The Global Vitamin D Market was valued US$ 1.2 Bn in 2020 is expected to reach US$ 1.8 Bn by 2027, with a growing CAGR of 6.7 % during the forecast period (2021-2027).
Vitamin D is one of the key nutrients which help in development of body and immunity system. Vitamin D helps to promote growth of teeth and bones. It helps to prevent rickets in children and osteoporosis in adults. The rising incidence of diseases associated with deficiency of vitamin D drives the growth of market. Vitamin D industry is characterized by rising awareness about healthy life and functional food, where covid-19 outbreak has further accelerated the growth and demand of vitamin D market.
Vitamin D is one of the key nutrients which help in development of body and immunity system. Vitamin D helps to promote growth of teeth and bones. It helps to prevent rickets in children and osteoporosis in adults. The rising incidence of diseases associated with deficiency of vitamin D drives the growth of market. Vitamin D industry is characterized by rising awareness about healthy life and functional food, where covid-19 outbreak has further accelerated the growth and demand of vitamin D market.
Numerous benefits offered by vitamin D such as immunity booster and strengthen bones drives the growth of market. The market is expected to show substantial growth in coming years with increase in demand for vitamin D products and owing to healthy lifestyle.
The increase in revenue of vitamin D has proven effectiveness of vitamin D consumption. Vitamin D2 is sourced from plants and vitamin D3 is sourced from animal products. Children are considered to be major end user for vitamin D market. They require huge amount of vitamin D during development period for growing body internally and externally. It is proven that vitamin D reduces the risk of influenza and infection in children. Smarty Pants, BioGaia, Enfamil are some of the major players in vitamin D market.
Vitamin D Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the market are:
The unique insights provided by this report also includes the following:
Based on analog, vitamin D3 is expected to account for the highest market share in 2020 and is expected to maintain it’s dominance during the forecast period.
Based on analog, vitamin D market is segmented into vitamin D2 and vitamin D3. Vitamin D3 is expected to account for highest market share in 2020. Vitamin D3 is considered to be one of the most important micronutrients which is required for the growth and maintenance of bones and aversion of diseases associated with bones like rickets and osteoporosis. Vitamin D3 is widely used in food & beverages, feed, healthcare, and cosmetic industry. The use of vitamin D3 in food & beverage and pharmaceutical industries is highly regulated to avoid overuse and side effects. Vitamin D3 are comparatively more stable than vitamin D2, hence, this governs the growth of market in this segment.
However, vitamin D2 segment is expected to grow at highest CAGR during forecast period. Vitamin D2 is obtained from plants. Yeast and mushroom are rich in vitamin D2. Due to its natural source, people tend to consume more and this trigger the growth of market in this segment.
Based on form, dry form of vitamin D is expected to account for majority of market share during the forecast period due to high stability and shelf-life properties.
Based on form, vitamin D market include dry form and liquid form. Dry form of vitamin D estimated to hold maximum market share during forecast period. This is due to higher stability, ease of use, store and have higher shelf-life as compared to liquid vitamin D form. Vitamin D3 is highest selling segment and this is manufactured in dry form. This form of vitamin D is used in feed manufacturing as a premix or used in manufacturing of dietary supplements. Innovation in manufacturing techniques such as spray dry technique, enables the growth of this segment in vitamin D market.
Based on application, pharmaceutical segment is expected to grow at highest CAGR during the forecast period.
Based on application, vitamin D market is segmented into different applications such as pharmaceuticals, food & beverage, animal feed, personal care, and pet food. Pharmaceuticals dominated the market in 2020 as vitamin D has wide use in medicines. Vitamin D is used as capsules and health supplements. This drives the growth of the pharmaceutical segment in vitamin D market during the forecast period.
During covid-19, vitamins D has got immense importance. Food such as eggs, meat, chicken was highly consumed due to rich source of vitamins. Vitamin D tablets were highly prescribed by physicians in order to enhance immunity to fight against virus. This outbreak pulled the growth of this segment in vitamin D market.
Based on end user, children segment is expected to have maximum market share during the forecast period.
Based on end user, vitamin D market is segmented into children, adults, and pregnant women. Children segment is expected to have maximum share during the forecast period. Deficiency of vitamin D causes rickets in children and osteoporosis in adults. Children need vitamin D for the growth and development of the body and immunity. The major role of vitamin D in children is in development of skeletal structure and tooth enamel. More than adults, children are vulnerable to many diseases and thus they require immunity to resist the infection and illness. This helps to increase the demand for vitamin D products and accelerate the growth of vitamin D market.
Based on geographical region, Asia-Pacific region is estimated to dominate the vitamin D market in 2020.
Based on region, vitamin D market is segmented into a different regions such as North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. Asia-Pacific accounted for the largest share in the vitamin D market. This is due to growing of pharma companies and food industry. This region is projected to grow with significant rate due to rising income levels, increasing population and health awareness amongst the population. These factors impact the growth of vitamin D market in this region. Also, the covid-19 outbreak has increased the demand for vitamin D products and supplements in this region in order to enhance immunity and fight against virus.
North America accounted for the second-largest share in market in 2020. This is due to increasing health concerns in millennial population, rising vitamin D deficiency diseases case, and huge invest in pharmaceutical sector for development of innovative products are driving the market growth.
The report also provides in-depth analysis of vitamin D dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
Opportunities
COVID-19 Impact on the Vitamin D Market Analysis
Covid-19 has highly affected the industries in terms of growth, economy, health, and mental wellbeing of every individual. In this challenging situation, every industry is trying to give best services in terms of quality and safety. The onset of covid-19 has accelerated the growth of vitamin D market. Huge demand of immune booster medications and supplements which would enhance the immunity to fight against virus. Where the world was locked down, people tried to consume essential vitamins from natural sources such as eggs, meat, and fruits. There was increase in nutrition requirements across the globe. Government initiatives and lubricative investments in industries are expected to drive the growth of vitamin D market further. During the forecast period, market is expected to generate incremental revenue owing the increase in demand for nutraceuticals, functional beverages and vegan sources.
The report also provides in-depth analysis of key trends in vitamin D market
| Sr. No. | Trends | Impact |
| 1 | During covid-19, there was increase in demand for vitamin D products, which was used to develop and boost immunity to fight against virus | Positive |
| 2 | Increase in government initiatives, awareness regarding balance diet derived the growth of market | Positive |
The report also provides in-depth analysis of recent news developments and investments
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