Global Vitamins & Minerals Market Size, Share, Growth Analysis, By Type(Vitamin C, Vitamin D), By Application(Food and Beverages, Dietary Supplements) - Industry Forecast 2024-2031

Global Vitamins & Minerals Market size was valued at USD 24.31 billion in 2022 and is poised to grow from USD 25.43 billion in 2023 to USD 36.44 billion by 2031, growing at a CAGR of 4.6% during the forecast period (2024-2031).

The market is expected to develop as a result of the aging population, growing knowledge of the advantages of vitamins and minerals, and rising demand for wellness and health products. The human body needs vitamins and minerals as vital nutrients for a number of processes, including growth, metabolism, and immunity. The vitamins and minerals market is likely to witness considerable expansion in the coming years, driven by the increasing demand for health and wellness goods, the rising awareness about the advantages of vitamins and minerals, and the growing geriatric population. For producers, distributors, and retailers, the market offers tremendous potential, but to take advantage of its dynamics and trends, thorough research and strategic planning are also necessary.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Vitamins & Minerals Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Vitamins & Minerals Market Segmental Analysis

The global vitamins & minerals market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into vitamin C, vitamin D, calcium, iron, zinc, magnesium, and others. In terms of classification by application, the market is segmented into food and beverages, dietary supplements, pharmaceuticals, and personal care products, among others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Vitamins & Minerals Market

Customers are growing more aware of their health and the role that a healthy diet has in preventing chronic diseases and preserving their current state of health. As a result, there is an increasing market for goods high in vitamins and minerals. Furthermore, there is now more focus on preventive healthcare due to the rising incidence of lifestyle disorders like diabetes, obesity, and cardiovascular disease. Due to the perception that these products are a practical and efficient means of meeting nutritional needs and preventing chronic diseases, there has been an increase in demand for vitamin and mineral-containing functional food products and dietary supplements.

Restraints in the Global Vitamins & Minerals Market

Although vitamins and minerals are necessary components for the body, taking too much of any of them can be harmful and have negative consequences on health. This is especially true for fat-soluble vitamins, which over time can build up in the body and become poisonous, such vitamin A, D, and E. For instance, a high vitamin A intake may result in migraines, bone discomfort, and liver damage. Hypercalcemia, which can result from high vitamin D levels, can include nausea, vomiting, and weakness in the muscles. Overconsumption of iron can harm the liver and result in digestive issues including diarrhea and constipation.

Market Trends of the Global Vitamins & Minerals Market

Consumers are becoming increasingly interested in managing their health and wellness as lifestyle disorders like diabetes, obesity, and heart disease become more common. As a result, there is an increasing need for vitamins and minerals as people want to add these vital nutrients to their diets.