Global Vitamins Market, By Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, Vitamin K), Application (Healthcare products, Pharmaceuticals, Food and beverages, Animal Feed, Personal care), Source (Synthetic, Natural, Plant, Animal, Others), Distribution Channel (Hypermarket, Supermarket, Mass Merchandisers, Specialty Stores, Others)-Industry Trends and Forecast to 2029.
Market Analysis and Size
Supplementing with micronutrients such as vitamins C and D, zinc, and omega fatty acids within specified upper safety levels is a safe, effective, and low-cost way to help support healthy immune function. Consumers are increasingly embracing vitamins as part of their daily routine as their interest and worries about personal health and well-being grow.
Data Bridge Market Research analyses that the vitamins market was valued at USD 6.55 billion in 2021 and is further estimated to reach USD 11.94 billion by 2029, and is expected to grow at a CAGR of 7.8% during the forecast period of 2022 to 2029.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, Vitamin K), Application (Healthcare products, Pharmaceuticals, Food and beverages, Animal Feed, Personal care), Source (Synthetic, Natural, Plant, Animal, Others), Distribution Channel (Hypermarket, Supermarket, Mass Merchandisers, Specialty Stores, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BASF SE (Germany), DSM (Netherlands), ADM (US), SternVitamin GmbH & Co. KG (Germany), Glanbia plc (US), Lonza (Switzerland), Vitablend Nederland BV (Netherlands), Zagro (Singapore), Wright Enrichment Inc. (US), Adisseo (China), Showa Denko K.K. (Japan), Farbest Brands (US), Jubilant Life Sciences Ltd. (India), Vertellus Holdings LLC (US),
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Market Opportunities
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Market Definition
Vitamins are a group of substances that are needed for normal cell growth, function, and development. They are essential nutrients and chemical molecules that an organism need in insufficient quantities. Vitamins are therefore mostly used as components and supplements in a variety of businesses.
Vitamins Market Dynamics
Drivers
- Rise in the demand for functional and nutritionally enriched processed food products
The nutraceuticals industry has seen a surge in demand for healthful and nutritional products, despite severe market restrictions and declining purchase trends in the food and beverage sector which will further accelerate the growth of the market.
- Increase in the incidence of vitamin deficiencies
Vitamin deficiency and malnutrition are becoming more common which is further anticipated to propel the growth of the vitamins market.
- Increase in the aging population
Vitamin supplements are used by the elderly to prevent diseases associated with ageing which is further expected to drive the market growth.
Opportunities
In addition, the sourcing of natural allergen-free vitamin E is further estimated to provide potential opportunities for the growth of the vitamins market in the coming years.
Restraints/Challenges
On the other hand, the inhibited supply of raw materials for natural vitamins is further projected to impede the growth of the vitamins market in the targeted period. However, the shortage of ingredients and price sensitivity might further challenge the growth of the vitamins market in the near future.
This vitamins market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vitamins market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vitamins Market
The pandemic of COVID-19 has had a huge impact on the vitamins market. The COVID-19 related economic crisis is affecting the vitamin business by interrupting delivery networks.
Supplements have a delicate supply chain, and failure at any point of the chain-from farms to dealers, transporters and distributors to manufacturers-can cause the entire network to be disrupted. However, in the post-COVID scenario, there is a growing demand for vitamins supplements due to the growing incidence of vitamin deficiencies.
Recent Development
- In January 2020, Vthrive, a new product from Franchise Group, Inc., was launched to expand the brand's collection of vitamins, proteins, and supplements.
Global Vitamins Market Scope and Market Size
The vitamins market is segmented on the basis of type, application, source and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Vitamin B
- Vitamin E
- Vitamin D
- Vitamin C
- Vitamin A
- Vitamin K
On the basis of type, the vitamins market is segmented into vitamin B, vitamin E, vitamin D, vitamin C, vitamin A and vitamin K.
Application
- Healthcare Products
- Pharmaceuticals
- Food and Beverages
- Animal Feed
- Personal Care
On the basis of application, the vitamins market is segmented into healthcare products, pharmaceuticals, food and beverages, animal feed and personal care.
Source
- Synthetic
- Natural
- Plant
- Animal
- Others
On the basis of source, the vitamins market is segmented into synthetic, natural, plant, animal and others. Others is further sub segmented into snacks, flours and breakfast cereals.
Distribution Channel
- Hypermarket
- Supermarket
- Mass Merchandisers
- Specialty Stores
- Others
On the basis of distribution channel, the vitamins market is segmented into hypermarket, supermarket, mass merchandisers, specialty stores and others.
Vitamins Market Regional Analysis/Insights
The vitamins market is analysed and market size insights and trends are provided by country, type, application, source and distribution channel as referenced above.
The countries covered in the vitamins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the vitamins market due to the increase in the use of products with high nutritional value and low-calorie content. Furthermore, rise in the awareness related to the consumption of supplement products will further boost the growth of the vitamins market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the vitamins market due to the increase in the high attention for the vitamins.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The vitamins market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for vitamins market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the vitamins market. The data is available for historic period 2010-2020.
Competitive Landscape and Vitamins Market Share Analysis
The vitamins market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vitamins market.
Some of the major players operating in the vitamins market are:
- BASF SE (Germany)
- DSM (Netherlands)
- ADM (US)
- SternVitamin GmbH & Co. KG (Germany)
- Glanbia plc (US)
- Lonza (Switzerland)
- Vitablend Nederland BV (Netherlands)
- Zagro. (Singapore)
- Wright Enrichment Inc. (US)
- Adisseo (China)
- Showa Denko K.K. (Japan)
- Farbest Brands (US)
- Jubilant Life Sciences Ltd. (India)
- Vertellus Holdings LLC (US)
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