Vitamin D Ingredients Is Fastest Growing Segment Fueling The Growth of Vitamin D Ingredients Market

 

The global Vitamin D Ingredients Market is estimated to be valued at US$ 3.23 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Vitamin D plays an important role in bone health by helping the body absorb calcium. It is commonly added to staple food products and drinks as a way to prevent deficiencies.

Market Key Trends:

Growing health consciousness and awareness about the role of vitamin D in overall well-being has increased consumption of vitamin D fortified/functional food and beverages globally. Moreover, rising incidences of osteoporosis, rheumatoid arthritis and other bone related diseases has stimulated growth of vitamin D ingredients market. The possibility of new applications of vitamin D ingredients in cosmetic and personal care industry also acts as a high impact rendering driver for the overall market growth over the forecast period."

Segment Analysis

The global vitamin D ingredients market is segmented on the basis of source, application, and region. By source, the market is classified into vitamin D2 and vitamin D3. Vitamin D3 segment dominated the global market in 2022, accounting for nearly 80% share. Vitamin D3 or cholecalciferol is more potent and efficacious as compared to vitamin D2 or ergocalciferol, which makes it the preferred choice for various vitamin D formulations. By application, the market is divided into pharmaceutical, functional food & beverage, personal care, and animal feed & pet food. The pharmaceutical segment accounted for majority share in 2022 due to increasing utilization of vitamin D in pharmaceutical applications such as treatment of osteoporosis and rheumatoid arthritis.

Key Takeaways

  • The global vitamin D ingredients market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing prevalence of vitamin D deficiency worldwide coupled with rising health awareness.
  • North America dominated the global market in 2022 and is expected to remain the highest revenue generating region during the forecast period. Factors such as growing elderly population and increased healthcare spending drive the demand for vitamin D ingredients in the region.
  • Asia Pacific is expected to witness fastest growth during the forecast period. Rapidly growing population, increasing incomes, and rising health consciousness stimulate the consumption of vitamin D fortified food products in Asia Pacific countries.
  • Key players operating in the vitamin D ingredients market are BASF SE, Dishman Netherlands B.V., Royal DSM N.V., Barr Pharmaceutical, Lycored Limited, Zhejiang Garden Bio-chemical High-tech Company Limited, Fermenta Biotech Ltd, Schiff Nutrition International, Inc. (Reckitt Benckiser), Glaxo Smith Kline, J.R. Carlson Laboratories. These players are focused on new product launches and capacity expansions to strengthen their market position.

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