Global Vitamin D Market 2023

Global Vitamin D Market 2023

Description
The global vitamin D market is expected to rise by USD 76.3 million with a CAGR of 5.3% by the end of 2029. Key drivers of this growth include its application in nutricosmetics, premixes, functional beverages, and the vegan sector. The market is highly competitive, with clinically proven formulas and scientific research being crucial for product differentiation. Vitamin D deficiency affects over 1 billion people worldwide due to inadequate diet and sunlight exposure, with factors like geography and demographics playing a role. The demand for supplements and functional foods has increased during the COVID-19 pandemic, driven by nutrition requirements, government initiatives, and industry investments. Vitamin D has been extensively studied for its impact on biological processes and its associations with illnesses such as cancer and autoimmune diseases. Topical skincare products containing vitamin D, especially those with 5,000 IU, have gained recognition for their therapeutic effects on conditions like psoriasis. Vitamin D insufficiency is a widespread condition globally, leading to poor bone health and increased risks of various diseases. Increased awareness of the importance of vitamin D contributes to the market's growth.

The report covers market size and growth, segmentation, competitive landscape, trends and strategies for global vitamin d market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Market Segmentation
The market is segmented based on various factors, including analog, form, application, end user, and geography.

Segmentation by Application
Pharmaceuticals
Animal Health
Functional Food and Beverages
Personal Care

Segmentation by Form
Dry
Liquid

Segmentation by Analog
Vitamin D2
Vitamin D3

Segmentation by End User
Humans
Animals

Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain, Russia, Poland
APAC - China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Thailand, Malaysia
Latin America – Brazil, Mexico, Argentina, Columbia
Middle East & Africa – South Africa, Saudi Arabia, Turkey

In 2022, the pharmaceuticals segment held a 48.4% share in the global vitamin D market, driven by its application in vitamin therapy and beauty supplements. Vitamin D plays a crucial role in calcium absorption and bone growth, making it essential for pharmaceutical companies. Deficiencies and medical complications related to vitamin D contribute to its importance. Dry vitamin D holds a dominant share of 71.7% due to its stability and extended shelf life. The vitamin D3 segment holds a significant share of 69.8% as it is the biologically active form found in humans and animals. The human segment is the largest end-user category at 67.1% due to the need for supplementation. Europe holds a significant share of 28.2% due to nutricosmetics, changing lifestyles, and the presence of pharmaceutical companies. Vitamin D deficiency is prevalent in Europe, making it a strong market. The growing vegan population poses challenges but also drives demand for vegan-enriched products. The COVID-19 pandemic has increased vitamin D supplement sales in Spain.

Competitive Landscape
The vitamin D market includes BASF SE, Bluestar Adisseo Co., Dishman Carbogen Amcis Ltd., Divi’s Laboratories Ltd., Fermenta Biotech Limited, Jiangxi Tianxin Pharmaceutical Co., Ltd., Koninklijke DSM N.V., LycoRed Ltd., Sichuan Neijiang Huixin Pharmacy Co., Ltd., Xiamen Kingdomway Group Company, Zhejiang Garden Bio-chemical High-tech Co., Ltd., Zhejiang Medicine Co., Ltd., Zhejiang NHU Co. Ltd., among others. These companies prioritize vitamin D3 as a premium ingredient due to its stability, longer shelf life, and versatility in various product forms. New vendors may offer opportunities for partnerships or collaborations. Online engagement and e-commerce channels are essential for lead generation and improving the end-user experience.

Scope of the Report
To analyze and forecast the market size of the global vitamin d market.
To classify and forecast the global vitamin d market based on analog, form, application, end user, geography.
To identify drivers and challenges for the global vitamin d market.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global vitamin d market.
To identify and analyze the profile of leading players operating in the global vitamin d market.

Why Choose This Report
Gain a reliable outlook of the global vitamin d market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
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