The vitamin and mineral supplement tablets market is estimated to be valued at US$ 15.46 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2028 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The vitamin and mineral supplement tablets market consists of dietary supplements that contain vitamins and minerals in tablet form. These tablets help provide essential micronutrients and promote overall health and wellness. They are commonly used by individuals to supplement their daily diets and meet the recommended dietary allowance of vitamins and minerals. The key product types include multivitamin tablets, vitamin B tablet, vitamin C tablet, calcium tablet, and others. These tablets are available over-the-counter and sold through various retail channels as well as online stores.

Market Dynamics:
The global vitamin and mineral supplement tablets market is anticipated to grow at a significant rate owing to rising health consciousness among consumers and growing preference for preventive healthcare. There has been an increasing focus on maintaining nutrition levels and balancing diets through supplements. This, coupled with busy lifestyles and changes in eating patterns have fuelled demand for convenient dietary supplements like tablets. Additionally, the COVID-19 pandemic has further highlighted the importance of good immunity and overall wellness, propelling sales of vitamin and mineral supplements in the past years. Furthermore, growing geriatric population, launch of innovative products with specific health benefits, and rising online retail are some of the major factors expected to drive the market growth over the forecast period.

SWOT Analysis
Strength: Vitamin and mineral supplement tablets offer a convenient way for people to meet their daily nutritional needs in a portable format. Tablet supplements are easy to carry and consume on the go. They also allow manufacturers to precisely formulate the dosage of various vitamins and minerals in each pill.

Weakness: Tablet supplements may have lower absorption rates than other supplement forms like gummies or liquids since the body has to break down and digest the pill first. There is also a risk that some consumers may take supplements as a replacement for a healthy balanced diet rather than as a complementary source of nutrients.

Opportunity: Rising health awareness is driving more people to proactively support their wellness with supplements. The growing elderly population also presents an opportunity as vitamin and mineral needs tend to increase with age. Online sales of supplements are gaining traction as well.

Threats: Strict regulations on supplement formulations, labeling and marketing exist in many countries to help prevent false claims and ensure safety. New regulations could increase compliance costs for companies. Intense competition within the supplement industry also puts pressure on pricing.

Key Takeaways

The global Vitamin And Mineral Supplement Tablets market is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing health consciousness among consumers. Studies show rising awareness about the importance of balanced nutrition for overall well-being is driving more people worldwide to consume supplements as part of a healthy lifestyle.

Regional analysis related content comprises

The North America region currently dominates the Vitamin And Mineral Supplement Tablets market, accounting for over 35% value share in 2023. This is attributed to growing health supplement adoption in the U.S. and Canada fueled by innovative product offerings and strong marketing by leading brands. Asia Pacific is projected to be the fastest growing regional market exhibiting a CAGR of around 6% during the forecast period due to rising living standards and disposable incomes in populous countries like China and India.

Key players related content comprises

Key players operating in the Vitamin And Mineral Supplement Tablets market are Otsuka Pharmaceutical Co., Ltd., NutraScience Labs, Glanbia plc, Herbalife Nutrition, Abbott, Amway, Bayer AG, GlaxoSmithKline plc, NSE, inc. Company, Bactolac Pharmaceutical, Inc., Nature's Way Products, LLC