The Latest Vitamins Industry Statistics Explained
The global vitamins market size was valued at USD 5.18 billion in 2019.
The statistic states that the global vitamins market had a total value of USD 5.18 billion in the year 2019. This figure represents the total revenue generated by the sales of vitamins worldwide during that specific year. It indicates the economic significance of the vitamins industry on a global scale, highlighting the demand for vitamin products across various regions and populations. The market size of USD 5.18 billion serves as a key metric for understanding the size and growth potential of the vitamins industry, providing valuable insights for businesses, investors, and policymakers in this sector.
The vitamins industry is expected to exhibit a CAGR of 6.6% during the forecast period from 2020 to 2027.
The statistic that the vitamins industry is expected to exhibit a CAGR (Compound Annual Growth Rate) of 6.6% during the forecast period from 2020 to 2027 indicates the average annual growth rate of the industry over the specified time frame. A CAGR of 6.6% suggests that the industry is anticipated to grow steadily at a consistent rate over the seven-year period. This growth rate can be attributed to factors such as increasing consumer awareness about health and wellness, rising demand for dietary supplements, and advancements in product innovation and marketing strategies within the industry. The CAGR statistic serves as a valuable metric for investors, analysts, and stakeholders to assess the overall performance and potential growth prospects of the vitamins industry.
Vitamin B accounted for the highest revenue share of over 55% in 2019.
The statistic “Vitamin B accounted for the highest revenue share of over 55% in 2019” indicates that out of all the revenue generated from the sales of vitamins in 2019, Vitamin B products contributed the largest portion, amounting to more than 55% of the total revenue. This suggests that Vitamin B products were the most popular or in-demand among consumers compared to other types of vitamins during that year. The high revenue share of Vitamin B products highlights their importance in the market and emphasizes the significant role they played in driving overall sales and profits within the vitamin industry in 2019.
Europe held the largest market share for vitamins in 2019, accounting for more than 30% of the global market.
The statistic ‘Europe held the largest market share for vitamins in 2019, accounting for more than 30% of the global market’ indicates that Europe had the highest proportion of vitamin sales compared to other regions around the world in 2019. This means that out of all vitamins sold globally, more than one-third were purchased within the European market. This is a significant finding as it shows the dominance of the European market in the vitamin industry, highlighting the region’s importance and influence in this sector. Understanding market share is crucial for businesses to strategize and target their marketing efforts effectively in order to capitalize on the largest market segments.
The vitamins market in Asia Pacific is projected to witness the fastest growth over the forecast period due to rising healthcare expenditure.
The statistic indicates that the vitamins market in the Asia Pacific region is expected to experience rapid growth in the near future, primarily driven by an increase in healthcare spending in the region. As people in Asia Pacific become more conscious of their health and are willing to invest in preventive measures, there is a growing demand for vitamins and dietary supplements to maintain overall well-being. This trend is likely to result in substantial market expansion for vitamin products in the Asia Pacific region compared to other regions, making it an attractive market for businesses operating in the vitamins industry.
The global dietary supplements market, which includes vitamins, was valued at $123.28 billion in 2019.
The statistic indicates that the global dietary supplements market, encompassing vitamins among other products, had a total value of $123.28 billion in the year 2019. This figure represents the total revenue generated by the sale of dietary supplements worldwide during that year. The market for dietary supplements, including vitamins, is substantial and continues to grow as consumers increasingly prioritize health and wellness. The value of the market provides insight into the sizable demand for these products and the significant economic impact they have on the global healthcare industry.
Projections indicate the global dietary supplements market will reach $194.63 billion by 2025.
The statistic “Projections indicate the global dietary supplements market will reach $194.63 billion by 2025” suggests that the market for dietary supplements is expected to grow significantly by the year 2025. This projection implies that there is a strong demand for dietary supplements worldwide, likely driven by factors such as increasing health awareness, aging populations, and a growing focus on preventive healthcare. This growth forecast also indicates potential opportunities for businesses operating within the dietary supplements industry to expand their market share and capitalize on the increasing consumer interest in health and wellness products. Overall, the statistic highlights the expected market size and growth potential in the global dietary supplements industry over the coming years.
In 2018, multivitamins accounted for a market share of approximately 27% in the dietary supplements market.
This statistic from 2018 indicates that multivitamins held a significant portion of the market within the dietary supplements industry, accounting for approximately 27% of the total market share. This suggests that multivitamins were a popular choice among consumers seeking to supplement their diets with additional nutrients during that time period. The high market share reflects the perceived value and demand for multivitamins among individuals looking to improve or maintain their overall health and wellness. The data highlights the competitive landscape within the dietary supplements market and the prevalence of multivitamins as a preferred choice for many consumers in 2018.
The segment of personalized vitamins is expected to grow at a rapid rate during 2020-2025.
The statistic indicates that the market segment for personalized vitamins is projected to experience significant growth between the years 2020 and 2025. This growth is anticipated to be rapid, suggesting an increasing demand and adoption of personalized vitamins during this time period. Factors such as changing consumer preferences towards personalized health solutions, advancements in technology enabling personalized nutrition, and increasing awareness about the benefits of tailored vitamin regimens may contribute to this anticipated growth. Businesses operating in the personalized vitamins sector are likely to benefit from this trend, and it highlights the potential opportunities for innovation and expansion within the industry.
North America accounts for the largest share (38%) in the global dietary supplements market in 2018.
The statistic indicates that North America held the highest proportion of market share, representing 38% of the global dietary supplements market in 2018. This implies that a significant portion of the total sales and consumption of dietary supplements worldwide occurred in North America during that year. This suggests that the region has a relatively high demand for dietary supplements, which could be driven by factors such as health consciousness, lifestyle trends, regulatory environment, and accessibility to a wide variety of products. The data highlights North America’s prominent position as a major player in the global dietary supplements industry and underscores the region’s importance in shaping market trends and dynamics in this sector.
China’s vitamins market is expected to grow at a CAGR of around 5% from 2021 to 2026.
This statistic indicates that China’s market for vitamins is projected to experience a Compound Annual Growth Rate (CAGR) of approximately 5% between the years 2021 and 2026. This forecast suggests a steady and gradual expansion in the demand for and consumption of vitamins in China over the specified five-year period. A CAGR of 5% implies that the market size for vitamins in China is expected to increase by an average of 5% annually during this timeframe. Factors driving this growth may include rising awareness of health and wellness, increasing disposable income, a growing elderly population, and a greater emphasis on preventive healthcare practices. Organisations operating in the vitamins industry may use this information to make strategic decisions regarding investments, product development, marketing initiatives, and expansion opportunities in the Chinese market.
Online vitamin sales in the United States exceeded $18 billion in 2020.
The statistic stating that online vitamin sales in the United States exceeded $18 billion in 2020 indicates a significant and growing market for vitamins purchased through digital platforms. This figure highlights the increasing trend of consumers turning to online retailers to purchase health and wellness products, including vitamins and supplements. The large sales volume reflects a shift in consumer behavior towards convenient and accessible shopping methods, especially amplified during the COVID-19 pandemic when traditional in-person shopping experiences were restricted. The substantial revenue generated from online vitamin sales underscores the importance of e-commerce channels in the retail landscape and suggests a strong demand for health-related products in the U.S. market.
The U.S. vitamins and supplements market is expected to grow by almost $6 billion from 2021-2025.
The statistic stating that the U.S. vitamins and supplements market is projected to grow by nearly $6 billion from 2021 to 2025 implies a substantial increase in market size and demand for these products over the next few years. This growth indicates a positive trend in consumer interest and spending on vitamins and supplements, likely driven by factors such as increasing health awareness, aging populations, and a focus on preventive healthcare. The industry’s expansion may also be influenced by evolving dietary preferences, lifestyle choices, and the rising popularity of natural and alternative health remedies. Overall, this statistic suggests a promising outlook for the vitamins and supplements market in the U.S., with significant opportunities for businesses operating in this sector to capitalize on a growing market demand.
US internet users are twice as likely to buy vitamins and supplements online in 2020 than in 2019.
This statistic indicates that the likelihood of US internet users purchasing vitamins and supplements online has doubled from 2019 to 2020. This implies a significant increase in the online purchasing behavior of US consumers in the health and wellness product category within just a one-year timeframe. Factors such as the global pandemic and resulting lockdowns may have played a role in this shift towards online shopping for health-related products, as consumers sought convenient and safe ways to access essential items. This trend suggests a growing preference for e-commerce platforms among US consumers for purchasing vitamins and supplements, highlighting the increasing importance of online retail channels in the health and wellness industry.
Among the different age groups, adults contribute to roughly 50% of the total vitamins and dietary supplements market.
The statistic indicates that adults make up approximately half of the total market for vitamins and dietary supplements across various age groups. This suggests that adults are a significant consumer group within this market, emphasizing their importance in driving sales and consumption of these products. The data implies that adults are actively seeking and utilizing vitamins and dietary supplements to maintain or enhance their health and well-being. This insight can be valuable for businesses in the health and wellness industry to tailor their marketing strategies and product offerings to cater to the specific needs and preferences of adult consumers.
By 2021, it is estimated that the vitamin and supplement market in Asia will reach $20 billion.
The statistic suggests that by the year 2021, the market for vitamins and supplements in Asia is projected to grow significantly, reaching a total value of $20 billion. This indicates a strong and growing demand for health-related products in the region, potentially driven by factors such as increasing awareness of health and wellness, a growing middle class with greater disposable income, and an aging population seeking preventive healthcare solutions. The projected growth of this market highlights both the increasing importance individuals are placing on supplementing their diets and healthcare routines with vitamins, minerals, and other health products, as well as the lucrative business opportunities available for companies operating in this sector.
Over 60% of the American adults reported dietary supplement usage in 2019.
The statistic “Over 60% of American adults reported dietary supplement usage in 2019” indicates that a large majority of adults in the United States were using dietary supplements during that year. This suggests a widespread trend towards supplementing one’s diet with additional vitamins, minerals, or other substances. The high percentage also highlights the importance that many Americans place on maintaining their health and well-being through the use of supplements. This information could have implications for industries related to dietary supplements, as well as public health policies and education initiatives aimed at promoting a balanced and healthy diet.
Conclusion
The statistics presented in this blog post shed light on the significant growth and trends within the vitamins industry. From increasing global demand to the rise of e-commerce sales, the industry is evolving rapidly. As consumers continue to prioritize health and wellness, the vitamins market is poised for continued expansion in the coming years.
References
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