According to FutureWise analysis the market for OTC vitamins and dietary supplements in 2023 is US$ 101.54 billion, and is expected to reach US$ 164.55 billion by 2031 at a CAGR of 6.20%.
Supplements high in vitamins and minerals have therapeutic characteristics that provide healing effects in addition to meeting daily nutrient requirements. It aids in the development of a healthy immune system that protects against common ailments. Vitamins and minerals have become extremely popular in the food and beverage industry in recent years. Food enrichment is a procedure that involves adding minerals and vitamins to food products that may have been lost during the production or storage process. It is regarded as a key method highlighted by the World Health Organization for raising mineral and vitamin intake among consumers globally. OTC vitamins and nutritional supplements are often available without a prescription and have acquired widespread acceptability for delivering needed body nutrients that aid in the enhancement of a person's diet, physical stamina, and performance. Vitamins and dietary supplements are becoming more useful thanks to recent advancements in product design. The market's growth is aided by the ageing population, changes in living habits, and the future directions of self-directed customers. In emerging nations, people are becoming more aware of the nutritional benefits and health benefits of these goods, and sales of vitamins and dietary supplements are likely to rise. The demand for OTC vitamins and dietary liquid supplements is predicted to rise due to rising healthcare spending, an increasing senior population, and a growing interest in preventative healthcare.
FutureWise Market Research has instantiated a report that provides an intricate analysis of OTC Vitamins And Dietary Supplements Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the OTC Vitamins And Dietary Supplements Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.