Vitamin Tonics Market - Forecast(2024 - 2030)

Report Code: HCR 0981 Report Format: PDF + Excel

Vitamin Tonics Market Overview

The Vitamin Tonic Market Size is estimated to reach $8.7 billion by 2027 and it is poised to grow at a CAGR of 6.4% over the forecast period of 2022-2027. Vitamin Tonics are an amalgamation or are present in singularity for various vitamin classes such as vitamins A, C, D, E and K, along with thiamine, riboflavin, niacin and other forms of vitamins such as folic acid. Vitamin tonics are used to prevent and cure a variety of deficient disorders such as rickets, osteocalcin, angular stomatitis, anemia and others. By just following the regular consumption intervals of vitamin tonics, people can compensate for their bad food habits and lack of exercise. Vitamin tonics find utility in veterinary medicines as well, with Zipvit syrup as a nuanced multivitamin tonic for dogs, cats and birds. Owing to an increasing trend in health consciousness along with the availability of a plethora of options and advertising gimmicks followed by marketers, the Vitamin Tonics industry would offer lucrative opportunities during the forecast period of 2022-2027.

Vitamin Tonics Market Report Coverage

The report: “Vitamin Tonics Market Forecast (2022-2027)" by IndustryARC, covers an in-depth analysis of the following segments in the Vitamin Tonics Market.

by  Product Types – Syrup, Capsules, Tablets and Multivitamin Injections.
by Sales Channel- Dermatology Hospital Clinics, Retail Pharmacies and Drug Stores, E-Commerce and Hospitals.
by Geography: North America (the U.S., Canada and Mexico), Europe (Germany, the U.K., France, Italy, Spain, Russia and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, Asia-Pacific held a dominant market share in 2021. It is due to the massive middle-class population in India and China. Moreover, Asia-Pacific along with South America would continue to grow at lucrative rates in the forecast period of 2022-2027.
  • There is a  growing interest in consuming the necessitated vitamin amounts as well as a sustainable increase in the knowledge for controlling chronic diseases. Moreover, companies are actively addressing the global demand by educating consumers about the need for vitamins. However, overdosing on the component of vitamin tonic can lead to potential side effects.
  • A detailed analysis of the strengths, weaknesses, opportunities and threats would be provided in the Vitamin Tonic Market Report.

Vitamin Tonics Market- by Market Share (%) by region, 2021.

 Vitamin Tonics Market

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Vitamin Tonics Market Segment Analysis - by Product Types

The Vitamin Tonics Market based on product types can be further segmented into Syrup, Capsules, Tablets and Multivitamin Injections. The Tablets category held a dominant market share in 2021. It is owing to a demand catered by factors such as extended shelf life, low cost compared to other mediums and extremely convenient packaging supplementing the wants of both manufacturers and consumers. Moreover, tablets have a tolerated intake potency, thereby mitigating the chances of toxicity. However, multivitamin injections are estimated to be the fastest-growing segment, with a CAGR of 6.8% over the forecast period of 2022-2027. This form of product offers a direct release of supplementation in the bloodstream at a higher rate, increasing the plausible effects and helping with excessive cases of vitamin deficiency. As per NCBI, nearly 57% of preschoolers and their mothers in India have subclinical Vitamin A Deficiency.

Vitamin Tonics Market Segment Analysis - by Sales Channel

The Vitamin Tonics Market based on sales channels can be further segmented into Dermatology Hospital Clinics, Retail Pharmacies and Drug Stores, E-Commerce and Hospitals. Retail Pharmacies and Drug Stores held a dominant market share in 2021. Most people would prefer to take preventative actions to improve their health than treat disease later and deal with the consequences. Additionally, the numbers and reach of independent pharmacies and drug stores allow for greater hold. For example, as per Commonwealth Fund, 2021 - the U.S. had nearly 60,000 retail pharmacy stores. However, E-Commerce is estimated to be the fastest-growing sector, with a CAGR of 7.0% over the forecast period of 2022-2027. It is due to a larger number of participants in the digital marketplace, along with attractive marketing strategies and cost-control programs, that this segment would offer higher opportunities than any other form.

Vitamin Tonics Market Segment Analysis - by Geography

Asia-Pacific held a dominant market share of 35% in the year 2021 owing to a substantial presence of the middle-class population, specifically in the Indian and Chinese regions. Moreover, the growth of North America has slowed, particularly the vitamin tonics market in the U.S. This has propelled the Asia-Pacific region to claim the top spot. As per the Hindu Business 2022, nearly 35 crore people of the 135-crore population in India are middle-class. Similarly, the Chinese population’s middle-class income share stands equivalent to India. Moreover, Asia-Pacific is estimated to be the fastest growing, with a CAGR over the forecast period of 2022-2027. It is due to growing cases of vitamin deficiencies in major markets of the Asian region that would continue to support the market growth. Moreover, the South American market looks ripe for opportunities by marketers, if certain political nuances settle in the region.

Vitamin Tonics Market Drivers

Increasing Health Consciousness among the Global Population:

Health consciousness trends existed before the pandemic struck. However, only after COVID-19, the actual demand for the wellness items such as vitamin tonics was felt. The pandemic exacerbated a trend of death and seriousness for people with weakened immune systems and sustainable demand for vitamin tonics was noticed. As per Renolon 2022 Survey Insights, nearly 25%-30% of all grocery customers in the U.S. and Europe belong to the category of health-conscious. 

The Compelling Increase in Urbanization Trends Fueling the Geriatric Population Across the Globe:

A significant rise in urbanization has been a key propeller in the rising of diseases and nutrient deficiency. As per UN Notification, in 2019, nearly 55% of the world’s population lived in urban areas, a proportion that is expected to increase to 68% by 2050. Moreover, a threatening increase in the geriatric population, prone to vitamin deficiencies amongst other illnesses, has provided the market with the needed impetus. As per ACL.GOV, nearly 16% of the population was aged in 2019, which is supposed to grow to 21.6% by 2040, driving the Vitamin Tonics market in the U.S. Due to these reasons, the market would drive high growth results in the forecast period.

Vitamin Tonics Market Challenges

The Growing Regulations in the Marketplace along with the Cases of Vitamin Toxicity and False Label Claims:

As per Medscape, nearly 50,000 instances of vitamin toxicity are reported in the U.S. alone, which impedes the adoption and hampers the Vitamin Tonics market in the U.S. Moreover, the increasing regulations on tonics under the Dietary Supplement Health and Education Act (DSHEA) of 1994 and New Dietary Ingredient (NDI) guidelines have restricted the entry of smaller companies into the market. Furthermore, the cyclicity of evident false claims has been on a rise. For example, FDA and FTC warned nearly 10 companies that were illegally selling dietary supplements claiming to treat diseases without proof.

Vitamin Tonics Industry Outlook 

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Vitamin Tonics market. The top 10 companies in the Vitamin Tonics market are:

1. Seven Seas
2. Sapiens Pharmaceuticals
3. Amway
4. Abbott Labs
5. Albert David Ltd.
6. Vitabiotics Ltd.
7. Vitane Pharmaceuticals
8. Fitzroy International
9. Lloyds Pharmacy
10. Cerebos Ltd

Recent Developments

  • In December 2021, Australia’s Rogue Beverages rolled out health tonics in New Zealand with outlining for global launch. The Botanical Health Tonic was sold through 40 outlets in New Zealand, including retailers such as Bin Inn, Mojo Coffee Roasters and Natural Organics.
  • In July 2021, BioGlena powdered components for immune support were launched by Solabia-Algatech Nutrition. The company is working to expand its microalgae range to fulfill the growing demand for immune-boosting and clean-label components.
  • In March 2021, Ampli-D, a fast-acting version of vitamin D for dietary supplements, is launched in Australia by Royal DSM. It is a more effective strategy to support immunological function by increasing vitamin D levels in the body. 

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1. Vitamin Tonics Market - Overview
    1.1 Definitions and Scope
2. Vitamin Tonics Market - Executive Summary
3. Vitamin Tonics Market - Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Vitamin Tonics Market - Start-up Companies Scenario Premium
    4.1 Key Start-up Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Vitamin Tonics Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Vitamin Tonics Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Vitamin Tonics Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Vitamin Tonics Market – by Product Types
    8.1 Syrup
    8.2 Capsules
    8.3 Tablets
    8.4 Multivitamin Injections
9. Vitamin Tonics Market – by Sales Channels
    9.1 Dermatology Hospital Clinics
    9.2 Retail Pharmacies
    9.3 E-commerce
    9.4 Hospitals
10. Vitamin Tonics Market - by Geography
    10.1 North America
        10.1.1 The US
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 The UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 The Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 India
        10.3.3 Japan
        10.3.4 South Korea
        10.3.5 Australia & New Zealand
        10.3.6 The Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Chile
        10.4.4 Colombia
        10.4.5 The Rest of South America
    10.5 The Rest of the World
        10.5.1 The Middle East
        10.5.2 Africa
11. Vitamin Tonics Market - Entropy
12. Vitamin Tonics Market – Industry/Segment Competition Landscape Premium 
    12.1 Market Share Analysis
        12.1.1 Market Share by Region – Key companies
        12.1.2 Market Share by Countries – Key Companies
    12.2 Competition Matrix
    12.3 Best Practices for Companies
13. Vitamin Tonics Market – Key Company List by Country Premium Premium
14. Vitamin Tonics Market - Company Analysis
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10
* "Financials would be provided to private companies on a best-efforts basis."
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