Must-read For The Brand Owners In 2024: Analyzing The Vitamin Industry

September 26, 2023

Maybe you've noticed that the vitamin industry is growing quickly, and it's attracting the attention of more and more brand owners and consumers. When you look at the whole supplement market, you'll see that the selection of vitamin products has expanded into a huge world. A wide variety of vitamin product types and product combinations are all coming together. So, wanting to stand out in this competitive market is not an easy task.

As a supplement manufacturer in China, Reiheychem is dedicated to providing you with the latest industry insights and recommendations. We have delved into various aspects of the vitamin market, including the vitamin market situation, popular vitamin types, and product innovations. We've put together this blog by analyzing data from leading industry research firms, and consumer survey reports, and reviewing the latest industry studies.

1. Analysis of the Vitamins Market

1.1 Market size of vitamins

Whether it's the antioxidant power of vitamin C or the bone support provided by vitamin D, people all are increasingly recognizing the importance of vitamins for maintaining health. According to a report by Globe Newswire on December 23, 2022, the global vitamin supplements market size in 2022 was $52.85 billion. It is expected to reach $104 billion by 2030. And,  North America has the largest market share at 33%. That's why now is the best time for supplement brands to expand their product ranges and include vitamin supplements.

TimeSize(USD Billion)

1.2 Structure of the Vitamins Market

The market structure for vitamins is also showing variety and complexity due to the growing health concerns and consumers' various demands for the products. We will learn more about the characteristics of the vitamin market from the following two aspects:

1.  Segmentation of the vitamin market

According to data from the UK-based data analytics company Avenue shows, consumer interest in plant-based products and vegetarian lifestyles has seen a significant surge in recent years. This has resulted in plant-based vitamin revenue accounted for over 30% of the market share in 2021. Numbers like these have gotten the attention of manufacturers who will be catering to consumers' preference for this plant-based vitamin. Based on our experience in the supplement industry and analysis of industry reports, we expect the segment to continue to dominate the market during the forecast period.

Looking at the application areas, the dominant market is in the field of immune health. The reason for this is that after the pandemic situation, consumers have become more health conscious and the demand for immune-enhancing supplements has increased. Vitamins happen to offer maintaining health benefits and immune-enhancing properties that align with this consumer need. And, according to the improvement of people's living standards and the pursuit of good health nowadays, this growth trend is expected to continue in the coming years.

2. Distribution channels

The structure of the market is not only influenced by the type of vitamins and application areas but also shaped by the distribution channels. In this area, we can see two major distribution channels coming to the fore:

● Online Retail

Online retail is a popular distribution channel in North America. It promotes the sale of dietary supplements through mobile and user-friendly websites, email marketing, and e-commerce site sales. Compared to in-store shopping, younger people prefer shopping online. The emerging private label supplement brands may have advantages by opting for online retailing as it is cost-effective.

● Offline Distribution

According to a market study on vitamins by the American business consulting company Grand View Research, it was found that offline niche markets dominated in 2020. Supplements in supermarkets and large stores not only offer products at discounted prices but also provide consumers with a convenient shopping experience. Sales of supplements through offline distribution channels are expected to steadily increase due to consumers receiving personalized attention from store staff. And, the introduction of private-label brands by retail channel participants will further boost demand in the supplement market.

1.3 Key Driving Factors

The vitamin market boom is not just the result of chance, it is being driven by a number of driver factors. We will present two main driver factors based on our market research:

1.  Technological advancements and increasing consumer spending shape market growth

In recent years, the growing elderly population worldwide, along with an increase in children, has led to higher consumer spending on dietary supplements. A number of food safety standards and government regulations aimed at solving the problem of overproduction of vitamins and supplements are being updated to make the market more competitive. And, the rising consumer focus on preventive health products has improved the efficiency of production and marketing efforts. Manufacturers are more and more adopting the latest technologies with high production efficiencies for these products in the market. Enhanced consumer acceptance and product innovation will further ensure the growth of the vitamin and supplement market in the coming years.

2.  The Internet and Customized Health Focus Drive Dietary Supplement Market Growth

With the growing dependence on the Internet and the ever-changing health supplement industry, consumers are becoming more and more focused on seeking out customized, personalized medication and care solutions. The Internet has become a key shopping medium, it helping to reduce barriers to accessing supplements in the market. Manufacturers are focusing on offering vitamins, minerals, and supplements through online channels to provide a simple shopping experience. According to a report published by World Food India, dietary supplement products hold more than 25% share in the global nutraceuticals market and are expected to push the vitamin and dietary supplements (VDS) market growth over the upcoming years.

2.  Consumer Demand Trends of Vitamins

Have you noticed an interesting thing, that people around you are starting to pay extra attention to their health? They are no longer passively relying on medical advice but are becoming more independent, seeking personalized health solutions. In fact, this trend is closely linked to the way we live in modern times. Next, let's take a deeper look at consumers' heartfelt wishes and what they are trending and wanting in the vitamin market.

2.1 Increased Health Awareness

Since COVID-19, there has been a growing consumer interest in immunity. This awareness is a key driver for the vitamin supplements market. According to a report by Karen Formanski, an analyst in the area of health and nutrition, 58% of Americans listed immune system support as the reason they take vitamin supplements in 2022. 

This increased health awareness is driving the growth of the vitamin market, with consumers focusing more on the quality and benefits of products. And, consumers want to be able to choose vitamins based on their health situation and goals, rather than adopting a "one-size-fits-all" methodology. Already, supplement brands are keenly aware of this changing trend. As a result, more customized and personalized vitamin options are appearing on the market.

2.2 Growth in Demand for Supplements

With the aging population, improved healthcare facilities, and an increase in the number of insured individuals, spending on healthcare supplements in the United States has continued to rise. According to a report by Mordor Intelligence, an Indian data firm, supplement usage in the U.S. has grown clearly over the past decade. Several studies have shown that by 2022, 75% of U.S. adults have consumed supplements. Among them, the coming age group of 60 and above is the fastest growing section in the vitamin market. The growth in demand for vitamins among the elderly population is due to their own bone loss problems and they need to take vitamins to meet their nutritional needs. As the elderly population is ever increasing, the market segment will continue to grow. As a supplement brand, it is key to pay close attention to this target group as this area may provide an opportunity for you to break through in the competitive vitamin market.

3. The most popular types of vitamins

After analyzing the vitamin market, we already know how big the "cake" is. Due to the growth of this market and the variety of consumer needs, the vitamin market is full of a wide range of products. In a market full of choices, which vitamins are the most popular among consumers? conducted a survey of nearly 9,800 individuals who regularly use supplements to assess the popularity of 169 different supplements. They also analyzed the popularity based on the respondents' age, gender, and frequency of supplement use. Here are the top 5 most popular vitamin supplements among the respondents:

3.1 Vitamin D

Although vitamin D has fallen a little in the rankings since last year (down 0.4 percentage points), it is still the most popular supplement. Two thirds (66%) of respondents to the survey indicated that they still purchase vitamin D.

Why is vitamin D so widely used? Why is vitamin D so widely used? That's because vitamin D can improve a range of diseases and conditions, including poor bone health, type 1 diabetes, metabolic syndrome, hypertension, pulmonary tuberculosis, breast cancer, non-alcoholic fatty liver disease, and more1.

3.2 Multivitamin

Multivitamins typically contain a combination of various essential vitamins and minerals in a single supplement, aiming to fill potential nutritional gaps in one's diet. These supplements are popular because they offer convenience and the assurance of getting a balanced array of nutrients, especially for those with busy lifestyles or dietary restrictions.

About 42 percent of the 9,800 medium respondents said they were taking a multivitamin. While this percentage seems respectable, it is down 1.3 percentage points from last year. The reason for this is that in recent years, studies have shown that the benefits of multivitamins are not obvious, and may not even actually be obvious2.

3.3 Vitamin C

Vitamin C has been highly regarded in the vitamin market. It is widely recognized as a powerful antioxidant and plays an important role in immune function. According to the survey, 34.5% of people said they are using vitamin C, albeit down 1% compared to 2019. And, researchers have been investigating whether vitamin C can reduce the risk of cancer, cardiovascular diseases, age-related macular degeneration, cataracts, and the common cold. But, the research results have not been entirely consistent, with both positive and negative findings3.

3.4 Vitamin B12

Vitamin B12, which plays a key role in several physiological functions, including red blood cell formation, nerve function, and DNA synthesis. Surprisingly, according to the Office of Dietary Supplements, vitamin B12 deficiency is quite common, up to 15 percent of Americans are deficient in this vitamin.

In the survey, it was found that 30.3% of respondents purchased vitamin B12 supplements, marking a 2.2% increase compared to 2019. This indicates the growing popularity of vitamin B12 in the vitamin market, possibly because more people are recognizing its key role in maintaining health and preventing vitamin B12 deficiency.

3.5 Vitamin K

Vitamin K, I believe that people who have read my previous article "2023 Year Trends: 5 Supplements You Should Know" are definitely familiar with. In this article, we introduced the potential and benefits of vitamin K. Similarly, in the survey, 25.9% of respondents clearly understand the role of this product and are currently using vitamin K supplements. This indicates that more and more people are becoming aware of the benefits of vitamin K and are incorporating it into their daily health.

4. Innovation of vitamin products

4.1 Innovation in Product Form

You may think you have the best vitamin product on the market, but if it doesn't taste good and is hard to swallow, it still won't be appealing to your consumers. Common forms of vitamins on the market are gummies, capsules, chewable tablets, or liquid forms. They may have a pleasant flavor or the advantage of being easy to swallow. But, competition for these common forms of vitamins is also high. Various supplement brand owners have realized this and they have started to innovate in the form of their vitamin products:

1.  Oral Spray

Supporters of vitamin oral sprays say that this form allows nutrients to be absorbed faster. Integrative Medicine expert Tiffany Lester M.D. agrees with this theory. This is because the absorption of nutrients under the tongue is much higher than in capsules, and it also performs better in terms of bioavailability.This innovative form of vitamin product also has the advantage of being portable and easy to use. Consumers can carry vitamins with them without the need for water and can supplement anytime, anywhere. Plus, they find it more enjoyable to take. This provides another option for people who have difficulty swallowing capsules or tablets, such as the elderly or children.

2.  Liposomal Formulations

Liposomal formulations are a way to absorb vitamins in the mouth, avoiding nutrient breakdown caused by stomach acid. Additionally, they can prevent potential gastrointestinal discomfort because liposomal formulations never pass through the digestive tract. This is one of the most ideal ways to get your daily vitamins because they are rapidly absorbed with almost no discomfort.

Similar to liquid supplements, liposomal formulations are perfect for those who have difficulty swallowing pills, including children, and the dosage is easy to adjust. On the other hand, the fats in liposomal formulations are essential for protecting the nutrients from damage. They may also enable your body to absorb more of the formulation. That's why liposomal formulations are so popular compared to other delivery methods.

3.  Sublingual Supplements

Sublingual supplements, an intriguing innovation, offer significant absorption advantages.  A study comparing sublingual intake of vitamin B12 to intramuscular injections found that sublingual vitamin B12 had better results4. For elderly individuals who might have difficulty swallowing pills or capsules, sublingual supplements are an ideal choice.

Interestingly, the FDA does not classify sublingual supplements as dietary supplements because they are absorbed through the sublingual mucosa rather than being ingested orally.

4.2 Innovation in Product Combinations

In the vitamin market, product innovation is not only seen in the form but also in the product combination. More and more brands are realizing the consumer demand for multifunctional, multivitamin, and mineral mix products. As a result, innovative brands have begun to launch multivitamin supplements that incorporate multiple vitamins, minerals, and other nutrients to meet consumers' needs for overall health. We will present here a few of the most established and important product combinations:

1.  Vitamin D and Calcium

If your supplement product is aimed at the bone health sector, consider incorporating the combination of vitamin D and calcium into your product. There exists a nutritional synergy between calcium and vitamin D, both of which play vital roles in musculoskeletal health. This combination is an ideal choice for maintaining bone health, particularly favored by older individuals and those concerned about bone density.

2.  Magnesium and Vitamin D

One of Vitamin D's favorite companions is the essential mineral magnesium. Magnesium is involved in over 600 biochemical reactions in the human body and plays a crucial role in musculoskeletal, cardiovascular, and nervous system health. Unfortunately, about two-thirds of Americans lack this important mineral. As a supplement brand, you can introduce this innovative combination to address this widespread mineral deficiency. Research indicates that supplementing with Vitamin D can raise magnesium levels in the blood, and supplementing with magnesium can increase Vitamin D levels.

3.  Vitamin C and Iron

The benefit of Vitamin C is its natural ability to enhance the absorption of iron, especially plant-based iron sources. Therefore, combining supplements rich in iron with Vitamin C supplements is particularly important for individuals at risk of iron deficiency, such as infants, pregnant women, and children.

In conclusion, innovative product combinations have become a significant trend in the vitamin market. This innovation not only promotes diversity in the market but also provides consumers with more comprehensive and personalized options for vitamin products.

You might also like:

2024 Year Trends: 5 Supplements You Should Know

Tablets vs. Capsules: Which One is Right for Your Supplement Brand?

Expanding Your Business: A Guide to Choosing the Right Mushroom Extract Product Line

Importing Mushroom Extracts from China: A Comprehensive Guide (August 2023 Update)

Get the latest prices

Since launching in April of 2014, Reiheychem now manages additive supplier work for more than 120+ clients in 30+ countries. We'd love for you to join!
NO.999, qianshan Road, Hefei City,Anhui Province,China
(+86) 15249926606
Inquiry form