In 2023, the value of the global vitamin supplements market is predicted to go up to US$ 57.63 Bn. Over the next decade, the market is likely to experience growth at a CAGR of 8%, and its value has the potential of reaching US$ 133.94 Bn by 2033. The health benefits of vitamins, rising global healthcare expenditures, and enhanced production efficiency are among the most important factors that have dictated the market’s growth around the world.
North America dominates the global vitamin supplements market. However, Europe is not far behind, as the U.K., Germany, and France rank among the continent’s leading contributors to the market. In Europe, the most critical factors driving market growth include health conditions like hormonal irregularities, polycystic ovary syndrome (PCOS), menstrual cycle issues, and increasing market awareness among consumers. The U.K., Germany, and France also have high average disposable incomes, which give the citizens of these countries the purchasing power required to buy vitamin supplements.
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Leading European vitamin supplement companies also offer products for athletes to help them achieve and maintain peak performance levels. Many of them have developed quality assurance systems as well, which allow them to create products that athletes can use without worrying about potential safety issues.
The best companies in the market are also leveraging the power of digital marketing and providing cost-effective solutions for their target audiences. They have their very own websites and apps, and some of them offer free delivery too.
Key Takeaways
- The global vitamin supplements market is rapidly growing due to factors like the supplements’ health benefits, rising global healthcare expenditures, and enhanced production efficiency.
- European countries such as France, Germany, and the U.K. are expected to contribute significantly to global revenue.
- In Europe, key drivers include health conditions such as menstrual cycle issues, polycystic ovary syndrome (PCOS), and hormonal irregularities, and increasing market awareness among consumers.
- Leading European vitamin supplements brands have quality assurance systems in place to help them produce safe products for athletes.
“Key players are eyeing the Europe market to capitalize on growing consumption of health supplements. Availability of a wide variety of ingredients in U.K., Germany, and Italy is expected to create conducive environment for the key players.” – Says an FMI Analyst
Competition Landscape in The Vitamin Supplements Market
Europe vitamin supplements market consists of both European and international brands. Leading international brands doing good business across Europe is based in the U.S. As the market continues to experience high profitability, FMI expects newer companies to emerge and compete with established names.
Some of the leading names in the European vitamin supplements market include G&G Vitamins, Naturelo, and Performance Lab.
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Recent Developments
- In October 2020, Naturelo was acquired by Arcadia Consumer Healthcare, a leading consumer healthcare market company. Following the successful completion of the acquisition, Arcadia Consumer Healthcare CEO Mike DeBiasi stated that the acquisition was “strategic” and an indicator of the company’s entry into the vitamins, minerals, and supplements (VMS) market.
- In February 2020, Performance Lab supplements were introduced to the U.K. market by Opti-Nutra Advanced Nutraceuticals, the company credited with the development of nootropic supplement Mind Lab Pro. The introduction revealed that the mission of the Performance Lab brand is “human performance optimization”. Its tag line, “Upgrade Yourself”, was also well-received. The supplements were aimed at improving cognitive performance, sleep, vision, digestive health, and muscle development and strength.
Key Segments Profiled in the Vitamin Supplements Market Survey
By Type:
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
- Multivitamin
By Form:
- Tablets
- Powder
- Capsule
- Gummies
- Others
By Distribution Channel:
- Supermarkets/Hypermarkets
- Retail Pharmacy
- Online sales
- Others
By End User:
- Adult
- Geriatric
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Frequently Asked Questions
- How is the Vitamin Supplements Market Growing?
- Why does the Vitamin Supplements Market have high growth potential?
- Where is the Vitamin Supplements Market most dominant?
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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