The Asia Pacific Vitamin Supplements Market would witness market growth of 10.0% CAGR during the forecast period (2021-2027).
The demand for vitamin supplements is constantly increasing due to the surge in awareness among individuals about the gravity of digestive diseases, and growing attention to health & prevention. In addition, the demand for vitamin supplements would be fuelled by shifting lifestyle patterns and dietary habits. Moreover, the market growth is further augmented by the significant surge in healthcare costs and preference for alternatives to treat some diseases.
Moreover, consumers were looking for products that can boost their natural defense systems and the immunity level during the COVID-19 pandemic. Further, manufacturers of vitamin supplements are anticipated to witness lucrative opportunities due to the new findings and developments of function-specific antioxidants for immunity-boosting products.
As the region was hit hard by the global pandemic, the demand for products that could boost the immune system of the body increased rapidly, thereby propelling the demand for vitamin supplements in the regional market. Consumers prefer to purchase vitamin supplements from hypermarkets/supermarkets due to high convenience, ease of comparing price and other specifications directly.
In addition, the region is witnessing the opening of many hypermarkets/supermarkets across different countries, which would further boost the demand and growth of vitamin supplements in the regional market. Additionally, the rise in disposable income of the consumers in developing countries like China, India, and Japan would fuel the growth of the regional vitamin supplements market in the upcoming years.
The China market dominated the Asia Pacific Vitamin Supplements Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5.51 billion by 2027. The Japan market is anticipated to grow at a CAGR of 9.4% during (2021 - 2027). Additionally, The India market would experience a CAGR of 10.7% during (2021 - 2027).
Based on the Form, the Vitamin Supplements market is segmented into Tablets, Capsules, Gummies, Softgels, Powder, and Others. Based on the Distribution Channel, the Vitamin Supplements market is divided into Offline and Online. Based on the Type, the Vitamin Supplements market is segregated into Multivitamin, Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vitamin Supplements Market is Projected to reach USD 74.27 billion by 2027, at a CAGR of 8.0%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Alticor Inc. (Amway Corporation), NOW Foods, Inc., Glanbia PLC, GlaxoSmithKline PLC (GSK), Pfizer, Inc., Bayer AG, Good Health New Zealand, Herbalife International, Inc., and The Bountiful Company (Nestlé SA).
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