The global multivitamins market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Multivitamins are medications that contain several vitamins such as vitamin A, vitamin B such as folic acid and vitamin 12, vitamin C, among others. They have several health benefits such as healthy hair, skin, and nails, better immunity, brain health, improved bone, and muscle function, among others. The major factor driving the demand for multivitamins is the new product launches across the globe.
For instance, in October 2021, MegaFood announced the launch of three new additions to its multivitamin line including Multivitamin for Daily Energy, Multivitamin for Daily Immune Support, and Multivitamin for Daily Stress Relief. Additionally, in September 2021, Life extension announced the launch of the plant-based multivitamin. Furthermore, in October 2021, Checkable Wellness announced the launch of its initial multivitamin supplement collection. This product line supports digestive health, urinary tract balance, hair and skin nourishment, memory improvement, and sleep enhancement.
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Some major players in the market include Herbalife Nutrition, Abbott Laboratories, and Amway Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2021, Care/of announced the launch of a new vitamin line in Target. It was aimed to mark the direct-to-consumer brand’s first foray into the retail market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Type
- By Application
- By Distribution Channel
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Herbalife Nutrition, Abbott Laboratories, Amway Corp., among others.
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Global Multivitamins Market Report by Segment
By Type
- Tablets
- Capsules
- Softgels
- Powder
By Application
- Energy and Weight Management
- General Health
- Bone and Joint Health
- Gastrointestinal Health
- Immunity
- Cardiac Health
- Diabetes
- Anti-Cancer
- Others
By Distribution Channel
- Online
- Retail Store
- Others
Global Multivitamins Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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