Industry Analysis
Vitamins are a group of substances that are needed for normal cell growth, function, and development. They are essential nutrients and chemical molecules that an organism need in insufficient quantities. Vitamins are therefore mostly used as components and supplements in a variety of businesses.
Data Bridge Market Research analyses that the vitamins market was valued at USD 6.55 billion in 2021 and is further estimated to reach USD 11.94 billion by 2029, and is expected to grow at a CAGR of 7.8% during the forecast period of 2022 to 2029.
Vitamins Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter’s five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.
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Vitamins Market Dynamics
Drivers
- Rise in the demand for functional and nutritionally enriched processed food products
The nutraceuticals industry has seen a surge in demand for healthful and nutritional products, despite severe market restrictions and declining purchase trends in the food and beverage sector which will further accelerate the growth of the market.
- Increase in the incidence of vitamin deficiencies
Vitamin deficiency and malnutrition are becoming more common which is further anticipated to propel the growth of the vitamins market.
- Increase in the aging population
Vitamin supplements are used by the elderly to prevent diseases associated with ageing which is further expected to drive the market growth.
Opportunities
In addition, the sourcing of natural allergen-free vitamin E is further estimated to provide potential opportunities for the growth of the vitamins market in the coming years.
Restraints/Challenges
On the other hand, the inhibited supply of raw materials for natural vitamins is further projected to impede the growth of the vitamins market in the targeted period. However, the shortage of ingredients and price sensitivity might further challenge the growth of the vitamins market in the near future.
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Industry Segmentation and Size
The vitamins market is segmented on the basis of type, application, source and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Vitamin B
- Vitamin E
- Vitamin D
- Vitamin C
- Vitamin A
- Vitamin K
Application
- Healthcare Products
- Pharmaceuticals
- Food and Beverages
- Animal Feed
- Personal Care
Source
- Synthetic
- Natural
- Plant
- Animal
- Others
Distribution Channel
- Hypermarket
- Supermarket
- Mass Merchandisers
- Specialty Stores
- Others
Market Country Level Analysis
- The countries covered in the vitamins market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Industry Share Analysis
Some of the major players operating in the vitamins market are:
- BASF SE (Germany)
- DSM (Netherlands)
- ADM (US)
- SternVitamin GmbH Co. KG (Germany)
- Glanbia plc (US)
- Lonza (Switzerland)
- Vitablend Nederland BV (Netherlands)
- Zagro. (Singapore)
- Wright Enrichment Inc. (US)
- Adisseo (China)
- Showa Denko K.K. (Japan)
- Farbest Brands (US)
- Jubilant Life Sciences Ltd. (India)
- Vertellus Holdings LLC (US)
Vitamins Market Report Answers the Following Questions:
- What is the current size of the Vitamins Market?
- What are the key drivers and challenges for the Vitamins Market?
- What are the different types of Vitamins Market?
- What are the leading companies operating in the Vitamins Market?
- What is the future outlook for the Vitamins Market?
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