The over-the-counter (OTC) vitamins and dietary supplements market, valued at approximately US$ 90 billion in 2021, is projected to experience a 6% compound annual growth rate (CAGR) and reach US$ 160 billion by 2032. This substantial growth is driven by a global expected CAGR of 6.0% in OTC vitamin and dietary supplement sales over the next decade.
The OTC vitamins and dietary supplements market has emerged as a dynamic and swiftly evolving sector within the broader healthcare industry. The increasing global awareness of health and a proactive approach to well-being have led to significant growth in demand. This trend is propelled by factors such as heightened health consciousness, lifestyle changes, and a proactive attitude toward preventive healthcare.
Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=61
Market Outlook:
The OTC vitamins and dietary supplements market holds a promising outlook, propelled by rising consumer awareness and a growing trend toward self-care. This market segment has expanded beyond traditional pharmaceuticals, as consumers acknowledge the role of vitamins and supplements in maintaining overall health and preventing potential ailments. A significant driver is the aging global population, emphasizing healthy aging and the prevention of age-related health issues.
Governments and healthcare organizations worldwide play a crucial role in promoting preventive healthcare measures, leading to increased regulatory support and initiatives encouraging the adoption of OTC vitamins and dietary supplements. Additionally, the global focus on enhancing immune health, heightened by recent public health crises, has introduced a new dimension to the market, driving demand for products rich in essential vitamins and minerals.
Market Insights:
A comprehensive examination of the over-the-counter (OTC) vitamins and dietary supplements market reveals a diverse array of products tailored to various health needs and preferences. Popular categories include multivitamins, omega-3 fatty acids, probiotics, and herbal supplements, each offering specific health benefits. There is a growing trend among consumers to seek personalized solutions, leading to the rise of niche products targeting specific demographics or health concerns.
The distribution landscape for OTC vitamins and dietary supplements has undergone a significant transformation with the emergence of e-commerce. Online platforms have become a major channel, providing consumers with convenient access to a wide range of products, detailed information, and customer reviews. This digital shift in distribution has facilitated market growth, enabling reach to a broader consumer base.
Key Players:
- Koninklijke DSM N.V.
- Reckitt Benckiser LLC
- Otsuka Holdings Co. Ltd.
- CSPC Pharmaceutical Group Limited
- Sanofi S.A.
- Atrium Innovations Inc.
- I. du Pont de Nemours and Co.
- Bactolac Pharmaceutical Inc.
- Dil Limited.
- GlaxoSmithKline plc.
- Pfizer Inc.
- Lonza Group Ltd.
Competitive Landscape:
Manufacturers of OTC vitamins and dietary supplements are concentrating on broadening the scope of their businesses by boosting production and introducing new products that feature cutting-edge technologies.
Pharmavite established a program in April 2022 to support businesses creating OTC mental wellness and supplement alternatives with financing or collaborations in order to meet development and commercialization goals.
The newest probiotic weight loss pill from BioFit, which contains a variety of lactobacillus bacteria strains and is designed to treat metabolic imbalances for detoxification and inflammation reduction, was released in September 2021.
In March 2021, Sanofi and Fidia Farmaceutici, an Italian privately held company, reached an agreement to sell an integrated portfolio of anti-inflammatory medications. Sanofi’s continuous strategic transformation is being continued with this deal, which streamlines and streamlines its portfolio to increase profitability.
In December 2021, Nestlé and a group of investors led by Permira Funds reached an agreement for Nestlé to pay USD 2.3 billion in cash to purchase privately held Atrium Innovations, a world leader in nutritional health products. Sales for Atrium are projected to be close to USD 700 million in 2022.
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
- By Region :
- North America
- Europe
- APEJ
- Japan
- Middle East & Africa
- Latin America
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=61
About Fact.MR :
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400 Rockville, MD 20852
United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: [email protected]
Follow Us: LinkedIn | Twitter | YouTube