Vitamin D Market is estimated to be US$ 3.08 billion by 2030 with a CAGR of 7.5% during the forecast period
Vitamins, minerals, enzymes,
fatty acids, and proteins, among other dietary supplements, serve to maintain
overall health and well-being by preventing nutritional deficiency disorders
which drives the Vitamin-D Market. Dietary supplement preferences are expanding dramatically as a
result of the global demographic trend of an ageing population, rising
lifestyle-related disorders, and rising healthcare costs. Increased sales of
sports nutrition due to rising fitness trends and sports activity, as well as
new product introductions, are expected to have a substantial impact on the
market. Dietary supplement health claims are receiving increased attention from
regulatory agencies, and the business is becoming more regulated as a result.
Dietary supplements are constantly developing to meet the needs of specialty
populations (pregnant and breastfeeding women, geriatric, and pediatric
nutrition), as well as government fortification projects around the world.
Increased awareness of vitamin supplements has resulted in more positive
attitudes toward the vitamin supplement sector.
Region Analysis:
Vitamin D insufficiency is
common throughout Asia Pacific, notably in South and Southeast Asia. Rickets (a
deformity caused by "soft bones") is quite common in China and is
caused by a lack of vitamin D. Furthermore, rising income levels and
significant consumer demand for nutritional and healthy products are expected
to provide promising prospects for the growth and diversification of the
region's functional food and beverage products, resulting in increased
consumption of vitamin-infused products and, as a result, market growth. Due to
increased demand for animal feed, fortified food items, and simple availability
of raw materials, China and India are two of the most promising areas for
vitamin D manufacturers to expand.
Key Development:
·
Zhejiang Xinhecheng Co., Ltd.
(China) and DSM (Netherlands) inked a contract for the sale and purchase of
cholesterol in January 2019. Vitamin D3 is made from cholesterol. This deal
will assist the organisation in increasing its total capacity and Vitamin D
productivity.
·
Fermenta Biotech Limited
(India) signed a 99-year lease deal with the Gujarat Industrial Development
Corporation (GIDC) authority in Ankleshwar, Sayakha, in January 2019 to acquire
a 40,000-square-meter plot of land for future expansion. The company aims to
commence manufacturing by the end of 2020.
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Segmentation:
The Global Vitamin-D Market accounted for US$
1.50 billion in 2020 and is estimated to be US$ 3.08 billion by 2030 and is
anticipated to register a CAGR of 7.50%. The Global vitamin D market has
been classified into analog, application, end-user, and region.
·
On the basis
of analog, the target market is segmented into vitamin D2 and vitamin D3.
·
On the basis
of application, the global vitamin D market has been bifurcated into functional
food and beverages, pharmaceuticals, animal feed and pet food, and personal
care.
·
On the basis
of end-user, the target market is segmented into children, adults, and pregnant
women.
Competitive
Analysis:
Some of the prominent players operating in the global vitamin D
market include Nestlé S.A., Pfizer, Inc., Koninklijke DSM N.V., ADM Alliance
Nutrition, Inc., Abbott Nutrition Manufacturing Inc., GlaxoSmithKline plc,
Cadila Pharmaceuticals Limited, Danone S.A., Kraft Foods Group, Inc., and
Nature's Bounty, Inc.
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