The global animal source segment in the "Global Vitamins Market" is expected to witness a CAGR of 4.99% from 2017 to 2025 with Trending Key Players North China Pharmaceuticals Corporation, Pharmavite LLC and CSPC Pharmaceuticals Group Limited
Vitamins are organic compounds that are essential for every organism in a small amount for proper growth and development of the body. Lack of these vitamins may led to various vitamins deficiency diseases and disorders such as night blindness, xerophthalmia and keratomalacia. Growing consumer awareness for various vitamins deficiency diseases across the world in turn is expected to boost growth of the global market for vitamins.
These vitamins can be classified into two groups, namely water based and fat based. The Public Health Clinical Medicine and Social Policies, across the world are challenging for micronutrient deficiency due to lack of food security, monitoring and education in the developing and underdeveloped region. These deficiencies in children mostly due to vitamins A and Vitamins D, iodine and iron deficiency along with clinical anemia and rickets. Also, various chronic diseases among adults, which includes osteoporosis, osteomalacia, colorectal cancer, thyroid deficiency and cardiovascular diseases are primarily linked to deficiency of vitamin D and iodine.
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The global vitamins market size was valued at US$ 5.16 billion (revenue) in 2016 and is expected to expand at a CAGR of 4.98% in terms of revenue during 2017 – 2025.
Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion
Major players in the global vitamins market include Adisseo France S.A.S., Archer Daniels Midland Co., BASF SE, CSPC Pharmaceuticals Group Limited, Lonza Group Ltd., North China Pharmaceuticals Corporation, Pharmavite LLC, Zhejiang Hangzhou Xinfu Pharmaceutical Co. Ltd., among others. Product portfolio expansion and geographical expansion are the key market trends which are expected to shape the industry in the near future.
The objectives of this report are as follows:
-To present overview of the global Vitamins market
-To examine and forecast the global Vitamins market on the basis of types, explications, and applications
-To present market size and forecast till 2026 for overall Vitamins market with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM), which are later sub-segmented over respective major countries
-To evaluate market dynamics effecting the market during the projection period i.e., drivers, barriers, opportunities, and coming trend
-To provide exhaustive PEST analysis for all five regions
-To profiles key Vitamins players influencing the industry along with their SWOT analysis and market policies
Mass Merchandisers as an Emerging Distribution Channel for Vitamins Market
Among distribution channel, mass merchandisers segment is expected to hold dominant position in the vitamins market over the forecast period and is expected to expand at a CAGR of over 4.96% in terms of revenue over the forecast period. According to Coherent Market Insights’ analysis, the global mass merchandisers market is projected to reach over 2.41 billion units by the end of 2021, which is expected to boost growth of vitamins market during the forecast period. For instance, as of June 2, 2016, AR Walmart, the global leader in mass market retail, operated over 11,453 Walmart stores across the U.S.
Factors such as growing consumer awareness for good health and increasing demand for supplement diet, in turn is expected to boost growth of the vitamins market throughout the forecast period.
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North America, followed by Europe and Asia-pacific, respectively, accounted for major share in the global vitamins market in terms of revenue in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a share of 27.64% in terms of revenue, followed by Europe (28.10%). The growing demand for supplement diet in Asia Pacific due to rising public awareness coupled with growing retail and hospitality sector is expected to drive growth of the global vitamins market over the forecast period. The global animal source segment in the global vitamins market is expected to witness a CAGR of 4.99% from 2017 to 2025. Asia Pacific is expected to be the most lucrative market during the forecast period, due to its rapidly growing economy, especially in China and India, coupled with rising disposable income, which in turn is expected to bend the consumers towards supplement food along with the regular diet.
Moreover, the growing retail sector across the region is also expected to boost the market for vitamins from 2017 to 2025. For instance, according to India Brand Equity Foundation (IBEF)—a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—the retail market in India is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, due to income growth, urbanization, and attitudinal shifts.
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