OTC Multivitamins And Minerals Supplements Market Report 2024 (Global Edition)

Global OTC Multivitamins And Minerals Supplements Market Report 2024 Market Size Split by Type (Powder, Tablets, Capsules, Softgels, Liquid, Others), by End User (Adults, Geriatric, Pregnant Women, Ch...

OTC Multivitamins And Minerals Supplements Market Report Description

We have various report editions of OTC Multivitamins And Minerals Supplements Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

OTC Multivitamins And Minerals Supplements Market Insights Video

Competitive Landscape of the OTC Multivitamins And Minerals Supplements Market

The OTC multivitamins and minerals supplements market is highly competitive, featuring key players like Pfizer, Bayer, and Abbott. Companies focus on innovation, product differentiation, and strategic acquisitions to gain market share. Online sales channels and rising health awareness further intensify competition, driving continuous market evolution and expansion.

April 2023: Abbott Finalizes Acquisition Of Cardiovascular Systems, Inc. (Source: https://abbott.mediaroom.com/2023-04-27-Abbott-Completes-Acquisition-of-Cardiovascular-Systems,-Inc ) October 2023: Bayer invests $250 million in a new cell therapy manufacturing facility in the U.S. (Source: https://www.bayer.com/media/en-us/bayer-invests-250-million-usd-in-new-cell-therapy-manufacturing-facility-in-the-us/ )

Top Companies Market Share in OTC Multivitamins And Minerals Supplements Industry: (In no particular order of Rank)

• Pfizer Inc. (United States)
• Bayer AG (Germany)
• Haleon (United Kingdom)
• Abbott Laboratories (United States)
• Amway Corp. (United States)
• Sanofi (France)
• Nature's Bounty (United States)
• Himalaya Wellness (India)
• Blackmores Limited (Australia)
• Nestlé Health Science (Switzerland)
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the OTC Multivitamins And Minerals Supplements Market

Which Region Dominates the OTC Multivitamins And Minerals Supplements Market in 2024?

According to Cognitive Market Research, North America leads the OTC multivitamins and minerals supplements market due to its well-established healthcare infrastructure, high consumer awareness, and mature market base. The region boasts extensive retail distribution networks and advanced e-commerce platforms, facilitating easy access to a wide range of supplement products.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific stands out as the fastest-growing region in this market. Factors such as increasing disposable income levels, urbanization, and a growing focus on preventive healthcare are driving the demand for multivitamins and minerals supplements across countries like China, India, and Southeast Asian nations. The region's large population base, particularly the aging demographic, contributes significantly to the market's rapid expansion.

 

The current report Scope analyzes OTC Multivitamins And Minerals Supplements Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America OTC Multivitamins And Minerals Supplements Market

According to Cognitive Market Research, the global OTC Multivitamins And Minerals Supplements Market size was estimated at USD 53241.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 21296.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0 % from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the OTC Multivitamins And Minerals Supplements Market with a market size of USD 16802.92 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. The demand is amplified by the nation's High health awareness and strong demand for preventative healthcare.
• The Canada OTC Multivitamins And Minerals Supplements Market had a market share of USD 2555.58 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. Canada's widespread health consciousness and robust healthcare infrastructure to increased usage of OTC Multivitamins And Minerals Supplements.
• The Mexico OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.5 % during the forecast period, with a market size of USD 1937.98 million in 2024.

Europe OTC Multivitamins And Minerals Supplements Market

According to Cognitive Market Research, the global OTC Multivitamins And Minerals Supplements Market size was estimated at USD 53241.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 15972.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3 % from 2024 to 2031.

• The United Kingdom OTC Multivitamins And Minerals Supplements Market had a market share of USD 2683.36 million in 2024 and is projected to grow at a CAGR of 8.1 % during the forecast period. In the U.K., OTC Multivitamins And Minerals Supplements sales witness an upswing due to the nation's rising health and wellness trends and an aging population.
• The France OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 6.5 % during the forecast period, with a market size of USD 1469.46 million in 2024.
• According to Cognitive Market Research, the German OTC Multivitamins And Minerals Supplements Market size was valued at USD 3162.53 million in 2024 and is projected to grow at a CAGR of 7.5 % during the forecast period. In Germany, OTC Multivitamins And Minerals supplement sales surged due to the strong focus on preventative health and wellness, coupled with high disposable incomes.
• The Italy OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 6.7 % during the forecast period, with a market size of USD 1373.62 million in 2024.
• The Russia OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 6.3 % during the forecast period, with a market size of USD 2475.72 million in 2024.
• The Spain OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 6.4 % during the forecast period with a market size of USD 1309.73 million in 2024
• The Luxembourg OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.4 % during the forecast period, with a market size of USD 495.14 million in 2024.
• The Portugal OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 335.42 million in 2024.
• The Greece OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.6 % during the forecast period, with a market size of USD 191.67 million in 2024.
• Rest of Europe's OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 6.0 % during the forecast period, with a market size of USD 2475.72 million in 2024.

Asia Pacific OTC Multivitamins And Minerals Supplements Market

According to Cognitive Market Research, the global OTC Multivitamins And Minerals Supplements Market size was estimated at USD 53241.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 12245.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.

• According to Cognitive Market Research, the China OTC Multivitamins And Minerals Supplements Market size was valued at USD 5510.46 million in 2024 and is projected to grow at a CAGR of 10.3 % during the forecast period. OTC Multivitamins And Minerals Supplements sales surged in China due to increasing health awareness and rising disposable incomes.
• The Japan OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 9.3 % during the forecast period, with a market size of USD 1689.88 million in 2024.
• The India OTC Multivitamins And Minerals Supplements Market had a market share of USD 1469.46 million in 2024 and is projected to grow at a CAGR of 12.6 % during the forecast period. India's rapid economic growth and growing health consciousness among the population augment the demand.
• The South Korean OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 9.9% during the forecast period, with a market size of USD 1224.55 million in 2024.
• The Australia OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 10.5 % during the forecast period, with a market size of USD 636.76 million in 2024.
• The South East Asia OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 11.8% during the forecast period, with a market size of USD 844.94 million in 2024.
• The Rest of Asia Pacific OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 10.6 % during the forecast period, with a market size of USD 869.43 million in 2024.

South America OTC Multivitamins And Minerals Supplements Market

According to Cognitive Market Research, the global OTC Multivitamins And Minerals Supplements Market size was estimated at USD 53241.2 Million, out of which Latin America market of more than 5% of the global revenue with a market size of USD 2662.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2 % from 2024 to 2031.

• According to Cognitive Market Research, the Brazil OTC Multivitamins And Minerals Supplements Market size was valued at USD 1139.36 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. OTC Multivitamins And Minerals Supplements sales flourish in Brazil due to Improving healthcare access and growing awareness of nutritional benefits.
• Argentina OTC Multivitamins And Minerals Supplements Market had a market share of USD 447.23 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. Argentina's Government health initiatives and increasing public awareness augment the demand.
• Colombia OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 236.92 million in 2024.
• Peru OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 8.4% during the forecast period, with a market size of USD 218.29 million in 2024.
• Chile OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 8.5 % during the forecast period, with a market size of USD 191.67 million in 2024.
• The Rest of Latin America OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.3 % during the forecast period, with a market size of USD 428.59 million in 2024.

Middle East and Africa OTC Multivitamins And Minerals Supplements Market

According to Cognitive Market Research, the global OTC Multivitamins And Minerals Supplements Market size was estimated at USD 53241.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 1064.82 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5 % from 2024 to 2031.

• The GCC Countries OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 9.3 % during the forecast period, with a market size of USD 455.74 million in 2024. OTC Multivitamins And Minerals Supplements sales flourish due to the rising prevalence of nutritional deficiencies and growing health awareness.
• The Egypt OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 111.81 million in 2024.
• The South Africa OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 9.5 % during the forecast period, with a market size of USD 168.24 million in 2024. OTC Multivitamins And Minerals Supplements sales flourish in South Africa due to the Increasing health awareness and prevalence of nutritional deficiencies.
• The Turkey OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 8.0 % during the forecast period, with a market size of USD 91.57 million in 2024.
• The Nigeria OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.6 % during the forecast period, with a market size of USD 111.81 million in 2024.
• The Rest of the MEA OTC Multivitamins And Minerals Supplements Market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 125.65 million in 2024.

OTC Multivitamins And Minerals Supplements Market Analysis

OTC Multivitamins And Minerals Supplements Market Type Segment Analysis

According to Cognitive Market Research, Tablets are the largest segment in the OTC multivitamins and minerals supplements market due to their convenience, longer shelf life, and ease of consumption. They offer precise dosage control and are widely available across various retail and online channels, catering to diverse consumer preferences.

Softgels emerge as the fastest-growing segment, driven by their enhanced absorption rates, better stability for sensitive ingredients, and rising demand for specialty supplements like omega-3 fatty acids and herbal extracts. The soft gel format's popularity is also attributed to its perceived efficacy and ease of swallowing, particularly among older adults and children.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of OTC Multivitamins And Minerals Supplements Industry. Request a Free Sample PDF!

OTC Multivitamins And Minerals Supplements Market End User Segment Analysis

According to Cognitive Market Research, Adults represent the largest end-user segment in the OTC multivitamins and minerals supplements market due to their diverse health needs, ranging from immune support to energy enhancement and overall well-being. The adult population's growing health consciousness, coupled with busy lifestyles, drives the demand for convenient and effective supplement options.

Pregnant women constitute the fastest-growing end-user segment, fueled by increased awareness of prenatal nutrition's importance in supporting maternal health and fetal development. Rising healthcare expenditure and targeted marketing efforts also contribute to the segment's rapid expansion, with a focus on specialized formulations tailored to pregnancy-specific nutritional requirements.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

OTC Multivitamins And Minerals Supplements Functionality O Segment Analysis

Functionality Segment Analysis

According to Cognitive Market Research, The largest segment in the OTC multivitamins and minerals supplements market is General Health, catering to a wide range of consumers seeking overall well-being, vitality, and nutritional support. This category includes supplements with a broad spectrum of vitamins, minerals, and other nutrients essential for maintaining good health and addressing common deficiencies.

Immunity emerges as the fastest-growing functionality segment, fueled by increasing awareness of immune health's importance, especially in the context of global health challenges like the COVID-19 pandemic. Consumers are seeking supplements with ingredients like vitamin C, vitamin D, zinc, and probiotics to strengthen their immune systems and support optimal health and resilience.

• Energy & Weight Management
• General Health
• Bone & Joint Health
• Gastrointestinal Health
• Immunity
• Cardiac Health
• Diabetes
• Anti-cancer
• Others

OTC Multivitamins And Minerals Supplements Distribution Channel Segment Analysis

According to Cognitive Market Research, in the OTC multivitamins and minerals supplements market, Offline distribution channels, encompassing brick-and-mortar stores, pharmacies, supermarkets, and specialty health stores, currently dominate as the largest channel. These traditional retail outlets offer convenience and a personalized shopping experience, attracting a wide range of consumers seeking supplement products.

Online distribution channels are experiencing rapid growth and emerge as the fastest-growing segment. Factors such as increasing internet penetration, e-commerce platforms' convenience, and the COVID-19 pandemic's impact, which led to a surge in online shopping, contribute to this segment's expansion. Consumers appreciate the convenience of ordering supplements online, accessing a broader range of products, and often benefiting from competitive pricing and doorstep delivery services.

• Online
• Offline

Author's Detail

Manjiri Kanhere

Senior Research Associate at Cognitive Market Research

LinkedIn

Profile

Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.

Author's Conclusion