Market Research Report
Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), and Region-Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||724027|
|Published||Content info||145 Pages
Delivery time: 1-2 business days
|Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), and Region-Global Forecast to 2023|
|Published: October 10, 2018||Content info: 145 Pages||
The vitamins market is estimated to be valued at USD 5.18 billion in 2018 and is projected to reach 7.35 billion by 2023, at a CAGR of 7.3%. The market is driven by growth in the demand for functional and nutritionally enriched processed food products, the prevalence of vitamin deficiencies, and feed fortification due to a rise in global meat & dairy product consumption. The constrained supply of raw materials for natural vitamins, coupled with high costs, restrains the market growth of vitamins.
The vitamin B segment is estimated to be the largest in 2018 in the vitamins market. Vitamin B is required for the proper functioning of the body. Each type of vitamin B provides varied health benefits such as enhancement of skin health, the production of red blood cells and cellular energy, and proper functioning of the nervous system. Furthermore, multiple benefits of vitamin B such as generation of energy and maintenance of immunity and digestive health; as well as their application in multiple industries have led to the dominance of this segment in the vitamins market.
The food & beverages segment is projected to be the fastest-growing application segment in the vitamins market during the forecast period. Consumers are increasingly shifting their preference toward on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their increasingly busy lifestyles, healthy snacking habits, and greater awareness about vitamin fortified food & beverage products, which is driving the market for vitamins.
The Asia Pacific market is estimated to account for the largest share in 2018 and is also projected to grow at the highest CAGR during the forecast period. The market in this region is majorly driven by China, which is the largest producer, exporter, and consumer of vitamins. Further, the rise in incomes, increase in purchasing power, and significant consumer demand for nutritional & healthy products are also driving the consumption of vitamins in various industries in the region.
The breakdown of the primaries on the basis of company type, designation, and region is as follows:
Key vitamin manufacturing players include the following:
The key players in the vitamins market adopted expansions & investments as their key growth strategy to increase their market share and profits. New product launches accounted for the second-most important strategy to be adopted by market players.
The report analyzes the vitamins market across different types and regions. It aims at estimating the size and future growth potential of this market across different segments such as type, application, source, and region. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.