Vitamin D Market worth $1.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 25, 2022 /PRNewswire/ -- The Vitamin D Market size is estimated to be valued at USD 1.3 billion in 2022 and is projected to reach USD 1.9 billion by 2027, recording a CAGR of 7.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. Increasing consumption of healthy products due to the increasing health and wellness trend has driven the demand for healthy functional ingredients such as vitamin D for use in foods and beverages in these countries. Furthermore, an increase in expenditure by consumers on healthcare and food & beverage products to compensate for vitamin D deficiencies has also driven the demand for vitamin D in these countries. The increasing prevalence of chronic lifestyle diseases and increasing acceptance of products with additional nutrients and ingredients among consumers are projected to drive market growth during the forecast period.
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The Vitamin D2 segment is estimated to grow at the highest growth rate during the forecast period in terms of value.
Vitamin D3 is more effective in raising vitamin D levels in your blood for a longer period than vitamin D2. On the other hand, vitamin D2 is sourced from plants, and vitamin D3 is derived from animals. Vitamin D2 is still prescribed to people with low vitamin D levels, because it's more readily available in higher doses. This change has compelled several manufacturers to shift their production lines from vitamin D3 to vitamin D2. An array of fortified food manufacturers in the global market are expected to experience rising demand for vitamin D2 ingredients as raw material for their line of products.
The liquid type in form segment contributes a major share in the vitamin D market in terms of value.
The liquid form of vitamin D products is tailored depending on customers' requirements for the potency level. The liquid form also finds application in the pharmaceutical, food, dietary, and nutraceutical supplement industries. The human body easily absorbs the liquid form of vitamin D3 without any breakdown process ensuring maximum benefits. This is highly beneficial for people with digestion problems, and this form of vitamin D is also used in the pharmaceutical industry to ensure optimal bone length and proper cardiovascular functions. For Instance- Fermenta Biotech Ltd. (India) offers vitamin D3 as edible oil for the pharmaceuticals, food supplements, and feed industries.
The feed & pet food segment holds the largest share of the vitamin D market in terms of volume.
Vitamin D deficiency in poultry feeds directly impacts chicken growth and production. The inadequacy of Vitamin D manifests as rickets in chicks, and osteomalacia in adult poultry birds, in which their bones become soft and rubbery. The most important physiological function of vitamin d3 powder is to regulate the metabolism of Ca and P in the body, especially to promote the formation of calcium-binding protein. Moreover, the appropriate level of vitamin d3 supplementation makes the animal's immune response strong, and the antibody concentration increases rapidly. All these factors are responsible for a huge segment share of feed & pet food in the vitamin D market.
Children segment is the second fastest-growing end user segment in the vitamin D market in terms of value.
Vitamin d deficiency in children has led to increased cases of rickets. Rickets is a disease in children caused due to deficiency of vitamin D; it affects the development of bones and causes soft, weak bones. This disease is prevalent among children in the age group of 3 to 18 months. Inadequate levels of sunlight exposure, skin pigmentation, immobility, birth to a vitamin D-deficient mother, malabsorption, and low intake of foods containing vitamin D are factors that lead to its deficiency. Vitamin D helps ensure that the body absorbs and retains calcium and phosphorus, both critical for building bone tissue.
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Asia Pacific is estimated to be the largest region for the vitamin D market in 2022.
The deficiency of Vitamin D is widespread in the Asia Pacific, particularly in South and Southeast Asia. This deficiency of vitamin D hurts bone mineral homeostasis and peak bone mass, and may subsequently lead to low bone mineral density. According to the International Monetary Fund (IMF), China and India are two of the fastest-growing economies in the world. Moreover, In 2020, China ranked as the top feed-producing country in the world with 207.89 million metric tons. This region has also witnessed a significant increase in manufacturing activities due to the support of the local governments. Increasing investments in R&D is also one of the factors driving the market in Asia Pacific.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Zhejiang Garden Biochemical High-Tech Co.Ltd (China), Koninklijke DSM N.V. (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India).
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