Selbyville, Delaware,, Jan. 10, 2023 (GLOBE NEWSWIRE) --
The vitamin A market valuation is projected to cross USD 905 million by 2032, as reported in a research study by Global Market Insights Inc.
A high prevalence of vitamin A deficiency among younger children across developing countries will drive the market growth. The prevalence of vitamin A deficiency is considerably high across countries like Africa and Southeast Asia. Long-term deficiency of vitamin A can lead to a higher risk of respiratory diseases and infections. It can also be the cause for xerophthalmia and anemia.
Growing health consciousness, especially since the COVID-19 pandemic, has elevated the demand for dietary supplements to boost immunity. Vitamin A is commonly used in dietary supplements usually in the form of retinyl palmitate or retinyl acetate, and beta-carotene. Expanding sales of dietary supplements should support the demand for vitamin A in the pharmaceutical sector.
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The vitamin A market size from feed grade segment is estimated to grow at 5% CAGR from 2023 to 2032. Animal nutrition feed products contain feed-grade vitamin A that is derived from synthetic sources that are cost-effective to produce. Vitamin A acetate is typically turned into dry powder as is more stable, while oily vitamin A acetate is frequently used in feed-grade vitamin A because it is more stable.
Feed-grade vitamin A is highly important to prevent growth issues in animals and protect the epithelium in older animals. As major players like BASF SE, Adisseo, and DSM are extending their presence in emerging countries and spending more on the creation of new vitamin-based products, the feed business is set to boost the market revenue.
Vitamin A market from synthetic segment will surpass USD 840 million by 2032. The synthetic versions of this vitamin include retinoid, beta-ionone, retinyl acetate, and/or retinyl palmitate. Retinol is derived from animal sources like beef liver, salmon, eggs, fish, cod liver oil, and shrimp. It is also highly recommended that retinoid users should refrain from taking additional vitamin A supplements.
Manufacturers of cosmetics and dietary supplements employ synthetic vitamin A in a variety of products. It is a crucial vitamin for skin health as it helps regulate the activities of skin cells. Factors like expanding cosmetics business, improving consumer standard of living, and more spending on cosmetic products should drive the demand for synthetic vitamin A.
Vitamin A market share from food and beverage application will expand at 5.5% CAGR through 2032. In the food and beverage business, vitamin A is primarily employed in food fortification applications which involves the addition of micronutrients into processed foods. The demand for fortified foods and beverages is witnessing a rise due to surging health consciousness among consumers and the prevalence of vitamin deficiencies that can lead to health issues like anemia, scurvy, beriberi, and pellagra.
Sales of vitamins and nutritional supplements are highest in North America, with the United States and Canada accounting as major consumers. The report estimates that the North America vitamin A market is predicted to exceed USD 235 million by 2032. With the growing trend toward healthy living and rising healthcare spending in the U.S., the use of vitamins and nutritional supplements will elevate in the coming years. Availability of herbal supplements is also on the rise owing to increasing entrance of counterfeit items into the market
Some of the leading companies involved in the vitamin A market include BASF, Adisseo, Zhejiang NHU Co. Ltd., DSM, Vitafor NV, and Nutrilo GmbH. These companies are working on strategic developments, collaborations, and partnerships to improve their geographical presence. For instance, in March 2018, DSM and Mixfit announced a strategic agreement to deliver tailored nutrition solutions based on a complete set of health and activity measures. This unique alliance combines DSM's experience in key micronutrients with Mixfit's technological edge to deliver the ability to analyze health data in real-time, allowing for effective nutritional gap-filling and supporting of a healthy lifestyle.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Vitamin A industry 3600 synopsis, 2018-2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Type trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Vitamin A Market Insights
3.1 Industry segmentation
3.2 COVID-19 overview of the world economy
3.3 Industry ecosystem analysis
3.3.1 Profit margin trends
3.3.2 Distribution channel analysis
3.3.2.1 Collaboration/Partnerships
3.3.2.2 Distributors
3.3.2.3 Service Providers
3.3.3 Vendor matrix
3.3.4 Impact of COVID-19 on the industry value chain
3.4 Regulatory Landscape
3.4.1.1 U.S.
3.4.1.1.1 Revision of the Nutrition and Supplement Facts Labels, May 2016
3.4.1.2 Europe
3.4.1.2.1 EU regulation 1169/2011 (EU 2011):
3.4.1.2.2 Regulation (EC) No 1924/2006 (EC 2006):
3.4.1.3 China
3.4.1.3.1 GB 28050—2011, Standard for nutrition labelling of prepackaged foods:
3.5 Technology Landscape
3.6 Raw material trends COVID-19 impact on supply
3.7 Industry best practices & key buying criteria
3.8 Pricing Analysis, by region
3.8.1 North America
3.8.2 Europe
3.8.3 Asia Pacific
3.8.4 Latin America
3.8.5 Middle East and Africa
3.8.6 Cost structure analysis
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 North America: Rising consumer spending on skin care products
3.9.1.2 Europe: Rising concerns for livestock health & food safety
3.9.1.3 Asia Pacific: Growth in dietary supplement industry
3.9.2 Industry pitfalls & challenges
3.9.2.1 Stringent regulations
3.10 Innovation & Sustainability
3.11 Growth potential analysis, 2022
3.11.1 Emerging business model
3.11.1.1 Acquisitions and Divesting
3.11.1.2 Capacity Expansion
3.11.1.3 Patents
3.12 Porter’s analysis
3.12.1 Bargaining power of suppliers
3.12.2 Bargaining power of buyers
3.12.3 Threat of new entrants
3.12.4 Threat of substitutes
3.13 PESTEL analysis
3.14 COVID-19 impact on vitamin A market, by application
3.14.1 Dietary supplements
3.14.2 Food & beverages
3.14.3 Animal feed
3.14.4 Personal care & cosmetics
3.15 Global retinyl palmitate industry overview
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
