Vitamin tonics help in strengthening and invigorating the body tone of an individual. These tonics are used to prevent and treat several deficiency conditions such as rickets, osteomalacia, angular stomatitis, and anemia. The tonics are available in several formulations such as syrupy semisolids, liquids, capsules, tablets and pills, and multivitamin injections. However, the liquid tonics are more popular due to higher patient compliance and acceptance amongst the children. The physicians prescribe these products in vitamin deficiency anemia such as folate deficiency anemia, pernicious anemia and vitamin C deficiency anemia. Another significant reason for increasing demand of these products is hectic lifestyle of people across the globe. People tend to compensate their poor dietary habits and lack of exercise by having regular intake of vitamin tonics. Therefore, the global market for the vitamin tonics is witnessing an increasing consumption of these products worldwide. The major vitamins formulated into vitamin tonics include vitamin B, vitamin C, vitamin D, multivitamin formulations, probiotics and ginseng. There is an increasing demand for multivitamins instead of purchasing single vitamin products. This has lead vitamin B complex tonic to be the most popular and widely distributed product in the market which contains combination of several vitamins such as B1 (thiamine), B2 (riboflavin), B3 (niacin), B5 (pantothenic acid), B7 (biotin), B9 (folic Acid), and B12 (cobalamin). Vitamin D tonics are also in demand as physicians recommend these products in arthritis and other bone disorders.
Vitamin Tonics Market: Drivers and Restraints
Globally people are more aware about their health and brands are capitalizing on this factor. Increased awareness about wellness and fitness has increased the consumer base for the overall vitamin tonics market. This products are generally available without any prescription which makes them easily accessible to general public who are willing to consume it as health supplement without any medical condition. Increase in global geriatric population is also fueling global market for vitamin tonics market.
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Vitamin Tonics Market: Segmentation
Vitamin tonics market is classified on the basis of indication, distribution channel and geography.
Based on the product type, theglobal vitamin tonics market is segmented into the following:
- Multivitamin injections
Based on the distribution channel, the global vitamin tonics market is segmented into the following:
- Hospitals Clinics
- Public Hospitals
- Private Clinics
- Retail Pharmacies and Drug Stores
Vitamin Tonics Market: Overview
Globally, the vitamin tonics market is realizing an astonishing rise due to increasing tendency of people towards spending for preventive measures rather than treating the sickness later. Therefore, increasing awareness about health and wellness among the general public, highly affordable products promises a better and prosperous outlook in the market. The market leading companies are spending heavily in educating people about the benefits of vitamin tonics which is expected to have positive impact on growth of the market. The increasing regulations on the tonics under the Dietary Supplement Health and Education Act (DSHEA) of 1994 and New Dietary Ingredient (NDI) guidelines have restricted the entry of smaller companies into the market. Furthermore, the rising interest of pharmaceutical companies in the nutraceuticals segment will make the existing vitamin tonics market more competitive and standardized in terms of quality assurance. For instance, Procter & Gamble (P&G) recently purchased Brattleboro Vermont based New Chapter, Inc., added a FMCG giant into vitamin tonics market making the competition fiercer than ever.
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Vitamin Tonics Market: Region-wise Outlook
On the basis of geography, the global vitamin tonics market is segmented into seven regions as North America, Europe, Asia-Pacific, Japan, and MEA. The U.S. market for the vitamin tonics is growing albeit with slowed growth due to consumer questions about the actual benefits of the products and several studies indicating that a large number of companies are simply selling placebos with minute quantities of actual vitamins. Therefore, dominance of North America into global vitamins market is being challenged by developing regions such as Asia, Latin America and Africa. The market in emerging geographies is growing at a rapid pace owing to rising middle class in countries such as China and India.
Vitamin Tonics Market: Key Players
Some of the players in the global vitamin tonics market include Amway, Abbott Laboratories, Albert David Ltd., Vitabiotics Ltd., Seven Seas(a company of Merck KGaA), Sapiens Pharmaceuticals Ltd., Vitane Pharmaceuticals, Inc., Tonic Vitamins, New GPC, Inc., Raptakos Brett & Co. Ltd., Fitzory International Ltd., Lloyds Pharmacy, Cerebos Ltd, Scotch Industrial Thailand Co. Ltd. among others.