According to the recent study conducted by Fact.MR, global demand for over-the-counter vitamins and dietary supplements is forecast to increase at 6.7% CAGR during the forecast period (2017-2022) to exceed a valuation of 97,688 millions of dollars.
Over-the-counter vitamin and dietary supplement products. Over-the-counter (OTC) vitamins and dietary supplements are sold direct to consumers without any medical prescription. In many countries, OTC vitamins and food supplement products are regulated to ensure they are effective and safe when used.
Drug regulators allow manufacturers to formulate vitamin ingredients or a combination of ingredients that are well tolerated and have no risk of side effects or reactions. In recent years, the healthcare industry has grown exponentially, which has positively reflected in the global market for OTC vitamins and dietary supplements.
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Sales of these products have also increased in emerging countries such as China, India and Brazil, mainly due to increasing consumer awareness of the health benefits of these products. The convenience of direct purchase, profitability, and growing trends in self-treatment are additional factors that are expected to fuel the growth of the market. In addition, manufacturers are also focusing on the development of advanced product formulations to improve their functionality.
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Global Over-the-Counter Vitamins and Dietary Supplements Market Size and Forecast by Function
- Immune health
- Digestive health
- Heart health
- Bone and joint health
- General well-being
Global OTC Vitamins and Dietary Supplements Market Size and Forecast by OTC Channel
- Modern commerce
- Online shop
- Other retail
Global Over-the-Counter Vitamins and Dietary Supplements Market Size and Forecast by Product Form
Global Over-the-Counter Vitamins and Dietary Supplements Market Size and Forecast by Region
- North America
- Latin America
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The following insights taken from Fact.MR’s report on the Global Over-the-Counter Vitamins and Dietary Supplements Market will be crucial for the future growth of the market.
- Among the regions, North America is expected to remain one of the most lucrative markets for over-the-counter vitamins and dietary supplements between 2017 and 2022. The region currently holds the highest value share in the global market as demand for various over-the-counter drugs is increasing, particularly in the United States, Asia-Pacific Ex-Japan (APEJ) is also expected to become an attractive market for over-the-counter vitamins and dietary supplements by 2022. In terms of turnover, the European market should represent more than 31% of the world market share. , by the end of 2017.
- On the basis of functions, OTC vitamins and food supplements are mainly used to maintain the general well-being of the body. The general wellness segment represents a significant percentage of the overall market turnover.
- In 2017 and beyond, pharmacies will continue to be the number one OTC channel for the sale of OTC vitamin products, including capsules and tablets. More than a quarter of the global market’s revenue share is currently captured by the over-the-counter pharmacy channel segment. However, this OTC channel segment is expected to lose a small fraction of its revenue share in 2020, mainly due to the emergence of new OCT channels such as online retail and modern commerce.
- Sales of OTC vitamins and capsule-based dietary supplements will remain strong during the forecast period. By the end of 2022, nearly $ 32,891 million worth of capsules are expected to be sold globally.
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The market for over-the-counter vitamins and dietary supplements includes
- Koninklijke DSM NV
- Reckitt Benckiser LLC
- Otsuka Holdings Co. Ltd.
- CSPC Pharmaceutical Group Limited
- Sanofi SA
- Atrium Innovations Inc.
- EI du Pont de Nemours et Cie.
- Bactolac Pharmaceutical Inc.
- Dil Limited.
- GlaxoSmithKline plc.
- Pfizer Inc.
- Lonza Group Ltd.
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