Global Vitamin D Market is expected to grow at a CAGR of 8.6% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Vitamin D Market by Form (Dry and Liquid), Analog (Vitamin D2 and Vitamin D3), Application (Functional Food & Beverages, Pharmaceuticals, Personal Care and Feed), End-User, Region, Global Forecast 2020-2027.
The global vitamin D market is expected to grow from USD 1.23 billion in 2019 to USD 2.37 billion by 2027, at a CAGR of 8.6% during the forecast period 2020-2027. Asia-Pacific, as a region, is projected to grow at a significant rate attributed to the rise in income level and increasing health awareness. Also, the increase in several diseases has had an impact on the market growth. Especially in countries like China and India where rickets in children is a common disease, and thus vitamin D is essential.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the vitamin D market are Koninklijke DSM N.V., Zhejiang Xinhecheng Co. Ltd., Fermenta Biotech Ltd., Xiamen Jindawei Vitamin Co. Ltd., BASF, Dishman Group, Zhejiang Garden Biochemical High-Tech Co. Ltd., Taizhou Haisheng Pharmaceutical Co. Ltd., Nestle and Pfizer.
The form segment includes dry and liquid. Out of which, the dry segment is projected to grow at an increasing rate over the years. The dry form has many benefits as compared to the liquid form. It has more stability, is easy to use, and handle and applies to a wide range of products. The analog segment includes vitamin D2 and D3. D2 is said to be the dominant segment and is expected to grow at higher CAGR. D2 is made naturally by plants, whereas D3 is made by the human body when exposed to UV rays. Vitamin D2 has many applications such as treating rickets, osteoporosis in children and adults, respectively. They are found majorly in mushrooms and yeasts. The application segment includes functional foods and beverages, pharmaceuticals, personal care and feed. Pharmaceuticals dominate the significant segment as vitamin D has broad applicability in medicines. Vitamin D is majorly used as health supplements and capsules. Thus, pharmaceuticals are expected to grow at a significant rate during the forecast period. The end-users segment includes children, adult and pregnant women. Among all, primary consumption is done by the children. They are vulnerable to many diseases. Thus, they require immunity to resist to the disorders.
Vitamin D has many benefits. They are used in strengthening the immune system. It is also essential in the formation of strong bones and healthy teeth. Many people take it as a supplement to improve their immune system. Vitamin D is a fat-soluble, and thus it is found naturally in particular products. It is majorly found in mushroom, fish, liver oil, egg yolk, etc. Vitamin D is essential in preventing rickets in children and osteoporosis and osteomalacia in adults. The rising number of diseases due to deficiency of vitamin D is expected to accelerate the market growth. Apart from these, its added benefits make it a daily supplement for many people.
About the report:
The global vitamin D market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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