About Vitamins
Vitamins are organic molecules that are needed for normal health and growth. They are essential in trace amounts and must be obtained from the diet because they are not synthesized in the body. Lack of different vitamins and the overdose of various vitamin supplements can cause several diseases and permanent damages. The increased per-capita income and increased health awareness among people are the major factors boosting the market growth
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.6% |
The global market is quite fragmented and comprises various market players operating at global and regional levels. The report highlights every activity of each market player such as global standing, license agreement, revenue share, and product base. In addition, the report offers details about different strategies such as mergers and acquisitions, collaborations, joint ventures, and partnerships to retain their market position and enhance their product portfolio. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Vitamins market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Koninklijke DSM N.V. (Netherlands), Glanbia PLC (Ireland), ADM (United States), BASF (Germany), Lonza Group (Switzerland), Vitablend Nederland B.V. (Netherlands), Sternvitamin GmbH & Co. Kg (Germany), Farbest-Tallman Foods Corporation (United States), Pharmavite (Otsuka Pharmaceutical Co., Ltd.) (United States), Watson Inc. (United States) and Zagro (Singapore) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are The Wright Group (United States), Adisseo (China) and Showa Denko K.K. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Vitamins market by Type (Fat-soluble and Water-soluble), Application (Food & Beverages, Personal Care, Animal Feed and Pharmaceuticals) and Region.
On the basis of Type, Fat-soluble are dominating the market in the year 2023 where as Water-soluble stood as second largest market share.
On the basis of application, Food & beverages segment is dominating the market in the year 2023 where as Pharmaceuticals segment stood as second largest market .On the basis of geography, the market of Vitamins has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel , the sub-segment i.e. Hypermarket will boost the Vitamins market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Capsules will boost the Vitamins market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Vitamin-D projected to increase at the highest rate and Online Availability of Vitamins Ranges
Market Growth Drivers:
Increasing demand for vitamin supplements and Growing demand for functional and nutritionally enriched processed food products
Challenges:
A rising shift towards Ayurveda and Homeopathy and Low-Quality Vitamisn Product Range in the Market
Restraints:
Constrained Supply of Raw Materials for Vitamins Along with High Costs
Opportunities:
Obtaining of Natural Allergen-free Vitamin E and Surging Awareness about Consuming Vitamins
Market Leaders and their expansionary development strategies
In September 2023, Nestlé Health Science, a subsidiary of the food giant Nestlé, acquired The Bountiful Company, known for brands like Nature's Bounty and Pure Protein. This move strengthens Nestlé's position in the vitamins and supplements market.
In October 2023, Bayer launched "One A Day Essentials," a line of personalized multivitamins based on individual nutrient needs. This caters to the trend of customized wellness solutions.
"FDA regulates both finished dietary supplement products and dietary ingredients. FDA regulates dietary supplements under a different set of regulations than those covering "conventional" foods and drug products under the Dietary Supplement Health and Education Act of 1994 (DSHEA)."
Key Target Audience
Manufacturers of Vitamin, Importers and exporters Vitamin, Vitamin traders, distributors, and suppliers, Manufacturers and processors food and feed ingredient, Manufacturers, processors, distributors, and traders, Government and research organizations, Associations and industry bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.