According to the new market research report “Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), Iu Strength and Region – Global Forecast to 2025”, published by MarketsandMarkets™
The Vitamin D market is estimated to account for about USD 1.1 billion in 2019 and is projected to reach a value of nearly USD 1.7 billion by 2025, growing at a CAGR of 7.0% from 2019 to 2025.
By analog, the vitamin D3segment is estimated to account for the largest share in the vitamin D market in 2019
Among the analogs in the vitamin D market, vitamin D3 was the dominant analog. Vitamin D3 is an essential micronutrient required for the maintenance of the bones and the aversion of osteoporosis and rickets. Vitamin D3 has several functions and has its application in the food, feed, healthcare, and personal care industries. The use of vitamin D3 in the food & beverage industry is closely regulated to prevent the possibility of an overdose since excessive consumption is associated with toxicity.
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The vitamin D market is witnessing strong growth due to an increase in the prevalence of vitamin D deficiencies
The prevalence of vitamin D deficiencies in several countries is one of the major factors fueling the growth of vitamin D market. According to the estimates of the Centers for Disease Control and Prevention (CDC), vitamin D deficiency is prevalent in 8.0% of Americans. Deficiency of vitamin D causes rickets in children and osteoporosis in adults. It has also been associated with common cancers, hypertension, and infectious diseases. Children need vitamin D for the development of skeletal structure and tooth enamel. The deficiency of vitamin D in infants can have adverse consequences such as growth failure, ethargy, irritability, rickets, and a predisposition to respiratory infections during infancy.
The vitamin D market has been growing in accordance with the rise in demand and consumption of feed around the world. The feed industry is witnessing an upward trend in demand for enriched feed products, which supports the demand for nutritional additives such as vitamin D. The key driving factors of the vitamin D market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused by vitamin D deficiency. Food fortification is one of the major trends, which is fueling the vitamin D market in the functional food & beverage industry.
The key driving factors of the vitamin D market include the increasing consumer concerns regarding maintaining a balanced diet and the growing consumer awareness about several diseases caused by vitamin D deficiency. Food fortification is one of the major trends that is fuelling the vitamin D market in the functional food & beverage industry. Vitamin D is gaining traction in the healthcare and pharmaceutical industry due to its wide demand in nutritional supplements, owing to its various bone health benefits. Consumers are increasingly shifting their preference toward on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their increasingly busy lifestyles, the rise in healthy snacking trend, and greater awareness about vitamin-fortified food & beverage products, thereby driving the market for vitamin D.
On the basis of end-user, the market segmentation includes adults, pregnant women, and children. The adult’s segment is estimated to dominate the vitamin D market. Vitamin D deficiency is extremely prevalent in adults more than 50 years of age. Severe deficiency results in osteomalacia, osteopenia, osteoporosis, and osteoarthritis, which can lead to deep bone pain, poor growth, fractures, and deformities of the skeleton such as bowed legs; the curvature of the spine; and thickening of the ankles, wrists, and knees.
Based on IU strength, the market segmentation includes 500,000 IU, 100,000 IU, and 40 MIU. Vitamin D3 40 MIU is also referred to as “vitamin D3 crystalline” and has a potency of 40 million international units per gram, the highest potency of vitamin D3. The product is majorly a white crystalline powder. Vitamin D3 of 500,000 IU is a free-flowing powder form of vitamin D3, which has a potency of 500,000 IU/gram and is practically insoluble in water. The 40 MIU type is more widely preferred IU strength in pharmaceuticals applications and accounted for the largest value share of the market in 2018. The vitamin D of 500,000 IU is majorly consumed in feed products.
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Asia Pacific is estimated to dominate the vitamin D market in 2019
The vitamin D market in the Asia Pacific is projected to witness the fastest growth between 2019 and 2025. The market in this region is dominated by China. Asia Pacific is witnessing the highest growth due to the rapid economic expansion. The region is attracting investors for setting up production facilities due to the ease of availability of raw materials, skilled labor, land, and equipment at a lower cost.
Key Market Players:
The key players in vitamin D market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), Koninklijke DSM N.V. (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). The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements in the last few years to meet the growing demand for vitamin D.