According to the latest report by IMARC Group, titled “Vitamin Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global vitamin ingredients market size reached US$ 4.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Vitamin ingredients represent the various organic compounds that exhibit similar properties as naturally occurring vitamins. They are obtained from vegetables, fruits, and animal-based sources. Water-soluble and fat-soluble are two of the most commonly available vitamin ingredients. While water-soluble ingredients are used for immediate absorption and providing nourishment to the body, fat-soluble ingredients are diffused in fats and stored for later absorption in the liver. Vitamin ingredients help in minimizing the risks of developing cardiovascular ailments, diabetes, eye disorders, premature signs of aging, heat strokes, etc. As a result, they are extensively used in the manufacturing of foods, beverages, animal feed, pharmaceuticals, etc.
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Vitamin Ingredients Market Trends:
The increasing prevalence of chronic medical ailments pertaining to vitamin deficiencies is primarily driving the vitamin ingredients market. In addition to this, the rising demand for functional and nutritionally-enriched food items is further catalyzing the market growth.
Moreover, the incorporation of vitamins as essential components of daily diets as they aid in overall growth, digestion, and neurological functions is acting as another significant growth-inducing factor. Besides this, vitamin ingredients are utilized in the medical nutrition sector for the treatment of malnutrition and vitamin deficiency-related disorders, which is also augmenting the global market. In line with this, the emerging trend of animal feed fortified with vitamins for enhanced nourishment in meat and dairy items is anticipated to fuel the vitamin ingredients market over the forecasted period.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Abbott Laboratories
- Archer Daniels Midland Company
- BASF SA
- Bluestar Adisseo Company
- Btsa Biotecnologías Aplicadas S.L.
- Farbest-Tallman Foods Corp.
- Glanbia Plc
- Koninklijke DSM N.V.
- Lonza Group
- Nestlé S.A.
- Pfizer Inc.
- Rabar Pty Ltd
- The Wright Group
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Market Breakup by Type:
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
Market Breakup by Form:
- Tablets and Capsules
Market Breakup by Source:
Market Breakup by Application:
- Foods and Beverages
- Personal Care Products
- Animal Feed
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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