The Vitamins Segment – Global dietary Supplements Market 2018-2023
It is no secret that vitamins have been a staple with food supplements since the 1900’s. They are a fantastic way to avoid the flu season, boosting immunity and overall health as vitamins and minerals are an essential part of every day health.
The global food supplement market was valued at $96 billion in 2017 and is expected to grow at a CAGR of 6.9% between 2018 and 2023.
The food supplement market is mainly driven by the shift towards preventative health management practices, as well as rising healthcare cost and the increasing burden of lifestyle diseases. As well as this, the shift towards online shopping rather than physical retail stores, as well as the accessibility of any product to your door is expected to further boost future growth within this sector, as well as new trends such as probiotic and herbal supplement also expected to drive the market growth after the forecasting period.
Based on product type, the vitamin segment is steadily growing year on year, while the fatty acid segment such as omegas and D3 are the fastest growing supplement segment due to the popularity of omegas. Dietary supplements such as vitamins, minerals, botanicals, enzymes and proteins help promote general health and well being are all increasing year on year at a steady rate, due to the availability of information available to consumers, with the average consumer claiming to know up to 60% more now about supplementing dietary needs, then they did 10 years ago.
The vitamin segment of the global food supplement market was valued at $34.39 billion in 2017, with is expecting to grow at a CAGR of 6.6% during 2018-2023. Mineral based food supplements are becoming more established within the nutraceutical market due to the mass log of clinical data, as well as antioxidant supplements bursting into the category due to the popularity of superfoods this decade.
While looking at how vitamins and minerals trends will change in future years, the ongoing consumer focus on health and the continued success of demographic specific supplement will support growth within the category. However, with most adults questioning the health promises made, improving trust is needed if the category is to grow and penetrate the market fully. Personalised subscription packs could be explored to foster long-term brand loyalty, as well as nudge occasional users into establishing a daily routine with multiple products.
Multivitamin and mineral supplements allow your brand to cover a variety of categories within one capsule, preventing vitamin and mineral deficiencies that could be reducing progress in weight loss, increasing fatigue or reducing immunity. Multivitamin supplements can help to support a well balanced and healthy lifestyle, topping up the nutrients that are ingested throughout every day living through meals and drinks.
At Supplement Factory, all multivitamin and mineral supplements have been formulated through years of expertise and with the highest quality ingredients, all while being manufactured within the UK. We pride ourselves on the high levels of purity within our food supplements and in the good value of our range, all while having a fantastic sales support team to recommend and provide support while choosing the right product to include within your brand.
Contact us today to find out more.