The Vitamin D Market size is estimated to be valued at USD 1.3 billion in 2022 and is projected to reach USD 1.9 billion by 2027, recording a CAGR of 7.1% during the forecast period in terms of value. Increasing consumption of healthy products due to the increasing health and wellness trend has driven the demand for healthy functional ingredients such as vitamin D for use in foods and beverages in these countries. Furthermore, an increase in expenditure by consumers on healthcare and food & beverage products to compensate for vitamin D deficiencies has also driven the demand for vitamin D in these countries. The increasing prevalence of chronic lifestyle diseases and increasing acceptance of products with additional nutrients and ingredients among consumers are projected to drive market growth during the forecast period.
Asia Pacific accounted for the largest share in the global vitamin D market. According to the International Osteoporosis Foundation (IOF) estimates, more than 50.0% of all osteoporotic fractures will occur in Asia in 2050. China is expected to be affected the most due to its large population of seniors. By 2050, the Chinese population is projected to decrease slightly to 1.3 billion, but those over 50 years will reach almost half (49.0%) of the total population. Osteoporosis, a common chronic disease among the geriatric population, has become one of the top four health problems in this region. Therefore, the region has witnessed an increase in chronic disease incidences, thereby driving the market for healthcare products and fortified food & beverages with contents of essential micronutrients such as vitamin D.
Moreover, China is estimated to be the largest producer, consumer, and exporter of vitamin D in the world. According to the statistics from the China Pharmaceutical Industry Association (CPIA) and China Feed Industry Association (CFIA), China’s vitamin production accounted for ~70.9% of the world’s total output in 2017. Along with the local manufacturers, key global players such as DSM (Netherlands) and BASF SE (Germany) have also established their production & distribution facilities and distribution channels for vitamin D in the country.
Key players in this market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), DSM (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India).