The global vitamin ingredients market is experiencing significant growth, and is expected to grow considerably in the next few years. Vitamins are natural compounds found in food items such as fruit & vegetables, and eggs. Vitamins help in basic development of essential nutrients and increase the metabolism of body. In addition, they help in the production of skin, muscle, bones, repair cells, & tissues and strengthens the immune system.
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Vitamins are of two types, water-soluble, which the body does not store and needs supply daily and fat-soluble, which are absorbed by the body and are stored for future use. Vitamins are used across various industries such as food, pharma, and cosmetics, which has fueled their demand, globally. Innovation in the industry is related to the use of vitamins for processing dietary & food supplements, which can be targeted to sports for energy ingredients.
Key benefits of the report
This study presents the analytical depiction of the global vitamin ingredients industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vitamin ingredients market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global vitamin ingredients market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
COVID-19 scenario analysis
The global effect of the pandemic has increased the demand for vitamins, as consumers are now becoming more aware of healthy food ingredients and prefer food items that strengthen the immune system.
Manufacturers are facing difficulties in procuring raw materials and labor due to the pandemic.
The market demand will rise significantly post COVID-19, as health is now a priority.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in application of vitamins in the food & beverage, beauty & personal care, dietary supplement, and pharma industries has boosted the growth of the vitamin ingredients market, globally. Moreover, deficiency of vitamins due to increase in consumption of junk food, changes in food habits, chronic malnutrition in under-developed countries, and increase in consumer awareness toward health benefits of vitamin consumption are the driving factors of vitamin ingredients market. However, lack of consciousness of the dosage of vitamins is the major challenge faced by the consumers, which affects the health if taken in the wrong dosage. Contrarily, the market leaders are investing in digital platforms and tie-ups with dieticians regarding the ideal dosage for consumers, considering the condition of consumers.
Surge in use of vitamin A and vitamin B for animal fodder
There has been an increase in demand for vitamin A by the healthcare industry, due to rise in cases of ophthalmic illness in children, surge in aging population, increase in awareness toward eye care, and rise in expenditure in the healthcare sector. Vitamin A helps in facilitating adequate growth & development of eye tissue; lowers the risk of cataract, night blindness, and myopia; and helps in reducing the risk of cancer.
Vitamin B is used in animal fodder to maintain the normal health in animals and helps in maintaining the nutrients deficiency in the body. Moreover, livestock such as sheep, cow, and goats require vitamin B12, which increases the energy and helps in faster metabolism process. Cobalt deficiency due to lack of vitamin B12 reduces the appetite of animals and results in scaly ears.
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The Asia-Pacific market is leading the vitamin ingredients market. This is attributed to increase in population of India, China, and Indonesia and high risk of diseases and health issues among the aging population in Japan due to a lack of vitamin supply in the diet. The Asia-Pacific countries have seen a surge in patients suffering from vitamin deficiency, which has led to rise in demand for vitamin capsules, syrups, and other powder forms. Moreover, increase in disposable income of consumers and broad distribution channels have fueled the market growth in the Asia-Pacific region. North America is the next most closely competing region, and has a high demand for vitamin ingredients from the growing population.
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