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
- Published Date: July 2020
- Report ID: BWC20100
- Available Format: PDF
- Page: 179
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, and the rise in per capita disposable income of consumers fuel 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 a vast development scope for food items and supplements, ensuring adequate vitamin intake. Such products are found in sports nutrition, food & beverage, nutraceuticals, and personal care industries. Ingredients containing vitamins A, B, C, D, E, and K are extensively deployed to prepare 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 experience 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 a focus on sufficient vitamin intake. It propels consumers to recognize its need and consume vitamin supplements in their busy lifestyles. Growing health awareness and the growth of fitness centers and health clubs support the request for vitamin supplements. Moreover, vitamin supplements for women are also lucrative for market players seeing growing health consciousness among women.
The rising incidence of obesity and related diseases makes consumers opt for food and beverage products that are low in fat and rich in minerals. This factor drives the Market Growth
Growing knowledge about lifestyle diseases has induced growth in the vitamin market. Moreover, rising requests for better and nutritious foods from consumers and a rise in consumers' per capita disposable income are other factors contributing to market growth. Lack of information regarding the required intake of nutritional supplements hampers market growth and may prove a primary threat to the product. However, rising nutritional imbalance among consumers, due to increased intake of junk food and alcoholic beverages and unhealthy lifestyles, is expected to surge the demand for vitamins universally in the coming years.
Global Vitamin Consumption Market – Segmentation
Based on the type of vitamin, the vitamin market falls under Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K segments. The Vitamin A segment dominated the market in 2018 with the maximum share. Rising cases of ophthalmic diseases, rise in the elderly population, increasing healthcare expenditure, and the thriving food & beverage sector drive the industry growth. Vitamin A helps in weak growth & development, lowers cancer risk, and cures eye-related ailments such as cataract, night blindness & shortsightedness, thereby attracting the significant demand for food & personal care products containing vitamin A.
The vitamins market has been segregated into animal feed, healthcare products, food & beverages, and personal care products by the application. The healthcare section captured a significant chunk of the market in 2018. Vitamins have a substantial scope to grow in this segment as nutritional additions and pharmaceutical products due to the increasing shift towards preventive healthcare. Besides, the deficiency of vitamins also triggers requests for vitamin supplements in both developed and developing countries. The food & beverage segment is projected to grow at the highest CAGR. The increasing acceptance and consumption of nutritious food & beverages, the unceasing developments, and new product launches ensure the growth in the vitamin market's food & beverage segment.
Based on the region, Global Vitamin Consumption Market is segmented
by key regions— North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa. Amongst these, Asia Pacific is the biggest market,
accounting for the majority of the market share.
Global Vitamin Consumption Market - Regional Insights
The Asia Pacific exercised control over the vitamin market in 2018 and is anticipated to grow at the highest CAGR. The market in this region is majorly influenced by China, the primary producer, exporter, and customer of vitamins. Moreover, the rise in incomes increased purchasing power, and substantial requests for nutritional & healthy items drive the use of vitamins in various industries. Further, the market for vitamins in the Asia Pacific is transforming due to its growing application in the animal feed industry. The segment caters to the livestock's food requirements of milk, egg, and meat and accounts for the significant share. Quality feed is essential for livestock development and performance. As livestock owners are becoming increasingly aware of the nutritional values offered in the meal and essential micronutrients such as vitamins, there is a higher demand for animal feed containing vitamins in the Asia-Pacific region.
Pfizer, Koninklijke DSM, Nestle, Lonza, Groupe Danone, Amway, Archer Daniels Midland Company, Bluestar Adisseo Company, AIE Pharmaceuticals Inc., and Bactolac Pharmaceuticals, Inc., Glanbia plc, BASF, Vitablend Nederland B.V., SternVitamin GmbH & Co. KG, Farbest-Tallman Foods Corporation, Watson Inc., Zagro, The Wright Group, Rabar Pty Ltd., Adisseo, Showa Denko K.K., are the prominent players in the market.
Ø In December 2017, Nestle acquired Canadian vitamin maker Atrium Innovations for diversification its presence in consumer healthcare.
Ø In June 2019, pharmaceutical heavyweights Pfizer and GlaxoSmithKline (GSK) had announced to merge their consumer health units to tap the growing interest in vitamins and dietary supplements.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Projection – 2020 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.
By Type, By Application, By source, and By Region.
Pfizer, Koninklijke DSM, Nestle, Lonza, Groupe Danone, Amway, Archer Daniels Midland The company, Bluestar Adisseo Company, AIE Pharmaceuticals Inc., and Bactolac Pharmaceuticals, Inc., Glanbia plc, BASF, Vitablend Nederland B.V., SternVitamin GmbH & Co. KG, Farbest-Tallman Foods Corporation, Watson Inc., Zagro, The Wright Group, Rabar Pty Ltd., Adisseo, Showa Denko K.K.
Ø Vitamin B
Ø Vitamin E
Ø Vitamin D
Ø Vitamin C
Ø Vitamin A
Ø Vitamin K
Ø Healthcare Products
Ø Food & Beverages
Ø Personal Care Products
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and project the Global Vitamin Consumption Market size in terms of value.
Ø To examine the region-wise segmentation of the Global Vitamin Consumption Market and assess the market size in terms of value for each region viz., North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.
Ø To outline, segregate and estimate the Global Vitamin Consumption Market based on different classifications, i.e., By Application, By End User, and By Region.
Ø To scrutinize category-wise competitive developments in the Global Vitamin Consumption Market By Type, By Application, By source, and By Region.
Ø To interpret the current market dynamics by analyzing the growth drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per the client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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