The global multivitamin and mineral supplements market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181016005484/en/
Technavio has published a new market research report on the global multivitamin and mineral supplements market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing adoption of multivitamin and mineral supplements by the growing aging population. It is estimated by 2030, nearly 17% of the global population will be above the age of 60 years. The aging population is becoming increasingly health-conscious about degenerative functioning and related conditions such as Alzheimer’s and Parkinson’s. Therefore, to prevent the effect of such conditions, baby boomers are engaging in physical activities, such as travelling, along with consuming multivitamin and mineral supplements. Aging also results in a reduced intake of food, which results in nutrient gaps which can be supplement with vitamins. Moreover, the demand for multivitamin and mineral supplements will also be driven by the high spending power of baby boomers.
This market research report on the global multivitamin and mineral supplements market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the growing popularity of private-label brands as one of the key emerging trends in the global multivitamin and mineral supplements market:
Global multivitamin and mineral supplements market: Growing popularity of private-label brands
Private-label products are priced lesser than the mainstream brands, which makes them a popular option among budget-conscious consumers. Supermarket chains, such as Walmart and Costco, have come up with their own private-label brands of multivitamin and mineral supplements to cash in on the increasing demand for private-label products. Supermarket chains are allocating more shelf space for their private-label offerings and are also carrying out in-store promotions and campaigns to increase the popularity of these products. Players are also positioning their private labels offerings as lifestyle brands to distinguish their products from those of their competitors. Thus, the increasing private-label brands in the market will help the growth of the market during the forecast period.
“Apart from increasing popularity of private labels, other major factors such as the increasing adoption of preventive measures for lifestyle-related diseases, and emergence of customized multivitamin and mineral supplement offerings, will boost the growth of the overall global market, during the forecast period,” says a senior analyst at Technavio.
Global multivitamin and mineral supplements market: Segmentation analysis
This market research report segments the global multivitamin and mineral supplements market by application (eye health supplements, bone and joint supplements, heart health supplements, other supplements) and geographical regions (APAC, EMEA, and the Americas).
The eye health supplements segments led the market in 2017 with a market share of over 25%, followed by bone and joint supplements and heart health supplements segment respectively. However, during the forecast period, the heart health supplements segment is expected to register the highest incremental growth.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181016005484/en/
Contacts:
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
