Us Multivitamin Mineral Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Multivitamin Mineral Market was valued at USD 41.2 Billion in 2022 and is projected to reach USD 66.9 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The U.S. multivitamin and mineral market has experienced significant growth, driven by increasing health consciousness and a focus on preventive care. In 2022, the global market was valued at approximately $41.2 billion, with projections to reach $66.9 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.8%.
Multivitamin and mineral supplements are particularly popular among older adults. Data from the National Health and Nutrition Examination Survey (NHANES) indicates that 39.4% of U.S. adults aged 60 and over reported using these supplements in the past 30 days. This trend is influenced by the aging population's desire to address nutritional deficiencies and maintain overall health.
Despite their popularity, the efficacy of multivitamin and mineral supplements remains a topic of debate. Some studies suggest that these supplements do not significantly reduce the risk of chronic diseases such as heart disease or cancer. For instance, research published in the Annals of Internal Medicine concluded that most supplements do not prevent chronic disease or death, and their use is not justified.
However, multivitamin and mineral supplements can be beneficial for specific groups. Individuals with dietary imbalances, pregnant women, and those with certain medical conditions may require additional nutrients that are not sufficiently obtained through diet alone. In such cases, healthcare professionals may recommend targeted supplementation to address specific deficiencies.
Consumer preferences are also shaping the market. There is a growing demand for products that cater to specific health needs, such as immune support, cognitive function, and energy enhancement. Additionally, the trend towards plant-based and natural ingredients has led manufacturers to develop formulations that align with these consumer values.
It's important to approach multivitamin and mineral supplementation with caution. Excessive intake of certain vitamins and minerals can lead to adverse effects. For example, high doses of vitamin A, iron, and zinc have been associated with negative health outcomes. Therefore, it's advisable to consult with a healthcare provider to determine individual nutritional needs before starting any supplement regimen.
In summary, while the U.S. multivitamin and mineral market continues to grow, it's essential for consumers to make informed decisions based on their unique health profiles and in consultation with healthcare professionals. This approach ensures that supplementation is both safe and effective, tailored to individual needs rather than a one-size-fits-all solution.
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GSK
Swisse Wellness PTY LTD
Amway Corporation
BASF
Abbott
Cenovis
Blackmores
DSM
Nature's Way
Pharmavite LLC
Salus Haus
Sanofi S.A.
Innopharma sro
Greatlife
Metagenics
Hainan Yangshengtang
MINSHENG HEALTHCARE
BYHEALTH Co.
Ltd
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Multivitamin Mineral Market
Age Group
Gender
Income Level
General Health
Specific Health Needs
Dietary Restrictions
Source of Ingredients
Type of Multivitamin
Specialty Forms
Buying Frequency
Buying Channel
Brand Loyalty
Lifestyle
Values and Beliefs
Motivations for Use
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Multivitamin Mineral Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Multivitamin Mineral Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Multivitamin Mineral Market, By Type
6. Global Multivitamin Mineral Market, By Application
7. Global Multivitamin Mineral Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Multivitamin Mineral Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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