The Global Vitamin Consumption Market valued at USD 5.18 billion in 2019 and is expected to reach USD 9.10 billion by 2027, at a CAGR of 7.30 % during the projection period. Vitamins are micronutrients essential for the development, repair & metabolism of the human body. Significantly, they must be available in a sufficient amount in the human diet as the human body cannot produce them. Thus, its requirement provides ample scope for the development of vitamin supplying products market. Such products are mainly used in sports nutrition, food & beverage, nutraceuticals, and personal care industries.
Multiple types of vitamins such as vitamins A, B, C, D, E, and K find application in animal feed, food and beverages, cosmetics, pharmaceuticals, and other industries. The Vitamin A market has gained significance as it offers higher returns. Vitamin is useful for ophthalmologic ailments such as night sightlessness, myopia, and cataract. Vitamin D helps control diabetes and hypertension and captivate calcium for maintaining bone health. The Vitamin D segment also provides satisfactory returns. The constant growth of the wellness industry, rising demand for healthier & nutritional foods among consumers worldwide, increasing consciousness about prevalent diseases, rise in per capita disposable income of consumers are the factors stimulating the vitamin ingredients market. Increasing knowledge about lifestyle diseases has further uplifted growth.
Lack of proper awareness concerning the required intake of vitamins through dietary additions hampers the market growth and may pose a significant threat to the product. However, a growing nutritional imbalance among consumers as a result of the intake of junk food and alcoholic beverages, as well as an unhealthy lifestyle, is expected to surge the demand for vitamin products worldwide in the coming years.
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Global Vitamin Consumption Market – Segmentation
Based on the type of vitamin, the vitamin market falls under Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K segments. The Vitamin A segment dominated the market in 2018 with the maximum share. Rising cases of ophthalmic diseases, rise in the elderly population, increasing healthcare expenditure, and the thriving food & beverage sector drive the industry growth. Vitamin A helps in weak growth & development, lowers cancer risk, and cures eye-related ailments such as cataracts, night blindness & shortsightedness, thereby attracting the significant demand for food & personal care products containing vitamin A.
The vitamins market has been segregated into animal feed, healthcare products, food & beverages, and personal care products by the application. The healthcare section captured a significant chunk of the market in 2018. Vitamins have a substantial scope to grow in this segment as nutritional additions and pharmaceutical products due to the increasing shift towards preventive healthcare. Besides, the deficiency of vitamins also triggers requests for vitamin supplements in both developed and developing countries. The food & beverage segment is projected to grow at the highest CAGR. The increasing acceptance and consumption of nutritious food & beverages, the unceasing developments, and new product launches ensure the growth in the vitamin market’s food & beverage segment.
Based on the region, Global Vitamin Consumption Market is segmented by key regions— North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the market share.
Scope of the Report
|Years Considered||Historical data – 2016-2019
Base Year – 2019
Projection – 2020 – 2027
|Facts Covered||Revenue in USD Billion|
|Market Coverage||U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.|
|Product/Service Segmentation||By Type, By Application, By source, and By Region.|
|Key Players||Pfizer, Koninklijke DSM, Nestle, Lonza, Groupe Danone, Amway, Archer Daniels Midland The company, Bluestar Adisseo Company, AIE Pharmaceuticals Inc., and Bactolac Pharmaceuticals, Inc., Glanbia plc, BASF, Vitablend Nederland B.V., SternVitamin GmbH & Co. KG, Farbest-Tallman Foods Corporation, Watson Inc., Zagro, The Wright Group, Rabar Pty Ltd., Adisseo, Showa Denko K.K.|
- Vitamin B
- Vitamin E
- Vitamin D
- Vitamin C
- Vitamin A
- Vitamin K
- Healthcare Products
- Food & Beverages
- Personal Care Products
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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