(Entertainment-NewsWire.com, July 23, 2024 ) Pune, 22, July 2024: The Vitamin D Market was valued at USD 1.44 billion in 2023 and is expected to reach USD 2.8 billion by 2030, with a CAGR of 7.68%. Phosphorus is in the body and maintains proper bone structure. Vitamin D is found in very few natural foods. There are different forms of vitamin D, mainly ergocalciferol (vitamin D2) and cholecalciferol (vitamin D3). Vitamin D can be found in foods such as fish, eggs, and milk. Vitamin D is also produced and stored in human skin when it is exposed to sunlight. It is stored in fat and released in the absence of sunlight. Because lack of vitamin D in just a few daily foods causes vitamin D deficiency.
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Vitamin D supplements are usually used to treat and prevent such vitamin D deficiency. People who don't get enough sun and people over 60 are at risk of vitamin D deficiency. Vitamin D supplements are also used for weak and brittle bones, heart disease, asthma, etc. Due to the global problem of vitamin D deficiency in the population due to lack of a balanced diet and low exposure to sunlight, external consumption of vitamin D through supplements and fortified foods becomes inevitable.
Vitamin D Market Dynamics
In recent years, health-conscious consumers have sought not only nutritious foods but also foods that provide essential health ingredients to prevent potential illnesses and improve physical and mental well-being. The growing demand for healthy foods enriched with healthy ingredients has shown that consumers prefer prevention rather than cure. Awareness of this encourages consumers to include fortified foods in their diet. Vitamin fortification is rapidly becoming more common as consumers in developing and developed regions prefer products such as health drinks, nutritional supplements, and fortified processed foods that offer additional health benefits. Thus, the consumption of such products among consumers increases the general market of vitamin D in the food industry.
The livestock sector is growing rapidly to meet the growing global demand for valuable animal products. Because of this increased awareness, consumers pay more attention to the texture, color, and taste of meat and meat products. Promising markets for meat consumption growth can be expected from emerging regions such as Asia-Pacific, where countries such as China and Japan offer opportunistic prospects for meat consumption growth. These factors indicate a positive outlook for the lucrative vitamin market.
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Asia Pacific dominated the Vitamin D Market in 2023 and is expected to continue its dominance over the forecast period. Asia Pacific dominated the global vitamin D market, accounting for the lion's share of the market revenue, and the region is projected to maintain its dominant position during the forecast period. The Asia-Pacific region includes countries such as China, which is considered the largest producer, consumer, and exporter of vitamin D in the world, accounting for about 70.9 percent of all vitamin D production, according to the China Pharmaceutical Industry- association CPIA) and China Feed Industry Association (CFIA). All this is due to the easy availability of the raw products needed to extract vitamin D, such as milk, and the increase in the disposable income of the people in the region. Many local and global manufacturers in countries such as China and India are establishing their manufacturing and distribution offices in the Asia Pacific region, making the region the largest supplier of vitamin D worldwide.
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Based on the Form, the market is segmented into Vitamin D2 and vitamin D3. Vitamin D2 is expected to dominate the Vitamin D Market during the forecast period. The importance of vitamin D increases as it is used to treat calcium disorders and parathyroid disorders. It is also the recommended form for patients with chronic kidney disease. The benefits of vitamin D2 are multifaceted. Being important for immunity, it plays an active role in bone health and helps absorb calcium and phosphorus. It is also important for muscle and cognitive function, as well as cell division and healthy teeth.
By Application
Pharmaceuticals
Fortified Food and Beverage
Animal Feed
Personal Care
By End User
Adults
Pregnant women
Children
GLOBAL VITAMIN D MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
Vitamin D Key Competitors include:
Abbott (US)
Pfizer Inc. (US)
Merck & Co., Inc. (US)
Sanofi (US)
GlaxoSmithKline plc (UK)
Novartis International AG (Switzerland)
Torrent Pharmaceuticals Ltd. (India)
Sun Pharmaceutical Industries Ltd. (India)
Alkem Laboratories Ltd. (India)
Cadila Healthcare Ltd. (India)
DSM (Netherlands)
BASF SE (Germany), and other major players.
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Key questions answered in the Vitamin D Market report are:
Which market segment dominated the global Vitamin D market in 2023?
What are the current global trends in the Vitamin D market?
What future industry applications and trends are emerging in the Vitamin D market?
What growth strategies are companies adopting to expand their presence in the Vitamin D market?
Who are the leading companies in the Vitamin D market, and what are their product portfolios?
What are the primary challenges that the Vitamin D market may face in the future?
Which region had the largest share of the Vitamin D market in 2023?
How is the regulatory environment influencing the Vitamin D market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Vitamin D Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Vitamin D Market Segmentation
Competitive Landscape – Profiles of selected key players in a strategic perspective
Competitive landscape – Competitive Benchmarking, Vitamin D Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
Introspective Market Research, a prominent Food Ingredients research firm, has released the following reports:
Veterinary Medicinal Food & Beverages Additives Market: The Veterinary Medicinal Food & Beverages Additives Market size is expected to grow from USD 11.82 Billion in 2023 to USD 19.14 Billion by 2032, at a CAGR of 5.50% during the forecast period (2024-2032).
Functional Food Market: The Functional Food Market was estimated at USD 218.41 Billion in 2023 and is projected to reach USD 363.4 Billion by 2032, growing at a CAGR of 5.82% over the analysis period.
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