31 October 2019
Visiongain has launched a new Consumer goods report Vitamin Ingredients Market Report 2019-2029 Forecasts by Type (Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K), by Form (Solid, Liquid, Powder), by Application (Packaged and processed food and beverages, Cosmetics, Pharmaceuticals, Animal feed, Others) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global vitamin ingredients is expected to grow at a lucrative rate during the forecast period. Some of the key factors propelling the market include the increasing vitamin deficiencies, growing awareness regarding the health benefits of vitamin supplements, and rise in disposable income in developing countries of the region. The vitamin ingredients can be segmented based on type, form, application, and region.
Vitamins are essential nutrients which help in growth and are necessary for the proper functioning of the body. Consumers are now concerned regarding their vitamin uptake, which is directly propelling the demand for vitamin based supplements. In addition, increasing awareness regarding the health benefits of these vitamins are thrusting the market growth. By type, vitamins can be segmented into vitamin A, B, C, D, E, and K. These vitamins are used across industries including pharmaceuticals, food and beverages, cosmetics & beauty, animal feed, and other industries. Vitamin D segment is a highly lucrative market driven by its benefit to aid calcium absorption for bone health and preventive effect of onset of diabetes, migraine, PCOS, cholesterol, and cancer. By application, the segment of food and beverages is expected to capture leading share of the revenue driven by high usage of these products in the industry and availability of wide variety. Vitamin based products are also been widely used in beauty and cosmetics industry.
Asia Pacific is expected to dominate the global vitamin ingredients market and the region is anticipated to witness the fastest growth during the forecast period owing to a high population base, growing awareness, and availability of multiple local players. North America is expected to capture the second position in the global Vitamin ingredients market. Factors such as well-established healthcare industry and high demand for vitamin based drugs and food products are responsible for the share of the market.
The market is highly competitive due to presence of several players. Major vitamin ingredient manufacturers and suppliers are based in North America (U.S.), APAC (China, India), and LATAM (Brazil). Key players such as Atlantic Essential products, Inc., Archer Daniels Midland Corporation, Amway, BASF SE, AIE Pharmaceuticals, Koninklijke DSM N.V. are currently dominating the market. These major companies are increasingly focusing on research and development activities so as to gain competitive advantage. Few of other companies operating in the market include GNC Holdings, Bactolac Pharmaceutical Inc., Lonza Group, DuPont, Wright Enrichments Inc., Farbest Brands, Nutrilo, Pfizer, BI Nutraceuticals.
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