Market Overview:

The Global Nutritional, Vitamin & Food Supplement Analytical Services Market Was Valued At USD 149.51 Billion In 2022 And Is Expected To Reach USD 272.67 Billion In 2030, Along With Is Growing CAGR Of 7.8% During The Forecast Period Of 2022-2030.

Vitamin supplements are meant to add to a person's regular diet by giving them the essential nutrients they need every day. Vitamins help the body grow and work the way it should. Vitamins are important for the body's health because they act as hormones, coenzymes, and antioxidants. Some of the main things that are expected to drive the growth of the global vitamin supplements market in the near future are changes in how people eat, busy and hectic lifestyles, more people getting jobs, and more people learning about the health benefits of taking vitamin supplements. People's busy lives make it hard for them to eat well, which means their bodies don't get enough of the nutrients they need. So, more and more people are taking vitamin supplements to get all the nutrients and vitamins they need every day. This helps them stay healthy and active.

People are becoming more and more likely to take vitamins and supplements as part of their daily routine as they become more interested in and worried about their own health and well-being. More than 60% of people around the world take vitamins (functional food products) every day, and about 55% are tempted to take supplements to keep their health and life in balance. The fact that consumers are optimistic, believe in the benefits, and have more money to spend has made it easier for premium brands to keep growing in 2020 and beyond.

COVID-19 Impact:

In the food and drink industry, markets are closing down and people are buying less, but in the nutraceuticals industry, people are buying more healthy and nutritious products. In the wake of the COVID-19 pandemic, people are looking for these products to boost their bodies' natural defenses. Vitamin and supplement companies can expect to find new ways to make money because of new research and ideas about how to use antioxidants to boost the immune system. According to the U.S. National Health and Nutrition Examination Survey, more than 50% of the U.S. population ate these products during the pandemic. The trend is likely to keep going around the world, and new ideas and improvements in technology will play a big role.

Market Dynamics:

Market Trends:

• Demand for Herbal Supplements for Improving Immunity System is a New Trend

People who want to avoid coronavirus symptoms like shortness of breath, chest pain, diarrhea, tiredness, and others are looking for new, healthy products that are packed with nutrients. So, there is a lot of demand in the nutraceuticals industry for protein, food for kids, food for athletes, multivitamins, and other products that reduce health risks. Manufacturers are putting a lot of effort into making products that boost the immune system and that also have the benefits of natural herbs and botanicals. According to a report put out by Wright Enrichment Inc. in 2018, the use of herbs and botanicals in the nutraceuticals industry went up by 6.7% in 2017 and is expected to keep going up in the years to come as demand grows.

Driving Factors:

• Technological Advancements and Rising Consumer Spending to Shape Market Growth

Over the past few years, people have spent more on dietary supplements because there are more older people and more children around the world. Several food standards and governments are updating the rules and approvals for vitamin and supplement overproduction, which has made the market more competitive. Also, the fact that people are paying more attention to health products that help them stay healthy has made production and marketing more effective. Manufacturers are putting out more and more products that use the latest technologies and are made with high production efficiency. The vitamins and supplements market will grow over the next few years because more people are buying them and companies are coming up with new products.

• Increasing Self-directed Care and Ease of Access to Proliferate Market

With more people using the internet and the health supplement industry becoming more unstable, people are becoming more interested in personalized medicines and care. The Internet is one of the most important ways to shop, which makes it easier for people to get their hands on dietary supplements on the market. Manufacturers are putting a lot of effort into getting vitamins, minerals, and supplements to customers through online channels to make shopping easier. According to a report by World Food India, dietary supplement products make up more than 25% of the global nutraceuticals market and are expected to help the vitamins and dietary supplements (VDS) market grow in the coming years.

• Shift In Consumer Preference Due to Increase in Focus on Health And Prevention

"Self-care" has become an important part of the life of the modern consumer. People's diets have changed a lot because people are paying more attention to overall health and immunity. Use of vitamins, minerals, foods that boost your immune system, organic products, supplements, and other nutritional aids has gone up a lot.

Even though the ongoing pandemic has made people pay more attention to immunity, it is well known that having a healthy immune system can help lower the risk of diseases and infections and make them less severe when they do happen. It is also an important factor that, along with good nutrition, can boost the body's natural defenses. As people become more concerned with their overall health, there has been a big rise in the demand for products that boost the immune system.

People are turning to nutraceuticals like dietary supplements because they are more concerned about their health and have more money to spend on themselves. People are more likely to take multivitamins and minerals in the form of capsules and tablets now that they know more about fitness and health and have changed their ways of living.

Restraining Factors:

• Stringent Regulations and Revised Tax Structure to Dampen Market Expansion

Since there are so many rules and procedures to follow before a product is released, the market has been facing a lot of problems for the past few years. Manufacturers are required to send in a sample of vitamins and supplements along with a notice saying that the product is likely safe for sale. Under the Dietary Supplement Health and Education Act of 1994 (DSHEA), the product must be tested for a long time. This causes a delay in getting the product on the market. So, the tax structure has also gone up by 5–10% over the past few years, which is slowing the growth of the market.

• High Cost of Dietary Supplements

The price of a supplement can change a lot depending on where the ingredients come from (synthetic or natural) and the time of year. Synthetic ingredients are cheaper to make and don't require taking care of natural sources from which the active ingredients are taken. Natural raw

materials, on the other hand, can't be beat when it comes to quality. Another thing that can affect the final price of dietary supplements is how bioavailable or seasonal the raw materials are.

Also, most natural ingredients aren't available all year long, and their prices may go up during certain months. Both of these things affect how much it costs to make a supplement. Ingredients that were made after years of research and spending money on them to make them better, more effective, and easier to absorb than those already on the market are likely to be more expensive.

For example, Glucosamine, a common ingredient in products that help bones and joints, is more expensive when it comes from sharks than when it comes from cows. Also, it costs a lot to check that certain ingredients are used. Testing and certification by a third party, like getting a product USP-certified, will almost certainly raise the price of the product.

Opportunities:

• Shift towards Plant-Based Supplements

The market for plant-based protein ingredients is growing quickly, as people move away from animal-based proteins and toward plant-based ones. This is likely to cause people to switch to herbal supplements and botanicals made from plants, which will help the herbal supplements market grow even more.

Botanical extracts are becoming more popular because people want products with clean labels, are worried about the environment, and need to avoid allergens as much as possible. The people who use these herbal supplements are changing from vegans to flexitarians. This is another sign that consumer tastes are changing. Vitamins and minerals that come from plants may be better for your health than nutrients that are made in a lab.

• Rise In Geriatric Population in Developed and Developing Economies

The growing number of older people in both developed and developing economies is likely to give market players good chances for growth in the near future. Most people who take vitamin supplements are older people. They need vitamin supplements to get all the nutrients they need and to make their bones and other parts stronger, among other things. The Australian government's Better Health Channel said that Vitamin E is often seen as a possible fountain of youth. But there is no proof that taking a lot of any vitamin can slow down or stop the effects of getting older.

Challenges:

• Consumer Skepticism and Fake Supplements Associated with Nutraceuticals Products

Nutraceuticals and dietary supplements are made from natural ingredients and are thought to be good for your health. They have become more popular in the last 20 years. It's been hard to describe these products. In contrast to dietary supplements, nutraceuticals are supplements that have health benefits that go beyond their basic nutritional value. They not only add to a person's diet, but they can also help prevent or treat a disease or disorder.

But these products are often met with skepticism because of concerns about how well they work and how safe they are. This is partly because the nutraceutical industry is known to lack regulation and oversight. People said that they didn't use nutraceuticals because they didn't believe in their health benefits, they were too expensive, and they didn't know much about them.

People often have a lot of doubt about what dietary supplements say they can do. Even if there is a strong claim on the label, this mistrust can last. On the other hand, if there is a strong reason to believe a claim, people are more likely to try it and, in the end, stick with it (i.e., re-purchase).

Strategic Development:

• In January 2020 - Franchise Group, Inc. released Vthrive, a new product that adds to its line of vitamins, protein, and supplements.
• In May 2020- Three new vitamin C products with the brand names Toplife and Springleaf were released by Homart Pharmaceuticals to meet the growing demand for products that help the immune system.
• In May 2021 - Herbalife Nutrition and The Herbalife Nutrition Foundation will start working with the Asociacion Mexicana de Bancos de Alimentos ("BAMX"), a non-profit organization that distributes food in Mexico to help people who don't have enough to eat. As part of the Nutrition for Zero Hunger initiative, $50,000 will be given through this partnership to help families and people in need in Mexico get healthy food.
• In November 2021 - The deal for ADM to buy Deerland Probiotics & Enzymes is finished. The company's products and services include spore probiotics, which are more stable and can be used more often in food and drink, pet food, and supplements.
• In October 2021 - Abbott announced that it had signed a deal to be the Health Sciences and Nutrition Partner of the Real Madrid Football Club and the Global Partner of the Real Madrid Foundation. The Real Madrid Foundation is an organization started by the football club to teach children around the world about the values that come with sports. Through education, sports, and social welfare programs, the partnership will help at-risk children in 80 countries. It will also provide nutritional support for the first men's and women's teams and help come up with new products.

Key Vendors:

Top market players are

• EAG Laboratories

Eurofins Scientific (EUFI.PA), a global leader in bioanalytical testing, announces the successful closing of the transaction to acquire EAG Laboratories (“EAG”), a leading global scientific services company providing analytical testing and consulting solutions to a diverse and demanding set of end markets, from affiliates of Odyssey Investment Partners, as communicated on September 18, 2017.

• Capsugel

Capsugel designs, develops, and makes a wide range of innovative dosage forms for the biopharmaceutical and consumer health and nutrition industries. Our unique mix of science, engineering, formulation, and capsule knowledge allows customers to improve their products' bioavailability, targeted delivery, and overall performance.

• Atlantic Essential Products Inc.

Atlantic Essential Products makes, packages, and sells health products, vitamins, and supplements as its main business.

• ORC Expert Services

Orc Group provides technology and services to the global financial industry, with a focus on advanced trading, market making, and brokerage. It helps buy-side and sell-side professionals, such as investment banks, market making and trading firms, stock exchanges, brokers, institutional investors, and hedge funds, trade and get access to the market. Options, which are one of Orc's core products, are an important part of risk management and analysis. The company was started in 1987 and has offices in every major financial center around the world.

• Robert M. Kerr Food & Agricultural Products Center (FAPC)

The Robert M. Kerr Food & Agricultural Products Center's goal is to help develop successful value-added businesses in Oklahoma so that the products, jobs, and money can stay in the state. FAPC started doing business in the beginning of 1997. The 96,000-square-foot stand-alone building has facilities for animal harvesting, food manufacturing, grain milling, sensory profiling, food microbiology, and analytical labs, as well as conference rooms and labs for demonstrating and testing prototypes.

• Dazmed Pharmaceuticals

Dazmed Pharmaceuticals is the biggest pharmaceutical company in the United States. They want to become a global player by offering high-quality, affordable, and new ways to treat and cure diseases.

• NutraScience Labs

A subsidiary of Twinlab Consolidation Corporation, NutraScience Labs is an award-winning company that offers full-service solutions for contract manufacturing, graphic design, packaging, and order fulfillment to companies that make dietary supplements. The company is based in Farmingdale, New York, and specialty is making custom capsule, tablet, powder, and soft gel products to help with healthy weight loss, vision, cognition, digestion, and a lot more.

• Eurofins Microbiology

Eurofins Microbiology is a world leader in bioanalytical testing, and its new ISO 17025-accredited lab in Louisville, Kentucky, USA, is state-of-the-art and equipped with the latest technology. Express Micro is based in a microbiology lab that uses new and specialized logistics to get fast and high-quality results when time to product release is very important. The lab has the testing services needed to quickly count, find, or identify microorganisms that cause disease, spoilage, or are good.

Segmentation Analysis:

By Product Type Outlook:

People all over the world are getting more and more worried about micronutrient deficiencies. People take multivitamin supplements because they help make up for missing micronutrients. These supplements contain several micronutrients, like vitamins A, C, E, and D, to lower the risk of malnutrition in people who take them. According to the World Health Organization (WHO), more than 2 billion people had micronutrient deficiencies in 2018. As a result, more and more people around the world are turning to multivitamin supplements.

But more babies are being born and more older people are living in developing countries. This is helping the pediatric and calcium supplement segments grow, respectively.

• Multivitamins
• Calcium Supplements
• Pediatric Supplements
• Others (Mineral & Protein)

By Form:

When it comes to pills you take by mouth, capsules do pretty well in the vitamins and supplements industry because they are easy to digest and break down in the gut. Unlike tablets, capsules tend to break down quickly, which is one of the main things that keeps its sales going. Tablets are the second-largest form segment. They have fillers that hold the pills' ingredients together and give them taste and texture. So, it takes longer for the body to take in than a pill.

• Capsule
• Tablet
• Powder
• Liquid/Gel

By Distribution Channel:

The supermarkets and hypermarkets market is becoming very popular around the world because it has a wide range of products at low prices all under one roof. Separate product shelves in these stores make it easy for customers to shop, which has led to more people coming in. The fast growth of modern trades and mass merchandisers in developing markets like India and China makes it possible for more supplements and vitamins to be sold all over the world. On the global market, specialty stores are also doing pretty well. Customers can choose from a wide range of brands and prices, which draws them to these stores.

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retails

By Age Group:

In terms of revenue share, the adult age group led the market in 2022, and this is likely to stay the case throughout the forecast period. This is because more adults, both men and women, are working and people in developed countries like nutritional supplements more than they used to. This segment is also growing because of the growing number of obese people, the growing demand for functional foods, and the desire to stay healthy and active.

On the other hand, the kids' market is thought to be the most promising one because parents are becoming more aware of the health benefits of nutritional supplements. In 2020, it is thought that baby boomers will make up about 21% of the world's population.

• Kids
• Adults
• Geriatric

Regional Insights:

Geographically, the global Nutritional, Vitamin, and Food Supplement Analytical Services market has been looked at in places like North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be dominated by the global Nutritional, Vitamin, and Food Supplement Analytical Services region.

Due to the growing number of people with food allergies in the Asia-Pacific region, the market there is expected to grow at the fastest rate over the next few years. Also, the market in Europe is expected to have the biggest share of the market in terms of revenue in 2021, thanks to the work done by agencies in the region to make sure food is safe to eat. Along with this, North America is also the leader when it comes to improving analytical services for nutrition, vitamins, and food supplements. This is also expected to help the market grow in the region. On the other hand, due to the rules set by the U.S. Food and Drug Administration (FDA), the market in the region is also expected to have a large share. Also, the market in Latin America is always looking for these kinds of analytical services because the number of packaged and processed foods is growing. The JBS meat scandal in Brazil had a big effect on the area. The scandal is thought to have led to stricter government regulations across the country, which helped the market grow.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The global vitamins and supplements market research report gives a detailed look at the industry and focuses on important things like the top companies, types of products, and top channels for selling them.
• In addition, the market report shows how the industry is changing and what the most important changes are. The market research comes with information about the main things that drive, stop, or create opportunities in the market.
• The report looks at the regional and global trends, key players, market segments, application areas, and strategies for market growth in the vitamin supplement market.