Vitamins ingredient market is to garner USD 8.1 billion by 2025 and to grow at a CAGR of 4.90% over the foremost time span. Different types of vitamins need different ingredients to build up. For example, vitamin C also known as ascorbic acid is made up of oxygen, carbon, and hydrogen which are natural resources. Vitamins are not produced in the human body naturally and those are to be taken through dietary supplement or food.
- Major factors driving the demand of the market are increasing prevalence to stay fit and healthy by taking dietary supplements and growing demand for the production of multivitamins with high quality. Also, the rise in the awareness programs towards the benefits of vitamins and its functionality in the human body is accelerating the demand of the market.
- However, fluctuations in the availability of raw materials are increasing the prices of the final product which is hampering the growth of the market. Strict rules and regulations by the government are degrading the demand of the market.
- The growing number of health disorders along with rising population across the world is solely surging growth opportunities for the market. Rise in the disposable income in urbanized areas is greatly influencing the growth of the market.
Vitamin A is anticipated to have significant growth opportunities in the coming years
On the basis of product, the market is segmented into vitamin A, vitamin B, vitamin C, vitamin D, vitamin K, vitamin B1, vitamin B2, vitamin B3, vitamin B5, vitamin B6, vitamin B7, and vitamin B12. Vitamin A is holding the highest shares of the market. Increasing expenditure on healthcare and rise in the support from the government are fueling the growth of the market.
Food & beverages are expected to have the highest shares of the market during the period of 2018 to 2025
Based on the applications, the market is divided into food & beverages, nutraceuticals, sports nutrition, and cosmetics. Food & beverages are growing at a faster rate from the past few years. Growing prevalence for the manufacturing of quality food products is making the growth of the market.
North America is witnessed to lead the dominant shares of the market
Regionally, the market is led by North America by owing to increasing capital income and also acceptance of advanced technology and introducing various food products which are good for health. Europe and the Asia Pacific are accounted to lead the highest shares of the market with the rise in the demand for personal care products which are having good results. Middle East & Africa are deemed to have a slight inclination in the growth graph in the foreseen years.
Some of the key players in the vitamin ingredients market are Atlantic Essential Products Inc., Bactolac Pharmaceutical Inc., AIE Pharmaceuticals Inc., Archer Daniels Midland Co., Amway, Bluestar Adisseo Co., Lonza Group, Koninklijke DSM N.V., E. I. du Pont de Nemours and Co., and BASF SE.
This research report includes following segmentation for the Vitamin Ingredients Market size and forecast 2019 - 2025
Vitamin Ingredients Market Analysis - By Type
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
Vitamin Ingredients Market Analysis - By Application
- Packaged Food
- Animal Feed
Vitamin Ingredients Market Analysis - By Region
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa