Vitamins Market 2020 – Impact of COVID-19, Future Growth Analysis and Challenges

Vitamins are primarily extracted from two sources, namely, plant and animal sources. The increasing preferences for food supplements to fulfill the required needs, which in turn is expected to boost the market for vitamins. Moreover, milk, yoghurt, cheese are also extracted from animals which are rich in various kind of vitamins. The animal source segment is dominating the global vitamin market in the last five years and is expected to retain the trend during the forecast period.

The global market report is prepared to help the esteemed readers to take the crucial business decisions profoundly. This research report is aimed to provide an in-depth analysis of the products’ market performance, developments, and innovations that are creating lucrative opportunities and opening up new market avenues for industry players.

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Impact of COVID-19 on the Vitamins Market

The COVID-19 pandemic had disrupted the industry owing to the lockdown of the manufacturing facilities and the trade barriers which were imposed across the globe. However, the market is slowly recovering and is speculated to return pre-COVID level soon.

7 Things That Are Covered in the Vitamins Report:

-Historical, current, and future estimated market value & size
-Recent developments and innovations in the market
-Competitive landscape
-Entry-level and top-winning strategies that can aid the businesses to expand their market share
-Emerging market trends and potential new market avenues
-Governing body regulations and policies on the usage of product
-In-depth market segment analysis

Regional Insights

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.

Major Companies that are Covered in the Report:

The global Vitamins market report comprises of industry players’ mergers, acquisitions, partnerships, and collaborations that have aided them to leverage their position in the market. This report has incorporated the strategies that have adhered the industry players to increase their revenue and improve the profit margins. It also comprises of the challenges that were germinated out of their business decisions.

Detailed Segmentation:

• Global Vitamins Market, By Source:
o Plant
o Animal
o Others

• Global Vitamins Market, By Product Type:
o Vitamin A
o Vitamin B
o Vitamin C
o Vitamin D
o Vitamin E
o Vitamin K

• Global Vitamins Market, By End Use Industry:
o Food and Beverages
o Personal Care
o Animal Feed
o Pharmaceutical
o Others

• Global Vitamins Market, By Distribution Channel:
o Hypermarket
o Supermarket
o Mass Merchandisers
o Specialty Stores
o Others

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.

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This release was published on openPR.