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Global Vitamins Market Key Players, Demands, Trends, Size and Types: Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, & Vitamin K

03-31-2023 09:13 AM CET | Business, Economy, Finances, Banking & Insurance

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Vitamins Market

Vitamins Market

The vitamins market refers to the global industry that produces and sells vitamin supplements, fortified foods, and beverages. Vitamins are organic compounds that are essential for the proper functioning of the human body. They play a vital role in maintaining good health, supporting the immune system, and preventing various diseases.

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The vitamins market size is estimated to be valued at USD 6.7 billion in 2023 and is projected to reach USD 8.9 billion by 2028, recording a CAGR of 6.0% during the forecast period in terms of value. The increasing prevalence of vitamin deficiencies is driving the vitamins market across the globe.

The vitamins market is driven by increasing consumer awareness about the importance of a healthy diet and the need for vitamin supplements to fill in any nutritional gaps. The rise in the aging population and the growing prevalence of chronic diseases, such as diabetes and obesity, have also contributed to the growth of the vitamins market.

The market is segmented by type of vitamin (vitamin A, B, C, D, E, and K), form (tablets, capsules, liquid, and powder), and distribution channel (retail stores, online stores, and pharmacies).
Key players in the market include Koninklijke DSM N.V.(Netherlands), Glanbia PLC(Ireland), ADM (US), BASF (Germany), and Lonza Group(Switzerland), Adisseo (China), Vitablend Nederland B.V.(Netherlands), among others.

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The vitamins market is expected to continue to grow in the coming years, driven by factors such as increasing health consciousness among consumers, growing demand for functional foods and beverages, and the rise of e-commerce platforms for the sale of vitamins and supplements. However, the market is also facing challenges such as strict regulations on the production and sale of vitamins, as well as increasing competition from alternative sources of nutrition, such as herbal supplements and superfoods.

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