The over-the-counter (OTC) multivitamins mineral supplements market experienced substantial growth in recent years. In 2022, its global size reached USD 8.8 billion, and it is projected to reach USD 21.9 billion by 2032, with a compound annual growth rate (CAGR) of 10.7% during the forecast period. The expansion of the aging population, changes in lifestyle patterns, and increased public awareness of the importance of maintaining a healthy lifestyle are driving factors behind this revenue growth. Furthermore, the growing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular disorders is contributing to the demand for OTC multivitamins and mineral supplements.
The market is also benefiting from the increasing popularity of self-medication and the availability of OTC multivitamins and mineral supplements. Consumers are increasingly turning to these products as they provide a convenient and cost-effective means of maintaining good health. Moreover, the rise of e-commerce platforms and online pharmacies has made it easier for customers to access and purchase OTC multivitamins and mineral supplements.
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Top Companies:
- BASF SE
- Bayer AG
- GlaxoSmithKline plc
- Amway Corporation
- Abbott Laboratories
- Arkopharma Laboratoires Pharmaceutiques
- GNC Holdings Inc.
- DuPont de Nemours Inc.
- Pfizer Inc.
- Nature's Bounty Co.
- Royal DSM N.V.
Drivers of Tablets Otc Multivitamins Minerals Supplements Market
- Rising Health Consciousness: As people become more aware of the importance of maintaining good health and well-being, there is a growing interest in preventive healthcare. Multivitamins and mineral supplements are seen as a convenient and accessible way to fill potential nutrient gaps and support overall health.
- Increasing Aging Population: The global population is aging, and with age, the risk of nutrient deficiencies and age-related health conditions increases. Older adults often require additional vitamins and minerals to support their immune system, bone health, cognitive function, and energy levels. This demographic trend drives the demand for multivitamin and mineral supplements.
- Unbalanced Diets: Modern lifestyles and dietary habits may lead to unbalanced diets lacking in essential nutrients. Factors such as busy schedules, reliance on processed foods, and limited access to fresh produce can result in nutrient deficiencies. Multivitamins and mineral supplements help bridge these nutrient gaps and provide the necessary vitamins and minerals for optimal health.
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This report analyzes the Tablets Otc Multivitamins Minerals Supplements Market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Tablets Otc Multivitamins Minerals Supplements Market is provided to gain a deeper understanding of its growth and progress.
The global Tablets Otc Multivitamins Minerals Supplements Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook:
- Tablets
- Capsules
- Powders
- Gummies
- Others
End-Use Outlook:
- Adults
- Children
- Pregnant Women
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