Vitamin Ingredients Market

According to Stratistics MRC, the Global Vitamin Ingredients Market is accounted for $7,502.01 million in 2022 and is expected to reach $11,195.50 million by 2028 growing at a CAGR of 6.9% during the forecast period. Vitamins are natural compounds found in food items such as fruit & vegetables, and eggs. It helps in basic development of essential nutrients and increase the metabolism of body. In addition, they help in the production of skin, muscle, bones, repair cells, & tissues and strengthen the immune system. Vitamin ingredients are obtained from natural sources such as plants, fruits, vegetables, and animals. These ingredients possess properties that are similar to vitamins that occur naturally. These vitamin ingredients provide instant nourishment and minimize the risk of contracting various disorders related to the eyes, heart, and others. Further, these vitamin ingredients lower the signs of aging and heatstroke. Thus, the vitamin ingredients are used in food and beverages, pharmaceuticals, and animal feed industries on a large scale.

In 2017, over 12 million children suffered from chronic malnutrition in China which indicates ample growth potential for vitamin market for food & personal care applications. According to World Health Organization (WHO), cardiovascular diseases are the leading cause of death across the globe and around 17.9 million people die per year due to cardiovascular diseases. In addition, unhealthy junk food diets contribute to more than 677,000 deaths every year in the U.S. leading to nutrition and obesity related diseases such as Type 2 diabetes, obesity, blood pressure, cancer, heart disease etc.



Market Dynamics:

Driver:

Rising concerns regarding vitamin deficiency

Vitamin deficiencies are the root cause of nutritional deficiencies across the globe. Deficiencies of various vitamins have been a cause of concern for public health agencies and health regulators. This has shown a significant growth trajectory for the vitamin ingredients market. The clinically unrecognized nature of vitamin deficiencies over the past few years has created lucrative opportunities for vitamin ingredients manufacturers. In the current scenario, the dietary reference intake values are being updated by various countries on a large scale. This has given scope to new therapies and formulations in the vitamin ingredient market. The growing efforts of healthcare systems are to identify and treat high-risk patients suffering from vitamin deficiencies. This aspect will open new avenues in the vitamin ingredients market shortly. This has been made possible by the growing diagnosis of vitamin deficiency.

Restraint:

Lack of awareness & stringent regulations

Lack of consciousness concerning dosage of dietary supplements along with probable toxic side-effects from overconsumption may restrain the market for food & personal care applications. Though, recent establishment of stringent labelling regulations such as the U.S. Dietary Supplements Health and Education Act (DSHEA) which empowers the FDA to check product health claims & hazards and other EU Directive which restricts the number & types of vitamins allowed for supplement manufacture could boost the global market for food & personal care applications.

Opportunity:

Health Benefits offered by vitamin ingredients

Health awareness among the masses has given rise to the demand for nutritional supplements such as vitamin ingredients. Consumers are keen on maintaining their health by consuming the proper amount of nutrition as required by the body. The growing geriatric population is prone to disorders due to vitamin deficiencies and faces a lot of issues related to age. Further, the direct consumption of vitamins in form of vitamin ingredients gives them instant energy. Thus, the vitamin ingredients market is accounted to witness exponential growth.

Threat:

Reductions in consumption of vitamin D due to introduction of advanced therapies

Rising cases of a medical condition allied with the extreme consumption of Vitamin D is projected to restrict the market growth of vitamin ingredients. High level of Vitamin D in the body can lead to Vitamin D toxicity commonly known as Hypervitaminosis D. Though it is rare, but the serious condition can result in a buildup of excess calcium in the blood which is also known as hypercalcemia. Therefore, excessive consumption of Vitamin D can cause serious medical conditions, this factor is expected to restrain the market growth. The advent of advanced therapies is presumed to reduce the consumption of Vitamin D, thereby hindering the market growth. In November 2016, a team constituting scientists and professors of Ewha Woman's University College of Medicine, South Korea has won a US$ 2.16 million government subsidy for their stem cell therapy research in which adult stem cells were extracted from the tonsils and regenerated into parathyroid cells which are crucial for producing hormones. Deficiency of hormones can cause Hypoparathyroidism disease which may result in low levels of calcium in the blood. Therefore, such development of advanced treatment is expected to restrict the consumption of Vitamin.

Covid-19 Impact

The COVID-19 pandemic has affected almost every aspect of the food and beverage industry throughout the supply chain. World Health Organization (WHO) studies found that vitamin D levels can help the immune system fight COVID-19. In addition, many studies have shown that vitamin supplements may serve as a prophylactic or therapeutic agent for COVID-19. Therefore, the consumption of dietary supplements containing vitamin components is increasing rapidly during the COVID-19 epidemic.

The vitamin E segment is expected to be the largest during the forecast period

The vitamin E segment is estimated to have a lucrative growth, as it is exceptionally beneficial as far as skin and nutrition problems are concerned. As per medical experts, the vitamin helps in cholesterol balance, skin repair, reduced cancer risk, prevention of free radicals, and promotion of muscle strength. The robust expansion of vitamin E market can also be credited to the escalating healthcare costs and the rapidly rising geriatric populace, especially across the U.S. and Japan. Given that the elderly are more susceptible to the problems of muscle loss and bad cholesterol, it goes without saying that vitamin ingredients market share for food & personal care applications from vitamin E is bound to observe a remunerative growth potential in the years ahead.

The animal feed segment is expected to have the highest CAGR during the forecast period

The animal feed segment is anticipated to witness the fastest CAGR growth during the forecast period. Vitamins are extensively utilized in the manufacture of animal feed and premixes to ensure the proper health of animals and the quality of products. The demand for feed supplements is increasing due to the rising costs of raw feed and the growing demand for high-quality cattle products such as milk and meat from developing and developed countries. With the growing demand for vitamins A, D, and E in the poultry industry, this segment will witness high growth in the coming years.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising health concerns among the growing population, the high rate of adoption of vitamin ingredients in the food service companies, animal feed and pharmaceuticals in Asia Pacific, the increase in population of India, China, and Indonesia, and high risk of diseases and health issues among the aging population in Japan due to a lack of vitamin supply in the diet. The Asia-Pacific countries have seen a surge in patients suffering from vitamin deficiency, which has led to rise in demand for vitamin capsules, syrups, and other powder forms. Moreover, increase in disposable income of consumers and broad distribution channels have fueled the market growth in the Asia-Pacific region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to growing inclination toward a healthier lifestyle, coupled with rising consumer health concerns regarding chronic diseases in developed markets, increase endurance, improve muscle strength, and reduce fatigue, growing population, and rise in demand for vitamin-based food and drugs. Moreover, rapidly aging population along with increasing demand for low calorie dietary products for reducing obesity may stimulate industry growth in the region. Favorable policies regarding acceptance of organic personal care products by health & safety regulatory bodies may further stimulate regional market growth.

Key players in the market

Some of the key players profiled in the Vitamin Ingredients Market include Archer Daniels Midland Company, Nestlé S.A., Atlantic Essential Products, Inc., Abbott Laboratories, AIE Pharmaceuticals, Inc, E. I. du Pont de Nemours and Company, Pfizer Inc., Lonza Group, Amway, BASF SE, Bluestar Adisseo Company, The Wright Group, Koninklijke DSM N.V., Groupe Danone, Glanbia plc, Bactolac Pharmaceuticals, Inc., Rabar Pty Ltd., and Btsa Biotecnologías Aplicadas S.L.

Key Developments:

In June 2019, Pfizer and Array BioPharma announced their final merger. Pfizer's future revenue is projected to be considerably boosted by Array's extensive pipeline of targeted cancer therapies in development, as well as its portfolio of potentially best- and first-in-class medicines.

In January 2019, DSM (Netherlands) and Zhejiang Xinhecheng Co., Ltd. (China) signed a settlement for selling and buying cholesterol. Cholesterol is used to provide nutrition D3. This settlement could assist the organization to grow its universal potential and productiveness of Vitamin D.

Forms Covered:
• Powder
• Tablets and Capsules/Solid
• Liquid

Types Covered:
• Vitamin K
• Vitamin E
• Vitamin D (Vitamin D3)
• Vitamin C
• Vitamin B
• Vitamin A

Sources Covered:
• Synthetic
• Natural

Soluble Types Covered:
• Fat-Soluble Vitamins
• Water-Soluble Vitamins

Applications Covered:
• Processed and Packaged Food and Beverage
• Cosmetics & Beauty
• Animal Feed
• Pharmaceuticals
• Personal Care Products
• Feed Additives
• Healthcare Products
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:
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o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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