Vitamin D Ingredients Market Size to Grow at a CAGR of 8.9% During the Forecast Period 2021-2026
Research Reports
Sep 06, 2021
Vitamin D Ingredients Market size is estimated to be $3.06 billion in 2020, growing at a CAGR of 8.9% during the forecast period 2021-2026. Vitamin D is a fat-soluble vitamin that acts as a steroid hormone. In humans, the primary source of vitamin D is UVB-induced conversion of 7-dehydrocholestrol to vitamin D in the skin. Rising number of people suffering from rickets owing to poor nutrition, lack of exposure to sunlight, unhealthy eating habits and malabsorption syndromes in which the intestines do not adequately absorb nutrients from food is a vital factor contributing to its market growth. Apart from this vitamin D regulate the amount of calcium and phosphate in the body to keep bones, teeth, and muscles healthy. Besides, this the rising use of Vitamin D Ingredients in pharmaceutical, food and beverages, cosmetics, animal feed and others are a vital factor contributing to its market growth. Hence, the rising use of Vitamin D Ingredients in various industry for different purposes is a significant factor driving the market in the upcoming years. Furthermore, the increasing initiatives by government bodies to provide a proper vitamin D to the consumers is another factor propelling its market growth. For instance, in India, Indian Council of Medical Research (ICMR) recommends, a daily supplement of 400 IU/day for Indians under situations of minimal exposure to sunlight.
Vitamin D Ingredients Market Segment Analysis – By Product Type
By Product Type the Vitamin D Ingredients Market is segmented into Vitamin D3 and Vitamin D2. Vitamin D2 segment held the largest market share in the year 2020 owing to the rising health benefits associated with its consumption. Major sources of vitamin D2 are mushrooms, fortified foods, and dietary supplements. Moreover, mushrooms contain a super high concentration of two antioxidants, ergothioneine and glutathione which helps prevent Parkinson’s and Alzheimer disease. Hence, the rising benefits associated with vitamin D2 consumption coupled with the growing usage of it in various application is a vital factor contributing to its segmental growth. Also, vitamin D3 segment is projected to witness growth at fastest CAGR of 9.1% in forecast period 2021-2026. Moreover, vitamin D3 also known as sunshine vitamin is produced naturally in the skin when it is exposed to sunlight and though certain foods. In addition, vitamin D3 cleverly transforms into a hormone in the body and circulates in the bloodstream to help in the absorption of calcium and phosphorous. Hence, the rising benefits of vitamin D3 serves as a vital factor for its market growth in the future.
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Vitamin D Ingredients Market Segment Analysis – By Application
By Application, the Vitamin D Ingredients Market is segmented into Food & Beverages, Pharmaceutical, Cosmetic, Animal Feed and Others. Pharmaceutical segment held the largest market share in the year 2020 owing to the wide usage of Vitamin D Ingredients in capsules, tablet, and oral solutions. Moreover, vitamin D is a fat-soluble vitamin used in the treatment of hypoparathyroidism, refractory rickets also known as vitamin D resistant rickets and familial hypophosphatemia. In addition, vitamin D is available under the different brand names namely Drisdol, calciferol, cholecalciferol and ergocalciferol usually for adults and pediatrics in the form of oral solution, capsules, and tablets. Also, food & beverages segment is projected to witness growth at fastest CAGR during the forecast period 2021-2026 owing to the increasing demand among consumers for supplements with high vitamin D contents which in turn serves as an opportunity for manufacturers to coming up with a wide range of products. For instance, in November 2020 Tetley launched super squash in the U.K. based on a blend of real fruit juices enhanced by adding vitamins carrying 3 EFSA approval health benefits.
Vitamin D Ingredients Market Segment Analysis – By Geography
Asia Pacific contributed to the largest market share of 34.4% in 2020 owing to large number of people suffering from rickets in that region. For instance, a survey in Beijing indicated that vitamin-D deficiency occurred in more than 40% of adolescents’ girls in winter. Hence, an increase in the number of people suffering from rickets has eventually led to an increase in the of demand of vitamin D ingredients in food and beverages products in that region which in turn is fostering its market growth in that region. North America Vitamin D Ingredients market is another dominant market owing to the stringent government regulation to provide a better-quality product to its customer. For instance, in July 2016, FDA approved an increase to the amount of vitamin D that is added as optional ingredient to milk, and approved the addition of vitamin D to beverages, made from edible plants intended as milk alternatives such as beverages made from soy, almond, coconut and edible plant-based yoghurt alternatives.
Vitamin D Ingredients Market Drivers
Rising Demand of Vitamin D Ingredients in Cosmetic Industry
Rising Demand of Vitamin D Ingredients in Cosmetic Industry is a significant factor driving the Vitamin D Ingredients market during the forecast period 2021-2026.For instance, the most important practical use of vitamin D in the skin is to date is as a mild-to-moderate anti-inflammatory used clinically as a cream in the treatment of conditions such as psoriasis, eczema, and vitiligo. Therefore, the increasing number of people suffering from psoriasis and eczema has the led to the adoption of creams with vitamin D contents which in turn is propelling the demand of the Vitamin D Ingredients in the future.
Increasing Health Benefits Associated with Vitamin D Ingredients
Increasing health benefits associated with Vitamin D Ingredients is a major driving the Vitamin D Ingredients Market during the forecast period 2021-2026.Moreover, according to the Office of Dietary Supplements (OD), the key benefit of vitamin D is that it helps keep a person bone’s, muscles, and nerves healthy. In addition, it also contributes to a healthy immune system. Therefore, increasing health benefits offered by Vitamin D Ingredients coupled the rising use of Vitamin D Ingredients in various industry is a major factor driving its market growth in the upcoming years.
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Vitamin D Ingredients Market Challenges
Side-Effects of Vitamin D Ingredients
Side-Effects associated with excess consumption of Vitamin D Ingredients serves as a major setback for the growth of the Vitamin D Ingredients Market during the forecast period 2021-2026.Moreover, excess consumption vitamin D leads to nausea, vomiting, poor appetite, bone loss and kidney failure which in turn is restraining its market during the forecast period 2021-2026.
Vitamin D Ingredients Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures, and R&D activities are key strategies adopted by the players in Vitamin D Ingredients Market. Vitamin D Ingredients Market top 10 are Nestle S.A., BASF, Pfizer Inc., Koninklijke DSM N.V., ADM Alliance Nutrition Inc., Kraft Foods Group, GlaxoSmithKline, Schiff Nutrition International Inc., Barr Pharmaceutical and J.R. Carlson Laboratories.
Developments:
June 2017: Lallemand launched a new range of Instaferm VitaD premixes, which are blends composed of dried VitaD yeast and wheat flour for inclusion in bread, rolls, and fine bakery products.
Key Takeaways
Vitamin D2 segment held the largest market share in the year 2020 owing to the rising health benefits associated with its consumption.
Pharmaceuticals segment held the largest market share in the year 2020 owing to the wide usage of Vitamin D Ingredients in capsules, tablet, and oral solutions.
Asia Pacific contributed to the largest market share of 34.4% in 2020 owing to large number of people suffering from rickets in that region.
Rising Demand of Vitamin D Ingredients in Cosmetic Industry is a significant factor driving the Vitamin D Ingredients market during the forecast period 2021-2026.
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