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OTC Vitamins and Minerals Dietary Supplements Market Size, Share, Trends, Growth Outlook

OTC Vitamins and Minerals Dietary Supplements Market Insights, 2023- Forecasts and Opportunities by Type (Vitamins, Minerals, Other Dietary Supplements), Applications (Bone and Joint Health, Cardiac Health, Immunity Boosting & General Health, Gastrointestinal, Weight management & Energy, Others), Companies and Countries to 2030

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  • OTC Vitamins and Minerals Dietary Supplements Market
  • |Published Month : February, 2024
  • |No. of Pages : 180

The global OTC vitamins and minerals dietary supplements market is witnessing swift growth, owing to increased consumer awareness and the availability of products in different forms. The OTC vitamins and minerals dietary supplements market report provides insights into different product types across diverse applications including Bone and Joint Health, Cardiac Health, Immunity Boosting & General Health, Gastrointestinal, Weight management and Energy, and Others. Further, key companies offering the products are also profiled in the research study. In addition, country-wise forecasts are provided for 2030.

OTC Vitamins and Minerals Dietary Supplements Market Study Highlights, 2023

  • The global OTC Vitamins and Minerals Dietary Supplements Market Size stood at US$ 52.3 Million in 2022 and is poised to register 8.2% growth over the forecast period from 2023 to 2030
  • Vitamins are the largest application types of OTC Vitamins and Minerals Dietary Supplements with a 52% market share. Other key types of products including Minerals and Dietary Supplements are analyzed in the report.
  • Among product applications, Bone and Joint Health, Cardiac Health, Immunity Boosting, General Health, Gastrointestinal, Weight management and Energy, and Others are analyzed in the research study. Of these, bone and joint health account for the dominant market share, in value terms.
  • Driven by rapid adoption across end-user industries, and well-established healthcare infrastructure, North America dominates the global OTC Vitamins and Minerals Dietary Supplements market with the highest market share in value terms.
  • Key market driving forces include- Sedentary lifestyles and increasing prevalence of obesity, Strong growth in online sales, Plant-based supplements to gain significant business growth, Increasing geriatric population, Focus on emerging countries remains a major marketing strategy for expansion, Trend towards self-medication supports over-the-counter medicines, and Promotions and marketing initiatives are identified among main market dynamics
  • On the other hand, challenges associated with a negative perception of dietary supplement products, the high cost of dietary supplements restrict the market growth
  • The market is relatively concentrated with intense competitive conditions among leading market players. Intense competitive conditions exist among large players, resulting in increased mergers and acquisitions activities.

OTC Vitamins and Minerals Dietary Supplements Market Outlook to 2030

OTC Vitamins and Minerals Dietary Supplements Market Outlook to 2030

OTC Vitamins and Minerals Dietary Supplements Market Overview

Vitamins and minerals are essential substances for the human body and are the most frequently used dietary supplements. Vitamin types include Vitamin A, Vitamin C, Vitamin D, Vitamin E, and Vitamin- K, and the B vitamins including thiamin (B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), pyridoxal (B6), cobalamin (B12), biotin, and folic acid are marketed.

Further, diverse mineral types essential for human health include calcium, phosphorus, potassium, sodium, chloride, magnesium, iron, zinc, iodine, sulfur, cobalt, copper, fluoride, manganese, and selenium.

Though obtaining vitamins and minerals through a healthy diet pattern of nutrient-dense foods is suggested, consumer segments often fail to obtain them through natural sources and accordingly, procure from diverse distribution channels in the form of tablets, capsules, gummies, liquid, powder, soft gels and others.

Globally, the demand for dietary supplements is increasing rapidly driven by growing health awareness among millennials, the need for remaining fit, and the wide popularity of supplements for maintaining a health profile. Increasing awareness among consumers related to lifestyle diseases encourages market demand in developed economies.

Further, over the past few years, the demand for non-prescription drugs for supplementing health in developing countries is also being observed, largely driven by promotion through celebrities and emerging health awareness trends. The availability of products in wide ranges such as tablets, capsules, powder, and other forms is also an important contributor to the overall market growth.

During the COVID-19 pandemic period, OTC vitamins and minerals dietary supplements were procured in large volumes as they are believed to play a vital role in improving immunity and fighting against the virus.

Key factors driving the market include- Sedentary lifestyles and increasing prevalence of obesity, Strong growth in online sales, Plant-based supplements to gain significant business growth, Increasing geriatric population, Focus on emerging countries remains a major marketing strategy for expansion, Trend towards self-medication supports over-the-counter medicines, Promotions, and marketing initiatives and others. On the other hand, negative perception of dietary supplement products, and the high cost of dietary supplements will pose challenges to market growth.

OTC Vitamins and Minerals Dietary Supplements Market Trend - Plant-based supplements to gain significant business growth

The global market for plant-based products is rapidly increasing. In particular, better absorption, lower toxicity, easy digestion, and other benefits of plant foods are encouraging the adoption of essential vitamins and minerals that are completely plant-based. These products are usually free from additional coloring, artificial sweeteners, and preservatives. Consumer shift towards plant-based herbal supplements and others is encouraging new companies to foray into the segment. Vegan-friendly products free from sugar, toxins, sweeteners, and others are widely marketed by companies. In particular, sales through online website portals are rapidly supporting the market penetration of vitamins and minerals sourced from 100% fresh fruits, vegetables, and superfoods.

OTC Vitamins and Minerals Dietary Supplements Market Opportunities- The trend towards self-medication supports over-the-counter medicines

Over-the-counter medicine, also known as OTC or non-prescription medicine comprise mainly of vitamins, minerals, herbs, supplements, and other drugs that are being widely consumed by adults and the geriatric population. OTC vitamins, minerals, and dietary supplements are consumed by individuals amid strong growth in self-medication trends. In addition, lifestyle, socio-economic trends, and ease of access encourage OTC medicines. Further, with an increasing willingness to try alternative medicines, the government moves to lower public health spending and the emerging role of the retail sector will support the OTC vitamin and minerals market.

OTC Vitamins and Minerals Dietary Supplements Market Share Analysis- Vitamins dominate the global markets

OTC Vitamins and Minerals Dietary Supplements Market Share

The increasing prevalence of vitamin deficiencies, increasing attention to health and prevention by consumers, and consumer awareness regarding vitamin supplements are encouraging companies to address the custom needs of different population segments. The rise in healthcare costs, especially among the aging population is encouraging the market for vitamin supplements. Increasing awareness and information coupled with lower reimbursements are supporting the demand in medium-income segments. Further, the growing awareness of the benefits of consuming vitamins derived from natural ingredients will be one of the key factors fuelling the market over the forecast period.

Among different vitamin supplement types procured in the over-the-counter channels is dominated by multivitamins. In particular, the COVID-19 pandemic led to strong demand for multivitamin tablets, capsules, and powders. Around 40% of the market is dominated by multivitamins worldwide. Awareness campaigns regarding health and wellness through vitamin supplements are projected to fuel the market outlook.

OTC Vitamins and Minerals Dietary Supplements Market Segmentation

Types

  • Vitamins
  • Minerals
  • Other Dietary Supplements

Applications

  • Bone and Joint Health
  • Cardiac Health
  • Immunity Boosting & General Health
  • Gastrointestinal
  • Weight management & Energy
  • Others

Companies Profiled in the Research Study-

  • Pfizer
  • GlaxoSmithKline
  • Sanofi SA
  • Merck Group
  • Royal DSM
  • Abbott Laboratories
  • Reckitt Benckiser
  • Abbvie
  • Alacer Corp
  • Colgate-Palmolive Company

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

1. Executive Summary

1.1 Introduction to OTC Vitamins and Minerals Dietary Supplements Markets

1.2 OTC Vitamins and Minerals Dietary Supplements Market Size Outlook, 2021- 2030

1.3 Growth Opportunities in OTC Vitamins and Minerals Dietary Supplements Industry

1.4 Winning Strategies for the post-pandemic future

 

2. Report Guide

2.1 Market Definition and Scope

2.2 Market Segmentation

2.3 Research Methodology

2.4 Forecast Methodology

2.5 List of Abbreviations

 

3. Growth Opportunity Analysis

3.1 Key OTC Vitamins and Minerals Dietary Supplements Market Trends

3.1.1 Sedentary lifestyles and increasing prevalence of obesity

3.1.2 Strong growth in online sales

3.1.3 Plant-based supplements to gain significant business growth

 

3.2 Key OTC Vitamins and Minerals Dietary Supplements Market Growth Drivers

3.2.1 Increasing geriatric population

3.2.2 Trend toward self-medication supports over-the-counter medicines

3.2.3 Promotions and marketing initiatives

 

3.3 Key OTC Vitamins and Minerals Dietary Supplements Market Growth Restraints

3.3.1 Negative perception of dietary supplement products

3.3.2 High cost of dietary supplements

 

4 OTC Vitamins and Minerals Dietary Supplements Market Outlook – Scenario Analysis

4.1 Low Growth Case Scenario Forecasts: OTC Vitamins and Minerals Dietary Supplements Market Size Outlook to 2030

4.2 Reference Growth Case Scenario Forecasts: OTC Vitamins and Minerals Dietary Supplements Market Size Outlook to 2030

4.3 High Growth Case Scenario Forecasts: OTC Vitamins and Minerals Dietary Supplements Market Size Outlook to 2030

 

5. OTC Vitamins and Minerals Dietary Supplements Market Segmentation- Outlook by Type

5.1 OTC Vitamins and Minerals Dietary Supplements Market Share Analysis by Type, 2023

5.2 Vitamins Market Outlook to 2030

5.3 Minerals Market Outlook to 2030

5.4 Other Dietary Supplements Market Outlook to 2030

 

6. OTC Vitamins and Minerals Dietary Supplements Market Segmentation- Outlook by Technology

6.1 OTC Vitamins and Minerals Dietary Supplements Market Share Analysis by Technology, 2023

6.2: Bone and Joint Health Market Outlook to 2030

6.3: Cardiac Health Market Outlook to 2030

6.4 Immunity Boosting & General Health Market Outlook to 2030

6.5 Gastrointestinal Market Outlook to 2030

6.6 Weight management & Energy Market Outlook to 2030

6.7 Other Vitamins and Minerals Dietary Supplements Market Outlook to 2030

 

7. North America OTC Vitamins and Minerals Dietary Supplements Market Outlook and Opportunities to 2030

7.1 Market Snapshot, 2023

7.2 North America OTC Vitamins and Minerals Dietary Supplements Market Growth Opportunities

7.2.1 North America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Type, 2021 to 2030

7.2.2 North America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Application, 2021 to 2030

7.2.3 North America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Country, 2021 to 2030

7.3 United States OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

7.4 Canada OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

7.5 Mexico OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

 

8. Europe OTC Vitamins and Minerals Dietary Supplements Market Outlook and Opportunities to 2030

8.1 Market Snapshot, 2023

8.2 Europe OTC Vitamins and Minerals Dietary Supplements Market Growth Opportunities

8.2.1 Europe OTC Vitamins and Minerals Dietary Supplements Market Outlook by Type, 2021 to 2030

8.2.2 Europe OTC Vitamins and Minerals Dietary Supplements Market Outlook by Application, 2021 to 2030

8.2.3 Europe OTC Vitamins and Minerals Dietary Supplements Market Outlook by Country, 2021 to 2030

8.3 Germany OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

8.4 France OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

8.5 United Kingdom OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

8.6 Spain OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

8.7 Italy OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

8.8 Other Europe OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

 

9. Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Outlook and Opportunities to 2030

9.1 Market Snapshot, 2023

9.2 Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Growth Opportunities

9.2.1 Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Outlook by Type, 2021 to 2030

9.2.2 Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Outlook by Application, 2021 to 2030

9.2.3 Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Outlook by Country, 2021 to 2030

9.3 China OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

9.4 Japan OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

9.5 India OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

9.6 South Korea OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

9.7 Indonesia OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

9.8 Other Asia Pacific OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

 

10. South and Central America OTC Vitamins and Minerals Dietary Supplements Market Outlook and Opportunities to 2030

10.1 Market Snapshot, 2023

10.2 South and Central America OTC Vitamins and Minerals Dietary Supplements Market Growth Opportunities

10.2.1 South and Central America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Type, 2021 to 2030

10.2.2 South and Central America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Application, 2021 to 2030

10.2.3 South and Central America OTC Vitamins and Minerals Dietary Supplements Market Outlook by Country, 2021 to 2030

10.3 Brazil OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

10.4 Argentina OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

10.5 Other Latin America OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

 

11. Middle East and Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook and Opportunities to 2030

11.1 Market Snapshot, 2023

11.2 Middle East and Africa OTC Vitamins and Minerals Dietary Supplements Market Growth Opportunities

11.2.1 Middle East and Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook by Type, 2021 to 2030

11.2.2 Middle East and Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook by Application, 2021 to 2030

11.2.3 Middle East and Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook by Country, 2021 to 2030

11.3 Saudi Arabia OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

11.4 United Arab Emirates (the UAE) OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

11.5 Other Middle East OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

11.6 Egypt OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

11.7 South Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

11.8 Other Africa OTC Vitamins and Minerals Dietary Supplements Market Outlook, 2021 to 2030

 

12. Profiles of major world OTC Vitamins and Minerals Dietary Supplements Companies

12.1 Pfizer

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.2 GlaxoSmithKline

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.3  Sanofi SA

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.4 Merck Group

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.5 Royal DSM

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.6 Abbott Laboratories

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.7 Reckitt Benckiser

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

12.8 Abbvie

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

12.9 Alacer Corp

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

12.10 Colgate-Palmolive Company

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

 

13. Appendix

13.1 Publisher’s Expertise

13.2 List of Tables and Charts

13.3 List of Exhibits

13.4 Legal Disclaimer                     

 

Frequently Asked Questions

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