Vitamin D Ingredients Market to Showcase Healthy Expansion at 11.1% CAGR During 2016-2026
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According to Future Market Insights –
“The global market for vitamin D ingredients, which is presently valued over US$ 1.2 billion, will surge at a healthy CAGR of 11.1% and bring in revenues worth over US$ 3.5 billion by the end of 2026.”
Vitamin D Consumption Rampant in Western Europe
A majority of global demand for vitamin D ingredients emanates from North America and the Asia-Pacific excluding Japan (APEJ) region. In 2017 and beyond, North America will account for more than two-third of global revenues, while over 2,000 tonnes of vitamin D ingredients are expected to be consumed in the APEJ region by 2026-end. Still, Western Europe is projected to be the most lucrative region for sales of vitamin D ingredients. According to the report, the vitamin D ingredient revenues in Western Europe will be soaring at the fastest pace, registering CAGR of 13.5%. On the other hand, Eastern Europe, Latin America and Middle East & Africa will showcase a relatively moderate revenue growth for vitamin D ingredients. Japan’s contribution to global vitamin D ingredients market value will remain less than 3% throughout the forecast period.
Half of World’s Vitamin D Ingredients used by Drug Makers
Pharmaceutical applications of vitamin D ingredients are proliferating successively, compelling manufacturers of these ingredients to modify their product offerings according to pharmaceutical compatibility. By 2026, one out of every two vitamin D ingredient being produced in the world will be consumed by pharmaceutical industries. Food and beverage manufacturers are also increasing their contribution by collectively accounting for more than 30% share of global vitamin D ingredient market. In the due course of projection period, consumption of vitamin D ingredients will witness higher demand for cosmetic applications, while animal and pet feed industries from around the world will lower the vitamin D content in their products.
Additional research highlights compiled in the report include:
Preference to powdered form of vitamin D ingredients is expected to remain high through 2026
A majority of vitamin D ingredients will be sourced from fish meat, which is also a cost-effective method
In 2016, more than US$ 900 million worth of vitamin D3 ingredients were consumed in the world
The demand for vitamin D2 ingredients will grow at less than 9% CAGR during the forecast period
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Key Manufacturers of Vitamin D Ingredients
Future Market Insights has profiled leading players in the global vitamin D ingredients market for their active participation. Among such companies, Dishman Netherlands BV is being recognised as the world’s sole large-scale producer of vitamin D2 ingredients. Companies such as BASF SE, Royal DSM NV, Schiff Nutrition International, Inc. (Reckitt Benckiser), and Zhejiang Garden Biochemical High-tech Company Limited are prominent manufacturers of vitamin D3 ingredients. Other companies partaking in the global vitamin D ingredient market include Barr Pharmaceuticals, Lycored Limited, Fermenta Biotech Ltd., J.R. Carlson Laboratories, and GlaxoSmithKline plc.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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