The global vitamin tonics market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the high prevalence of diseases related to vitamin deficiency.
Vitamins are critical ingredients that stimulate the immune system of a body, which causes both adaptive immune and innate responses functions. They are the essential components for the development of body along with proper functioning of the body. There are various categories of vitamins that are vital for different functions. They are vitamin A, B, D, C, E, K, and Choline. The B vitamins are riboflavin, thiamin, pantothenic acid, niacin, biotin, vitamin B12, vitamin B6, and folic acid. Vitamin tonics are used for the treatment of various deficiency as well as prevention of deficiency. Some of the most common diseases that are associated with the vitamin deficiency are osteomalacia, rickets, anemia, and angular stomatitis. The treatment of these deficiencies are offered in the form of liquids, syrup semisolid, tablets, pills, capsules, and multivitamin injections. Vitamin tonics are highly utilized by customers due to its acceptance among children and higher patient compliance. These are available over the counter without the prescription of the doctor. In general, physicians recommend vitamin tonics in case of vitamin deficiency.
The demand for these products are increasing due to the lack to access to healthy foods or supplements of a large number of the population around the world. Most of the people use vitamins to compensate for the lack of intake of the proper nutritional diet as well as less physical activities by taking daily dose of vitamin tonics. Hence, the world market for the vitamin tonics is propelling to grow at a considerable rate. The COVID-19 pandemic outbreak has boosted the market as the demand for vitamin supplements witnessed tremendous spike in the COVID-19 outbreak as the use of vitamin is considered to be helping in strengthening immune system that results in the prevention of COVID-19 as well as aids in the treatment. Several research studies suggested that the use of vitamins helps the COVID-19 patients to fight the virus.
Market Trends, Drivers, Restraints, and Opportunities
- Rising awareness in the population regarding the use and benefits of vitamin tonics drugs are expected to push the market growth during the projected period.
- Several government initiatives encouraging the use of supplements for the treatment of vitamin deficient child and poor population is proved to be a key driver of the market growth.
- Easy availability and ease of use of vitamin products including drugs is a major factor boosting the market expansion.
- Rising demand for vitamin supplements among growing geriatric population is also a key factor that can drive the market expansion.
- High prevalence of vitamin deficiency cases around the world as well as high awareness of the people regarding the use of vitamin tonics are likely to offer huge opportunities for market expansion during the forecast period.
Key Players
- Seven Seas
- Sapiens Pharmaceuticals Ltd.
- Amway; Vitabiotics Ltd.
- Abbott Laboratories
- Albert David Ltd.
- Vitane Pharmaceuticals Inc.
- Cerebos Ltd
- Fitzroy International Ltd.
- Lloyds Pharmacy
- Tonic Vitamins
- Scotch Industrial Thailand Co. Ltd
- New GPC Inc.
- Raptakos Brett Co. Ltd.
Competitive Landscape
The key players competing in the global vitamin tonics market include Seven Seas; Sapiens Pharmaceuticals Ltd.; Amway; Vitabiotics Ltd.; Abbott Laboratories; Albert David Ltd.; Vitane Pharmaceuticals Inc.; Cerebos Ltd; Fitzroy International Ltd.; Lloyds Pharmacy; Tonic Vitamins; Scotch Industrial Thailand Co. Ltd; New GPC Inc.; and Raptakos Brett Co. Ltd.
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