- July 2020 |
- Food and Beverage / Food
Global Vitamin Consumption Market Size, by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Outlook, 2020-2027
Global Vitamin Consumption Market – Market Outlook & Trends
The Global Vitamin Consumption Market
was evaluated at USD 5.18 billion in 2019 and is anticipated to reach USD 9.10
billion by 2027, at a CAGR of 7.30 % during the projection period. The constant growth of
the wellness industry, rising demand for healthier & nutritional foods amid
consumers worldwide, increasing awareness about health issues and diseases,
rise in per capita disposable income of consumers are the factors fueling the
vitamin ingredients market.
The consciousness about lifestyle diseases has further uplifted growth. Lack of awareness concerning the number of dietary additions or supplements limits market growth and poses a significant challenge for the product. However, rising intake of junk food and alcoholic beverages and lifestyle changes leading to growing nutritional imbalance among consumers is foreseen to mount product request universally in the subsequent years.
Global Vitamin Consumption Market – Overview
Vitamins are organic micronutrients essential for the development, repair & metabolism of the human body. They must be present in ample quantities in the human diet as the body cannot produce it sufficiently. Thus, it leaves ample scope of development for food items and supplements, ensuring adequate vitamin intake. Such products are mainly used in sports nutrition, food & beverage, nutraceuticals, and personal care industries. Ingredients containing vitamins A, B, C, D, E, and K are extensively deployed in preparation of animal feed, food and beverages, cosmetics, pharmaceuticals, and other industries. The ophthalmologists regularly prescribe medications or supplements containing Vitamin A to improve eyesight and treat eye-related ailments like myopia, cataract, and night sightlessness. The vitamin A market has gained significance as it assures substantial returns from the market. Vitamin D helps to control diabetes and hypertension and captivate calcium for bone health. It is also an attractive market segment in terms of returns and demand.
Diseases caused due to feeding block, and vitamin deficiencies are fueling the market growth
In current years, people are experiencing more and more vitamin deficiencies due to chaotic lifestyles, shortened mealtimes, and loss of nutrients during cooking and highly processed food consumption. However, increased consumer awareness regarding diseases caused by the same has resulted in...