Recording
the highest CAGR both in terms of value and volume, the Vitamin D3
segment is the undoubted leader in the product type segment
The
Vitamin D3 product type segment was estimated to account for more
than 70% value share in 2016, while the Vitamin D2 product type
segment was estimated to hold close to 30% value share in 2016. This
segment is expected to lose more than 600 BPS during 2016 – 2026
and is expected to account for more than 20% value share by 2026. The
Vitamin D3 segment is forecast to be valued at more than US$ 2,000 Mn
by the end of 2026, registering a CAGR of 12.0% between 2016 and
2026.
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In
2015, the total demand for Vitamin D3 stood at more than 7,000 Tonnes
in terms of volume, which is expected to increase to more than 23,000
Tonnes by 2026, recording a CAGR of 11.6% in terms of volume over the
period of forecast. In terms of volume consumption, the Vitamin D3
segment accounted for the highest share in 2015 and is expected to
remain dominant over the forecast period. In terms of volume growth,
the Vitamin D3 product type segment is anticipated to grow 2.99X over
the forecast period.
Increasing
cases of diseases caused by Vitamin D deficiency likely to fuel the
growth of the Vitamin D3 segment
Diseases
such as rickets are growing globally, directing a sharp rise in
Vitamin D3 and D2 consumption. Vitamin D3 and D2 is consumed through
medicines owing to unavailability of a vaccine for the disease.
Now-a-days, Vitamin D deficiency is becoming a common threat due to
little exposure to sunlight coupled with poor eating habits. The
working class population across the globe spends most of the daytime
hours at the workplace, which reduces their vitamin D3 and D2 intake.
People living in urban cities are more susceptible to vitamin D3 and
D2 deficiency as compared to people living in rural areas. This
factor is creating robust development in the Vitamin D3 product type
segment.
Consumers
prefer Vitamin D drinks due to their cultural preferences for
beverages. Demand for Vitamin D3 and D2 based beverages such as the
different types of fortified drinks, juices, and water is on the rise
owing to the preference factor. Demand for energy drinks and sports
drinks is also playing a significant role in boosting revenue growth
of the Vitamin D3 segment. High demand for these drinks globally due
to increased attention towards physical fitness and sports activities
is likely to boost market growth of the Vitamin D3 and D2 product
type segments of the global Vitamin
D ingredients market. Recommendations of various regulatory
agencies regarding the intake of Vitamin D have given a boost to the
Vitamin D3 and D2 segments owing to a rising awareness of diseases
and problems related to Vitamin D deficiency. Likewise, easy
availability of raw materials is also expected to drive the growth of
these segments, eventually fuelling the growth of the global Vitamin
D ingredients market.
Vitamin
D3 segment is expected to expand at 12.1% CAGR during the forecast
period in the North America Vitamin D ingredients market
The
Vitamin D3 segment was estimated to account for a market share of
more than 70% in 2016 in the North America Vitamin D ingredients
market and is expected to expand at a CAGR of 12.1% from 2016 to
2026, in terms of value. The Vitamin D2 segment is expected to
register a CAGR of 6.1% in the North America Vitamin D ingredients
market. Market share of the Vitamin D2 and D3 segments in the North
America Vitamin D ingredients market is anticipated to increase
significantly over the forecast period owing to increasing demand
from the pharmaceuticals and food and beverages industries.
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