Vitamins and Dietary Supplements Industry Procurement Intelligence 2020-2025 | Rising popularity of vitamins and dietary supplements; with Powder is…

The global vitamin and dietary supplements market is expected to exhibit a CAGR of 4.9% from 2020 to 2025 with capsules and tablets being the most consumable dosage form of supplements. Powder is expected to emerge as the fastest-growing dosage form from 2020 to 2025 with a projected CAGR of 6.4% from 2020 to 2025.

Vitamins and Dietary Supplements Industry Category Intelligence

Multivitamins have been traditionally used as supplements along with diet to improve nutritional qualities and lower health problems, like osteoporosis and arthritis. With the onset of COVID, there has been a public notion that vitamins could reduce the severity of symptoms (although it is not a cure) for COVID. Manufacturers of multivitamins are capitalizing on this and the demand for multivitamins has increased since 2020. Overall, thevitamins and dietary supplements marketis expected to expand at a CAGR of 4.9% from 2020 to 2025. However, as time progresses, these myths have been debunked by several studies. For example, NCBI has published articles stating that CBD-based supplements are not a cure for coronavirus or any other maladies caused due to the infection of coronavirus.

One of the recent trends witnessed in the market is the entrance of vitamin and dietary supplement manufacturers into the food and snacks business. For example, Chinese dietary supplement provider BY-HEALTH is investing in product diversity and is segregating its products between food and snacks with light functionalities and supplements with strong functionalities. Protein bars have become the choice of snack for such dietary supplement suppliers. The company, by the end of 2020, has received filing approvals for 112 health foods and registration approvals for over 140 health foods.

Vitamins and Dietary Supplements Industry Category Intelligence Highlights:

Grab your copy, or request for a free sample of the Vitamins and Dietary Supplements Industry Procurement Intelligence Report, published by Grand View Research for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies

Vitamins and Dietary Supplements Types

Vitamins and Dietary SupplementsIndustry Supplier Intelligence Capability based ranking & selection criteria with weightage:

Operational Capabilities Weightage

Functional Capabilities Weightage

By Form (45%)

By manufacturer type (35%)

Other services offered by manufacturer (20%)

Vitamins and Dietary Supplements Industry Cost Intelligence Highlights:

Grand View Research has identified the following key cost components for availing vitamins and dietary supplements manufacturing:

List of Key Suppliers in the Vitamins and Dietary Supplements Industry

Add-on Services provided by Grand View Research Pipeline:

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

In the vitamins and dietary supplements procurement intelligence study, we have estimated and forecasted pricing for the key cost components. Raw materials are the largest cost component of vitamin and dietary supplements manufacturing cost. It accounted for more than 50% of the share in the overall cost of manufacturing. Raw materials include the combination of Vitamin A to Vitamin K. Among these, Vitamin A and Beta Carotene hold the major cost share of 9% and 7% respectively. The price of Vitamin A is expected to fluctuate during the period of forecast, continuing its trend from 2015. Whereas, Beta Carotene price is expected to remain stable in the next five years.

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

The dosage form is one of the most important aspects while analyzing the rate benchmarking of multivitamins and supplements. In our research, we have analyzed the rates of vitamin A in three major types of the dosage form; solid (Tablets and capsules), liquids and powders. By using rate benchmarking analysis, we found that solid forms of multivitamins are ~50% more cost-effective than liquid and powders. Solid forms also have longer shelf life than the other two dosage forms. Therefore, most of the multivitamin and supplements manufacturers allotted more than 60% of the overall production capacity to produce multivitamin tablets and capsules. Only 20% of the production line is used for liquid and powder supplements production.

To gain a comprehensive understanding of the other aspects of rate benchmarking, please subscribe to our services for the complete report.

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Our research indicates that Nestl production managers earn 40%-50% higher salaries than production managers from other key competitors like Amway, GlaxoSmithKline. However, the YoY increment rate in such companies largely depends on KRAs.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

It is cumbersome for any organization to continuously track the latest developments in their supplier landscape. Our newsletter service helps them remain updated, to avoid any supply chain disruption which they may face, and keep a track of the latest innovations from the suppliers. Outsourcing such activities help clients focus on their core offerings.

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization.Pipeline division at Grand View Researchprovides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.

Our services include (not limited to):

Sourcing / Procurement Intelligence best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Browse throughGrand View Researchs collection of procurement intelligence studies:

Contract Research Organization Market Procurement IntelligenceThe global CRO market is expected to witness sustainable growth (CAGR of 6.4%) from 2020 to 2025 due to the increasing global need for drug development and investments by pharma giants in R&D, owing to the patent expiration of blockbuster drugs.

Sugar Processing Market Procurement IntelligenceThe global sugar processing market was valued at 166 million MT in 2020 and it is expected to grow at a CAGR of ~2% from 2021 to 2027 to cross 200 million MT in terms of volume in 2027. The growth of the market is majorly driven by the high demand generated from the food and beverages industry.

Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/pipeline/vitamins-dietary-supplements-market-procurement-intelligence-report

See more here:

Vitamins and Dietary Supplements Industry Procurement Intelligence 2020-2025 | Rising popularity of vitamins and dietary supplements; with Powder is...