Vitamin Ingredients Market: Growing Prevalence of Nutritional Deficiencies to Boost Demand for Market

Global Vitamin Ingredients Market: Overview

This report covers the analysis and forecast of the vitamin ingredients market on a global and regional level. The study provides historic data of 2016 along with forecast for the period between 2017 and 2025 based on volume (Tons) and revenue (US$ Mn).

The study provides a decisive view of the vitamin ingredients market by segmenting it based on type, application, and regional demand. Application segments have been analyzed based on current trends and future potential. The market has been estimated from 2016 to 2025 in terms of volume (Tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for individual applications in all regions.

It also covers the drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the vitamin ingredients market on the global and regional level. It further encompasses market attractiveness analysis, wherein applications have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.

Global Vitamin Ingredients Market: Research Methodology

The market has been forecast based on constant currency rates. Prices of vitamin ingredients vary in each region and are a result of the demand-supply scenario in the region. Hence, a similar volume-to-revenue ratio does not follow for each individual region. Individual pricing of vitamin ingredients for each application has been taken into account while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down the market into segments in each region.

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The report provides the size of the vitamin ingredients market in2016 and the forecast for the next nine years up to 2025. The size of the global vitamin ingredients market is provided in terms of both volume and revenue. Market volume is defined in tons, while market revenue for regions is in US$ Mn. The market size and forecast for each product segment is provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications and types of vitamins.

Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. The price for commonly utilized grades of vitamin ingredients in each application has been considered, and customized product pricing has not been included. Demand for vitamin ingredients has been derived by analyzing the global and regional demand for vitamin ingredients in each application. The global vitamin ingredients market has been analyzed based on expected demand. Market data for each segment is based on volume and corresponding revenues. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback. Forecasts have been based on the expected demand for vitamin ingredients.

We have used the top-down approach to estimate the global vitamin ingredients market, split into regions. The product type split of the market has been derived using a top-down approach for each regional market separately, with the global product type segment split being an integration of regional estimates. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of vitamin ingredients of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.

Companies Mentioned in this Report

The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include BASF SE, Lonza Group, Bluestar Adisseo Company, Bactolac Pharmaceutical, Inc., Archer Daniels Midland Company, Amway, and Koninklijke DSM N.V. Some of the other companies operating in the market are AIE Pharmaceuticals, Inc., E. I. du Pont de Nemours and Company, and Atlantic Essential Products, Inc.

Global Vitamin Ingredients Market: Awareness of Nutritional Deficiencies Prompting High Intake of Added Nutritive Ingredients, notes TMR

The global vitamin ingredients market is highly consolidated and competitive, according to Transparency Market Research. The five leading players in this market for 2015 were BASF, DuPont, Koninklijke, Amway, and Lonza. They collectively held close to 70% of the global vitamin ingredients market in 2015 and the TMR report states that this scenario is not likely to change over the next few years. Meanwhile, the competition could intensify further due to the high number of mergers, acquisitions, and partnerships being formed in the market.

As per the report, the global vitamin ingredients market was valued at US$5.3 bn in 2016. The market is projected to expand at a CAGR of 4.90% within a forecast period from 2017 to 2025 and is expected to reach US$8.1 bn by the end of 2025. In terms of volume, the global vitamin ingredients market is expected to reach 63,512.4 tons by the end of 2025. Pharmaceuticals has emerged as the key application segment in the global vitamin ingredients market and is likely to remain dominant over the coming years.

Growing Prevalence of Nutritional Deficiencies to Boost Demand for Vitamin Ingredients“The growing concerns, along with the increasing awareness about maintaining health and fitness, have encouraged consumers to boost their overall intake of vitamins, consequently propelling the sales of vitamin ingredients globally,” states a TMR analyst. The global vitamin ingredients market is also being driven by the growing prevalence of nutrition-based deficiencies and chronic illnesses, including Alzheimer's disease, a key geriatric illness that is linked to vitamin D deficiency. The overall consumer focus has moved closer towards preventive healthcare. This, as a result, has propelled the overall intake of nutritive elements, which includes the global market for vitamin ingredients. The market is also propelled by the rise in awareness of consumers regarding the benefits that various vitamins provide, especially vitamin C.

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Asia Pacific to Maintain Lead in Vitamin Ingredients Consumption

Asia Pacific, the current regional lead in the global vitamin ingredients market, is expected to maintain its dominant position over the course of the report’s forecast period, thanks to the very high population density in this region, coupled with increasing concerns of consumers over health issues, and the growing number of people suffering from nutritive deficiencies in its emerging economies. Analysts evaluate the Asia Pacific vitamin ingredients market to expand at a CAGR of 5.40% from 2017 to 2025, a statistic attributed to the rising disposable income of the working-class consumers, advancements in healthcare infrastructure and expenditure, and the availability of massive online and offline distribution networks.

North America stood second in the global vitamin ingredients market for 2016. The region is likely to show a very healthy rate of growth in consumption of vitamin ingredients. A growing demographic of North American consumers is beginning to prefer preventive healthcare measures, thus fuelling the demand for vitamin-based food and drugs. This trend is expected to remain strong over the coming years, leading to a considerable progress for manufacturers and distributors of vitamin ingredients within North America.

The global vitamin ingredients market is, however, being restrained by factors such as the increasing preference of consumers for direct consumption of natural vitamin sources, such as fruits and nuts, threatening to limit the progress made by the global vitamin ingredients market to some extent in the near future.

The information presented in this review is based on a Transparency Market Research report, titled, “Vitamin Ingredients Market (Types - Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K; and Applications - Pharmaceuticals, Processed and Packaged Food and Beverage, Cosmetics, and Animal Feed) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

Key segments of the Global Vitamin Ingredients Market

By Type

• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K

By Application

• Pharmaceuticals
• Processed and Packaged Food and Beverage
• Cosmetics
• Animal Feed
• Others

Global Vitamin Ingredients Market: Production Volume to Reach 63,512.4 tons by 2025, Reports TMR

The global vitamin ingredients market is highly concentrated and competitive in nature, finds a report by Transparency Market Research (TMR). The top five companies in this market, namely, BASF, DuPont, Koninklijke, Amway, and Lonza, collectively accounted for nearly 70% of this market in 2015. The scenario is not expected to change in the next few years; although the competition is likely to intensify further due to the ongoing mergers, acquisitions, and partnerships activities.

As per the report, the worldwide vitamin ingredients market, which was worth US$5.3 bn in 2016, is estimated to proliferate at a 4.90% CAGR during the period from 2017 to 2025 and touch US$8.1 bn by the end of the forecast period. In terms of volume, the market is anticipated to reach 63,512.4 tons mark by 2025. Pharmaceuticals has emerged as the key application area of vitamin ingredients and is anticipates to remain so over the coming years.

Asia Pacific to Continue on Top Position

The report also presents a geographical analysis of the worldwide market for vitamin ingredients. According to it, the market stretches across Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. Asia Pacific, which is the current market leader, is anticipated to retain its position throughout the forecast period, owing to the rising population, increasing concerns of consumers over health issues, and the escalating patient pool suffering from vitamin deficiency in this region. Researchers estimate this regional market to rise at a CAGR of 5.40% over the period of forecast, thanks to the surge in the disposable income of the working-class people, enabling them to spend on expensive items, advancing infrastructure of healthcare facilities, and the availability of a wide-ranging distribution network.

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North America, which stood second in 2016, is also projected to exhibit healthy growth in its market share. As a number of North American consumers prefer prevention over cure, the demand for vitamin-based food and drugs has been tremendously high in this region and this trend is likely to remain increasing over the next few years, leading to a considerable progress in the North America vitamin ingredients market. The U.S. is the leading domestic market for vitamin ingredients in this region and is expected to remain seated in this position throughout the forecast period, thanks to a well-established medical and healthcare industry, reports the study.

Growing Prevalence of Nutritional Deficiencies to Boost Demand for Vitamin Ingredients

“The increasing concerns, as well as awareness about health and fitness, have prompted consumers to take accountability of their well-being, which has boosted the uptake of vitamins, consequently influencing the sales of vitamin ingredients across the world,” says a TMR analyst. With the growing prevalence of nutrition-based deficiencies and chronic diseases, such as Alzheimer's, which is caused by the deficiency of vitamin D, the focus of consumers has shifted from curing a disease to preventive healthcare. This, as a result, has propelled the global market for vitamin ingredients substantially. The rise in the knowledge of consumers about the benefits of the various type of vitamins, especially vitamin C, is also boosting the growth of this market significantly.

Although these factors point towards a thriving future of this market, the growing preference among consumers for direct consumption of natural vitamin sources, such as fruits and nuts, may limit the market’s progress to some extent in the near future, states the research report.

The study presented here is based on a report by Transparency Market Research (TMR), titled “Vitamin Ingredients Market (Type - Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K; Application - Pharmaceuticals, Processed and Packaged Food and Beverage, Cosmetics, and Animal Feed) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

The global Vitamin Ingredient market has been segmented into:

By Type

• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K

By Application

• Pharmaceuticals
• Processed and Packaged Food and Beverage
• Cosmetics
• Animal Feed
• Others

Vitamin Ingredients Market: Extensive Consumption of Vitamin Supplements fuels Growth of the Market

Vitamin is an organic compound which acts as an essential nutrient that an organism requires in limited amounts. The increasing application of vitamins in the supplementary industry is one of the major factors driving the growth of this market. Apart from recommending multivitamins for children, physicians have also started prescribing vitamins during prenatal and conception development. Doctors are encouraging the consumption of different types of supplements such as B-complex vitamins, Vitamin A, C, D, and E, and multivitamins as an important part of good prenatal health, which is one of the driving factors for the vitamin ingredients market. Supplements derived from vitamin D are gaining popularity among pregnant and breastfeeding women owing to health benefits for their children. There are also different types of supplements consumed by people above 60 years of age, who have limited exposure to the sun. Extensive consumption of vitamin supplements is fuelling growth of the vitamin ingredients market. Research and development activities for exploration of newer vitamin products is likely to create more opportunities in the vitamin ingredients market.

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The vitamin ingredients market has been bifurcated by product type and by application. By product type, the market is segregated by Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K. Vitamin B was the dominant segment in 2015 and it is expected to remain so over the forecast period. Vitamin B group is a cluster of eight vitamins such as B1, B2, B3, B5, B6, B7, B9, and B12, which are essential for cell metabolism. Animal fed protein represents the major segment for Vitamin B complex and Vitamin B. Growing concerns about micronutrients and preventive medication among customers is expanding the demand for vitamin ingredients in the food and animal feed industry. Increasing use of Vitamin B in functional foods and sports drinks is driving demand for this segment. By types of application, the vitamin ingredients market is segregated by food & beverages, animal feed, cosmetics, and pharmaceutical industry. Animal feed is the most dominant segment on the basis of application of the vitamin ingredients market. Vitamins are widely used in the manufacturing of premixes and animal feed to ensure optimum health of animals and the quality of products. Increasing demand for vitamin A, D, and E in the poultry industry is likely to be one of the driving factors for this segment over the forecast period.

On the basis of geography, the vitamin ingredients market is segregated by North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. North America and Europe have a developed market and they occupy a considerable market share in the vitamin ingredients market. Asia Pacific accounts for majority of the market share in the vitamin ingredients market and it is expected to remain so over the forecast period. China and India represent majority of the market share for vitamin ingredients in this region. Rapid pace of urbanization coupled with the changing lifestyle is driving the vitamin ingredients market in this region.

With massive investments from China and India in the vitamin ingredients market, the region is likely to witness unprecedented growth over the estimated period. Middle East & Africa is an emerging economy in the vitamin ingredients market. Saudi Arabia accounts for one of the large market for the vitamin ingredients in this region.

The leading companies in the vitamin ingredients market are BASF, Amway, E. I. du Pont de Nemours and Company, DSM, and Lonza. Some of the other players in the vitamin ingredients market are Atlantic Essential Products, Bactolac Pharmaceutical, AIE Pharmaceuticals, Aland (Jiangsu) Nutraceutical, Kirkman Group, Nulab, Nutrilo, ParkAcre Enterprises, Pfizer, Bluebonnet Nutrition, Glanbia Nutritionals Deutschland, and Private Label Nutraceuticals among others.