Vitamins Market 2017-2025 Industry Analysis and Future Insights
Vitamins Market Size and Growth Rate:
The global vitamins market size was valued at US$ 5.16 billion (revenue) in 2016 and is expected to expand at a CAGR of 4.98% in terms of revenue during 2017 – 2025.
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Vitamins Market Overview:
The Vitamins market in Asia has significant growth from the recent years and will continue the same in the coming years. Vitamins play a crucial role in human body to have a proper metabolism. The intake of the vitamins through diet is a mandatory for every individual. Vitamin A, B, C, D, E and K are the most common vitamins than others. Vitamin A deals with the growth of cells and tissues. B complex vitamins function as enzyme cofactors, Vitamin D with the metabolism of bones and some other organs. The intake of vitamins should be in a balanced form, not excess and deficient, which may lead to illness.
Vitamins Market Growth Drivers and Restraints:
The change in lifestyle and rising demand for the consumption of the meat is mainly accelerating the growth of the Asian market. In addition, the growing prevalence of vitamin deficiencies is also propelling the market demand. Furthermore, the increasing disorders due to the lack of required vitamins, rise in the healthcare spending, and the government supportive initiatives for the healthy lifestyle are also expected to fuel the market demand in the Asian countries.
However, the lack of sufficient knowledge regarding the intake of the balanced vitamins is restraining the growth of the market. The fluctuations in the availability of natural resources for manufacturing the diet supplementary products is a challenging factor in the regional market.
The continuous research on developing the quality products in the pharmaceutical company is lucratively surging the growth opportunities for the market. The shifting trend towards the functional and nutritional food products is greatly impacting the Asian vitamins market.
Geographic Insights of the Vitamins Market:
Asia Pacific is dominating the world vitamins market with highest revenue shares. The increasing population and rise in the awareness towards health are certainly fueling the growth of the market. Additionally, the increased supply of the dietary food products and the rise in the adoption of meat and dairy products consumptionfrom emerging economies of India, China, and Japan, are also supporting the rapid expansion of the vitamins market in this region.
Key Players of the Vitamins Market:
Key companies include Adisseo France S.A.S., Archer Daniels Midland Co., BASF SE, CSPC Pharmaceuticals Group Limited, Lonza Group Ltd., North China Pharmaceuticals Corporation, Pharmavite LLC, Zhejiang Hangzhou Xinfu Pharmaceutical Co. Ltd.
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Vitamins Market Key Segmentation:
By Source:
- Plant
- Animal
By Type
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
By End User:
- Food and Beverages
- Personal Care
- Animal Feed
- Pharmaceutical
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