by The global Vitamin D Ingredients Market is estimated to be valued at US$ 3.23 Bn or Mn 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 ingredients are widely used in various food categories such as dairy products, beverages and other fortified food. It helps in maintaining levels of calcium and phosphate in the body that are needed for promoting growth and mineralization of the bones and teeth.
Market Key Trends:
One of the major trends in Vitamin D ingredients market is the increasing demand for clean label and organic products. With growing consumer awareness about health, there is a rising demand for organic and natural vitamin D ingredients. Another trend is the innovation of new delivery systems of vitamin D like nanoemulsions and liposomes which help in improved bioavailability. Research is also ongoing to develop vegetarian and non-animal derived forms of vitamin D through microbial fermentation which can further drive the growth of this market.
SWOT Analysis:
- Strength: Vitamin D ingredients have health benefits like maintaining bone and muscle health, immunity and cardiovascular health. Its consumption is growing due to increasing health awareness.
- Weakness: Excess consumption of vitamin D from supplements can cause hypervitaminosis D, a condition caused by too much vitamin D in the body. Also, availability is limited as it mainly comes from animal-based food and exposure to sunlight.
- Opportunity: Rising prevalence of vitamin D deficiencies worldwide due to indoor lifestyles and poor diet is driving the need for supplements. Growing elderly population also presents an opportunity.
- Threats: Stringent regulations for supplements and availability of alternative sources of vitamin D like exposure to sunlight pose threats. Price volatility of raw materials also affects the market.
Key Takeaways
The global Vitamin D Ingredients market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing health awareness and prevalence of vitamin D deficiencies globally.
Regional analysis: North America dominates the market currently due to high consumer awareness and aggressive fortification programs adopted by governments for foods. However, Asia Pacific is expected to grow at the fastest pace due to rising elderly population, growing health supplements industry and indoor lifestyles in the region.
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 strategies like new product launches, partnerships and expansions to strengthen their market presence.
