Global Vitamin D Market: Key Highlights
- The Global Vitamin D Market is estimated to reach USD 1.8 Billion by 2027 at a CAGR of 7.2% during the review period
- The global Vitamin D market is segmented by type, application, and end-users channel
- Based on application the market is segmented by pharmaceuticals, functional food & beverages, personal care, feed & pet food, and others. pharmaceuticals segment accounted for the major market share and expected to grow at the fastest growth rate
- On the bases of the region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia-Pacific accounted for a large share aimed to the presence of major manufacturers, increasing adoption of technological advancement, and among others
Global Vitamin D Market: Key Market Dynamics
- Vitamin D deficiency led to the occurrence of various diseases such as cancer, diabetes, fatigue syndrome, and others have resulted in increasing demand for vitamin D to overcome the deficiencies
- Increasing consumer preference for fortified foods has expected to propel the demand for vitamin D further boosting the market growth
- Further, increasing awareness regarding bone & joint health is affecting the growth of the market positively
- However, regulatory standards imposed by various governing agents such as FDA (Food and Drug Administration), and others in order to prevent undesirable vitamin D toxicity is hindering the growth of the market
Request Sample PDF Here: https://www.forencisresearch.com/vitamin-d-market-sample-pdf/
Global Vitamin D Market: Regional Overview
- North America:
- North America region is further divided into the US, Canada, and Mexico. Globally, North America accounted for the major market share.
- The increasing prevalence of diseases has played a major role in developing a large market share. According to Mercy Medical Center, about 42% of the U.S. population is vitamin D deficient.
- This has resulted in increasing consumer preference towards fortified food, and dietary supplements to meet the nutritional requirements and maintain a healthy life.
- According to the Institute of Food Technologists (IFT), the U.S. sales of fortified food reached USD 63 billion as of February 2020. Additionally, 77% of U.S. adults used dietary supplements in 2019.
- Increasing health conscious populations is further influencing the growth of the vitamin D market
- Asia Pacific
- Asia Pacific region is segmented into five major countries including China, Japan, India, Australia, South Korea, and Rest of Asia Pacific
- Asia Pacific region is expected to grow at the fastest growth rate owing to rapid growth in pharmaceutical, functional food, and feed industries in developing countries
- China has the highest potential for fortified food followed by Indonesia, Japan, Hong Kong, India, Vietnam, Saudi Arabia, Mexico, Malaysia, and Brazil
- According to the Government of Canada, retail sales of fortified / functional packaged food was USD 83,917.9 million in 2020, and sales of fortified / functional beverage were USD 28,267.1 million in 2020
Global Vitamin D Market: Key Players
Some of the key players operating in the market include ADM, BASF SE, Bio-Tech Pharmacal, Dishman Group, Divi's Nutraceuticals, DSM, Fermenta Biotech Ltd, Glanbia plc, Nestlé, Pfizer Inc., Synthesia a.s., Zhejiang Garden Biochemical High-Tech Co., Ltd and among others.
Global Vitamin D Market: Key Developments
- In July 2020, Sativa Group PLC launched new cannabidiol (CBD) and Vitamin D product range in its wellness brand Goodbody. This launch will help the company to strengthen brand positioning.
- In April 2020, MOJU LTD has launched a plant-based vitamin D shot, sourced from seaweed combined with orange and fresh-pressed ginger root and turmeric root. This launch will help to fight the U.K vitamin D deficiency problem
About Forencis Research
Forencis Research is a B2B market research, intelligence, and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports, and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.
Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.
Phone: +1 (720) 306 9020