The Global Vitamins Market View:
The global vitamins market size was valued at US$ 5.16 billion (revenue) in 2016 and is expected to expand at a CAGR of 4.98% in terms of revenue during 2017 – 2025, Vitamins are organic compounds, which is essential for the normal growth and development of an organism. Vitamins are classified as water soluble and fat soluble vitamins. Increasing consumer awareness about wellbeing in North America and Europe is the key factor of the growth of the global vitamins market during 2017-2025. According to Coherent Market Insights---the market for vitamins is expanding at a CAGR of 4.98% during the forecast period. Rapidly increasing number of elderly people across the world, is in turn projected to propel the market for vitamins during the forecast period. As, with age the body finds difficulty to absorb adequate amount of nutrients from the food, also the elderly people primarily suffer from vitamins D, which can be easily obtained by exposure to sunlight. Also, increasing incidence of lifestyle diseases such as deficiency of vitamins, night blindness, digestive disorder and osteomalacia are expected to fuel the growth of the market for vitamins.
Vitamins are primarily extracted from two sources, namely, plant and animal sources. The increasing preferences for food supplements to fulfill the required needs, which in turn is expected to boost the market for vitamins. Moreover, milk, yoghurt, cheese are also extracted from animals which are rich in various kind of vitamins. The animal source segment is dominating the global vitamin market in the last five years and is expected to retain the trend during the forecast period. However, the plant source is also gaining traction, due to the change in eating habits and consumer preferences for green vegetables and fruits.
North America dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for vitamins in various end-use industries such as food & beverages and pharmaceuticals, due to rise in consumer awareness and stringent government regulations over following years is the major driving force to position North America as the largest region in the global vitamins market. For instance, in June 2007, U.S. Food & Drug Administration (FDA), introduced dietary supplement of "current Good Manufacturing Practice" (cGMP), this regulations forces the manufacturers to evaluate their products through testing identity, purity, strength, and composition. Moreover, Europe market is expected to experience significant growth, during the forecast period.
This report segments the global vitamins market on the basis of source, product types, end use industry and distribution channel. On the basis of source types, the market is segmented as plant and animal source. On the basis of product type, the global vitamins market is segmented into vitamin A, vitamin B, vitamin C, vitamin D, vitamin E and vitamin K. On the basis of end use industry, the global vitamins market is segmented into food & beverages, personal care, animal feed, pharmaceuticals and others. Also, on the basis of distribution channel, the global vitamins market is segmented into, hypermarket, supermarket, mass merchandisers, specialty stores and others. Moreover, vitamin B is the largest product segment, accounting for over 57.1% share of the global vitamins market in 2016, while, vitamin E is projected to be the fastest growing product segment and expected to grow at a CAGR of 5.06% in terms of revenue during the forecasted period.
Key features of the study:
This report provides in-depth analysis of the global vitamins market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017 – 2025), considering 2016 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
The report takes into account the various types of vitamins involved in manufacturing different product types, analyzing the market value and growth (%) during the forecast period
It includes insights on the largest technology used to manufacture different types of vitamins across the globe
It profiles leading players in the global vitamins market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies and future plans
Key companies covered as a part of this study include Adisseo France S.A.S., Archer Daniels Midland Co., BASF SE, CSPC Pharmaceuticals Group Limited, Lonza Group Ltd., North China Pharmaceuticals Corporation, Pharmavite LLC, Zhejiang Hangzhou Xinfu Pharmaceutical Co. Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, technology upgrade, market expansion, and marketing tactics
The global vitamins market report caters to various stakeholders in this industry, including investors, raw material manufacturer, product manufacturer, end-users, distributors, new entrants, and financial analysts
Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the vitamins market