Vitamin D Supplements Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Vitamin D Supplements Market Analysis
The global vitamin D supplements market is projected to grow at a CAGR of 7.34% during the forecast period (2022 - 2027).
With the sudden impact of COVID-19, the vitamin D market has witnessed an increase in demand for products that provide digestive and immune health, which has positively impacted the market. As a result, the sales of supplements such as proteins, vitamins, and omega-3 fatty acids have seen immense growth. This resulted in the launch of numerous new products to cater to the growing demand. Moreover, to satiate the surging demand and maintain safety norms, the manufacturers have been increasing their sales by encouraging consumers to shop online.
Dietary supplements are continuously evolving to cater to the niche population segments (pregnant and breastfeeding women, geriatric, and pediatric nutrition) due to intensive fortification initiatives governments undertake worldwide. The increasing awareness related to vitamin supplements has led to favorable sentiments toward the vitamin supplements market.
The demand for Vitamin-D supplements surged during the coronavirus pandemic, primarily due to the bulk buying behavior of consumers. It is speculated that bulk purchases are not merely a lockdown-induced trend but are expected to stay throughout 2020, as consumers are trying to reduce the number of store visits as a part of social distancing. Even while shopping for supplement products online, consumers tend to engage in bulk purchases to receive more value for their delivery charges.
Vitamin D Supplements Market Trends
This section covers the major market trends shaping the Vitamin D Supplements Market according to our research experts:
Escalating Demand for Dietary Supplements Across the Globe
Dietary supplements, such as vitamins, minerals, botanicals, enzymes, fatty acids, and proteins, help promote general health and well-being by preventing nutritional deficiency diseases. The preferences for dietary supplements are growing tremendously due to the global demographic trend with the rising aging population, increasing lifestyle-related diseases, and increasing healthcare costs. As a result of the increasing demand for dietary supplements, many countries are importing these supplements to meet their demand. For instance, according to UN Comtrade, in 2020, the United States was the world's leading importer of vitamin products. United States imported worth USD 1.5 billion, followed by Germany, France, and the Netherlands. Increasing sales of sports nutrition on account of growing fitness trends and sports activity, with new product launches, is likely to significantly impact the industry. Regulatory agencies are paying more attention to dietary supplement health claims, thus, the industry is becoming more regulated.
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North America Holds the Largest Share
The Vitamin D market in the region is led by high cases of orthopedic and bone-related issues. According to a US Bone and Joint Health Initiative report, "One in two Americans have a musculoskeletal condition, costing an estimated USD 213 billion each year, in treatment and lost wages". Additionally, an estimated 126.6 million Americans (one in two adults) are affected by a musculoskeletal condition- comparable to the total percentage of Americans living with a chronic lung or heart condition.Thus, the stats suggest a high burden on healthcare and consumers' personal expenditure that goes into the cure of bone treatment, increasingly leading them toward a better alternative industry of vitamin D supplements.
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Vitamin D Supplements Industry Overview
The global Vitamin D supplement market is highly fragmented owing to several global, regional, and local players. Key players in the market include Pfizer, Nature's Bounty Co, Amway Corporation, Pfizer Inc., and GlaxoSmithKline plc., which hold a major market share. The established players in the market are focusing on rapid expansion and new product launches to gain a better market share, efficient results, and a competitive edge over newer competitors. Expansion is another major strategy by key players to scale up their production efficiencies and develop niche offerings that cater to the customization requirements of consumers.
Vitamin D Supplements Market Leaders
The Nature's Bounty Co.
General Nutrition Centers, Inc.
*Disclaimer: Major Players sorted in no particular order
Vitamin D Supplements Market News
In November 2021, Holista Colltech launched a water-soluble vitamin D drop product in Malaysia. The product is said to be more than five times more bioavailable than fat-soluble vitamin D. The product known as Hydro-D was developed using a patented technology via the company's direct-selling subsidiary Alterni.
In March 2021, Royal DSM launched ampli-D, three times faster-acting vitamin D supplement in Australia to address global concerns and needs in supporting immune health. ampli-D is a faster and more effective way for Australian consumers to boost vitamin-D levels in the body in days and weeks instead of months to support immune health.
In November 2020, Yumi nutrition launched New Vitamin D and Vitamin C gummies. The Yumi sunshine Vitamin D gummies contain a bioactive form of Vitamin D and deliver a dose of 1000 IU Vitamin D3 per 2 gummies daily.
Vitamin D Supplements Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Vitamin D2 Supplements
5.1.2 Vitamin D3 Supplements
5.2 By Distribution Channel
5.2.2 Pharmacies/Health Stores
5.2.3 Online Retailing
5.2.4 Other Distribution Channels
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East & Africa
18.104.22.168 South Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Rest of Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Amway Corporation
6.4.2 General Nutrition Centers Inc.
6.4.3 The Nature's Bounty Co.
6.4.4 Pfizer Inc.
6.4.5 Otsuka Holdings Co. Ltd
6.4.6 Everidis Health Sciences LLC
6.4.7 Sapien Products LLC
6.4.8 THQ Nordic AB
6.4.9 GHC Holdings Inc.
6.4.10 Bayer Ag
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Vitamin D Supplements Market Research FAQs
What is the current Vitamin D Supplements Market size?
The Vitamin D Supplements Market is projected to register a CAGR of 7.34% during the forecast period (2023-2028).
Who are the key players in Vitamin D Supplements Market?
The Nature's Bounty Co., Amway, GlaxoSmithKline plc., General Nutrition Centers, Inc. and Pfizer Inc. are the major companies operating in the Vitamin D Supplements Market.
Which is the fastest growing region in Vitamin D Supplements Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Vitamin D Supplements Market?
In 2023, the North America accounts for the largest market share in the Vitamin D Supplements Market.
Vitamin D Supplements Industry Report
Statistics for the 2023 Vitamin D Supplements market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vitamin D Supplements analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.