Over-the-counter vitamins and dietary supplements market is growing thanks to changing nutritional needs and self-medication practices – Study Fact.MR
250-page market research on over-the-counter vitamins and dietary supplements by Fact MR, a leading market and competitive intelligence provider
According to recent market research by Fact MR, sales of over-the-counter vitamins and dietary supplements are expected to grow at propelled CAGR through 2031 as investments in healthcare infrastructure expansion continue to increase. The objective of the survey is to uncover growth opportunities, key trends, growth drivers and challenges. It also provides recommendations to help businesses prepare for unforeseen challenges.
The focus on overall improvement in patient care will remain a major growth driver. Additionally, the over-the-counter vitamin and dietary supplement market will continue to benefit from the growing willingness of patients and families to spend on advanced healthcare.
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According to the latest industry analysis published by Fact.MR, the global over-the-counter vitamins and dietary supplements market has reached a valuation of approximately $90 billion in 2020, and is expected to accelerate to a CAGR of 6% at the top $160 billion by 2031. Demand for capsules is expected to grow at a CAGR of 5% over the assessment period from 2021 to 2031.
|Market size value in 2020||$90 billion|
|Forecast market value for 2031||$160 billion|
|World growth rate||CAGR 6%|
|Share of top 5 companies||50%|
Market research by Fact.MR gives exclusive insights on market growth. The study identifies crucial trends driving the growth of the Over-the-Counter Vitamins and Dietary Supplements market. This newly released report sheds light on vital dynamics, such as drivers, restraints, and opportunities for major market players as well as emerging players associated with production and supply. Latest Fact.MR Report Provides Detailed Analysis of Over-the-Counter Vitamins and Dietary Supplements Market
The report offers actionable and valuable insights into the OTC Vitamins and Dietary Supplements market. The latest report from Fact.MR provides details about the current market scenario across different regions along with the historical data and forecast of the market. The report also includes sales and demand information for the OTC Vitamins & Dietary Supplements market across various industries and regions.
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Key segments of the over-the-counter vitamins and dietary supplements industry research
- Over-the-counter liquid vitamins and dietary supplements
- Over-the-counter vitamins and dietary supplement powders
- Over-the-counter vitamins and dietary supplement tablets
- Over-the-counter vitamin supplements and diet capsules
- Over-the-counter vitamins and supplements for immune health
- Over-the-counter vitamins and supplements for digestive health
- Over-the-counter vitamins and supplements for heart health
- Over-the-counter vitamins and supplements for bone and joint health
- Sale of OTC vitamins and dietary supplements in pharmacies
- Online sale of OTC vitamins and food supplements
- Modern commercial sales of over-the-counter vitamins and dietary supplements
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Over-the-Counter Vitamins and Dietary Supplements Market – Competitive Landscape
- In March 2019, Archer Daniels Midland Company (ADM) acquired one of the world’s leading manufacturers of natural citrus oils and ingredients – Florida Chemical Company. With this acquisition, ADM aims to add high value citrus capabilities to support its customers with citrus flavor and enhance the growth of its nutritional portfolio.
- In February 2019, Jubilant Life Sciences subsidiary Jubilant Biosys announced the expansion of its collaboration with Sanofi for the discovery of new integrated drugs in the CNS therapeutic area. The collaboration aims to address unmet needs in neurological diseases.
- In June 2018, BASF SE entered into a partnership with Xerion to advance personalized nutrition in Asia Pacific. As part of this collaboration, Newtrition®, BASF’s human nutrition brand, has been granted exclusive distribution of PUFAcoatTM Omega-3 Index test kits, Xerion’s proprietary technology.
Tracking insights from Fact.MR’s report on the Global Over-the-Counter Vitamins and Dietary Supplements Market will be crucial for the future growth of the market
- Among the regions, North America is expected to remain one of the most lucrative markets for OTC vitamins and dietary supplements between 2017 and 2022. The region currently holds the highest global market share as demand of various over-the-counter medications is particularly increasing. in the United States, Asia-Pacific excluding Japan (APEJ) is also expected to become an attractive market for over-the-counter vitamins and dietary supplements by 2022. In terms of revenue, the market in Europe is expected to account for more than 31 % of global market, by the end of 2017.
- On the basis of functions, over-the-counter vitamins and dietary supplements are primarily used to maintain the general well-being of the body. The general wellness segment accounts for a large percentage of the overall market revenue.
- In 2017 and beyond, pharmacies will continue to be the number one OCT channel for the sale of over-the-counter vitamin products, including capsules and tablets. Over a quarter of the global market’s revenue share is currently captured by the pharmacy OTC channel segment. However, this OTC channel segment is expected to lose a small fraction of its revenue share in 2020, mainly due to the emergence of new OTC channels such as online retail and modern commerce.
- Sales of over-the-counter vitamins and dietary supplements made from capsules will remain strong during the forecast period. By the end of 2022, it is estimated that nearly US$32,891 million worth of capsules will be sold worldwide.
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Benefits of the report and answers to key questions
- OTC Vitamins & Dietary Supplements Category and Segment Level Analysis: Fact MR provides detailed analysis of factors influencing sales growth in key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at regional and local level.
- OTC Vitamins & Dietary Supplements Historical Volume Analysis: The report provides a comparison of historical sales and forecasted sales performance of OTC Vitamins & Dietary Supplements for 2021-2031.
- Over-the-Counter Vitamins and Dietary Supplements Manufacturing Trend Analysis: The report offers a detailed analysis of the manufacturing trends in the OTC Vitamins and Dietary Supplements market. It carefully assesses the impact of the changing health care needs of major demographic groups globally
- Consumption of over-the-counter vitamins and dietary supplements by demographics: The report studies consumer behavior affecting the demand outlook for OTC vitamins and dietary supplements for the assessment period. The effect of their interest in digital trends in the OTC Vitamins and Dietary Supplements market is carefully analyzed
- Post-COVID consumer spending on over-the-counter vitamins and dietary supplements: The healthcare industry has been greatly influenced by the COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending after COVID-19. It assesses to what extent current trends will influence the expenditure on healthcare services, thereby affecting the growth of the OTC Vitamins and Dietary Supplements market.
More Valuable Insights into OTC Vitamins and Dietary Supplements Market
Fact.MR, in its new report, offers an unbiased analysis of the Over-the-Counter Vitamins and Dietary Supplements Market, Sales and Demand of Over-the-Counter Vitamins and Dietary Supplements, analyzing forecast statistics to 2019 and beyond. The study reveals growth projections based on various criteria.
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