The global multivitamin capsules and tablet industry is expected to proclaim a significant rise due to the growing health consciousness and expansion of fitness centers. The increasing positive aspect towards multivitamin capsules due to the surging cases of cardiovascular ailments can augment the trade during the assessment period. The growing importance of e-commerce portals as a selling platform for nutraceutical manufacturers is likely to propel the market expansion in the forthcoming tenure. Furthermore, the surging cases of malnutrition among infants are likely to significantly strengthen the multivitamin capsules and tablet industry.
According to Market Research Future (MRFR), the global multivitamin capsules & tablets market size is anticipated to acquire the market value of USD 21826.4 million while expanding at a CAGR of 8.20% by 2030.
On the other hand, overconsumption of multivitamins can have an adverse impact on the human body, which can hamper market growth. However, the outbreak of COVID-19 is expected to increase the demand for nutraceuticals, which can boost the multivitamin and capsules industry during the assessment period.
Market Segmentation
The segmental analysis of the global multivitamin capsules and tablets market is done by distribution channel and end-user.
The distribution channel-based segments of the global multivitamin capsules and tablets market are store-based and non-store-based. The store-based segment has further been sub-divided into supermarkets & hypermarkets, specialty stores, and others. The store-based segment is expected to dominate the market due to supermarkets & hypermarkets' participation in propelling the sales of multivitamin capsules & tablets.
The end user-based segments of the global multivitamin capsules and tablets market are men, women, and unisex. Among all segments, the global market is anticipated to be dominated by the unisex segment during the forecast period. The growing vitamin deficiency caused due to poor diet is likely to be a significant factor driving the segment.
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Regional Analysis
Based on the region, the global market for multivitamin capsules and tablets market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
As per the assessment by MRFR, the APAC region is likely to dominate the global market during the forecast period owing to the growing health consciousness among the expanding populace. The industry in the region is expected to rise due to the changing lifestyle and growing poor food quality. Furthermore, the adoption of a sedentary lifestyle is anticipated to bring deficiency in the body that is likely to increase the demand for multivitamins capsules and tablets. Besides, the outbreak of COVID-19 is projected to boost the need for the same.
North America is predicted to acquire significant market share during the forecast period owing to the increasing adverse health condition among the expanding population. The region is expected to be a lucrative market due to the presence of key players. Furthermore, the growing focus on preventive healthcare is projected to augment the regional market in the coming period.
Europe is anticipated to acquire significant market value during the review period owing to the increasing expenditure on healthcare. Germany is projected to make a substantial contribution to developing the regional market.
MEA is expected to witness slow progress due to the presence of underdeveloped economies.
Key Players
Eminent players of the global multivitamin capsules and tablets market are Glanbia plc (Ireland), The Nature’s Bounty Co. (USA), Nu Skin Enterprises, Inc. (United States), Herbalife Nutrition Ltd. (USA), Amway Corp (USA), Abbott Laboratories (USA), Bayer AG (Germany), Otsuka Holdings Co., Ltd (Japan), GlaxoSmithKline plc (United Kingdom) and Nature's Way Products, LLC (USA).
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