Multivitamins

Vitamins and dietary supplements continued to perform well in 2016, posting current value growth of 5% to reach sales of US$27.6 billion. This performance was in line with the review period average. Demand for vitamins and dietary supplements remained positive in the US despite recent debates about the purity, health benefits and efficacy of these products. Due to high healthcare costs and an increased emphasis on preventative care, consumers are willing to spend on vitamins and dietary supplements in addition to their regular foods to maintain their health. Other factors, such as an aging population, increasing consumer engagement with health and wellness, new product launches and the improved accessibility of products through various distribution channels also supported category growth.

The vitamins and dietary supplements category remained very competitive in 2016, with no one company accounting for more than a 5% share of value sales. Vitamins and dietary supplements comprise a diverse range of products, and various types of companies are present, from large pharmaceutical manufacturers to packaged food and beverage players as well as private label and direct sellers. Manufacturers are continuously extending their brand portfolios across different categories, hoping to increase their share.

Vitamins and dietary supplements are expected to record a healthy value CAGR of 3% at constant 2016 prices over the forecast period to reach sales of US$31.7 billion in 2021. With an increased interest in healthy lifestyles, consumers will expand their consumption of vitamins and dietary supplements, particularly those targeted at systemic benefits like digestive health, immune system fortification, vitality, and longevity.