The Multivitamin Drinks Market is projected to grow at a CAGR of around 6.8% during the forecast period, i.e., 2022-27. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The market is primarily driven by the growing prevalence of lower absorption levels of nutrients among people, promulgating the demand for multivitamin supplements in numerous forms. Since consumers find beverages the most convenient mode of consumption, multivitamins drinks are gaining traction globally.
Another prominent factor stimulating the Global Multivitamin Drinks Market growth is skyrocketing demand for immunity booster products in all age groups, particularly among the geriatric population. Besides, the growing health consciousness among people & their inclination toward multivitamin drinks to attain the nutritional requirements of the body is also stimulating the industry and generating growth opportunities for the players to increase their production & distribution capacities to cater to the rising demands across locations.
According to the World Health Organization (WHO), the global burden for the nutrient deficiency-related disease is approximately 2 billion. Around 45% of deaths among children under five years of age are linked to undernutrition, mostly in low & middle-income countries. Meanwhile, regular intake of energy drinks and multivitamin supplements is associated with elevated plasma vitamin B6 levels in post-bariatric patients.
Moreover, a rapid shift in consumer preference for vegan products encourages manufacturers to switch to green sources, further contributing to market expansion. Furthermore, extraction from organic sources has made multivitamin drinks even more popular among consumers seeking eco-friendly products. Nonetheless, constant technical advancement in healthcare sectors paired with government initiatives to tackle undernutrition is also positively influencing the market trajectory across the world.
Exploring the Market Dynamics: What’s Driving the Growth of Multivitamin Drinks Market?
Escalating Demand for Beverages with High Nutrient Contents: Backed by the high prevalence of an extensive range of energy drinks, sports drinks, & juice concentrates, among others, fortified with several nutrients, including vitamins & minerals, the multivitamin drinks market is set to witness an upswing in demand during the forecast years. Moreover, growing awareness regarding a balanced diet enriched with vitamins & minerals, accompanying higher disposable income, are the other prominent factors driving the market globally through 2027.
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Key Takeaways from the Market Study:
- Historical Data: 2017-20
- Base Year: 2021
- Forecast Period: 2022-27
- CAGR (2022-2027): 8%
- Key Players to Watch: Biorite Nutritionals, Passion4Life, Mary Ruth Organics, The Coca Cola Company, Pepsico Inc., Rita Foods & Drink Co. Ltd, Nestle S.A., Otsuka Pharmaceuticals Co. Ltd., My Drink Beverages, Danone, Nectar, My Vitamins, Ample, Krynica Vitamin, Ocean Beverages are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Multivitamin Drinks Industry:
- Recently, Nestlé acquired the brand Nuun, which primarily deals in healthy sports hydration products intended for athletes and fitness enthusiasts. With such an acquisition, the company seeks to realize its vision of becoming a powerhouse in functional drinks.
- Likewise, Krynica Vitamin, one of the largest Polish producers of non-alcoholic and low-alcohol beverages, signed a new contract of PLN 10 million with an American partner to expand the services to the European market. In fact, the company already made its first order to the Australian market this year. Last year, the company decided to expand by making a substantial investment of around PLN 38 million.
- Mary Ruth, one of the key manufacturers of Multivitamins, has introduced a nutritional drink, namely Liquid Morning Multivitamin, that includes amino acids, minerals, and multiple essential vitamins for revitalizing the body.
- Another product by Mary Ruth named Liquid Morning Multivitamin Essentials+ claims to have necessary vitamins & added minerals and comes with a blend of fruits like elderberry, providing a boost to the immune system.
Market Segmentation of Multivitamin Drinks Industry
The Multivitamin Drinks market is segmented as follows:
- By Type
- Sports Drink
- Milk/ Milk Shakes
- Fizz Drinks
- Others (Juices, Energy Drink, etc.)
- By End user
- Below 18 Years
- 18.1-40 Years
- 40.1-60 Years
- Above 60 Years
According to report, the rechargeable segment holds a larger share of the Global Multivitamin Drinks Market mainly due to their lower costs.
- By Application
- Medical
- Sports
- Fitness
- Lifestyle Consumers
- By Distribution
- Pharmacy
- Super Market/ Hyper Market
- Conventional Stores
- Online Stores
- Others (Specialty Stores, Outlet Retailer, etc.)
According to reports, offline retail holds the largest market share.
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Multivitamin Drinks Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Multivitamin Drinks Market
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