The global vitamin supplements market size was estimated at USD 48.51 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. Increasing awareness among consumers regarding nutrition, health, and wellness is a key factor driving the vitamin supplements industry. Campaigns run by non-government organizations (NGOs), government agencies, and companies have heightened consumer awareness about the nutritional benefits of dietary supplements, including vitamin supplements, which is anticipated to propel market growth.

In March 2023, the U.S. Food and Drug Administration (FDA) launched a new webpage called the Dietary Supplement Ingredient Directory. This directory allows people to look up the ingredients used in dietary supplements and find information about the FDA's actions and communication regarding each ingredient. The directory aims to be a one-stop shop for ingredient information that was previously scattered across different FDA web pages.

In addition, product launches by large and small companies in recent years have included organic and natural ingredients, which has boosted interest in vitamin supplements. Apart from this, the use of attractive packaging methods has also led to increased consumer awareness, which, in turn, has triggered spending on such supplements. A large number of consumers are becoming health conscious and prefer products that comprise minimal synthetic chemicals. Increasing preference for healthy food and the willingness to pay a premium price for such products with better nutritional value, especially when buying products such as gummies and candies for children, are also important factors that propel the demand for vitamin supplements.

Both electronic and print media have been promoting the uptake of vitamin supplements, strongly influencing consumer purchasing behavior. Rising per capita healthcare expenditure has made people conscious of the increasing costs of obtaining proper medical care. This has resulted in the need to be more proactive toward chronic health problems, spurring the demand for vitamin supplements in essential ingredients. Moreover, the growing trend of personalized nutrition is expected to have a positive impact on product demand.

The shift of consumers from pharmaceutical products to nutraceutical products is further driving the global market. The nutraceutical industry is an evolving and dynamic sector, which offers novel opportunities to collaborate scientific discovery with growing consumer interest in health-enhancing supplements and foods. It tracks and monitors consumer trends and relationships with mass distributors. Thus, the products developed in this industry are a response to direct demand. It may be used to improve health, delay the aging process, prevent chronic diseases, increase life expectancy, and support the structuring and functioning of the body.

Growing awareness among consumers regarding health and wellness is resulting in the “prevention is better than cure” ideology. This has led to more consumers relying on nutraceuticals, functional foods, vitamins, and dietary supplements to lead healthy and disease-free lives. Nutraceuticals, in particular, have received immense focus in the recent past owing to their nutritional and pharmaceutical benefits, along with being safe for consumption without major side effects. This is expected to result in explosive growth of the nutraceutical market over the forecast period.

Get a preview of the latest developments in the Global Vitamin Supplements Market! Download your FREE sample PDF today and explore key data and trends

Regional Insights

North America accounted for a 35.9% share of the global revenue in 2022 and is expected to grow with a CAGR of 4.2% over the forecast period. The prevalence of obesity and lifestyle-related diseases has risen in North America. As a result, the general populace is opting for functional foods & supplements that provide a variety of health benefits above and beyond basic nutrition. The consumption of products such as fortified, enriched, and enhanced, along with nutritional supplements, as part of a varied diet regularly can have favorable influences on health. Multivitamins have emerged as a significant segment in the North American market owing to rising awareness about their benefits in overall health & bodily maintenance.

Asia Pacific region is expected to grow at a CAGR of 11.1% from 2023 to 2030. In Asia Pacific, the demand for vitamin supplements is expected to increase as key players adopt strategies such as introducing their brands to untapped economies of the Southeast Asian countries. Asia Pacific has the largest market for vitamin supplements in China, India, and Japan due to their large populations and high consumption levels. Countries such as Japan and Australia have experienced heightened awareness regarding the product's health benefits over the years, which is expected to strengthen regional growth over the forecast period.

Key Vitamin Supplements Companies:

Gather more insights about the market drivers, restrains and growth of the Vitamin Supplements Market