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Multivitamin and Mineral Supplements Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 120
  • SKU: IRTNTR72934
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The multivitamin and mineral supplements market share is expected to increase by USD 3.19 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.8%.

This multivitamin and mineral supplements market research report provide valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers multivitamin and mineral supplements market segmentation by application (eye health supplements, bone and joint supplements, heart health supplements, and other supplements) and geography (North America, Europe, Asia, and Rest of World (ROW)). The multivitamin and mineral supplements market report also offer information on several market vendors, including Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., BASF SE, Bausch Health Companies Inc., Bayer AG, Cargill Inc., Glanbia Plc, Innophos Holdings Inc., International Flavors and Fragrances Inc., Kappa Ingredients GmbH, New Chapter Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Pharmavite LLC, Pinnacle Health Nutrition Ltd., Reckitt Benckiser Group PLC, Swisse Wellness Pty Ltd., The Bountiful Co., and ZeaVision LLC. among others.

What will the Multivitamin and Mineral Supplements Market Size be During the Forecast Period?

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Multivitamin and Mineral Supplements Market: Key Drivers, Trends, and Challenges

The increasing adoption of multivitamin and mineral supplements by the growing aging population is notably driving the multivitamin and mineral supplements market growth, although factors such as misleading advertisements and promotions may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the multivitamin and mineral supplements industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Multivitamin And Mineral Supplements Market Driver

One of the key factors driving the global multivitamin and mineral supplements industry growth is the increasing adoption of multivitamin and mineral supplements by the growing aging population. It is estimated that by 2030, nearly 17% of the global population will be above the age of 60 years. The aging population is becoming increasingly health-conscious about degenerative functioning and related conditions such as Alzheimer's and Parkinson's. Aging also results in a reduced intake of food, which results in nutrient gaps. Thus, the supplements are usually taken to complement the following essential nutrients such as vitamin D, calcium, iron, and others. The demand for multivitamin and mineral supplements will also be driven by the high spending power of baby boomers in the forecast period.

Key Multivitamin and Mineral Supplements Market Trend

Aging population driving spending on multivitamin and mineral supplements is one of the key multivitamin and mineral supplements market trends that is expected to impact the industry positively in the forecast period. According to the World Bank data, the share of the global geriatric population was 9.09% in 2019, and it increased to 9.31% in 2020. It is estimated that around one-fifth of the overall consumers of multivitamin and mineral supplements currently belong to the geriatric category. Most manufacturers of multivitamin and mineral supplements have started focusing specifically on these consumers by providing specialized products to address age-related disorders, such as supplements for the heart and bones. For instance, the multivitamin and mineral supplements manufacturer FoodState offers its multivitamin combination, Multi for Men/Women, for people aged above 55 years. Such factors will support the market growth in the coming years.

Key Multivitamin and Mineral Supplements Market Challenge

One of the key challenges to the global multivitamin and mineral supplements industry growth is misleading advertisements and promotions. Players sign up with various sports and film celebrities to endorse their products. They create various advertisement campaigns featuring these celebrities with an aim to influence their fans and expand their consumer base. However, the outcome of consuming these supplements may not be as desired by consumers, which may cause them to distrust various multivitamin and mineral supplement products. Hence, creating a sense of transparency regarding the ingredients and the manufacturing of these supplements is imperative. In addition, advertising regulatory bodies have set certain stringent guidelines to control the various misleading claims of supplement manufacturers through their advertisements. such factors might limit the market growth in the forecast years.

This multivitamin and mineral supplements market analysis report also provide detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global multivitamin and mineral supplements market as a part of the pharmaceutical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the multivitamin and mineral supplements market during the forecast period.

Who are the Major Multivitamin and Mineral Supplements Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Amway Corp.
  • Archer Daniels Midland Co.
  • BASF SE
  • Bausch Health Companies Inc.
  • Bayer AG
  • Cargill Inc.
  • Glanbia Plc
  • Innophos Holdings Inc.
  • International Flavors and Fragrances Inc.
  • Kappa Ingredients GmbH
  • New Chapter Inc.
  • Otsuka Pharmaceutical Co. Ltd.
  • Pfizer Inc.
  • Pharmavite LLC
  • Pinnacle Health Nutrition Ltd.
  • Reckitt Benckiser Group PLC
  • Swisse Wellness Pty Ltd.
  • The Bountiful Co.
  • ZeaVision LLC.

 

This statistical study of the multivitamin and mineral supplements market encompasses successful business strategies deployed by the key vendors. The multivitamin and mineral supplements market is fragmented and the vendors are deploying growth strategies such as investment in R and D to compete in the market.

Product Insights and News

  • Abbott Laboratories - The company offers multivitamin and mineral supplements under the brand name HI-CAL.

  • Abbott Laboratories - Under the established pharmaceuticals products segment, the company manufacturers branded generic pharmaceuticals for established and emerging markets.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The multivitamin and mineral supplements market forecast report offer in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Multivitamin and Mineral Supplements Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the multivitamin and mineral supplements market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Multivitamin And Mineral Supplements Market?

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41% of the market’s growth will originate from North America during the forecast period. The US is the key market for multivitamin and mineral supplements in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.

Factors such as the rising number of product launches and continuous product innovations, the increasing disposable income of consumers in the region, and the growing appeal of leading healthy lifestyles will facilitate the multivitamin and mineral supplements market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 has brought about changes in the lifestyles of the people in North America. The lockdowns imposed to contain the spread of the disease led to restrictions on sports and outdoor activities, such as cycling and camping. Hence, people have been engaging in fitness activities at home, which is increasing the consumption of multivitamin and mineral supplements that increase the nutritional levels in the body. Prominent vendors, such as Archer Daniels Midland Co., have been ensuring that people have access to an adequate supply of nutrients required daily by ensuring the availability of multivitamin and mineral supplements at retail stores. Such factors and new product launches by vendors are anticipated to drive the growth of the regional multivitamin and mineral supplements market during the forecast period.

What are the Revenue-generating Application Segments in the Multivitamin and Mineral Supplements Market?

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The multivitamin and mineral supplements market share growth by the eye health supplements segment will be significant during the forecast period. The significant increase in the demand for eye health supplements from the elderly population who consume multivitamin and mineral supplements to combat age-related eye problems will drive the market in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the multivitamin and mineral supplements market size and actionable market insights on post COVID-19 impact on each segment.

 

Multivitamin and Mineral Supplements Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.8%

Market growth 2022-2026

$ 3.19 billion

Market structure

Fragmented

YoY growth (%)

3.9

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., BASF SE, Bausch Health Companies Inc., Bayer AG, Cargill Inc., Glanbia Plc, Innophos Holdings Inc., International Flavors and Fragrances Inc., Kappa Ingredients GmbH, New Chapter Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Pharmavite LLC, Pinnacle Health Nutrition Ltd., Reckitt Benckiser Group PLC, Swisse Wellness Pty Ltd., The Bountiful Co., and ZeaVision LLC.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Multivitamin and Mineral Supplements Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive multivitamin and mineral supplements market growth during the next five years
  • Precise estimation of the multivitamin and mineral supplements market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the multivitamin and mineral supplements industry across North America, Europe, Asia, and Rest of World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of multivitamin and mineral supplements market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Eye health supplements - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Eye health supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Eye health supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Eye health supplements - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Eye health supplements - Year-over-year growth 2021-2026 (%)
    • 5.4 Bone and joint supplements - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Bone and joint supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Bone and joint supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Bone and joint supplements - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Bone and joint supplements - Year-over-year growth 2021-2026 (%)
    • 5.5 Heart health supplements - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Heart health supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Heart health supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Heart health supplements - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Heart health supplements - Year-over-year growth 2021-2026 (%)
    • 5.6 Other supplements - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Other supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Other supplements - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Other supplements - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Other supplements - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 44: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 Asia - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Asia - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Asia - Year-over-year growth 2021-2026 (%)
    • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • 7.7 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.8 UK - Market size and forecast 2021-2026
      • Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.9 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Abbott Laboratories
              • Exhibit 93: Abbott Laboratories - Overview
              • Exhibit 94: Abbott Laboratories - Business segments
              • Exhibit 95: Abbott Laboratories - Key news
              • Exhibit 96: Abbott Laboratories - Key offerings
              • Exhibit 97: Abbott Laboratories - Segment focus
            • 10.4 Amway Corp.
              • Exhibit 98: Amway Corp. - Overview
              • Exhibit 99: Amway Corp. - Business segments
              • Exhibit 100: Amway Corp. - Key news
              • Exhibit 101: Amway Corp. - Key offerings
              • Exhibit 102: Amway Corp. - Segment focus
            • 10.5 Archer Daniels Midland Co.
              • Exhibit 103: Archer Daniels Midland Co. - Overview
              • Exhibit 104: Archer Daniels Midland Co. - Business segments
              • Exhibit 105: Archer Daniels Midland Co. - Key offerings
              • Exhibit 106: Archer Daniels Midland Co. - Segment focus
            • 10.6 BASF SE
              • Exhibit 107: BASF SE - Overview
              • Exhibit 108: BASF SE - Business segments
              • Exhibit 109: BASF SE - Key news
              • Exhibit 110: BASF SE - Key offerings
              • Exhibit 111: BASF SE - Segment focus
            • 10.7 Bayer AG
              • Exhibit 112: Bayer AG - Overview
              • Exhibit 113: Bayer AG - Business segments
              • Exhibit 114: Bayer AG - Key offerings
              • Exhibit 115: Bayer AG - Segment focus
            • 10.8 Glanbia Plc
              • Exhibit 116: Glanbia Plc - Overview
              • Exhibit 117: Glanbia Plc - Business segments
              • Exhibit 118: Glanbia Plc - Key offerings
              • Exhibit 119: Glanbia Plc - Segment focus
            • 10.9 International Flavors and Fragrances Inc.
              • Exhibit 120: International Flavors and Fragrances Inc. - Overview
              • Exhibit 121: International Flavors and Fragrances Inc. - Business segments
              • Exhibit 122: International Flavors and Fragrances Inc. - Key news
              • Exhibit 123: International Flavors and Fragrances Inc. - Key offerings
              • Exhibit 124: International Flavors and Fragrances Inc. - Segment focus
            • 10.10 Otsuka Pharmaceutical Co. Ltd.
              • Exhibit 125: Otsuka Pharmaceutical Co. Ltd. - Overview
              • Exhibit 126: Otsuka Pharmaceutical Co. Ltd. - Key offerings
            • 10.11 Pfizer Inc.
              • Exhibit 127: Pfizer Inc. - Overview
              • Exhibit 128: Pfizer Inc. - Product / Service
              • Exhibit 129: Pfizer Inc. - Key news
              • Exhibit 130: Pfizer Inc. - Key offerings
            • 10.12 Pharmavite LLC
              • Exhibit 131: Pharmavite LLC - Overview
              • Exhibit 132: Pharmavite LLC - Product / Service
              • Exhibit 133: Pharmavite LLC - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 134: Inclusions checklist
                • Exhibit 135: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 136: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 137: Research methodology
                • Exhibit 138: Validation techniques employed for market sizing
                • Exhibit 139: Information sources
              • 11.5 List of abbreviations
                • Exhibit 140: List of abbreviations
              • health: Includes veterinary drugs (excluded from the scope of the report)

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The multivitamin and mineral supplements market growth will increase by $3193.18 million during 2022-2026.
                The multivitamin and mineral supplements market is expected to grow at a CAGR of 4.8% during 2022-2026.
                Technavio has segmented the multivitamin and mineral supplements market by application (Eye health supplements, Bone and joint supplements, Heart health supplements, and Other supplements) and geographic (North America, Europe, Asia, and Rest of World (ROW)).
                Abbott Laboratories, Amway Corp., Archer Daniels Midland Co., BASF SE, Bausch Health Companies Inc., Bayer AG, Cargill Inc., Glanbia Plc, Innophos Holdings Inc., International Flavors and Fragrances Inc., Kappa Ingredients GmbH, New Chapter Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Pharmavite LLC, Pinnacle Health Nutrition Ltd., Reckitt Benckiser Group PLC, Swisse Wellness Pty Ltd., The Bountiful Co., ZeaVision LLC. are a few of the key vendors in the multivitamin and mineral supplements market.
                North America will register the highest growth rate of 40.7% among the other regions. Therefore, the multivitamin and mineral supplements market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the multivitamin and mineral supplements market growth are:
                • Increasing adoption of multivitamin and mineral supplements by the growing aging population
                • Aging population driving spending on multivitamin and mineral supplements
                The multivitamin and mineral supplements market vendors should focus on grabbing business opportunities from the eye health supplements segment as it accounted for the largest market share in the base year.
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