The Business Research Company’s Vitamins And Mineral Supplement Market Global Report 2020-30: COVID 19 Implications And Growth
LONDON, GREATER LONDON, UK, July 27, 2020 /EINPresswire.com/ — The global vitamins and mineral supplements market size is expected to grow from $51.70 billion in 2019 to $61.16 billion in 2020 at a compound annual growth rate (CAGR) of 18.3%. The dietary supplement market, particularly the sale of vitamins and mineral supplements, is skyrocketing during the COVID-19 pandemic. Vitamins and mineral supplements are seen as a proportion of control and are used by people to build their immunity to keep themselves healthy. Vitamins and minerals positively affect the health and wellness of the population. The vitamins and mineral supplements market is then expected to stabilize and reach $74.61 billion in 2023 at a CAGR of 6.85%.
The growing use of dietary supplements in modern lifestyle is a key factor driving the vitamins and mineral supplement market growth. Nutrition plays an important role in maintaining immune system balance. Supplementation with micronutrients such as vitamins C and D, Zinc, and omega fatty acids within recommended upper safety limits is a safe, effective, and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibre foods, including cookies, bread and rolls, have been developed by the Indian Research Institute. For example, to improve children’s immunity, dietary supplement company Avida Health has launched a chocolate ball functional food in Singapore. A nutritional focus on the immune system could help minimize the impact of the current COVID-19 pandemic and other infections. Therefore, the implementation of dietary supplements in the lifestyle is expected to drive the growth of the vitamins and mineral supplement market.
The consumer preference moving towards organic supplements is a key trend in the vitamins and mineral supplement market. There was a suggested transition towards vegan & organic food in 2020, and this trend will shortly become a lifestyle for many people, as COVID-19 cases rise. As a lot of people globally believe that the COVID crisis is associated with the consumption of animal meat, people will become more cautious of the food they consume and this can result in a significant rise in the demand for organic and vegan food products. Many small and medium enterprises have started to promote plant-based goods and diets in the product space. The coronavirus pandemic is accelerating the trend for organic food supplements.
The vitamins and mineral supplements market is segmented by type into multivitamin, single vitamin, multi mineral, and single mineral. It is also segmented by application into energy & weight management, general health, bone & joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and others. By distribution channel, it is segmented into pharmacies & drug stores, supermarkets & hypermarkets, and online channels. By end-user, the market is segmented into adults, geriatric, pregnant women, children, and infants.
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Source: EIN Presswire