Vitamins Market History

Over the last ten to fifteen years, sales in the global nutrition and supplements market have seen an unprecedented spike. This has encouraged a number of new players to step into the market with products that promise to be the elixir of youth, health, and vitality. According to the estimates of the Nutrition Business Journal report, the global nutrition and supplements market stood at US $96 billion as of 2012. A year later, it was approximately US $104 billion globally.

Going forward, the market is expected to show a CAGR between 6% and 7%. This rate of growth will be similar to that of developed market such as the United States whereas developing markets such as Asia-Pacific will exhibit an uptick in growth rates.

The global dietary supplements market will be driven by Asia Pacific to 2020, with encouraging growth in Latin America.

The vitamins supplement market will expand globally thanks to a larger geriatric population, preventative healthcare, and rising disposable incomes.

Weight Management Products to Exhibit Aggressive Growth:

Product categories within the global nutrition and supplements market are prone to much volatility on account of ever-changing health fads. Functional foods constituted over 30% of the global nutrition and supplements market in 2012. Natural and organic foods were yet another predominant category within the global nutrition and supplement market.

However, a shift in this trend is now palpable. The segment of preventative/proactive nutrition and supplement products is expected to show promising expansion. Weight management products are expected to bring about the next wave of profitability in the global nutrition and supplement market.

At the same time, comsumets in developed countries such as the United States, Japan, and United Kingdom are aging. Manufacturers are actively introducing products to cater to this age group as many of these consumers are also at a stage where they face a higher likelihood of being diagnosed with chronic diseases.

The clinical nutrition and supplements market, which comprises nutrigenomics and medical foods, will have to contend with a number of regulatory hurdles and increasingly stringent regulations even in those markets that were earlier known for being ‘flexible’.