PUBLISHER: Meticulous Research | PRODUCT CODE: 1518434
PUBLISHER: Meticulous Research | PRODUCT CODE: 1518434
Vitamin D Market Size, Share, Forecast, & Trends Analysis by Analog (Vitamin D3, Vitamin D2), Source (Plant-sourced, Animal-sourced), Form (Dry, Liquid), Application (Pharmaceuticals, Food & Beverage, Feed & Pet Food, Personal Care)-Global Forecast to 2030
According to the research report titled, 'Vitamin D Market Size, Share, Forecast, & Trends Analysis by Analog (Vitamin D3, Vitamin D2), Source (Plant-sourced, Animal-sourced), Form (Dry, Liquid), Application (Pharmaceuticals, Food & Beverage, Feed & Pet Food, Personal Care)-Global Forecast to 2030,' the vitamin-D market is projected to reach $2.43 billion by 2030, at a CAGR of 7.1% during the forecast period 2023-2030. This report provides an in-depth analysis of the functional ingredients market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2030.
Following extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts an impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is mainly driven by the growing demand for vitamins for the enrichment or fortification of food and beverages, the increasing prevalence of vitamin D deficiency, the growing health & wellness trends, growing consumer awareness about the adverse effects of insufficiency of vitamin D, the rise in the incidence of osteoporosis in women, and growing demand for dietary supplements. However, the rising demand from the personal care and cosmetics industries is likely to create opportunities for stakeholders operating in this market. Stringent regulations governing the fortification of food & feed products are projected to impede market growth to some extent.
The key players operating in the vitamin D market are BASF SE (Germany), Dishman Carbogen Amcis Ltd (India), Divi's Laboratories Ltd. (India), Fermenta Biotech Limited (India), Koninklijke DSM N.V. (Netherlands), Lycored Corp. (Israel), NewGen Pharma Inc. (U.S.), Synthesia a.s. (Czech Republic), Taizhou Hisound Pharmaceutical Co., Ltd. (China), Zhejiang Garden Biochemical High-tech Co., LTD (China), and Zhejiang Medicine Co., Ltd. (China).
Based on analog, the vitamin D market is segmented into vitamin D2 and D3. In 2023, the vitamin D3 segment is expected to account for a larger share of the vitamin D market. The large share of this segment is mainly attributed to the growing awareness regarding multiple applications of vitamin D3 and the rising number of rheumatoid arthritis patients and other bone-related disorders in people.
However, the vitamin D2 segment is expected to register the highest CAGR during the forecast period of 2023-2030 due to its growing importance in the treatment of various calcium disorders and parathyroid disorders. Moreover, the rising incidence of vitamin D deficiency, preference for a balanced diet, rising demand for vitamin D supplements & foods, and prevalence of chronic kidney diseases play a vital role in bone health and help absorb calcium and phosphorus. In addition, factors such as the presence of key manufacturers and the rising adoption of vitamin D3 in fortified food products to promote calcium absorption and bone mineralization are further expected to support the growth of this market.
Based on source, the vitamin D market is segmented into plant-sourced and animal-sourced. The plant-sourced segment is projected to register the highest CAGR during the forecast period of 2023-2030 due to rising consumer preference for plant-based products, a growing vegan population, increasing intolerance for animal-derived ingredients, easy availability of raw materials, and comparatively lower cost of production.
Based on form, the vitamin D market is segmented into dry form and liquid form. In 2023, the dry form segment is expected to account for a larger share of the global vitamin D market. The large market share of this segment is mainly attributed to the higher demand for dry form due to its benefits, such as product stability, extended shelf life, and ease of handling, transportation, and storage. In addition, there is an increasing demand for vitamin D in powder and capsule forms for its high solubility.
Based on the application, the vitamin D market is segmented into pharmaceuticals, food & beverage, pet food & feed, and personal care. The food & beverage segment is projected to register the highest CAGR during the forecast period of 2023-2030. The growth of this segment is driven by the increasing demand for fortified foods, rising consumer awareness regarding the health benefits of vitamin D, and growing health & wellness trends.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. In 2023, Asia-Pacific is expected to account for the largest share of the vitamin D market owing to the presence of key manufacturers, the growing demand for functional food ingredients, rising cases of rickets, and increasing disposable income in the region. In addition, the high deficiency of vitamin D in the region further supports this market's growth. For instance, Malaysia has a high deficiency of vitamin D compared to other countries worldwide, owing to the country's high prevalence of various non-communicable diseases. According to Malaysia's National Health Survey, the prevalence of diabetes mellitus is increasing rapidly in Malaysia.
Vitamin D Market Assessment-by Analog
Vitamin D Market Assessment-by Source
Vitamin D Market Assessment-by Form
Vitamin D Market Assessment-by Application
Vitamin D Market Assessment-by Geography