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Multivitamin Capsules And Tablets Global Market Report 2021: COVID-19 Implications And Growth

Multivitamin Capsules And Tablets Global Market Report 2021: COVID-19 Implications And Growth

  • September 2021
  • 175 pages
  • ID: 6152588
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the multivitamin capsules and tablets market are Herbalife Nutrition, Abbott Laboratories, Bayer, Nature’s Bounty Co., Bionova Lifesciences, Ayanda GmbH, NutraMarks Inc, American Health Inc, Otsuka Holdings Co. Ltd., Nature’s Way Products, Glanbia Plc, Pfizer, Mylan N.V., and Dymatize.

The global multivitamin capsules and tablets market is expected to grow from $16.50 billion in 2020 to $18.24 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $24.80 billion in 2025 at a CAGR of 8%.

The multivitamin capsules and tablets market consists of sales of multivitamin capsules and tablets by entities (organizations, sole traders, and partnerships) that produce multivitamin capsules and tablets which are used to provide vitamins.Multivitamins tablets and capsules are a combination of many different vitamins that are normally found in foods and other natural sources.

Multivitamins are used to treat vitamin deficiencies that are caused by illness, pregnancy, poor nutrition, digestive disorders, and different other conditions.

The main types of products include multivitamins tablets and multivitamins capsules.A multivitamin is a pill that people take every day which contains a variety of vitamins and minerals.

The different distribution channels include store-based, non-store-based and are used for energy and weight management, general health, bone, and joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and other applications. These capsules and tablets are mainly used by adults, the geriatric population, pregnant women, children, and infants.

Asia Pacific was the largest region in the multivitamin capsules and tablets market in 2020.North America was the second-largest market in the multivitamin capsules and tablets market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Shifting consumer focus towards flavored gummy vitamins for all ages is shaping the multivitamin capsules and tablets market.Consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move toward flavored gummy vitamins.

For instance, in April 2021, Persona Nutrition, a US-based company that provides personalized daily supplement packs launched daily gummy vitamin packs for the entire family.These daily packs are designed to help users achieve specific health goals, such as immune health, focus, relaxation, everyday support, and hair, skin, and nail health.

This family pack includes multivitamins to boost muscle and nerve function.

In April 2019, Unilever Limited, a UK-based consumer goods company acquired OLLY Nutrition for an undisclosed amount.This acquisition will complement Unilever’s businesses in beauty & personal care and foods & refreshment.

OLLY Nutrition is a US-based company specializing in manufacturing and selling vitamins, minerals, supplements.

Increasing health consciousness among individuals is driving the market for multivitamin capsules and tablets.Multivitamins tablets or capsules are often prescribed by doctors to treat or prevent vitamin deficiency due to poor diet, certain illnesses, or during pregnancy as it contains different vitamins that are normally found in foods and other natural sources.

The demand for multivitamins also increased attributing to rising health concerns associated with the COVID-19 pandemic.According to SVC Labs Ltd, a UK-based supplement manufacturer the sales for vitamins, minerals and supplements have increased since the beginning of March 2020 as people are concerned with boosting immune health.

The sales of vitamins, minerals, and supplements have experienced growth of approximately 20%-140% since March 2020. Therefore, rising health consciousness is expected to drive the multivitamin capsules and tablets market during the forecast period.

The countries covered in the multivitamin capsules and tablets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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