Asia-pacific Vitamin D Market 2023-2030
MARKET OUTLOOK
Triton’s research report on the Asia-Pacific vitamin D market states that the market is set to observe growth at a CAGR of 7.71% during the forecasted years of 2023-2030. Australia & New Zealand, India, China, Japan, South Korea, ASEAN countries, and Rest of Asia-Pacific are assessed in the region’s report.
In India, labeled products have high growth potential, which creates opportunities for manufacturers to venture into the plant-based vitamin D segment. There is also scope in the pharmaceutical and animal feed industries. Several prominent companies, like Dishman Group, manufacture vitamin D3 for feed applications across the nation. Such developments play a significant role in driving the Indian vitamin D market.
Furthermore, South Korea has gained prominence for innovation in the skincare industry. As per industry sources, skincare cosmetics represent a significant percentage of total cosmetic imports. In recent years, vegan cosmetics have gained significant traction among the nation’s population. The rising focus on enhancing the appearance is expected to elevate the integration of vitamin D ingredients in new cosmetic products, thereby fueling the studied market’s progression.
COMPETITIVE OUTLOOK
The notable players in the vitamin D market comprise BASF SE, Zhejiang Garden Biochemical High-Tech Co Ltd, Fermenta Biotech Limited, and Newgen Pharma.
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