Global Prenatal Vitamin Supplements Market: Snapshot
A majority of women worldwide complain deficiency of certain vitamins during pregnancy. These nutrients are imperative for proper fetal development and are required before, during, and post conception for the lactation period. Also referred to as prenatal vitamins, they are available in the form of artificial supplements, however, should be consumed as recommended by the doctor. The rising incidents of birth defects such as congenital heart disease, Down syndrome, cleft lip and cleft palate, club foot, phenylketonuria, and Edward’s syndrome has fueled the demand for prenatal vitamin supplements around the world. Besides this, growing awareness about the same and the recent advancements in the healthcare technology have created an environment conducive to growth of the prenatal vitamin supplements market.
Spurred by the aforementioned factors, the global prenatal vitamin supplements market is forecast to reach US$561.0 mn by 2024, from US$291.2 mn in 2015. If these figures hold true, the overall market will exhibit a CAGR of 7.7% between 2016 and 2024.
Drug Stores to Remain Most Preferred Distribution Channel
The global prenatal vitamin supplements market include capsule, powder, and gummy based on dosage. Of these, the capsule segment held dominance in the global prenatal vitamin supplements market in 2015. Capsules have a longer shelf-life compared to its powder and gummy counterparts and are thus preferred more by doctors. Moreover capsules get easily disintegrated by gastric juices and are thus likely to remain the most liked variant through the forecast period. Furthermore, the advent of recent technologies enabling easier method of filling capsules with different dosage forms such as liquids, powders, and pellets, the demand for the same is expected to remain high even in the forthcoming years.
Based on distribution channel, hospital pharmacies, online pharmacies, supermarkets, and drug stores are key market segments. Of these, with a share of nearly 53.1% in the market, drug stores emerged as the dominant segment in 2015. Compared to other distribution channels, drug stores offer the convenience of interacting directly with customers to clarify their doubts if they have any. This has played a major role in gaining increased traction towards the segment. While drug stores are forecast to remain dominant through the forecast period, the demand for other distribution channels will also gain pace gradually in the coming years.
Asia Pacific to Emerge as Most Lucrative Regional Market in Future
Regionally, North America, Europe, Asia Pacific, Latin America, and the MEA have emerged as the key markets for prenatal vitamin supplements. Among these regions, North America emerged as the most attractive market. It boasts a high degree of awareness among consumers, besides which North America also has the distinction of being one of the earliest adopters of the latest technologies. Spurred by this, experts have predicted the North America market to remain the leading segment through the forecast period. While it held the dominant share of 41.2% in the global .market in 2015, it is Asia Pacific, which is likely to exhibit the highest CAGR during the forthcoming years.
The hectic lifestyle of most people, especially women across the emerging nations in Asia Pacific has led to the rise in lifestyle diseases such as hypothyroidism. This lifestyle diseases
lead to deficiency of vitamins and minerals inside the body which can be insufficient for the proper growth of the baby during pregnancy. This has augmented the demand for high quality prenatal vitamin supplements. The prenatal vitamin supplements market in Latin America is projected to expand at a significant CAGR during the forecast period due to deficiency of proper diet because of improper eating habits.
Major players operating in the prenatal vitamin supplements market includes Garden Of Life Inc., Country Life LLC., Rainbow Light Nutritional Sytems Inc., Church & Dwight Co., Inc., Biotics Research Corporation, MegaFood, Metagenics, Inc., New Chapter, Inc., Pharmavite LLC., Twinlab Corporation, Abbott Nutrition, and Matsun Nutrition.
Global Prenatal Vitamin Supplements Market: Overview
Prenatal vitamins are the mineral and vitamin supplements used by during their pregnancy for the healthy development of the fetus. Prenatal vitamins are also recommended by doctors before conception and post conception lactation period. These vitamins are like other common man multivitamins but with different concentration of vitamins and some special vitamins required during pregnancy. Most of these vitamins are prescribed as regulated by U.S. FDA and other countries regulatory authorities. These vitamins are not the substitute of healthy diet required by women during conception but are needed for extra vitamin requirements for the growth of the fetus. This report studies the current scenario as well as future market potential for prenatal vitamin supplements globally. This report provides an elaborate executive summary, which includes the market snapshot that provides market dynamics of various segments and sub-segments that are included in the report in a precise manner.
Global Prenatal Vitamin Supplements Market: Scope of the Report
This report provides in-depth analysis of the prenatal vitamin supplements market. The stakeholders for this report include companies involved in the manufacturing of prenatal vitamin supplements, companies providing raw material for manufacturing prenatal vitamin supplements, and companies providing equipment for manufacturing. . For providing the snapshot of the market to stakeholders, an executive summary section has been included in the report, which mainly summarizes the market trends, competition and size of different regions.
The report provides market estimation of prenatal vitamin supplements market in terms of revenue (US$ Mn) for all the segments and sub segments with CAGR % for period 2016 to 2024, considering 2015 as the base year. The report also provides the volume of prenatal vitamin supplements products for all the segments and sub segments with CAGR % for period 2016 to 2024. Furthermore, the report incorporates market attractiveness analysis by geography category that depicts the most attractive region in the global market during the forecast period from 2016 to 2024.
The market overview section of this report analyzes market dynamics such as drivers, restraints and opportunities that influence the prenatal vitamin supplements market in the current and future scenario. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the prenatal vitamin supplements market. All these factors will help the market players to decide about the business strategies and plans to be incurred in future for strengthening their position in the global market.
Global Prenatal Vitamin Supplements Market: Segmentation
The prenatal vitamin supplements market has been segmented based on dosage form, distribution channel, and geography. Based on dosage form, the global prenatal vitamin supplements market has been segmented into capsules, powders and gummy. Based on distribution channel, the global prenatal vitamin supplements market has been segmented into hospital pharmacies, online pharmacies, supermarkets, and drug stores.
Geographically, the prenatal vitamin supplements market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Moreover, analysis for the major countries comprising U.S. Canada, Germany, U.K., Japan, China, Brazil, Mexico, UAE and India have also been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the prenatal vitamin supplements market in various regions has been provided in this section.
Companies Mentioned in the Report
This report also includes recommendations section that will assist new companies in establishing their presence and market players in expanding their market share in the prenatal vitamin supplements market. The report concludes with the company profile section which includes company overview, financial overview, product portfolio, business strategies and recent developments for market players. The major players that are profiled in the report include Garden Of Life Inc., Country Life LLC., Rainbow Light Nutritional Sytems Inc., Church & Dwight Co., Inc., Biotics Research Corporation, MegaFood, Metagenics, Inc., New Chapter, Inc., Pharmavite LLC., Twinlab Corporation, Abbott Nutrition, and Matsun Nutrition.
The global prenatal vitamin supplements market has been segmented into:
- Global Prenatal Vitamin Supplements Market, by Dosage Form
- Global Prenatal Vitamin Supplements Market, by Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Drug Stores
- Global Prenatal Vitamin Supplements Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Rest of MEA
- North America