Vitamin Supplements Market Overview:
Vitamins are essential organic micronutrients that the body needs in very small amounts to function normally. They are primarily taken in through food and are offered commercially in both natural and artificial formulations. The use of vitamins varies across various industries, including those in the food, feed, healthcare, and personal care sectors, where they are added to products to improve or fortify their nutritional value. The top eight players together held about 45% of the global market in 2018, which is distributed among its participants. The competition is heightened by the presence of major multinational players like NBTY and Bayer. The report study has examined how the COVID-19 pandemic has affected the sales revenue of market leaders, market followers, and market disrupters.
The Vitamin Supplements market study provides a comprehensive picture of the competition, including market share and company profiles of the global industry’s key competitors. The research scope includes a thorough examination of the Vitamin Supplements Market, as well as the reasons for variations in the industry’s growth in various locations.
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COVID-19 Impact Analysis on Vitamin Supplements Market:
End-user sectors where Vitamin Supplements are used experienced a decline in growth from January to May in several countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of firms operating in these industries and, as a result, in demand for Vitamin Supplements manufacturers, influencing the development of the Vitamin Supplements market in 2020. End-user business demand for Vitamin Supplements has dropped significantly because of lockdowns and an increase in COVID-19 incidents worldwide.
Market Scope:
To identify and gather appropriate samples for this study, this market report heavily relies on secondary sources, directories, and databases, such as annual reports, press releases, journals, online content, and other databases.
Segmentation:
Market for vitamin supplements is divided into product, application, form, end-user, and geographic segments.
With over one-third of the market share, the healthcare sector dominated the vitamin supplements market in 2021 in terms of application. Over the estimated period, the personal care sector is anticipated to grow at the highest CAGR.
A notable end user of vitamin supplement products is the personal care sector. One of the antioxidants that is most frequently used in the creation of skincare products is vitamin C. It provides the skin with the necessary nutrients for defence against the sun and other harmful external factors, such as pollution and smoking. Since vitamin E is also used as a potent antioxidant for skin protection, the growing awareness of skin care products is assisting growth of the global market.
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Key Players:
Primary and secondary research are used to identify market leaders, while primary and secondary research are used to establish market revenue. Primary research comprised thorough interviews with key thought leaders and industry professionals such as experienced front-line personnel, CEOs, and marketing executives, while secondary research included a review of the leading manufacturers’ annual and financial reports. Secondary sources are utilized to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary sources. The biggest players in the Vitamin Supplements market are as follows:
- Archer Daniels Midland Company
- Integrated BioPharma Inc.
- Herbalife Ltd.
- Bayer AG
- Royal DSM N.V.
- Pharmavite LLC
- I. du Pont de Nemours and Company
- Reckitt Benckiser Group PLC
- Glanbia PLC
- BASF SE
- Nutraceutical International Corporation
- Koninklijke DSM N.V.
- Nuleaf Naturals LLC
- Otsuka Pharmaceuticals
- NutraMarks Inc.
- Pharmavite LLC
- The Nature’s Bounty Co.
Regional Analysis:
Individual market influencing components and changes in market regulations that effect present and future market trends are also mentioned in the regional overview of the Vitamin Supplements market analysis. Current and future trends are examined in order to assess overall market potential and uncover profitable trends in order to achieve a more stable footing. The geographical market assessment is based on the present environment and expected trends.
Key Questions Answered in the Vitamin Supplements Market Report are:
- In 2021, which segment held the largest share of the Vitamin Supplements market?
- What is the Vitamin Supplements market’s competitive landscape?
- What are the key drivers assisting Vitamin Supplements market growth?
- Which region controls most of the Vitamin Supplements market?
- What will be the Vitamin Supplements market’s CAGR during the forecast period (2021-2029)?
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