new york, June 3, 2024 /PRNewswire/ — The global vitamin market size is 35 USDAccording to Technavio, the market is expected to reach $4.6 billion between 2024 and 2028. The market is expected to grow at a CAGR of over 7.82% during the forecast period.
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Technavio has released its latest market research report, “Global Vitamins Market 2024-2028”.
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Forecast Period |
2024-2028 |
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Base year |
2023 |
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Historical Data |
2018 – 2022 |
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Target Segments |
By application (food & beverage, pharmaceutical & cosmetics, feed additives), end user (adults, children & teenagers, infants), and region (North America, Asia Pacific, Europe, South America, Middle East & Africa) |
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Target area |
North America, Asia Pacific, Europe, South America, Middle East and Africa |
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Introduction of major companies |
Abbott Laboratories, Ajinomoto Co., Alltech Corporation, Archer Daniels Midland Company, Associated British Foods Ltd, BASF SE, Adisseo Inc., Cargill Inc., Chr Hansen Holding AS, DuPont de Nemours, Evonik Industries AG, Koninklijke DSM NV, Merck KGaA, Nestlé SA, Sanofi SA, Virbac Group, Vitafor NV, Vitara Foods and Zinpro. |
Key Market Trends Driving Growth
The global vitamin market is witnessing growth due to rising health consciousness among consumers. The youth, especially those aged 18-32 years, are driving the demand for natural, low-fat, high-calorie foods and beverages fortified with vitamins and minerals. Key verticals include animal feed, personal care, pharmaceuticals and dietary supplements, and various vitamins such as Vitamin B, C, D, E, and K. Companies such as DSM, GlaxoSmithKline, and ADM dominate the market, catering to human health needs including digestion, immunity, mental health, and the elderly with conditions such as anemia, osteoporosis, and osteoarthritis.
Market Challenges
- The global vitamins market is facing challenges due to misleading celebrity claims for supplements. While consumers may be persuaded to make purchases based on these claims, a lack of transparency regarding ingredients can lead to distrust and hinder market growth.
- Major players include DSM, ADM, GlaxoSmithKline etc. Vitamins B and C are often used to improve digestion, immunity, mental health and to alleviate conditions such as anemia, osteoporosis and obesity.
- There is debate about whether vitamins are naturally or synthetically sourced, and human and agricultural sources also affect nutritional requirements. Lifestyle, reproductive issues, medical costs, and disease are also factors that affect vitamin intake.
The research report provides comprehensive data on the impact of trends, drivers, and challenges. Download sample report
Segment Overview
- application
- 1.1 Food and Beverages
- 1.2 Pharmaceuticals and cosmetics
- 1.3 Feed additives
- 2.1 Adults
- 2.2 Children and young people
- 2.3 Infants
- 3.1 North America
- 3.2 Asia-Pacific
- 3.3 Europe
- 3.4 south america
- 3.5 middle east and Africa
1.1 Food and Beverages The global vitamins market is witnessing robust growth, especially in the food and beverages segment. This expansion is driven by the rising health and wellness trend, with consumers incorporating vitamin-rich foods into their diet as a preventative measure against diseases. Vitamins play a vital role in fighting various health issues, including fibromyalgia, obesity, depression, and infertility.
Vitamin deficiency can lead to minor issues such as short-term memory loss and fatigue as well as major problems such as preventable blindness in children due to vitamin A deficiency. Market players such as DSM, GlaxoSmithKline plc and ADM are introducing fortified food and beverage products to meet this growing demand. Vitamins such as Vitamins B1, B2, B3, B5, B6, B7, B9, B12, Vitamins D, E and K are essential for maintaining optimal health.
These vitamins are used in a variety of applications, including medicines, dietary supplements, animal feed, personal care, and vitamin supplements. Vitamin C is a popular supplement, with brands such as Sensodyne, Panadol, Voltaren, Centrum, Advil, and Caltrate offering products fortified with this essential nutrient. Vitamins can be sourced naturally or synthetically.
For more details on market segmentation by geographical analysis including forecasts (2024-2028) and historical data (2018-2022), see below: Download sample report
Research Analysis
The vitamins market encompasses a wide range of products, including animal feed, personal care, pharmaceuticals, dietary supplements, and a range of vitamin supplements. Essential nutrients such as Vitamins A, B1, B2, B3, B5, B6, B7, B9, B12, D, E, and K play a vital role in human health and wellness. They contribute to various aspects of health, including digestion, immunity, and mental health.
Vitamin B is particularly important for postmenopausal women as it helps prevent anemia and other health problems. A leading company in the nutrition sector, DSM is a key player in the vitamins market, providing high-quality solutions for agricultural and food products that meet the nutritional requirements of consumers worldwide.
Market Research Overview
The vitamins market includes various essential nutrients such as Vitamins A, B1, B2, B3, B5, B6, B7, B9, B12, C, D, E, K, and minerals. These important substances play a vital role in maintaining optimal health and wellness. Products in this market include vitamin supplements, multivitamins, and specific vitamin formulations for various health concerns. Dietary supplements, functional foods, and beverages are also part of the vitamins market.
Producers and suppliers source these nutrients from natural and synthetic sources to ensure their purity and potency. Consumers rely on these products to meet their daily nutritional requirements and support their overall health and well-being. The market is driven by factors such as increasing health consciousness, an aging population, and a rise in chronic diseases.
table of contents:
1. Executive Summary
2. Market situation
3. Market size assessment
4. Past market size
Five Forces Analysis
6. Market Segmentation
- application
- Food and Beverage
- Pharmaceuticals and cosmetics
- Feed Additives
- End-user
- adult
- Children and teenagers
- infant
- Geography
- North America
- Asia Pacific
- Europe
- south america
- Middle East and Africa
7 Customer Environment
8. Geographical Landscape
9 Drivers, Challenges and Trends
10. Company Status
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Its research and analysis focuses on emerging market trends, providing actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market position.
With over 500 expert analysts, Technavio’s report library contains over 17,000 reports covering 800 technologies across 50 countries. The company’s client base comprises of businesses of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify existing and potential market opportunities, and evaluate their competitive position within a changing market scenario.
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Source Technavio
