Vitamin D Market is Expected to Reach $1.6 billion by 2025
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By analog, the vitamin D3segment is estimated to account for the largest share in the vitamin D market in 2020
Among the analogs in the vitamin D market, vitamin D3 was the dominant analog. Vitamin D3 is an essential micronutrient required for the maintenance of the bones and the aversion of osteoporosis and rickets. Vitamin D3 has several functions and has its application in the food, feed, healthcare, and personal care industries. The use of vitamin D3 in the food & beverage industry is closely regulated to prevent the possibility of an overdose since excessive consumption is associated with toxicity.
The vitamin D market is witnessing strong growth due to an increase in the prevalence of vitamin D deficiencies
The prevalence of vitamin D deficiencies in several countries is one of the major factors fueling the growth of vitamin D market. According to the estimates of the Centers for Disease Control and Prevention (CDC), vitamin D deficiency is prevalent in 8.0% of Americans. Deficiency of vitamin D causes rickets in children and osteoporosis in adults. It has also been associated with common cancers, hypertension, and infectious diseases. Children need vitamin D for the development of skeletal structure and tooth enamel. The deficiency of vitamin D in infants can have adverse consequences such as growth failure, ethargy, irritability, rickets, and a predisposition to respiratory infections during infancy.
Asia Pacific is estimated to dominate the vitamin D market in 2020
Asia Pacific is estimated to account for the largest market share in the vitamin D market in 2020.This high growth rate in the Asia Pacific region is coupled with growing investments by pharma and animal feed manufacturers for expansions. Also, the region is witnessing a huge demand for vitamin D3.
According to the 2019 Alltech Global Feed Survey, Asia Pacific is home to several of the top 10 feed-producing countries, including China, India, and Japan; and accounted for more than 36.0% of the world’s feed tonnage. China dominated as the top feed-producing country in the world, with 187.9 million metric tons (207.1 million tons). This region has also witnessed significant growth in manufacturing activities due to the support of the local governments. Increasing investments in R&D is also one of the factors driving the market in Asia Pacific.
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The key players in the vitamin D market include Koninkljike DSM N.V (The Netherlands), Zhejiang Garden Biochemical High-Tech Co Ltd (China), Zhejiang Xinhecheng Co Ltd (China), Fermenta Biotech Ltd (India), Xiamen Jindawei Vitamin Co Ltd (China), BASF Se (Germany), Dishman Group (India), Taizhou Haisheng Pharmaceutical Co Ltd (China), Zhejiang Medicine Co Ltd (China), Glanbia PLC (Ireland), PHW Group (Germany), Bio-Tech Pharmacal (US), Divis Nutraceutical (India), Synthesia (CZE), Hangzhou Think Chemical Co Ltd (China), Sichuan Neijiang Huixin Pharmaceutical Co Ltd (China), Kingdom Nutrition Inc (US), McKinley Resources Inc (Texas), New Gen Pharma Inc (US), Taizhou Hisound Pharmaceutical Co Ltd (China), Pharmavit (The Netherlands), Tocris Bioscience (UK), Lycored (Israel), Stabicoat Vitamins (India), and Spectrum Chemical Mfg Corp (US).
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