The global OTC vitamin & dietary supplements market is projected to grow at a staggering 6% value CAGR, reaching US$ 181 Billion, following an assessment period ranging from 2022-2032. As per a newly published report on this industry by Fact.MR, a valuation of US$ 101.11 Billion has been anticipated during FY 2022.
From 2017-2021, demand for OTC Vitamin & Dietary Supplements flourished at a growth rate of 5.8%, concluding at US$ 95.4 Billion. Increasing adoption of self-medication for primary health issues treatment and rising preference for dietary supplements in daily consumption is expected to boost the sales of OTC vitamins & dietary supplements.
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Increasing awareness among consumers of the nutritive benefits & health advantages of these products and sales of vitamins & dietary supplements are expected to grow in emerging economies. OTC vitamins and dietary supplements market trends and rising disposable income and financial expansion have a significant impact on the performance of OTC vitamins & dietary supplements.
Key Takeaways from the Market Study
- Global OTC vitamin & dietary supplements market to expand nearly 2x from 2022-2032
- Capsules are the most sought-after component, flourishing at a 6.1% CAGR
- By Distribution Channel, the Sale of OTC Vitamin & Dietary Supplements in pharmacies is likely to register a CAGR of 5.8%
- The U.S to emerge as one of the most opportunistic markets, witnessing a significant growth rate throughout the forecast period 2022-2032
Increasing Popularity of probiotics and health supplements among millennials for enhanced immunity and better digestion is likely to Fuel the market growth of OTC Vitamin& Dietary Supplements over the Forecast period. comments an analyst at Fact.MR.
Competitive Landscape
Prominent service providers are taking advantage of the rapidly digitizing landscape to introduce new services equipped with cutting-edge innovative technology. Some notable developments are as follows:
- In April 2022, Pharmavite announced a program to provide investments or partnerships to companies developing OTC mental wellness and supplement alternatives to achieve development and commercialization targets.
- In September 2021, BioFit introduced its latest probiotic weight loss supplement that consists of a mixture of lactobacillus bacteria strains and is intended to treat metabolic imbalances for detoxification and inflammation reduction.
- In March 2021, Sanofi agreed to divest an integrated portfolio of its anti-inflammatory drugs to Fidia Farmaceutici, a privately-held company headquartered in Italy. This transaction continues Sanofi’s ongoing strategic transformation by simplifying its portfolio and streamlining to enhance profitability.
- In December 2021, Nestlé agreed to acquire privately-held Atrium Innovations, a global leader in nutritional health products, from a group of investors led by Permira Funds for USD 2.3 billion in cash. Atrium’s 2022 sales are expected to reach almost USD 700 million.
Key Companies Profiled
- Koninklijke DSM N.V.
- Reckitt Benckiser LLC
- Otsuka Holdings Co. Ltd.
- CSPC Pharmaceutical Group Limited
- Sanofi S.A.
- Atrium Innovations Inc.
- E. I. du Pont de Nemours and Co.
- Bactolac Pharmaceutical Inc.
- Dil Limited.
- GlaxoSmithKline plc.
- Pfizer Inc.
Key Segments in OTC Vitamin & Dietary Supplements Industry Research
- By Form :
- Liquid Supplements
- Powder Supplements
- Tablet Supplements
- Capsule Supplements
- By Function :
- Immune health
- Digestive Health
- Heart Health
- Bone & Joint Health
- By OTC Channel :
- Pharmacies
- Online
- Modern Trade
Regional Analysis For OTC vitamins and dietary supplements Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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Key Questions Covered in the OTC Vitamins and dietary supplements Market Report
- What is the projected value of the OTC vitamins and dietary supplements factors Industry in 2023?
- At what rate will the global OTC vitamins and dietary supplements factors market size grow until 2032?
- Which are the factors hampering the growth of OTC vitamins and dietary supplements factors?
- Which region is expected to lead in the global OTC vitamins and dietary supplements factors market By 2032?
- Which are the factors driving the OTC vitamins and dietary supplements factors Industry during the forecast period?
- What is the expected market value of the OTC vitamins and dietary supplements factors market during the forecast period?
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