Transparency Market Research has published a new market report titled “Global Vitamin Ingredients Market (By Type – Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K), by Application (Pharmaceuticals, Processed and Packaged Food and Beverage, Cosmetics, Animal Feed, and Others), and by Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2025”. In terms of revenue, the global vitamin ingredients market was valued at US$5,361.7 Mn in 2015, and is expected to reach US$8,194.7 Mn by 2025, increasing at a CAGR of 4.9% from 2017 to 2025 and in terms of volume, the global vitamin ingredients market was valued at 44,746.0 Tons in 2016, and is expected to reach 63,512.4 Tons by 2025, increasing at a CAGR of 4.0% from 2017 to 2025.
The global vitamin ingredients market is segmented by region into: Europe, North America, Asia Pacific, Latin America and Middle East and Africa. In terms of revenue, Asia Pacific dominated the global vitamin ingredients market in 2016, followed by North America, Europe,Latin America, and Middle East and Africa. Global vitamin ingredients market can be segmented by type into Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K. Additionally, the global vitamin ingredients market can be segregated by application intopharmaceuticals, processed and packaged food and beverage, cosmetics, animal feed, and others. Increase in adoption of vitamin-based substitutes such as vitamin supplements, and improved functional properties, are heavily driving the growth of the global vitamin ingredients market.
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The market for food that are useful for providing health benefits due to the presence of various vitamin components is expected to proliferate untapped marketsduring the forecast period. Aging demographics, increase in vitamin-deficiency diseases, consumer interest in self-care, and increasing healthcare awareness are some of the factors that are expected to drive the overall vitamin ingredients market.Expansion of the global food industry as well as increased use of vitamin ingredients in animal feed has resulted into higher volume requirement of vitamin ingredients.
Sunlight is the major source of vitamin D. In regions devoid of direct sunlight for most part of the year, such as the U.K. and other European countries, there is an increasing prevalence of vitamin D deficiency in these regions. Owing to this factor, consumers in these regions are opting for vitamin D supplements, and other pharmaceutical and food that contain high amount of vitamin D. Therefore, vitamin D is the main factor for fueling the growth in this region, thereby augmenting the overall growth of the vitamin ingredients market.
Asia Pacificheld the maximum market shareof the global vitamin ingredients market. The vitamin ingredients market in this regiondominated the global vitamin ingredients market due to the increasing population, rising health concern, and growing number of vitamin deficiency diseases. Asia Pacific is expected to grow at the maximum CAGR over the forecast period. Rise in disposable income and better exposureto healthcare facilities as well as wide distribution network of the companies operating in this region will drive the market in this region. Over-cooking and low intake of fresh fruits and vegetables are some of the main causes for the increasing occurrences of vitamin deficiency diseases in this region. Therefore there is an increased demand for food containing vitamin ingredients to neutralize the issue. This demand is likely to be met by vitamin ingredients that is likely to push the market in this region.
In 2016, North America followed Asia Pacific in terms of market share by revenue. It accounted for more than 27% of total market size. The U.S.held a significant market share of the vitamin ingredients marketin the region.The U.S. has arecognizedhealth care system and advanced diagnostic processes. Majority of the population in the North America region opts for prevention of the disease than curing it. Therefore, there is an increased demand of vitamin based food and drugs. This in turn will propel the demand of vitamin ingredients in this region.
Due to rising demand for vitamin ingredients, companies functioning in the market are expanding their product portfolio in order to housevarious types of vitamin ingredients based products in their product offering.Key players in the global vitamin ingredients market include BASF SE, Lonza Group, BluestarAdisseo Company, Bactolac Pharmaceutical, Inc., Archer Daniels Midland Company, Amway, and Koninklijke DSM N.V. Some of the other companies operating in the market are AIE Pharmaceuticals, Inc., E. I. du Pont de Nemours and Company, and Atlantic Essential Products, Inc.
The global Vitamin Ingredient market has been segmented into:
Global Vitamin Ingredients Market: By Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- Latin America (LATAM)
- Rest of LATAM
Global Vitamin Ingredients Market: By Type
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
Global Vitamin Ingredients Market: By Application
- Processed and Packaged Food and Beverage
- Animal Feed
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