The
global vitamin
supplements market, estimated to be valued at
$36,929 million in 2014, is expected to grow at 6.5% CAGR during 2014 to 2020,
mainly attributed to growing consciousness among consumer about preventative
healthcare. Healthcare spend is increasing with the increasing research and
development (R&D) expenditure. Due to the increasing cost of healthcare,
people are turning towards supplement products, including vitamin supplements, for
a healthy life. According to the European Federation of Pharmaceutical
Industries and Associations (EFPIA) member associations, the European
pharmaceutical R&D expenditure increased from $37,030 million in 2011 to
$38,055 million in 2012. In the U.S., the expenditure increased from $36,374
million in 2011 to $36,810 million in 2012. Asia-Pacific holds a major market
share in the global vitamin supplements market, followed by North America and
Europe. Asia-Pacific is expected to dominate the market in the forecast period
owing to increasing geriatric population.
Explore detailed TOC and Scope of the report: https://www.psmarketresearch.com/market-analysis/vitamin-supplements-market
Deficiency
of vitamin in body at older age increases the risk of diseases, such as night
blindness, diminishing eyesight, fragile bones and mental disorders. This
requires more nutrient-rich foods at older age. It is important to maintain
balance of nutrients, including vitamin, to keep the body functioning properly.
These deficiencies can be fulfilled by consuming additional supplement
products. Vitamin supplement is one among the majorly consumed supplements
products at later age. People aged 65 years and above are not much exposed to
sun, one of the major source of vitamin D.
The
healthcare industry leads the global vitamins supplements market accounting for
more than one third of global market share. The vitamin supplements in
healthcare industry is estimated to account $17,950 million in 2014 and it is
expected to grow at 6.4% CAGR during 2014 to 2020. Increasing expenditure on
research and development conducted by healthcare industry is expected to
increase the overall healthcare cost globally. Due to the increasing cost of
healthcare, people are turning towards supplement products including vitamin
supplements, as it provides various health benefits, such as proper functioning
of immune system (vitamin C), strengthening to bone and joints (vitamin D), and
improving vision power (vitamin A).
Browse
More Reports on Consumer Products: https://www.psmarketresearch.com/industry-report/consumer-products
The vitamin supplements market is highly fragmented with large number of
multinational and regional players operating in the market, who distribute
their products locally as well as internationally. Some of the major
competitors in the global vitamin supplements market include Glanbia plc, NBTY,
Inc., Reckitt Benckiser Group plc, Archer Daniels Midland Company, E.I. du Pont
de Nemours and Company, Royal DSM N.V., BASF SE, Integrated BioPharma Inc,
Bayer AG, Pharmavite LLC, Nutraceutical International Corporation, Herbalife
Ltd.
No comments:
Post a Comment