Across the globe, industry players must constantly cater to the ever-changing needs of consumers due to their busy lifestyles and changing preferences. These consumer demands have spurred the development of numerous vitamin products that offer functional benefits to combat everyday consumer stresses. These innovative vitamin products provide added convenience to consumers with busy lifestyles and non-traditional vitamin preferences, fueling the growth of the global and South African vitamin industry.
Insights Research latest South African Vitamin Industry Outlook Report 2024 Discover carefully Global and regional vitamin marketsBased on the latest information and research, it covers key global and regional market trends, innovations and technologies, drivers, and challenges to present an objective insight into the South African Vitamins market landscape and its future.
Globally, the vitamin supplements market is estimated to be worth approximately $48.4 billion in 2023. Furthermore, the value of the global vitamin supplements market is projected to grow at a compound annual growth rate (CAGR) of 6.8% to reach approximately $87.5 billion by 2032, as shown in the graph below.
In South Africa, the local vitamins market achieved a robust year-on-year growth of 7.6% at current prices from 2022 to 2023. Moreover, the market is expected to continue its robust growth at a CAGR of 7.8% over the forecast period 2024-2028.
The vitamin market is experiencing growth both globally and regionally due to the increasing demand for diverse functional vitamin products and the introduction of new products to meet this demand. These products offer specific health benefits beyond basic nutrition and effectively aim to address specific health concerns and deficiencies. These latest functional vitamin products also offer improved absorption and on-the-go convenience, attracting people who do not usually use traditional vitamin products.
Globally, functional brain health vitamin products targeting cognitive and brain health areas such as stress and mental function are rapidly growing in popularity. For example, Bioglan Superfoods recently launched its Brain Boost Mental Performance Vitamin product, which contains vitamins B5, B6 and B12, designed to boost energy, focus and mental clarity. Additionally, women’s health brand O Positiv launched its Essentials supplement series, which includes Iron + Vitamin C products that have been suggested to boost energy production, immune function and neurological health.
In the South African market, the focus on functional vitamin products is reflected in local brands. For example, Vital Health Foods, a leading South African vitamin and health supplement manufacturer, announced the expansion of its product line with three new functional products: Vital Energy and Focus Adult Gummies, Vital Calm and Relax Adult Gummies and Vital Radiant Skin Adult Gummies. These products are designed to support energy and mental performance, the nervous system, and skin and hair.
Additionally, making its South African debut, The Patch brand has launched five new non-tablet functional vitamin products delivered in the company’s signature patch format. These products aim to support everyday stressors and include the Sleep Vitamin Patch, Stress Relief Vitamin Patch, Focus Vitamin Patch, Energy Vitamin Patch and Immunity Vitamin Patch.
Additionally, Procter & Gamble’s vitamin brand, Voost, also entered the South African market in 2023 with a range of dissolvable functional vitamin tablets including 10 new variants. The range includes Voost Performance, Voost Multivitamin, Voost Mega B Complex, Voost Vitamin C and Voost Vitamin D, among others.
of South African Vitamin Industry Outlook Report 2024 (page 122) provides a dynamic synthesis of industry research, Regional and Global Vitamin Industry With a unique holistic perspective, it provides detailed insights across the value chain including market size & forecast, industry trends, latest innovations and technologies, key drivers and challenges, trends, innovations and technologies, industry drivers and challenges, manufacturer/distributor overview, retail and pricing analysis.
This report helps answer several important questions:
- What are the key market trends in the global and South African vitamins industry?
- What are the latest trends, innovations, technologies, drivers and challenges in the vitamin industry globally and in South Africa?
- What are the market value and volume trends (2019-2023) and forecast (2024-2028), as well as channel distribution, in the South African Vitamins market?
- Which are the major manufacturers, distributors and retailers in the vitamins industry in South Africa?
- What is the latest corporate news from major companies in terms of products, product launches, and marketing activities?
- How much do popular vitamin brands cost in South African pharmacies and retail stores?
The 122-page report can be purchased for R40,000.00 (excl. VAT) or individual sections can be purchased for R17,500.00 (excl. VAT).
For more information, please email az.oc.yevrusthgisni@ofni or call our Cape Town office on (021) 045-0202 or our Johannesburg office on (010) 140-5756.
For the full brochure please see: South African Vitamin Industry Outlook Brochure 2024
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