Conscious Consumers Boost The Multivitamin Capsules And Tablets Market Demand
The Business Research Company’s Multivitamin Capsules And Tablets Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 16, 2022 /EINPresswire.com/ — Increasing health consciousness among individuals is driving the market for multivitamin capsules and tablets. Multivitamins tablets or capsules are often prescribed by doctors to treat or prevent vitamin deficiency due to poor diet, certain illnesses, or during pregnancy as it contains different vitamins that are normally found in foods and other natural sources. The demand for multivitamins also increased attributing to rising health concerns associated with the COVID-19 pandemic. According to SVC Labs Ltd, a UK-based supplement manufacturer the sales for vitamins, minerals and supplements have increased since the beginning of March 2020 as people are concerned with boosting immune health. The sales of vitamins, minerals, and supplements have experienced growth of approximately 20%-140% since March 2020. Therefore, rising health consciousness is expected to drive the multivitamin capsules and tablets market during the forecast period.
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The global multivitamin capsules and tablets market size is expected to grow from $18.24 billion in 2021 to $19.98 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The change in the market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The multivitamin capsules and tablets market share is expected to reach $27.33 billion in 2026 at a CAGR of 8.1%.
Shifting consumer focus towards flavored gummy vitamins for all ages is shaping the multivitamin capsules and tablets market. Multivitamin capsules and tablets market report shows that consumers are searching for more convenient and entertaining supplement experiences, which will lead to a move toward flavored gummy vitamins. For instance, in April 2021, Persona Nutrition, a US-based company that provides personalized daily supplement packs launched daily gummy vitamin packs for the entire family. These daily packs are designed to help users achieve specific health goals, such as immune health, focus, relaxation, everyday support, and hair, skin, and nail health. This family pack includes multivitamins to boost muscle and nerve function.
Major players covered in the global multivitamin capsules and tablets industry are Herbalife Nutrition, Abbott Laboratories, Bayer, Nature’s Bounty Co., Bionova Lifesciences, Ayanda GmbH, NutraMarks Inc, American Health Inc, Otsuka Holdings Co. Ltd. and Nature’s Way Products.
TBRC’s global multivitamin capsules and tablets market segments are by type into multivitamins tablets, multivitamins capsules, by distribution channel into store based, non-store based, by application into energy and weight management, general health, bone and joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, others, by end-user into adults, geriatric, pregnant women, children, infants.
Multivitamin Capsules And Tablets Global Market Report 2022 – By Type (Multivitamins Tablets, Multivitamins Capsules), By Distribution Channel (Store Based, Non-Store Based), By Application ( Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-Cancer), By End User (Adults, Geriatric, Pregnant Women, Children, Infants )– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a multivitamin capsules and tablets market overview, forecast multivitamin capsules and tablets market size and growth for the whole market, multivitamin capsules and tablets market segments, geographies, multivitamin capsules and tablets market trends, multivitamin capsules and tablets market drivers, restraints, leading competitors’ revenues, profiles, and multivitamin capsules and tablets market shares.
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