Dublin, Oct. 14, 2019 (GLOBE NEWSWIRE) -- The "Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), etc. - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The vitamins market is estimated to be valued at USD 5.18 billion in 2018 and is projected to reach 7.35 billion by 2023, at a CAGR of 7.3%.
- This report analyzes the vitamins market across different types and regions.
- It aims at estimating the size and future growth potential of this market across different segments such as type, application, source, and region.
- The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
The global market for vitamins is dominated by players such as Koninklijke DSM N.V. (Netherlands), Glanbia plc (Ireland), ADM (US), BASF (Germany), Lonza Group (Switzerland), Vitablend Nederland B.V. (Netherlands), SternVitamin GmbH & Co. KG (Germany), Farbest-Tallman Foods Corporation (US), Watson Inc. (US), Zagro (Singapore), The Wright Group (US), Rabar Pty Ltd. (Australia), Adisseo (France), Showa Denko K.K. (Japan), and BTSA BIOTECNOLOGAS APLICADAS S.L (Spain).
The vitamins market is projected to grow at a CAGR of 7.3%.
The market is driven by growth in the demand for functional and nutritionally enriched processed food products, the prevalence of vitamin deficiencies, and feed fortification due to a rise in global meat & dairy product consumption. The constrained supply of raw materials for natural vitamins, coupled with high costs, restrains the market growth of vitamins.
Vitamin B is set to be the largest segment, in terms of type, for vitamins in 2018.
The vitamin B segment is estimated to be the largest in 2018 in the vitamins market. Vitamin B is required for the proper functioning of the body. Each type of vitamin B provides varied health benefits such as enhancement of skin health, the production of red blood cells and cellular energy, and proper functioning of the nervous system. Furthermore, multiple benefits of vitamin B such as generation of energy and maintenance of immunity and digestive health; as well as their application in multiple industries have led to the dominance of this segment in the vitamins market.
The food & beverages segment, in terms of application, is projected to be the fastest-growing segment for vitamins from 2018 to 2023.
The food & beverages segment is projected to be the fastest-growing application segment in the vitamins market during the forecast period. Consumers are increasingly shifting their preference toward on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their increasingly busy lifestyles, healthy snacking habits, and greater awareness about vitamin fortified food & beverage products, which is driving the market for vitamins.
Asia Pacific is set to lead the vitamins market with the largest share in 2018.
The Asia Pacific market is estimated to account for the largest share in 2018 and is also projected to grow at the highest CAGR during the forecast period. The market in this region is majorly driven by China, which is the largest producer, exporter, and consumer of vitamins. Further, the rise in incomes, increase in purchasing power, and significant consumer demand for nutritional & healthy products are also driving the consumption of vitamins in various industries in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Vitamins Market
4.2 Vitamins Market, By Key Country
4.3 Asia Pacific: Vitamins Market, By Type & Key Country
4.4 Vitamins Market, By Application & Region
4.5 Vitamins Market, By Source & Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Demand for Functional and Nutritionally Enriched Processed Food Products
5.2.1.2 Prevalence of Vitamin Deficiencies
5.2.1.3 Feed Fortification Due to Rise in Global Meat & Dairy Product Consumption
5.2.2 Restraints
5.2.2.1 Constrained Supply of Raw Materials for Natural Vitamins Coupled With High Costs
5.2.3 Opportunities
5.2.3.1 Sourcing of Natural Allergen-Free Vitamin E
5.2.4 Challenges
5.2.4.1 Scarcity of Ingredients and Price Sensitivity
5.2.4.2 Environmental Impact Resulting in Changes in Regulatory Policies
5.3 Supply Chain Analysis
6 Vitamins Market, By Type
6.1 Introduction
6.2 Vitamin B
6.3 Vitamin E
6.4 Vitamin D
6.5 Vitamin C
6.6 Vitamin A
6.7 Vitamin K
7 Vitamins Market, By Application
7.1 Introduction
7.2 Healthcare Products
7.3 Food & Beverages
7.3.1 Infant Food
7.3.2 Dairy Products
7.3.3 Bakery & Confectionery Products
7.3.4 Beverages
7.3.5 Others
7.4 Feed
7.5 Personal Care Products
8 Vitamins Market, By Source
8.1 Introduction
8.2 Synthetic
8.3 Natural
9 Vitamins Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 Australia
9.2.5 Rest of Asia Pacific
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 North America
9.4.1 US
9.4.2 Canada
9.4.3 Mexico
9.5 Rest of the World
9.5.1 South America
9.5.2 Middle East
9.5.3 Africa
10 Competitive Landscape
10.1 Overview
10.2 Key Market Strategies
10.3 Market Share Analysis
10.4 Competitive Scenario
10.4.1 Expansions & Investments
10.4.2 New Product Launches
10.4.3 Acquisitions
10.4.4 Agreements
11 Company Profiles
11.1 Koninklijke DSM N.V.
11.2 Glanbia PLC
11.3 ADM
11.4 BASF
11.5 Lonza Group
11.6 Vitablend Nederland B.V.
11.7 Sternvitamin GmbH & Co. KG
11.8 Farbest-Tallman Foods Corporation
11.9 Watson Inc.
11.10 Zagro
11.11 The Wright Group
11.12 Rabar Pty Ltd.
11.13 Adisseo
11.14 Showa Denko K.K.
11.15 BTSA Biotecnologas Aplicadas S.L
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