Vitamin Ingredients Market 2024 - Share, Ongoing Trends, Size, Growth Rate And Key Players

The Business Research Company recently released a comprehensive report on the Global Vitamin Ingredients Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The vitamin ingredients market size has grown strongly in recent years. It will grow from $4.97 billion in 2023 to $5.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing health awareness, aging population, diverse dietary preferences, rise in chronic health conditions, fitness and wellness culture, consumer demand for natural ingredients, fortification of food and beverages, globalization of dietary, growth in nutraceuticals industry, clinical research and health studies.

The vitamin ingredients market size is expected to see strong growth in the next few years. It will grow to $6.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to emergence of personalized supplements, growing vegan and plant-based diets, nutrigenomics and nutrigenetics, elderly nutrition solutions, expansion of functional foods market, government initiatives for public health, integration of vitamins in functional beverages. Major trends in the forecast period include vitamin d supplementation, customized vitamin blends, clean label and natural sourcing, innovations in delivery formats, digital health and personalized nutrition apps, sustainable sourcing practices.

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Market Drivers and Trends:

The rising prevalence of vitamin deficiency is expected to propel the growth of the vitamin ingredients market going forward. Vitamin deficiency is a condition that occurs when the body does not receive enough of a particular vitamin, leading to a range of health problems. Vitamin ingredients are utilized in various forms, including dietary supplements, fortified foods, and pharmaceuticals, to address these deficiencies and ensure adequate vitamin intake. For instance, in August 2021, according to the statistics shared by Vitall.co.uk, a UK-based medical laboratory, it was established that almost one billion people worldwide have low levels of vitamin D, and approximately 20% of the population in the UK has a vitamin D deficiency. In the UK, over 10% of adults over 75 years old have vitamin B12 deficiency, while over 5% of adults aged 65-74 have vitamin B12 deficiency. Over 30% of the global population is deficient in iron. Iron deficiency is the most widespread nutrient deficiency worldwide. Therefore, the rising prevalence of vitamin deficiency is driving the growth of the vitamin ingredients market.

Product innovation is a key trend gaining popularity in the vitamin ingredient market. Major companies operating in the market are introducing innovative products such as 100% natural active vitamin ingredients for various applications to sustain their position in the vitamin ingredients market. For instance, in April 2021, Vytrus Biotech, a Spain-based biotechnology company introduced Nectaria Lithops, a brand-new innovative natural active ingredient that enhances the stimulation of vitamin D synthesis. It is an entirely natural active component that improves the skin's microenvironment and increases vitamin D production to strengthen, revive, volumize, and brighten fading skin to produce a D-Skin. Nectaria Lithops' special features encourage vitamin D synthesis in skin cells, hydrate the deepest layers of the skin, increase cheek volume dewiness, and enhance oxygenation, microcirculation, skin tone, and texture. It can be used for various cosmetic applications such as deep skin hydration and water retention, skin dewiness treatments, sun care, healthy skin, brightness, and skin microcirculation and oxygenation.

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Major Key Players of the Market:

Archer Daniels Midland Company, BASF SE, Bluestar Adisseo Company, Koninklijke DSM NV, Lonza Group AG, Nestlé SA, Amway Corporation, AIE Pharmaceuticals Inc., Bactolac Pharmaceutical Inc., Atlantic Essential Products Inc., Farbest-Tallman Foods Corporation, Pfizer Inc., Aland (Jiangsu) Nutraceutical Co. Ltd., Btsa Biotecnologías Aplicadas SL, The Wright Group Inc., Bluebonnet Nutrition Corporation, Abbott Laboratories, Glanbia plc, Rabar Pty Ltd, DuPont de Nemours Inc., Zhejiang Pharmaceutical Co. Ltd., Zhejiang Xinhecheng Co. Ltd., Nengte Technology Co. Ltd., Adisseo SAS, Alfa Aesar GmbH, Algatechnologies Ltd., Alkemists Labs, Alltech Inc., American Laboratories Inc., Anhui Tiger Biotech Co. Ltd., Aroma NZ Ltd.

Vitamin Ingredients Market 2024 Key Insights:

• The vitamin ingredients market size is expected to see strong growth in the next few years. It will grow to $6.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Rising Incidence Of Chronic Diseases Propels Growth In The Vitamin Ingredients Market
• Innovative 100% Natural Active Vitamin Ingredients Transform The Landscape Of The Vitamin Ingredient Market
• North America was the largest region in the vitamin ingredients market share in 2023

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