Vitamins D Market to touch USD 13.9 billion at 30.7% CAGR by 2032

Vitamins D request Size was valued at USD 1263.45 million in 2022. The Vitamins D Market Industry is projected to grow from USD 1331.05 million in 2023 to USD2034.60 million by 2030 flaunting a composite periodic growth rate (CAGR) of 6% during the cast period (2023- 2030).

The demand for vitamin D has increased in the last couple of years, mainly due to the growing awareness of its benefits among retail consumers seeking immune support products backed by strong scientific evidence. Moreover, infectious disease specialists highlight vitamin D's benefits in immune support when discussing COVID-19. This has led more medical professionals and individuals to realize the importance of vitamin D in the human body.

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In addition to immune health, vitamin D is also consumed by hypocalcemia patients to help elevate calcium levels in blood and people suffering from osteomalacia & osteoporosis. Patients about to undergo orthopedic surgery are often administered the product to help raise vitamin D levels, as deficiency before surgery can impact bone remodeling and post-surgery recovery.

There is also growing interest in supplements targeting specific chronic medical conditions, such as high cholesterol & blood pressure, diabetes, arthritis, dementia, insomnia, mental stress, and obesity. However, only efficacious supplements with creditable clinical and scientific evidence gain the interest of medical practitioners.

Generally, medical practitioners also insist on seeing evidence from clinical trials involving a larger sample size and a longer duration. The consumption of functional foods is rising due to growing nutrition deficiency concerns and rapid economic growth across the globe. The growing use of vitamin D as an ingredient in several functional foods substantiates market revenues.

Moreover, many functional food manufacturers have started increasing their production, aiding the growth of the vitamin market. The rising demand for naturally sourced vitamins from end-use industries is anticipated to create a significant opportunity for the vitamin D market players.

Segments

The vitamin D market is segmented into types, applications, and regions. The type segment is sub-segmented into vitamin D2 and vitamin D3. Of these, the vitamin D3 segment holds the largest, 74.92% of the market share. Also known as cholecalciferol, vitamin D3 is found in fatty animal foods, such as fish oil and egg yolk. The human body can also produce it when exposed to the sun. Vitamin D3 is not water-soluble but soluble in ether, alcohol, vegetable oil, and acetone.

The application segment is bifurcated into dairy & frozen desserts, bakery & confectionery, meat alternatives, sports nutrition, oils & fats, dairy alternatives, breakfast cereals, dietary supplements, and others. By regions, the vitamin D market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Regional Analysis

Europe has portrayed gradual growth over the past few years and is expected to continue high growth over the next few years. Rapid growth in the nutraceuticals sector, increasing demand for functional food, and the high adoption of alternative diets are major growth drivers. Almost three fourth of the total population suffers from vitamin D deficiency, which alongside the aging populaces in the region, propel the vitamin D market revenues.

Additionally, the demand for natural-certified food & supplements and the consumer preference for organic products has been surging over the last few years in the EU, which boosts the region's vitamin D market shares. Germany accounts for the largest, while France accounts for the second-largest share in the European vitamin D market. However, France is anticipated to take the lead in the regional market during the assessment period.

The Asia-Pacific region is the second-largest market for vitamin D globally. With the rising focus on preventive healthcare, APAC has become a lucrative destination for vitamin D manufacturers. Besides, the increasing consumer inclination toward healthy lifestyles, rapid urbanization, and rising per-capita disposable incomes in the emerging economies in APAC are significant tailwinds escalating the vitamin D market value. The APAC vitamin D market is projected to exhibit a notable CAGR during the forecast period.

Competitive Analysis

Tier-1 and tier-2 companies invest more in R&D to develop new vitamin supplements in various flavors and forms with clinically proven formulas and scientific research.

For instance, on Aug.08, 2022, MD Pharmaceuticals, a healthcare distributor & marketer, and DSM, a global leader in health & nutrition, announced the joint development of fast-acting vitamin D supplements, Rapid-D, to boost immunity. The halal-certified, Rapid-D is a 100 % vegetarian capsule containing Ampli-D, a form of vitamin D3, also known as calcifediol.

Players leading the global vitamin D market are BASF SE (Germany), Koninklijke DSM NV (Netherlands), Farbest Brands (US), Pharmavit (Netherlands), Zhejiang Garden Biochemical High-tech Co., Ltd. (China), Prinova Group LLC. (US), SternVitamin GmbH & Co. KG (Germany), Piramal Pharma Solutions (India), Fermenta Biotech Limited (India), The Coca-Cola Company (US), Glanbia plc. (Ireland), Creamline Dairy Products Ltd (India), Pepsico (US), Mother Dairy (India), Nestle (Switzerland), The Kellogg Company (US), Chlorophyll Water (US), The Hain Celestial Group, Inc. (US), Danone SA (France), and General Mills Inc. (US), among others.

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