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Market Research Report

Global Vitamin Ingredient Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Published On : 2017-08-21 Report Page : 180 Category:Food Beverages

Global Vitamin Ingredient Market Outlook

Market Overview

Vitamins are the nutritional organic compound that is essential for growth as well as remove deficiencies in body. They are consumed in small amount because they can’t be symphonized with the body. In other words vitamins are a clutch of chemical compounds or ingredients with a certain minute structure to fulfill the capability of vitamin activity. These ingredients are known as vitamers. Vitamers are two or more than two compounds that is use to remove a particular vitamin deficiency.

There are currently thirteen different types of vitamin with multiple vitamers. For examples vitamin A contains 6 vitamers. Vitamin B1 contains three vitamers. Vitamin C contains more than four different types of vitamers and so on. Classification of vitamin can be done in two types which are fat soluble vitamins and water soluble vitamins. Fat soluble vitamins are diffused in fats and are stored in liver so that they can be used when needed. On the other side water soluble are the vitamins that are not stored but are consumed with food and then excreted as waste.

Global vitamin market contains a market size of approximately USD 7.5 billion in 2016 and is expected to reach at approximately USD 9.5 billion by 2021. Water soluble vitamin holds the market share of more than 50% in global vitamin market. Global market of vitamin ingredients is poised to grow at a CAGR of 5.0% over the forecast period (2016-2024).

There are certain factors that drive the growth of market. They are the growing prominence of preventive healthcare, growing awareness about dietary supplements etc. However there are many restraints that stop the market from growing such as alternatives of vitamins such as fish oil, high cost of some of the products etc.

Market Segmentation

  • On the basis of products
    • Vitamin A
    • Vitamin B
    • Vitamin C
    • Vitamin D
    • Vitamin  E
    • Vitamin K
  • On the basis of mode of consumption
    • Pills
    • Powders
    • Creams
    • Liquids
  • On the basis of application
    • Pharmaceuticals
    • Food and beverage
    • Cosmetics
    • Animal feeds
    • Others.
  • On the basis of Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
    • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}
    • Rest of the World{Market Share (%), Market Size (USD Billion)}

Market Size and Forecast (2016-2024)

The market of vitamin ingredient contains 50%-60% of total market of vitamin which reached approx USD 7.5 billion in 2016 and will reach at 9.5 billion by 2021. The global vitamin ingredient market is said to have the market size of USD 5.9 billion in 2016 and will be expected to grow at USD 8.5 billion in 2024 at a promising CAGR of 5.0% over the forecast period i.e. 2016-2024.

On the basis of products, the market is segmented into vitamin A, vitamin B, vitamin C, vitamin D, Vitamin E and Vitamin K. Vitamin B holds the largest account of share in the market due to 8 number of groups present namely B1, B2, B3, B5, B6, B7, B9 and B12 which helps in preventing number of disease such as scurvy, osteoporosis etc.

On the basis of application, animal feeds are accounted for largest market share of around 45%, globally in 2016. In order to ensure the proper health of animals and also to maintain the standardization of products, animal feed segment is dominating the global vitamin ingredients market. Asia-Pacific vitamin ingredients market is anticipated to expand at a CAGR of 7% during the forecast period due to rising personal disposable income of the population in developed countries and rising awareness of dietary supplements.

Key Trends and Growth Drivers

The market of vitamin ingredients is driven by some boosting factors which propels the growth of global vitamin ingredients market. They are:

  • Rise in ageing population
  • Key players are increasing the product offerings in developing countries on the back of rising demand for multiple vitamin ingredients based products.
  • Increasing use of vitamin B in animal feeds and healthcare segments.

Market Restraints

There are also some hurdles that place the challenges in front of vitamin ingredient market players. They are:

  • Consuming more amounts of vitamins than needed may work against benefits taken from vitamin.
  • Availability of alternatives such as fish oils.

Key Findings

  • In the former days it has been found that an extra consumption of Vitamin B3 will help in preventing of birth defects.
  • Recently, International vitamin corporation, a U.S based company has acquired Perrigo’s US vitamins and mineral supplement business for the innovations of different vitamin products

Key Market Players

  • BASF
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • Bayer
  • Amway
  • DSM
  • Dupont
  • Lonza
  • AIE Pharmaceuticals
  • Aland (Jiangsu) Nutraceuticals
  • Atlantic Essential Products
  • Bactolac Pharmaceutical

Scope Background

Market Synopsis

Market Segmentation

Global vitamin ingredients market is segmented as follows:

  • By product Basis (Market Size, Demand Analysis and Growth Analysis)
  • By mode of consumption basis  (Market Size, Demand Analysis and Growth Analysis)
  • By application basis (Market Size, Demand Analysis and Growth Analysis)

Global vitamin ingredients market report covered insights of below mentioned regions:

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

  • Risk Factors
  • Regional Variations
  • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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