According to a new market research report published by sheer analytics and insights, “The OTC Multivitamins & Minerals Supplements Market was valued at $51.2 Billion in 2020. Growing at a high CAGR of more than 8.6% between 2021 and 2031”, it is estimated to reach $130.8 Billion by 2031, as per the latest market research report titled OTC Multivitamins & Minerals Supplements Market - Industry analysis, size, share, growth, trends, and forecast, 2021-2031.
Increasing consumer awareness about the benefits of a healthy diet and nutritious and overall wellness has anticipated the OTC multivitamin and minerals supplements market's robust growth. Gym workouts and other fitness activities are part of the younger generation's daily routine across the region, which helps the industry grow in the forecast period. These supplements have health benefits in maintaining good vision, healthy skin, normal appetite, red blood cell formation, and nervous system. Increasing consumer inclination towards a healthy diet due to increasing incidences of chronic diseases, like diabetes and high blood pressure, drives the market.
However, in this current pandemic of COVID-19, the OTC Multivitamins & Minerals Supplements market is affected much. It changes the growth rate graph slightly in the OTC Multivitamins & Minerals Supplements market. But it has been expected that after the pandemic situation, the OTC Multivitamins & Minerals Supplements market will reach a high position in the graph. Apart from that, the rising of the OTC Multivitamins & Minerals Supplements sector across the world is anticipated to offer a massive opportunity for market growth in the next forecast period of 2021 to 2031.
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Geographically, The OTC Multivitamins & Minerals Supplements Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Amway; Abbott; Bayer AG; Glanbia plc; GlaxoSmithKline plc; Herbalife International of America, Inc.; NU SKIN; NOW Foods; Bionova; Bright Life Care Private Limited; Sun Pharmaceutical Industries Ltd.; Nature's Sunshine Products, Inc.; Nutra Essential OTC; Nature's Bounty Co.; and Arkopharma among others.
The Global OTC Multivitamins & Minerals Supplements Market Has Been Segmented into:
Global OTC Multivitamins & Minerals Supplements Market: By Ingredient
Global OTC Multivitamins & Minerals Supplements Market: By Form
Global OTC Multivitamins & Minerals Supplements Market: By Functionality
Global OTC Multivitamins & Minerals Supplements Market: By End-User
Global OTC Multivitamins & Minerals Supplements Market: By Region
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