Market Leaders: Koninklijke DSM N.V.(Netherlands), Glanbia PLC (Ireland), ADM (US), BASF (Germany), and Lonza Group (Switzerland) are Increasing their Respective Market Shares Steadily Through Product Launches and Deals in Vitamins Market
The vitamins market is projected to reach USD 8.9 billion by 2028 from USD 6.7 billion in 2023, growing at a CAGR of 6.0% from 2023 to 2028. The increase in demand for processed food, clean-label packaged food products, ready-to-eat, and ready-to-cook products. This is due to changing consumer preferences, a fast-paced lifestyle, and an increasing working population that has driven the shift from healthy foods to convenience food products.
The key players in the pea starch market include Koninklijke DSM NV (Netherlands), Glanbia PLC (Ireland), ADM (US), BASF (Germany), and Lonza Group (Switzerland), among others. The key strategies the leading market players have adopted recently include product launches, agreements, and expansion to maintain their position in the market.
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Koninklijke DSM NV is a Dutch multinational corporation that produces nutritional, healthy, and sustainable products. They are focusing on R&D, marketing, product innovation and. They are doing business in domestic and international markets. They are present in 55 countries and have 38,000 suppliers. In March 2021, DSM launched a product called Ampli-D, developed as a fast-acting form of vitamin D and used for dietary supplements. This product is formulated with calcifediol or 25- hydroxyvitamin D3. This product is unique and innovative, meets the customer’s requirements, and helps the company sustain itself in the market. In August 2022, MD Pharmaceuticals, a Singapore-based company, collaborated with the DSM to develop a new vitamin D supplement, Rapid-D. Through this collaboration, DSM extends its business in Asia pacific region and increases its customer base.
Glanbia is a Dutch-based company that supplies cheese, specialty dairy & non-dairy ingredients, and micronutrient premixes. The company has two segments, namely, Glanbia Nutritionals & Glanbia Performance Nutrition. They offer their products globally. Glanbia distributes its products in 130 countries and has over eight manufacturing units across various regions.
ADM is a pioneer in the manufacturing of food & beverage ingredients, feed & feed ingredients, biofuels, and natural alternatives to industrial chemicals. They are the largest processors of agricultural goods across the globe. The company has various brands and serves its products in the food, beverages, health, wellness, and feed industries. Their leading business includes oil processing, corn processing, agricultural services, etc. They are doing business across 147 countries with a set-up of 300 processing plants and 466 crop procurement facilities. In November 2020, ADM Ventures invested in Health for Life Capital (HLFC). HLFC is a Paris-based management company, a leading venture capital fund dedicated to nutrition, microbiota, health, and digital health. This collaboration helps supply products and meet the consumer’s needs.
Related Reports:
Vitamins Market by Type (Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, & Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural) and Region - Global Forecast to 2028
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