demand for vitamin supplements is anticipated to surge with a CAGR of 3.4%, driven by factors including:
The rising incidence of vitamin deficiencies, particularly vitamin D deficiency, is becoming a significant concern worldwide. To counter this, vitamin supplements are being widely consumed.
Vitamin supplements help people to overcome the requirements of micronutrients in the body. They perform a variety of functions in the body. For instance, they help maintain healthy skin and hair, promote strong bones, and enhance immunity.
With rising awareness regarding the health benefits of supplements like vitamin D, vitamin A, and vitamin C, their demand is expected to rise steadily. This will boost the target segment.
| Form | Value CAGR |
|---|---|
| Tablets | 6.4% |
| Capsules | 6.8% |
| Powders | 4.1% |
| Others | 3.1% |
Tablets remain the most popular form for taking vitamin and mineral supplements. The target segment held a prominent market share of 34.7% in 2023. Over the projection period, demand for vitamin & mineral tablets is anticipated to rise at 6.4% CAGR.
Consumers mostly prefer vitamin and mineral supplement tables due to their attractive benefits, including
Tablets are more convenient to take than other forms of vitamin and mineral supplements. They are usually more stable and have a longer shelf-life than liquids, gummies, and other forms. These advantages make tablets the most consumed form of supplements.
The excipients used in tablets, like multivitamin tablets, are typically less bulky than those used in liquids. As a result, they have the tendency to deliver a higher concentration of active ingredients. Through encapsulation, tablets also mask the unpleasant taste of vitamins and minerals.
| Distribution Channel | Value CAGR |
|---|---|
| Pharmacies & Drug Stores | 5.9% |
| Hypermarkets and Supermarkets | 5.0% |
| Others | 3.5% |
As per the latest vitamin and mineral supplement industry analysis, the pharmacies & drug stores segment accounted for a market share of 64.5% in 2023. It will likely exhibit a CAGR of 5.9% during the forecast period.
Pharmacies and drug stores are often perceived as more trustworthy and credible sources for supplements like vitamins and minerals. As a result, people prefer to purchase vitamin and mineral supplements from these distribution channels.
Drug stores & pharmacies also carry standardized vitamin and mineral supplement brands that have undergone quality control testing. This is also attractive to people towards these channels.
The increasing number of deficiency cases is increasing the prescription rate of vitamin and mineral supplements. Also, the rising number of pharmacies and drug stores is expected to boost the growth of the segment.
In order to establish their presence in the industry, key vitamin and mineral supplement companies are constantly launching new products with sustainable packaging. They are also focusing on aggressive marketing to reach a wider audience and stay ahead of the competition.
Leading manufacturers such as Amway and Nestlé are employing strategic initiatives like collaborations and expansions to enhance the availability of their vitamin and mineral supplements.
Recent Developments in the Vitamin and Mineral Supplement Market
| Attribute | Details |
|---|---|
| Estimated Value (2024) | USD 58.8 billion |
| Projected Value (2034) | USD 99.7 billion |
| Expected CAGR (2024 to 2034) | 5.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC, and South Africa |
| Key Market Segments Covered | Product, Form, Distribution Channel, and Region |
| Key Companies Profiled | Pharmavite LLC; Salus-Haus; Puritan's Pride; General Nutrition Centers Inc.; Webber Naturals; Pfizer Inc.; DSM; Daiichi Sankyo; CSPC Pharmaceutical Group; Hainan Yangshengtang, Eisai; Jamieson; Sanofi China; Dabur India Limited; Herbalife International India Pvt. Ltd.; Amway India Enterprises Pvt. Ltd.; Himalaya Drug Company; Abbott India Limited |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The total market size is estimated to reach USD 58.8 billion in 2024.
Global sales are expected to surge at a 5.4% CAGR through 2034.
By 2034, the total market valuation is set to reach USD 99.7 billion.
Growing demand for natural products & interest in preventive healthcare.
The United States, India, China, Japan, and Germany.
India’s VMS market size reached around USD 8.0 billion in 2022.
Demand for vitamin and mineral supplements in Europe is forecast to surge at a 4.9% CAGR.
The United States, India, and China are the key producers.
Pharmavite LLC, Salus-Haus, and Puritan's Pride, among others.
| Market Size (2023) | USD 1,560 million |
|---|---|
| Anticipated Market Size (2033) | USD 2,780.3 million |
| Market Expected CAGR (2023 to 2033) | 5.9% |
| Market value in 2023 | USD 6986.1 Million |
|---|---|
| Market value in 2033 | USD 12,629.6 Million |
| CAGR (2023 to 2033) | 6.10% |
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Vitamin and Mineral Supplement Market
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