Vitamins - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Vitamins Market is accounted for $5.99 billion in 2020 and is expected to reach $12.20 billion by 2028 growing at a CAGR of 9.3% during the forecast period. Growth in demand for functional and nutritionally enriched processed food products, feed fortification due to rise in global meat & dairy product consumption and prevalence of vitamin deficiencies are driving the market growth. However, constrained supply of raw materials for natural vitamins coupled with high costs are hampering the growth of the market.
Vitamins are organic chemical compounds and an important nutrient for the working of metabolism in the human body that an organism demands in small amounts. Vitamins cannot be produced in the body, but it can be absorbed by supplements or food. Deficiencies and illnesses such as xerophthalmia, scurvy, and night blindness can lead in insufficient intake of vitamins. Intake of vitamins can keep the body in total control and healthy.
Based on the product, the vitamin B segment is going to have lucrative growth during the forecast period owing to factors like age, pregnancy, dietary choices, medical conditions, genetics, medication and alcohol use which increase the body’s demand for B vitamins.
By geography, Asia Pacific is going to have high growth during the forecast period due to the high focus of the market for vitamins in Asia Pacific is experiencing growth due to its growing application in the feed industry along with the rise in incomes, increase in purchasing power, and significant consumer demand for nutritional & healthy products.
Some of the key players profiled in the Vitamins Market include Unilever Group, The Procter & Gamble Co., Sanofi, Pfizer Inc., Nestlé SA, Lonza Group Ltd., DSM, Bluestar Adisseo Co. Ltd., BASF SE and Archer Daniels Midland Co..
• Water Soluble
• Fat Soluble
• Vitamin B
• Vitamin E
• Vitamin D
• Vitamin C
• Vitamin A
• Vitamin K
• Healthcare Products
• Food & Beverages
• Animal Feed
• Pharmaceuticals/Dietary Supplements
• Personal Care
Distribution Channels Covered:
• Online Retail
• Offline Retail
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2019, 2020, 2021, 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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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
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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