The global maternity vitamins and supplements market is expected to cross $441 million by 2023.
The increasing incidence of chromosome abnormality, down’s syndrome, congenital heart defect, and inherited metabolic disorders have made parents inclined toward medications and supplements that will reduce the risk of prenatal defects. Thus, the demand for maternity vitamins has increased globally.
Maternity Vitamins Market Size in Revenue
The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information about some of the latest trends that are likely to become strong market driving forces over the next five years. It also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
Vendors are focusing on merger and acquisition to increase their prominence
Vendors are focusing on mergers and acquisitions to increase their presence in the regions, mitigate the loss of patent protection, and achieve high economies of scale.
Key Companies in the Market are as Following:
Other prominent vendors in the market are Abbott Nutrition, Biotics Research Corp., Country Life, Fairhaven Health, Matsun Nutrition, Nurture, Nature’s Plus, Metagenics, Otsuka Holdings, Solgar, Twinlab, and Ultra Laboratories.
Introduction of vitamins in gummy, liquid, gel, and other forms to boost the market
Increased prevalence of vitamin and nutrient deficiencies among adults globally, and high demand from developing regions are the major factors that are driving the market. Introduction of new prenatal vitamins in different forms such as gummy, liquid, gel, and others, and increased sales through online channels are the leading trends and opportunities that will drive the market growth.
Prenatal vitamins will dominate the market
The prenatal vitamins segment will dominate the global market with more than 86% market share and is expected to grow tremendously during the period 2016−2023. The demand for prenatal vitamins is increasing, especially in the developing countries due to increased awareness about vitamins during pregnancy through various government initiatives and healthcare personnel on prenatal vitamins.
The awareness on postnatal vitamins is low even in developed regions such as North America. However, it is expected that during the forecast period, the awareness about postnatal vitamins will increase.
North America to remain the dominant market
North America has the largest market share of maternity vitamins and supplements market. Although birth rates are declining in the region, the penetration of vitamins and supplements is high in the region. The demand is expected to increase steadily in Europe. Prenatal vitamins will dominate the market in Europe, followed by post-natal vitamins. Awareness on prenatal vitamins has increased among women in APAC. As APAC is expected to be the fastest growing maternity care market, the demand for maternity vitamins is also expected to increase in the region.
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