Multivitamin and Mineral Supplements Market Size, Share & Industry Analysis, By Type (Multivitamin Supplements, Mineral Supplements), By Form (Tablets, Capsules and Soft Gels, Powder, Others) and regional Forecast, 2024-2032

The consumption of multivitamin and mineral supplements increases nutrient intakes and helps people get the recommended amounts of vitamins and minerals when they cannot or do not meet these needs from food alone. People who don’t get enough vitamins and minerals from food are on low-calorie diets, have a poor appetite, or avoid certain foods (such as strict vegetarians and vegans) opt to take multivitamin and mineral supplements. The health care providers also recommend multivitamins and mineral supplements to patients with certain medical conditions such as osteoporosis, anemia, and many others.

The World Health Organization (WHO) has estimated that more than 2 billion people worldwide experience deficiencies in the intake of essential vitamins and minerals through their regular diet. Poor dietary quality, rather than quantity, is the major determinant of inadequate micronutrient status among the population in developed as well as developing regions. The increasing awareness about adequate consumption of vitamins and minerals and their benefits is anticipated to drive the market in forthcoming years.

Nutrient shortfalls have health consequences that could impact daily life and overall well-being. The rising concerns among consumers over health and wellness is attributed to the increasing demand of multivitamin and mineral supplements. The improvement of micronutrient intake through dietary approaches by diversifying diets and increasing intakes of foods high in micronutrients is an important strategy adopted to improve people’s health. However, because of economic constraints, seasonal harvests, limited production, and different food-consumption patterns, it’s not possible to meet the regulatory dietary allowance of all vitamins and minerals through diet. The rational use of nutritional supplements, combined with a healthy diet, will contribute substantially to health promotion and disease prevention. Therefore, the increasing demand for multivitamin and mineral supplements to meet regulatory dietary allowance (RDA) is anticipated to drive the market. The severe health problems caused due to lack of various vitamins and minerals are anticipated to boost the demand for multivitamin and mineral supplements. For instance, some groups of the population are at greater risk of not getting enough vitamin D, especially people living in the Middle East and Africa are advised to take a vitamin D supplement every day of the year. Furthermore, the innovative, customized and aesthetic offering of multivitamin and mineral supplements through private label brands and niche market players is anticipated to drive the growth of the market.

The strict government rules and regulations related to the labelling of multivitamin and mineral supplements are anticipated to act as a restrain for market growth. For instance, in December 2019, Taiwan Food and Drug Administration (FDA) introduced new laws multivitamin and mineral supplements, that nutritional label on the product should include its serving amount, daily reference value percentage, and vitamin and mineral content. 

Key Market Driver -

Prevalence of Vitamin and Mineral Deficiency

Key Market Restraint -

Stringent Government Rules and Regulations for Labeling of Dietary Supplements

Key Players Covered:

The prominent players operating in the global multivitamin and mineral supplements market are Amway Corporation, The Archer Daniels Midland Company, Bayer AG, Integrated Biopharma, BASF SE, Synthesia A.S., Glanbia Nutritionals, Herbalife Nutrition, Abbott, Nestle S.A., and Others.

The multivitamin segment is anticipated to hold a prominent share in the global market of multivitamin and mineral supplements. The increasing prevalence of disease due to the vitamins such as A, D, E, and K deficiency is anticipated to boost the demand for multivitamin supplements. For instance, supplemental intakes of vitamin E have a positive effect on decreasing upper respiratory infections and the prevention of cardiovascular disease or cancer. The various health benefits associated with the consumption of multivitamin supplements are anticipated to encourage people to use multivitamin supplements. Moreover, the consumption of mineral supplements advised by doctors and health care providers to treat adverse health effects of mineral deficiency is expected to boost the sale of mineral supplements. For instance, iron deficiency affects the function of several organs. In women, it impairs work capacity, and in adolescents, it impairs learning. Iodine deficiency causes goiter in women and impairs intellectual functioning and low zinc intakes are associated with an increased risk of infections, including pneumonia.

The tablet form of multivitamin and mineral supplement is anticipated to lead the global multivitamin and mineral market in forthcoming years. Consumers are inclined towards them due to their convenient packaging, affordability than liquid supplements, and defined dosage. Most of the prominent market players choose to encapsulate their multivitamin and mineral supplements in tablet as well as capsule form. Furthermore, technological advancement in capsule and soft gels formulation is predicted to propel the sale of multivitamin and mineral in capsule and soft gels form.

Regional Analysis:

Asia Pacific is anticipated to hold a considerable share in the global market of multivitamin and mineral supplements. The increasing incidence of vitamin and mineral deficiency among Asian consumers is anticipated to boost the sale of the product. For instance, The World Health Organization (WHO) reported that several national dietary surveys showed that the intakes of zinc and copper were unlikely to meet the requirements for most age groups in South-East Asia, and the Western Pacific. Indian women and rural black women consumed less than two-thirds of the RDA of folate. The increasing awareness about the importance of proper diet and vitamin and mineral intake coupled with rapid urbanization and increasing disposable income are projected to be some of the favorable factors for the market growth in Asia Pacific.

The increasing demand for multivitamin and mineral supplements from the U.S. is anticipated to drive the growth of the North American market. According to the Centers of Disease Control and Prevention (CDC), the use of dietary supplements is common among the U.S. adult population. Dietary supplements are widely available to U.S. consumers, and monitoring their use over time is an important component of the National Nutrition Monitoring System. North America's multivitamin and mineral supplement market is also driven by the rapidly increasing aging population across various countries in North America along with the increasing buyer’s consciousness towards preventive health care practices and measures.

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Segmentation

Key Industry Developments:

• In January 2020, The Vitamin Shoppe has expanded its in-store offerings with a new private-label line. Vthrive The Vitamin Shoppe brand products are free of artificial colors, flavors and sweeteners, and its vitamin, mineral and supplement formulas are free of magnesium stearate, stearic acid and titanium dioxide.


• In September 2019, The Vitamin Shoppe announced the launch of ‘Only Me’, an online assessment for customized vitamin supplement solution.