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The vitamin C supplements market size is estimated to grow by USD 3.85 billion accelerating at a CAGR of 7.66% between 2023 and 2028. The increasing prevalence of vitamin C deficiency is a vital market driver, necessitating demand for nutritional supplements. Consumers acknowledge the crucial role of antioxidants in promoting immune support and overall well-being. Lifestyle changes and busy schedules make it challenging to maintain optimal health, leading to deficiencies and weakened immune systems.
The rise in scurvy cases underscores the necessity for vitamin supplements to bolster immune response. This trend emphasizes the importance of quality products to ensure efficacy and wellness promotion. Business strategies, including mergers and acquisitions, shape the market landscape for nutritional supplements. Companies aim to enhance distribution channels and product portfolios, as seen in Bayer AG's investment in Care/of, a dietary supplementation service offering personalized vitamin supplements. Such strategies align with the growing awareness of the benefits of nutritional support in disease prevention and overall wellness enhancement. The market evolution highlights the significance of effective metabolism and absorption for maximizing bioavailability and efficiency of nutritional supplements
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The market share growth by the offline segment will be significant during the forecast period. The offline distribution segment of the global market contains supermarkets and hypermarkets, discount stores, convenience stores, individual retailers, and pharmacy stores. The offline distribution channel is anticipated to grow due to the increasing number of retail stores. Market players are focusing on increasing their geographical presence.
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The offline segment was valued at USD 3.90 billion in 2018. They are collaborating with large retail outlets, such as Walmart Inc. (Walmart), Costco Wholesale Corp. (Costco), and The Kroger Co. (Kroger). The wide presence and popularity of these stores are expected to increase the adoption of this product. Supermarket and hypermarket chains are focusing on increasing the number of stores. Hence, such factors are expected to drive the growth of the global market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US and Canada are the major countries in the vitamin C market in North America. The strong presence of key market players, the rising demand for health additives, new product launches, and growing disposable incomes are expected to drive the market in the region.
Moreover, key market players in the region adopt strategies such as partnerships with online sales channels, such as Walmart and Amazon, to increase the sales of their products. The growing number of online users and the presence of well-established distribution channels for vitamin supplement products in the region are expected to fuel the in the region during the forecast period.
The increasing demand for wellness benefits propels the vitamin C supplements market, emphasizing dosage levels and formulation potency. High concentrations and balanced compositions cater to vitality maintenance and immune defense functions. Challenges persist in optimizing potency while ensuring effective dosage levels for maximal benefits. Formulation composition remains crucial for bolstering immune system support amidst evolving consumer preferences.
Increasing market growth is primarily fueled by the widespread deficiency of vitamin C, which affects consumers' health and immunity. Recognizing the significance of food and nutritional supplements in promoting wellness, consumers are increasingly turning to various products such as health supplements to reap diverse benefits. This growing awareness emphasizes the crucial role of antioxidants in disease prevention and immune support. Lifestyle changes and hectic schedules make it challenging for individuals to maintain proper health, leading to deficiencies and weakened immune systems.
The rise in diseases like scurvy highlights the necessity for adequate dosage of vitamin C, found in various forms such as pills, tablets, and capsules. As cases of scurvy increase, so does the demand for nutritional supplements aimed at enhancing immunity and providing overall health protection.
Business strategies adopted by players is the primary trend shaping market growth. Market players are opting for diverse business strategies, such as mergers and acquisitions M&A, and partnerships and collaborations with distributors to improve their distribution channels and upgrade their product portfolios. For instance, in November 2020, Bayer AG announced the closing of its investment in Care/of, giving it majority ownership in the privately owned, personalized direct-to-consumer nutrition company.
Moreover, care/of is a subscription service that offers personalized vitamins and helps consumers establish a daily routine of taking nutritional additives that are specially adapted to their needs. Therefore, the business strategies adopted by companies are expected to drive the growth of the global market during the forecast period.
Threat of counterfeit dietary supplements is a challenge that affects market growth. Counterfeiting refers to the branding and sales of non-authorized products and is a main challenge for genuine market players. Counterfeit products are manufactured using low-cost, non-standard materials and are not tested or approved by regulatory authorities. Therefore, they are unfit for human consumption. Most consumers are unable to distinguish between original supplementary products and counterfeit ones and buy the latter due to their low cost.
Moreover, regulatory authorities in many countries have identified several cases of counterfeit dietary supplement sales and have banned the use of such products. However, even stringent regulations and penalties are unable to prevent the production of such counterfeit additives completely, and the supply of these products continues unabated, especially in developing countries. Thus, the threat of counterfeit dietary additives is expected to negatively hamper the growth of the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories: The company offers vitamin C additives namely Abbott Limcee Vitamin C.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the dynamic realm of the Health and Wellness Industry, Vitamin C supplements, including Natural Supplements and Herbal Supplements, have emerged as indispensable Wellness Products. With a surge in demand for Immune Health Supplements and Antioxidant Supplements, the market for Vitamin C Pills, Tablets, Capsules, Powder, Chewable Vitamins, and Gummies is witnessing unprecedented growth. Consumers are increasingly turning to Natural, Herbal, and Organic Supplements to fortify their health.
The Health Benefits of Vitamin C are well-documented, from Boosting Immunity and Preventing Cold and Flu to enhancing Skin Health and Collagen Production. Moreover, Vitamin C is pivotal in Wound Healing and acts as a potent Antiviral and Antioxidant, reflecting its diverse applications in Cold and Flu Prevention, Skin Health Supplements, and Wound Healing Supplements.
Market growth analysis indicates promising prospects, with market research and growth paving the way for insightful forecasting and Market forecasting. As the demand for Citrus Supplements and Dietary Nutrition escalates, understanding daily Vitamin intake and Vitamin C sources becomes paramount. Stay ahead in the market with comprehensive market reports guiding your strategies
Vitamin C Supplements Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.66% |
Market growth 2024-2028 |
USD 3.85 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.21 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Amway Corp., Bayer AG, Doctors Best Inc., Garden of Life LLC, Jarrow Formulas Inc., Kikkoman Corp., Koninklijke DSM NV, Life Extension Foundation Buyers Club Inc., Nestle SA, Novotech Nutraceuticals Inc., NOW Health Group Inc., Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Swanson Health Products Inc., The Clorox Co., The Procter and Gamble Co., Thorne HealthTech Inc., Viva Naturals Inc., and Carlson Laboratories Inc. |
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 |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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