The latest report by IMARC Group, titled “Vitamin Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global vitamin ingredients market reached a value of US$ 4.2 Billion in 2022. Vitamin ingredients, also known as vitamers, are substances with a family of related molecules chemically similar to vitamins or share a standard function in the body. These ingredients form an essential part of the diet and aid growth, digestion, and nerve functions. Vitamin ingredients are available for thirteen different types of vitamins with multiple vitamers. For instance, vitamin A contains six vitamers, vitamin B1 comprises three vitamers, and vitamin C has more than four different types of vitamers. Vitamin ingredients are classified based on two types, including fat-soluble and water-soluble vitamins. Fat-soluble vitamins are diffused in fats and stored in the liver to be used when needed, whereas water-soluble vitamins are not stored but are consumed with food and then excreted as waste.
Global Vitamin Ingredients Market Trends:
With the rising awareness about healthy and nutritional food products among individuals worldwide, the demand for vitamin ingredients has escalated. The growing prevalence of lifestyle diseases and increasing nutritional imbalances due to malnutrition and high intake of junk food and alcoholic beverages have also increased the need for vitamin ingredients. These ingredients help lower the risks of developing cardiovascular diseases, diabetes, eye disorders, signs of aging and heat strokes. Besides this, the expansion of the wellness sector has also increased the application of vitamin A, B, C, D, E, and K across the food and beverages, cosmetics, animal feed, and pharmaceutical industries. Moreover, the development of natural and allergen-free Vitamin E that is used in organic and herbal haircare, skincare, cosmetics and other personal care products is also providing a positive outlook to the market. Looking forward, the market value is projected to reach US$ 5.8 Billion by 2028, expanding at a CAGR of 5.5% during 2023-2028.
- Based on the type, the market has been segmented into vitamins A, B, C, D, E and K.
- On the basis of the form, the market has been segregated into tablets and capsules, powder and others.
- The market has been categorized based on the source into natural and synthetic.
- On the basis of the application, the market has been classified into pharmaceuticals, food and beverages, personal care products, animal feed and others. At present pharmaceuticals account for the largest market share.
- Region-wise, Asia Pacific (China, Japan, India, Indonesia, Australia, South Korea and others) exhibits a clear dominance in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 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. and The Wright Group.
|Base Year of the Analysis
||Type, Form, Source, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and The Wright Group
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