Vitamin D Market is Accelerated After COVID19 Outbreak
The Global Vitamin D Market was valued at US$ 1.2 Bn in 2020 is expected to reach US$ 1.8 Bn by 2027, with a growing CAGR of 6.7% during the forecast period (2021-2027).
Growing concerns related to balance diet, use of vitamin D in food & beverage industry and in healthcare products are some of the factors responsible for the growth of vitamin D market. Moreover, increasing diseases such as osteomalacia and osteoporosis in many countries across the world, awareness regarding joints and bones health among geriatric and athletic population, and high demand from pregnant ladies are the key factors that pulls the growth of vitamin D market during the forecast period. On other hand, stringent regulatory policies and availability of vitamin D supplements fake products tends to hinder the growth of market.
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Vitamin D belongs to the group of fat-soluble secosteriods, which is responsible to increase absorption of calcium, magnesium, and phosphate into intestine for producing biological effects. Vitamin D is synthesized in lower layer of skin called epidermis with the help of chemical reaction in presence of sunlight or uv-raditation. Very few food products produce vitamin D such as fleshy fish, which contains significant amount of vitamin D and mushrooms grown in uv light contribute to the presence of vitamin D in it. Vitamin D supplements are highly recommended to people who lack in deficiency, especially, to the children, which help in the growth of physiological functions. Rising incidences of diseases related to deficiency of vitamin D, tends to increase demand for vitamin D market.
Vitamin D market is broadly segmented into different segments such as analogs, form of vitamin D, applications, end user and based on region. Based on analog, vitamin D3 is expected to account for highest market share in 2020, as it is widely used in food & beverage industry, healthcare, and personal care industry. Based on application, pharmaceutical segment is expected to grow at the highest CAGR during the forecast period due to increase in use of vitamin D in therapies and cosmetic products. Major players operating in the vitamin D market are DSM, Fermenta BASF, Biotech Ltd., Xiamen Jindawei Vitamin Co., Ltd., Zhejiang Garden, Glanbia, Biochemical High-Tech Co. Ltd, Nestle SA, Zhejiang Medicine Co., Ltd., and Pfizer, Inc.
Global Vitamin D Market by Region Outlook (Revenue, USD Million, 2021-2027)
Middle East & Africa
On the basis of region, Asia-Pacific accounted for the largest share in the vitamin D market. This is due to increase in pharma companies and food industries. This region is projected to grow with significant rate due to rising income levels, increasing population and health awareness amongst the population. These factors impact the growth of vitamin D market in this region. China and India are the largest contributor of the Asia-Pacific region due to rapid urbanization, change in life style, demographic profile, favourable opportunities and industrial investment are expected to drive the growth of this region in vitamin D market.
North America accounted for about 25% of market share in 2020. This is due to high health concerns in millennial population, huge investment in pharmaceutical sector for development of innovative products, and growing consumption of vitamin D as a dietary supplements drives the growth of market.
The Global Vitamin D Industry Segmentation:
Global Vitamin D Market by Analog Outlook (Revenue, USD Million, 2021-2027)
Global Vitamin D Market by Form Outlook (Revenue, USD Million, 2021-2027)
Global Vitamin D Market by Application Outlook (Revenue, USD Million, 2021-2027)
Food & Beverage
Global Vitamin D Market by End User Outlook (Revenue, USD Million, 2021-2027)
Based on analog, vitamin D3 is expected to account for the highest market share in 2020, as it is widely used in food & beverage industry, healthcare, and personal care industry.
Based on form, dry form of vitamin D is expected to account for majority of market share during the forecast period due to high stability and shelf-life properties.
Based on application, pharmaceutical segment is expected to grow at the highest CAGR during the forecast period due to increase in use of vitamin D in various therapies.
Based on end user, children segment is expected to have the maximum market share during forecast period
Based on regions, Asia-Pacific region is estimated to dominate the vitamin D market in 2020 due to presence of high population suffering with Rickets and large number of pregnant women.
The key players operating in the market are:
Fermenta Biotech Ltd.
Xiamen Jindawei Vitamin Co., Ltd.
Zhejiang Medicine Co., Ltd.,
Zhejiang Garden Biochemical High-Tech Co., Ltd,
Zhejiang Xinhecheng Co., Ltd
ADM Alliance Nutrition Inc.
Kraft Foods Group
In April 2021, Nestle acquired vitamin maker Bountiful Co. for USD 5.75 billion to develop Nestle’s strategies of buying bigger brands of vitamins in order to gain pricing power and health-conscious consumers attention.
In April 2021, Lobe Sciences ltd. acquired through its subsidiary Eleusian Biosciences Corp., the good product line ‘Vitamind’. This product line specifically focused on immune boosting response and increasing mental clarity and this will provide help to generate revenues.
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