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Global Vitamin Ingredients Market was valued at US$ XX Mn in 2017 and expected to grow at 5.0% Compound Annual Growth Rate (CAGR) over the 2018 to 2024
Vitamin Ingredients Market
Vitamins are the essential nutrients for the human body to maintain the proper metabolic functions, healthy life, nerve functions, and digestion. Vitamins are majorly classified into two types namely, fat soluble vitamins include vitamin A, D, E, K and water soluble vitamins Include vitamin B and C. vitamin ingredients are preferred by the physicians in certain health problems, pregnant, and breast feeding women for providing the energy.
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Market Dynamics: Global Vitamin Ingredients Market
Increase in the demand for vitamin ingredients due to rise in prevalence of lifestyle diseases, rise in awareness about the preventive measures among the consumers, and growth in number of pregnant and lactating woman are anticipated to fuel the vitamins ingredients market. Moreover, government programs for the necessary intake of vitamins for children and better availability of products are expected to upsurge the revenue of global vitamin ingredients market. However, rise in preference for natural vitamin food products such as fruits, meat and fish oils and degradation of vitamin products due to unfavorable storage conditions may restrain the growth of global vitamin ingredients market.
Market Scope: Global Vitamin Ingredients Market
Global vitamin ingredients market is segmented based on vitamin type, formulation, and application
Based on the vitamin type, the market is segmented into the following:
• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K
Based on the formulation, the market is segmented into the following:
• Solid
• Liquid
• Powder
Based on the application, the market is segmented into the following:
• Food and Beverages
• Pharmaceuticals
• Cosmetics
• Others
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Regional Analysis: Global Vitamin Ingredients Market
Geographically, global vitamin ingredients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America vitamin ingredients market is rising due to increase in the awareness regarding disease preventive measures, rise in R&D for the innovation of newer products with vitamin supplements, increase in the adoption of pet animals, and rise in disposable income expected to fuel the market. Europe vitamin ingredients market has a prominent share in global market owing to increase in the prevalence of lifestyle disorders such as bone disorders, increase in the number of livestock industries, grow in demand for healthy diet, and rise in per capita income. However, a lucrative growth observed in the Asia Pacific vitamin ingredients market, which is attributed to increase in the geriatric population, who are prone to vitamin deficiency disorders such as night blindness and hypocalcemia, rise in number of pregnant and lactating woman, and rapid industrialization of livestock industry in the region.
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Competition Assessment: Global Vitamin Ingredients Market
Some of the players in the global vitamin ingredients market include:
• BASF SE (Germany)
• Archer Daniels Midland Co. (U.S.)
• E. I. du Pont de Nemours and Co. (U.S.)
• Bayer AG (Germany)
• Koninklijke DSM N.V. (Netherlands)
• Pharmavite LLC (U.S.)
• Herbalife International, Inc. (U.S.)
• Nutraceutical Corporation (U.S.)
• Bactolac Pharmaceutical (U.S.)
• Adisseo (France)
• Nestle (Switzerland)
Notable Market Developments: Global Vitamin Ingredients Market
In December 2017, Nestle acquired Canadian vitamin maker Atrium Innovations for diversification its presence in consumer healthcare
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