Vitamin D Market worth $1.6 billion by 2025

The report "Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), IU Strength and Region - Global Forecast to 2025",The vitamin D market is estimated to account for about USD 1.1 billion in 2020 and is projected to reach a value of nearly USD 1.6 billion by 2025, growing at a CAGR of 7.0% from 2020 to 2025. The Vitamin D market is driven by the growth in awareness of Vitamin D deficiency, a rise in incidences of osteoporosis in women, and an increase in cases of malnutrition in children. However, the regulatory standards for Vitamin D are creating a restraint in the market. The rising number of government initiatives and awareness campaigns is expected to create new growth opportunities for the growth of the Vitamin D market.

Browse 304 market data Tables and 44 Figures spread through 252 Pages and in-depth TOC on "Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), IU Strength and Region - Global Forecast to 2025"
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Health and wellness products is one of the key driver for the Vitamin D2 market

Vitamin D2 is used to prevent rickets and treat osteomalacia, hypoparathyroidism (decreased functioning of parathyroid glands), and hypophosphatemia (low levels of phosphate in the blood). In terms of the analogs of Vitamin D, Vitamin D2 is obtained from sources, such as plants and fortified foods. Also, the intake of Vitamin D3 in the human body comes from animal-based foods. Due to the pandemic, consumers have shifted their dietary lifestyles from eating junk foods to consuming healthier foods to boost their immunities. As a result, the consumption of Vitamin D2 is expected to have a positive impact, owing to the growing population that is inclining toward the consumption of fortified foods, especially those comprising vitamins and minerals, to avoid Covid-19 risks. Also, Vitamin D3 intake is projected to narrow down relatively, as a major part of the population is avoiding animal-based foods and food products. This change has compelled several manufacturers to shift their production lines from Vitamin D3 to Vitamin D2.

Crystalline form of Vitamin D is projected to gain traction in the pharmaceutical industry

The selection of Vitamin D form is based on parameters such as stability, strength level, bioavailability, and performance in different industry sectors. Most of the Vitamin D sold are synthetic as compared to the natural ones. Vitamin D2 and D3 (crystalline and resin materials) are generally recognized as safe (GRAS) by the US Food and Drug Administration (FDA) for both human nutrition and feed. The dry form of Vitamin D is preferred among manufacturers in the feed industry due to several benefits. Vitamin D in dry form is characterized by enhanced stability and ease of handling & better storage conditions compared to the liquid form. Vitamin D2 and D3 are increasingly available in colorless crystals. The solubility of them in vegetable oil is low. Vitamin D3 is more stable as compared to Vitamin D2. Vitamin D3 is increasingly consumed for feed fortification to prevent or cure rickets. The crystalline Vitamin D is also used in food and pharmaceutical applications as well as multivitamin preparations.

Major consumers of Vitamin D3 in the animal feed industry are broilers and swine

Livestock animals require the right balance of different nutrients such as vitamins for their overall health, body structure, and vital functions. Nutrients such as Vitamin D are added to feed to enhance the nutritional value. Their popularity can be attributed to the multiple health benefits provided in facilitating a nutritionally balanced diet. For instance, adding Vitamin D3 to the poultry feed has led to increased efficiency in laying eggs and improved bone development in turkey. Further, it is also required for the optimal working of the immune system and bone strength in swine.

The feed industry is witnessing an upward trend in demand for enriched feed products, which supports the demand for nutritional additives such as Vitamin D. Furthermore, there is an increasing focus on animal nutrition in developing economies such as China and India, due to which the demand for different vitamins is projected to remain high in the feed industry. This is projected to lead to a surge in demand for vitamin concentrates and premixes.

Asia Pacific is projected to grow at the fastest rate during the forecast period.

Asia Pacific dominated the Vitamin D market in 2019, in terms of value and is also projected to grow at the highest CAGR from 2020 to 2025. The market in this region is dominated by China. The Asia Pacific is witnessing the highest growth due to the rapid economic expansion. The region is attracting investors for setting up production facilities due to the ease of availability of raw materials, skilled labor, land, and equipment at a lower cost. It has become a key destination for manufacturers of Vitamin D supplements and pharmaceutical product companies such as the Alkem Laboratories (India), Cadila Pharmaceuticals (India), Abbott Laboratories (US), and Sanofi S.A (France) as well as a flourishing market for domestic manufacturers. According to the International Monetary Fund (IMF), China and India are two of the fastest-growing economies in the world. China and India are some of the key countries in the Asia Pacific, which together accounted for the dominant value share in the Vitamin D market in the region in 2019. The Vitamin D market was dominated by China in the Asia Pacific region.

The key players in this market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), Koninklijke DSM N.V. (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India).

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Report Code
FB 3455
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6/29/2020
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