Vitamin In Human Nutrition Market Size, Share, Growth Analysis, By Type(Multivitamin, Vitamin A), By Application(Dietary Supplements, Functional Nutrition), By End use(Adults, Geriatric), By distribution channel(OTC and Prescription) - Industry Forecast 2024-2031

Vitamin In Human Nutrition Market Driver

The Rise of Higher-Income Middle Class In Emerging Markets

• The rise of a high-income middle class in emerging vitamin in human nutrition market is expected to drive the growth of the global human nutrition market. By the end of 2018, there were 679 million middle-class households in emerging countries, a figure that is expected to expand by 2.7% by 2030. In comparison, the number of middle-class households in developed countries was 176 million in 2018 and is expected to increase by 6.3% by 2030. Between 2019 and 2030, the number of households in developing countries with an annual disposable income of USD45,000-100,000 Purchasing power parity (PPP) is expected to rise by 5.6% per year on average, far outpacing the 1.2% annual growth expected for the total number of households. Their spending is expected to rise at a 6.9% annual rate in real terms through 2030, outpacing the 1.9% annual real spending growth forecast for households earning USD15,000-45000 (PPP

Vitamin In Human Nutrition Market Restraint

Raw Material Availability And Cost

• The price of a supplement can vary greatly depending on its ingredients' origin (synthetic or natural) and season. Synthetic ingredients have lower production costs and eliminate the need to manage natural sources from which the functional principles are to be extracted. However, synthetic raw materials cannot match the quality of natural raw materials. Another factor that can affect the final cost of dietary supplements is the bioavailability or seasonality of the raw materials used in the products. Furthermore, most natural ingredients are not available all year, or their prices may rise during certain months; these issues affect the cost of manufacturing a supplement. Ingredients produced after years of research and economic investment to provide substances of higher quality, efficacy, and absorption rate than those currently on the market will most likely be more expensive