Vitamin D Ingredients Market is expected to witness significant growth as compared to other source segments
Increasing awareness regarding the health benefits associated with the consumption of vitamin D ingredient rich products such as fortified food products is a major driver for the market. Vitamin D ingredients enhance calcium metabolism and enable bone mineralization, among several other benefits. Rise in the number of awareness initiatives by government organizations and aggressive advertisement and promotion activities by supplement and pharmaceutical manufacturers for brand recognition are other major drivers for the the vitamin D ingredients market.
Pharmaceutical companies are publicizing their products in order to drive sales and expand their consumer base. There has also been an increase in the demand for Vitamin D Ingredients in various food applications. The availability of a wide variety of fortified food products and different types of supplements enhancing the consumer base. These factors are contributing to the overall revenue growth. Manufacturers are developing and launching new and innovative varieties of vitamin D ingredients in different forms and the demand for new varieties is increasing steadily, especially in developed countries.
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Among the vitamin type segments, the vitamin D2 segment is expected to witness lower demand than the vitamin D3 segment in the vitamin D ingredients market during the forecast period. Globally, the vitamin D3 segment’s value share contribution to the overall market revenue is significantly higher than that of the vitamin D2 ingredient segments. This can be attributed to the strong demand for fish in the production of vitamin D3 among various industries such as food, beverage, cosmetic, pharmaceutical and animal feed and pet food. In terms of market value, revenue from the vitamin D2 ingredient segment is expected to expand at a CAGR of 8.16% between 2016 and 2026, whereas the vitamin D3 segment is expected to expand at a CAGR of 12.01% in terms of value over the forecast period.
As per the report, globally, the value and volume share contribution of the fish source segment to the overall market revenue is expected to witness significant growth as compared to other source segments. This growth can be attributed to the ease in the production of vitamin D ingredients from fish. Fish contain quite a large amount of vitamin D as compared to other natural sources, which makes them a competent raw material for the production of vitamin D ingredients. The growth of the fish source segment can also be attributed to the strong demand for vitamin D from North America and Europe and growing demand in APEJ countries.
Globally, the value and volume share contribution of the powder form segment to the overall market revenue is expected to witness significant growth as compared to other form segments. This growth can be attributed to the strong demand for vitamin D powder in North America, Europe and Japan and the growing demand in APEJ and MEA countries. In terms of market value, revenue from the powder segment is expected to expand at a CAGR of 12.42% between 2016 and 2026, whereas that from the liquid segment is expected to expand at a CAGR of 8.88% in terms of value over the forecast period.
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Key Producers of Vitamin D Ingredients
Major players operating in the vitamin D ingredients market space are vitamin D ingredient producers. The Dishman Netherlands BV has been recognized 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 focusing on expanding their market presence by establishing new processing facilities.
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