Multivitamin Segment is Expected to Hold the Majority Share in the Global Vitamin Market by 2025

Posted on 2020-12-09 by MarketsandMarkets in Food & Beverage, Healthcare // 0 Comments

the global gummy vitamins market size is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 10.6 billion by 2025, recording a CAGR of 12.5%.

In recent years, health-conscious consumers are looking for nutritional foods and food products with essential health ingredients to prevent possible diseases and improve physical and mental well-being. The increase in the aging population and rise in consumer awareness in developing and developed countries are the key factors that have led to the rise in consumer preference for products with healthy ingredients, such as vitamins, required for the prevention or treatment of specific existing conditions. The increase in demands for such products has led several manufacturers to launch various products infused with vitamins in the dietary supplements market.

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Key factors such as the increased quantity of multi-vitamins in gummy vitamins encourage consumers to adopt these products rather than opt for other singular vitamin tablets or capsules, which, in turn, provides them convenience in consumption. Hence, the increase in demand for convenient and on-the-go supplements is further encouraging the demand for gummy vitamins.

Based on product type, the multivitamin segment is expected to hold the majority share in the global vitamin market. Multivitamins are cheaper as compared to single vitamins. They also have a high quantity of vitamins, as they contain 10 to 20 different vitamins and minerals. These typically include vitamins A, C, D, E, K, B vitamins, zinc, pantothenic acid, folic acid, magnesium, calcium, and biotin. Most multivitamins contain an overall coverage of nutrients without high dosages. Hence, the consumption of one gummy containing multiple vitamins is easier and beneficial to the consumer as compared to the consumption of a single vitamin containing gummy. Thus, this results in the leading share of the multivitamin gummy vitamin segment by product type.

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Key Market Players:

Church & Dwight Co. Inc. (US), Life Science Nutritionals (Canada), Bettera Brands LLC (US), The Clorox Company (US), Softigel (US), Nature’s Way Products, LLC (US), Zanon Vitamec Inc. (US), Olly Public Benefit Corporation (US), Herbaland Naturals Inc. (Canada), Hero Nutritionals, LLC (US), SmartyPants Inc. (US), The Nature’s Bounty Co. (US), IM Healthcare (India), Nutra Solutions (US), Makers Nutrition, LLC (US), Vitakem Nutraceutical Inc. (US), Bayer Group (Germany), Ernest Jackson (UK), Boscogen, Inc (US), and Santa Cruz Nutritionals Inc. (US).

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