Industry News
The expansion of the complex vitamin market and increasingly fierce competition
Market size of complex vitamins
Global market size: The global multivitamin market size in 2022 is approximately $11.7 billion, and is expected to grow to $15.3 billion by 2027. This shows the steady growth trend of the global market for complex vitamins.
Market size in China: As one of the most populous countries in the world, China is also an important consumer market for complex vitamins. According to data on the market size of composite vitamins, the market size of composite vitamins in China will be approximately 11 billion yuan in 2022, and it is expected to reach 16 billion yuan by 2025.
Market Analysis of Compound Vitamins
Improvement of health awareness: As people's attention to health and nutrition increases, the demand for vitamins is also increasing. Complex vitamins, as a convenient supplement, can provide multiple vitamins to meet the human body's demand for vitamins, making them highly popular among consumers.
Unbalanced dietary habits: Modern lifestyles and dietary habits often lead to imbalanced nutritional intake. The popularity of fast food, processed foods, and beverages has led to people consuming too much sugar, fat, and salt, while insufficient intake of vitamin rich foods such as vegetables and fruits. Therefore, multivitamins have become a choice for supplementing nutrients.
Population aging: With the intensification of the trend of population aging, the demand for vitamins among the elderly is also increasing. Due to factors such as decreased physical function and decreased appetite, elderly people often find it difficult to consume sufficient vitamins, making multivitamins a choice to meet their nutritional needs.
Market competition and brand diversity: The complex vitamin market is fiercely competitive, with many different brands and products to choose from. The market size of complex vitamins indicates that various brands compete for market share through advertising, product innovation, and marketing strategies. Consumers can choose suitable multivitamin products based on their own needs and preferences.
Regulations and regulation: The market for complex vitamins is influenced by national and regional regulations and regulations. There may be differences in the standards, formulas, and marketing requirements for complex vitamins among different countries and regions, which poses certain challenges to the production and sales of enterprises.
Looking ahead, with the popularization of the Internet and the development of e-commerce, more and more consumers are choosing to purchase complex vitamin products online. The rise of internet sales channels has provided a broader sales channel for the complex vitamin market, while also facilitating consumer purchases.
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