New York, United States , March 30, 2023 (GLOBE NEWSWIRE) -- The Global Vitamin D Market Size to grow from USD 1.23 Billion in 2021 to USD 2.40 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.6% during the projected period. The Vitamin D market is anticipated to grow significantly over the predicted period, owing to the growing popularity of vitamin fortification in food products, as consumers in both developing and developed regions prefer products such as functional beverages, dietary supplements, and fortified processed foods that provide additional health benefits. As a result, rising consumer demand for such products is driving the overall vitamin D market in the food and nutraceutical industries forward.
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Vitamin D is a fat-soluble vitamin. Vitamin D is a nutrient that the body requires in small amounts to function properly and stay healthy. Vitamin D helps the body use calcium and phosphorus to build strong bones and teeth. It is fat-soluble (dissolves in fats and oils) and found in fatty fish, egg yolks, and dairy products. Due to a lack of a balanced diet and very little exposure to sunlight, the majority of the world's population is vitamin D deficient. As a result, several government organizations around the world are taking the necessary steps to combat vitamin D deficiency. Furthermore, key market participants such as BASF SE, Xiamen Kingdom way, and Alliance Nutrition Inc. are focusing more on developing improved and enhanced vitamin D-enriched products to meet the growing demand of consumers worldwide. For instance, in response to a petition filed by Kellogg Company, the United States Food and Drug Administration (FDA) announced in January 2023 that vitamin D3 can be used as a food additive in certain circumstances. The rising prevalence of disorders such as osteomalacia in adults and rickets in children, as well as increased food fortification with vitamin D3 as a result of government regulation in many countries, are just a few of the factors driving the vitamin D3 market's expansion. However, the high initial investment required for advanced manufacturing machinery, filling, and packaging to avoid contaminations, and increasing productivity may hamper market revenue growth during the forecast period.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Vitamin D Market Size, Share, and COVID-19 Impact Analysis, by Analog (Vitamin D2, Vitamin D3), by Form (Dry, Liquid), by End Users (Adults, Pregnant Women, and Children), by Application (Feed & Pet Food, Pharma, Functional Food, and Personal Care), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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The vitamin D2 segment is expected to grow at the fastest rate during the projected period.
The global vitamin D market is divided into two categories: vitamin D2 and vitamin D3. The vitamin D2 segment is expected to grow the fastest during the forecasted period. The benefits of vitamin D2, its importance for immunity, and its promotion of bone health by assisting calcium and phosphorus absorption are the reasons for the growth. It is also necessary for muscle and cognitive functions, cell division, and tooth health.
The dry segment dominates the Vitamin D Market and is likely to grow at a considerable growth over the projected period.
The global vitamin D market is segmented into dry and liquid. The dry form segment is expected to account for the majority of the global vitamin D market. This segment's large market share is primarily due to its high solubility; there is an increasing demand for vitamin D in powder and capsule form. However, due to its increasing use in food and beverage applications and the pharmaceutical industry, the liquid form is expected to grow at the fastest rate during the forecast period.
Adults are expected to account for a significant revenue share during the projected period.
On the basis of end users, the global vitamin D market is differentiated into adults, pregnant women, and children. The adult segment is expected to grow steadily in the global vitamin D market over the forecast period. The rising prevalence of many diseases in people over the age of 50, such as osteomalacia, osteopenia, and osteoporosis, as a result of severe vitamin D deficiency, is expected to drive segment growth.
In 2021, the pharmaceuticals segment held the largest market share.
The global vitamin D market is segmented by application into feed & pet food, pharma, functional food, and personal care. The pharmaceutical segment led the global market with a sizable market share. An increase in the number of people suffering from vitamin D deficiency worldwide is expected to fuel the segment market's growth in the forecast years. Furthermore, due to the high utilisation of products in the manufacturing of several functional food and beverages, food supplements, dairy products, and fruit juices and drinks, the functional food and beverage segment is expected to grow the most during the projected period.
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The Asia Pacific region held the largest share of the global vitamin D market.
The Asia Pacific region dominated the market in 2021, with a significant market revenue share, and this dominance is expected to continue throughout the forecast period. The region's consistently rising consumer disposable income, as well as the easy availability of raw materials such as milk, are major factors driving market growth and demand. When compared to other countries around the world, Malaysians have a high vitamin D deficiency. According to the National Health Survey, diabetes mellitus is becoming more common in Malaysia. As a result of increased consumer awareness about the various health benefits associated with vitamin D consumption, the North American region is expected to be the fastest-growing region during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Vitamin D Market include BASF SE, Bio-Tech Pharmacal, Divi's Nutraceuticals, Synthesia, a.s., PHW Group Lohmann & Co., Sichuan Neijiang Huixin Pharmaceutical Co Ltd, Fermenta Biotech Ltd., Dishman Group, Abbott Laboratories, DSM, Zhejiang Xinhecheng Co., Ltd., Xiamen Jindawei Vitamin Co., Ltd., Zhejiang Medicine Co. Ltd, HangZhou Think Chemical Co., Ltd., Kingdomway Nutrition, Inc., McKinley Resources Inc. and Others.
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Recent Developments
In May 2022, ConsumerLab.com, LLC evaluated and approved Bio-Tech Pharmacal's D3-50 (Vitamin D3-50,000 IU). ConsumerLab.com is a leading provider of independent product testing results and information designed to assist consumers and healthcare professionals in identifying the highest quality health and nutrition products.
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