The global vitamin D market share is expected to grow 1.6 times during the forecast period, posing an absolute growth of 62%.
The vitamin D market is expected to grow at a CAGR of 8.4% during the period 2020−2026.
Key Highlights Offered in the Report:
1. The global vitamin D market is expected to pose an absolute growth of over 62% during the forecast period driven by the demand for nutricosmetics, fortified foods, and growing feed applications.
2. By form, the dry segment was dominant, contributing over 72% of the total market share in 2020.
3. The superior bioavailability of vitamin D3 is driving the segment which is expected to generate incremental revenue of over $670 million during the forecast period.
4. The pharmaceutical segment is expected to retain its market leader position in terms of application as the contribution is expected to surpass 50% by 2026.
5. The personal care industry is considered as the area for new opportunities where the segment is expected to grow at a CAGR of over 7% by 2026.
6. The aging population, prevalence of vitamin D deficiency levels, and growing health consciousness is expected to drive the market for vitamin D in APAC.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by analog, form, application, and geography
• Competitive Landscape – 5 key vendors and 15 other vendors
Vitamin D Market – Segmentation
• The high demand for concentrated and pure forms in dietary supplements is increasing the preference for D3 vitamins. The APAC region is estimated to be the fastest-growing region during the forecast period because of the high prevalence of vitamin D deficiency in the population.
• While the boom in nutricosmetics is expected to support the pharma industry, proven scientific dividends of vitamin D in the skin and body care are enforcing the application in cosmetic creams, moisturizers, and oils. Animal feed and pet food industries have remained as other dominant end-users after the pharmaceutical industry as vitamin D has become a key ingredient for premixes.
• Dry vitamin D accounts for most market share as this form increases stability and offers extended shelf life. Vitamin D3, which is the largest selling segment, is highly manufactured in the dry powder form for feed manufacturing as a premix and dietary supplements.
Vitamin D Market by Analog
• Vitamin D2
• Vitamin D3
Vitamin D Market by Form
Vitamin D Market by Application
• Animal Feed and Pet Food
• Functional Food and Beverages
• Personal Care
Vitamin D Market – Dynamics
The rise in sales of vitamin supplements has proven that their intake is one of the most effective ways to maintain the levels of vitamin D2 and D3. Vendors source vitamin D2 from plants and fungi whereas D3 is sourced from animals. Infants with dark skin or minimum exposure to sunlight and who rely on breastfeeding are a major end-user segment. This can be more significant if they have a dark skin or minimum sunlight exposure. Organizations such as The American Academy of Pediatrics recommend the intake of 400 international units (IU) of vitamin D orally for all breastfed infants. Vitamin D supplementation also reduces the risk of influenza infections in children. BioGaia, Enfamil, Smarty Pants, and Nature’s Bounty are some of the key players operating in the vitamin D supplements market that focus on infants, kids, and adults.
Key Drivers and Trends fueling Market Growth:
• Increasing Prevalence of Vitamin D Deficiency
• Applications in Feed Industry
• Increasing Demand for Nutricosmetics and Vitamin Formulations
• Outbreak of Infectious Diseases
Vitamin D Market – Geography
Europe was the largest market for vitamin D in 2020. Changing lifestyle, increase in usage of nutricosmetics, and the concentrated presence of pharmaceutical manufacturers in the region is expected to sustain the growth in the coming years. Germany, the UK, France, Spain, and Italy were the major revenue drivers in 2020, along with the presence of several end-user industries. Switzerland, Netherland, Denmark, and Belgium are other significant markets for growth in the animal feed, cosmetics, and supplement segments. The European region is expected to pose an absolute growth of 59% during the forecast period. More than 55% of the growth is expected to come from the markets in Germany, France, and Italy
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Vitamin D Market by Geography
• North America
• South Korea
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• BASF SE
• Fermenta Biotech Limited
• Dishman Group
• Zhejiang Garden Biochemical High-Tech Co Ltd
Other Prominent Vendors
• Synthesia, a.s
• McKinley Resources Inc.
• NewGen Pharma
• Sichuan Neijiang Huixin Pharmacy CO. Ltd.
• HangZhou Think Chemical Co., Ltd.
• Divi’s Nutraceuticals
• Tocris Bioscience
• Spectrum Chemical Manufacturing Corp.
• Stabicoat Vitamins
• Xiamen Kingdomway Group Company
• Zhejiang NHU Co. Ltd.
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Source: EIN Presswire