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The vitamin ingredients market size is forecast to increase by USD 1.41 billion at a CAGR of 5.53% between 2023 and 2028. The market is witnessing significant growth due to the increasing prevalence of neurological functions-related disorders and deficiency-related disorders. Malnutrition, particularly in developing countries, is a major driver for this market. The demand for vitamin supplements in meat and dairy products is also increasing, as consumers seek to ensure adequate nutrient intake. Product innovations, such as natural sources of Vitamin E from plants and animals, are gaining popularity in the organic haircare, skincare, and cosmetics industries. Increased research and development expenditure on animal feed and regulatory control on supplement usage limits and packaging are also contributing to market growth. Key trends include the use of natural sources for vitamin production and the growing demand for organic and natural products.
The market for vitamin ingredients has gained significant traction in recent years due to the growing awareness of nutritional deficiencies and the importance of preventive healthcare. These organic compounds, also known as vitamers, play a crucial role in maintaining optimal health and preventing various disorders. Vitamers are naturally occurring organic substances essential for the normal growth, development, and maintenance of the human body. They can be broadly classified into two categories: water-soluble vitamers and fat-soluble vitamers. Water-soluble vitamers, such as Vitamin C and the B complex vitamers, are essential nutrients that our bodies cannot produce in sufficient quantities.
Vitamin K is essential for blood clotting and is used in the pharmaceuticals industry to treat various disorders related to blood clotting. The health consciousness trend and the growing focus on preventive healthcare have led to an increased demand for natural sources of vitamers. Fruits, vegetables, and other plant-based sources are rich in various vitamers and are increasingly being used as natural alternatives to synthetic vitamin supplements. In conclusion, the market is a dynamic and growing industry driven by the increasing awareness of nutritional deficiencies and the importance of preventive healthcare. The market is diverse, with various applications in the pharmaceuticals industry, animal feed industry, and nutritional supplements market. The demand for natural sources of vitamers is on the rise, making plants and animals important sources of vitamin ingredients.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2017-2022 for the following segments.
The vitamin B segment is estimated to witness significant growth during the forecast period. Vitamin B, also referred to as niacin and nicotinic acid, is an essential organic compound that plays a crucial role in various metabolic processes in both human and animal bodies. This vital nutrient facilitates the efficient functioning of enzymes, contributing to the release of energy from carbohydrates and fat, the breakdown of amino acids, and the transport of oxygen and nutrients. Manufacturers of vitamin ingredients produce this essential nutrient for various industries, including pharmaceuticals, animal feed, and nutritional supplements. In the healthcare sector, vitamin B is essential for controlling and reducing cholesterol levels, preventing disorders such as Beriberi and heart-related issues. Public health agencies and health regulators stress the importance of addressing vitamin deficiencies in the population, particularly among high-risk patients and those experiencing age-related issues.
Further, the pharmaceutical and nutritional supplement industries are major consumers of vitamin B ingredients, with the former using it in the production of therapeutic drugs and the latter in the formulation of dietary supplements. In the animal feed industry, vitamin B is added to animal feed to ensure proper growth and development, as well as to maintain optimal health. In conclusion, vitamin B is an essential nutrient that plays a critical role in maintaining health and preventing various disorders, particularly in the eyes and heart. Its production and utilization span across multiple industries, including pharmaceuticals, animal feed, and nutritional supplements, making it a vital component of healthcare systems and public health initiatives.
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The vitamin B segment accounted for USD 1.07 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the US and Canadian markets, the increasing awareness among consumers about the importance of vitamins in their diet, coupled with rising disposable income levels, is fueling the expansion of the market. Key players in this industry are implementing strategies such as collaborations with online retailers like Walmart and Amazon to broaden their customer base. The substantial number of internet users and well-developed distribution networks for dietary supplements in the US are also contributing to the market's growth. Manufacturers are focusing on broadening their product offerings, which includes powder formulations, dosage forms such as gummies, chewable tablets, and liquid formulations, to cater to diverse consumer preferences.
Additionally, the market is making inroads into various industries, including Foods and Beverages for nutritional value, therapeutic purposes in pharmaceuticals, livestock and poultry feed, haircare, and beauty products, as well as nutraceuticals.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of vitamin deficiency is the key driver of the market. Vitamin ingredients, which include vitamins, organic compounds derived from naturally occurring vitamins, play a crucial role in maintaining optimal health. These essential nutrients can be sourced from various foods such as fruits, vegetables, and animal-based sources. However, due to hectic work schedules and lifestyle changes, many consumers struggle to consume sufficient quantities of these nutrient-dense foods, leading to potential vitamin deficiencies. Deficiencies in vitamin ingredients can result in various health issues, including weakened immunity and diseases such as pellagra, dermatitis, dementia, and diarrhea. To address these concerns, an increasing number of consumers are turning to vitamin supplements. The growing awareness of the preventative benefits of vitamin supplements in mitigating the risk of lifestyle diseases is driving the expansion of The market.
Water-soluble vitamers, including vitamin C and the B-complex vitamins, and fat-soluble vitamers, such as A, D, E, and K, are essential for various bodily functions. Proper absorption of these vitamers is crucial for nourishing the body and maintaining overall health. By providing essential nutrients that may be lacking in one's diet, vitamin supplements can help bridge the gap and contribute to a healthier lifestyle.
An increase in R&D expenditure on animal feed is the upcoming trend in the market. The market is experiencing significant growth due to the increasing awareness of neurological functions and the prevention of deficiency related disorders. Malnutrition continues to be a concern, driving demand for vitamin supplements in meat and dairy products. Product innovations in the natural vitamin E segment are gaining popularity in organic haircare, skincare, and cosmetics. Sustainable production methods from natural sources, such as plants and animals, are a focus for companies. Rigorous research and development (R&D) investments and the implementation of new technologies are key trends propelling market expansion. Major players in the industry are dedicating resources to create cost-effective, advanced vitamin solutions. In-house R&D divisions are enabling the launch of novel products and technologies, contributing to market growth.
Regulatory control on supplement usage limit and packaging is a key challenge affecting the market growth. In the United States, the market caters to various industries, including food and beverages, animal feed, and pharmaceuticals. The FDA's Center for Food Safety and Applied Nutrition (CFSAN) and Center for Veterinary Medicine (CVM) regulate the use of vitamins in human food and animal feed, respectively, under the Federal Food, Drug, and Cosmetic Act (FD&C Act). Vitamin B supplements, exceeding the Recommended Dietary Allowances (RDAs), can lead to side effects such as flushing. Prescription Vitamin B3 supplements, available in extended-release forms, mitigate this issue by ensuring gradual absorption in the body. The US market for vitamin ingredients witnesses significant demand due to their essential role in preventing and managing chronic medical ailments, such as cardiovascular diseases, diabetes, eye disorders, and signs of aging.
Additionally, vitamins are increasingly used in functional food products catering to the geriatric population, further fueling market growth. Heat strokes and other health concerns necessitate the use of vitamins in food and beverages, ensuring overall consumer health and well-being. The market's expansion is further driven by the increasing prevalence of chronic medical ailments and the growing awareness of the importance of maintaining optimal vitamin intake for good health.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AIE Pharmaceuticals Inc.: The company offers vitamin ingredients such as retinyl acetate, cholecalciferol, and dl-alpha tocopheryl acetate.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Vitamin ingredients are essential organic compounds that play a vital role in nourishing the body and maintaining overall health. These vitamers are naturally occurring in fruits, vegetables, and animal-based sources. They are essential for preventing and treating various nutritional deficiencies, including water-soluble vitamers like Vitamin C and B complex, and fat-soluble vitamers such as Vitamin A, D, E, and K. Vitamins are crucial for various bodily functions, including digestion, neurological functions, energy metabolism, immune function, vision, skin health, and bone health. Deficiencies in these vitamins can lead to chronic medical ailments, such as cardiovascular diseases, diabetes, eye disorders, signs of aging, heat strokes, and malnutrition.
Additionally, the market caters to various industries, including food and beverages, animal feed, pharmaceuticals, and nutritional supplements. The market is driven by the increasing health consciousness and preventive healthcare trends, with a focus on the antioxidant properties of vitamins for immune health and anti-aging benefits. Natural sources of vitamins include plants, animals, and fortified foods and beverages. Product innovations in the market include natural Vitamin E, organic haircare, skincare, and cosmetics, as well as tablets and capsules, powders, and liquid formulations for convenience and ease of consumption. Dosage forms include gummies, chewable tablets, and food and beverages with enhanced nutritional value for therapeutic purposes.m The market serves various end-users, including the livestock and poultry industry, and caters to high-risk patients and the geriatric population. Health regulators and public health agencies play a crucial role in ensuring the safety and efficacy of vitamin ingredients in various applications.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2017-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.53% |
Market growth 2024-2028 |
USD 1.41 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.13 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AIE Pharmaceuticals Inc., Atlantic Essential Products Inc., Bactolac Pharmaceutical Inc., BASF SE, Bluebonnet Nutrition Corp., CSPC Pharmaceutical Group Ltd., Foodchem International Corp., Glanbia plc, Hangzhou Focus Corp., Kirkman Group, Koninklijke DSM NV, LOHMANN and Co. AKTIENGESELLSCHAFT, Lonza Group Ltd., Microbelcaps S.A., Northeast Pharmaceutical Group Co. Ltd., Nulab Inc., ParkAcre Ltd., Private Label Nutra, TNN Development Ltd., and Triveni Interchem Pvt. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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