United States, Rockville MD, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global vitamin shots market is estimated at US$ 577.2 million in 2022 and is expected to expand at a CAGR of 4.9% during the forecast years of 2022-2032. The market is expected to grow mainly due to the remarkable advantages of vitamin shots over pills and capsules.
Vitamin shots are acknowledged as a medication used to treat vitamin deficiencies and related diseases and are being preferred over the injectable or oral route as a mode of delivery. As vitamin deficiency is a major concern among the global population, vitamin shots are the desirable solution for treatment as it has several advantages over pills and capsules. For instance, injectable vitamin shots let the body use 100% of the nutrients as they are administered directly into the bloodstream, while in the case of pills, most of the nutrients are lost during the digestive process. Moreover, the trend of veganism has given rise to vitamin deficiency, which ultimately creates huge demand for vitamin shots.
Manufacturers are trying to widen their applications in the cosmetics industry for the improvisation of skin as well as weight loss. As such, rising beauty concerns and the introduction of vitamin shots in the cosmetic industry are anticipated to create an enormous opportunity for manufacturers to proliferate the production capacity of vitamin shots.
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Key Takeaways from Market Study
- The global vitamin shots market is projected to expand at a CAGR of 4.9% and reach US$ 934.2 million by 2032.
- The market registered 3.6% CAGR for the period of 2017-2021.
- Under product type, vitamin B dominates the market and reached US$ 216.1 million in 2022.
- North America dominated the market with 31.7% market share in 2021.
- Together, vitamin D and vitamin C are likely to represent 44.6% market share in 2022.
- Based on region, demand for vitamin shots is expected to increase at CAGRs of 4.8% and 4.4%, respectively, in North America and Europe.
"Introduction of vitamin shots in the cosmetic industry is expected to reflect attractive near-term opportunities for market players," says a Fact.MR analyst.
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Market Development
Manufacturers of vitamin shots are trying to spread awareness about the advantages of vitamin shots over vitamin supplements. Also, market players are engaged in developing partnerships with healthcare as well as aesthetic professionals to increase their sales.
Industry players are also taking efforts to increase their customer base by focusing on diverse end users as well as regions. Moreover, market participants are focusing on expanding their product offerings by making R&D investments to offer safer versions of vitamin shots.
Competitive Landscape
Prominent vitamin shots manufacturers are House of Vitalounge, Bratz, Reviv, AdvaCare Pharma, Sriya, Zeon biotech, SKG Caring health, SwisscheM, Pfizer, Empower Pharmacy, Kexing Pharma, American Regent, McGuff Pharmaceuticals Inc.'s, Merck Animal Health, Boca Vitamin, Vitana X, and Bee & You.
Key manufacturers of vitamin shots are focusing on R&D investments to enhance the quality and safety of their products. Market participants are trying to build up relationships with healthcare as well as aesthetic professionals to enhance their consumer base across the world.
Also, market players are focusing on increasing awareness related to vitamin shots to elevate their sales growth.
- In February 2021, VitanaX, an international wellness company, enhanced its product line by launching vitamin shot drinks.
- In June 2022, BEE & YOU, an expert company in natural bee products, launched a vitamin C injectable shot, which is produced using organic certified bee products.
Segmentation of Vitamin Shots Industry Research
- By Product Type :
- Vitamin A Injection
- Vitamin B
- Vitamin B12
- Vitamin B complex
- Vitamin D Injection
- Vitamin C Injection
- Vitamin K Injection
- Vitamin E Injection
- Vitamin Mix Injection
- By Nature :
- Synthetic
- Natural
- By Delivery Medium :
- Injectable Vitamin Shots
- Oral Vitamin Shots
- By Consumption Type :
- Prescribed
- OTC
- Weight Management
- Health and Immunity Booster
- Skin and Hair Care
- Bone Support
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global vitamin shots market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (vitamin A, vitamin B, vitamin D, vitamin C, vitamin K, vitamin E), nature (synthetic, natural), delivery medium (injectable, oral), and consumption type (prescribed, OTC), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
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