Global Vitamin D Market 2023-2030
MARKET OUTLOOK
Based on Triton’s research report, the global vitamin D market is expected to witness a growth trend at a CAGR of 7.51% during the forecast period 2023-2030.
Factors such as the growing use of dietary supplements, multiple applications of vitamin D across sectors, and the increasing popularity of fortified food products have accelerated the market’s growth.
Other than this, the rising popularity of vitamin formulations and nutricosmetics, coupled with growing demand for feed and pet food, creates opportunities for the vitamin D market globally. However, risks pertaining to excessive intake and high costs of vitamin D impede the global market’s scope for growth.
REGIONAL OUTLOOK
The global vitamin D market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
Globally, North America is expected to witness the fastest growth in the vitamin D market over the forecast period. Our analysis indicates the market will be driven by the rising demand for functional food and the high prevalence of vitamin D deficiency. In the US and Canada, the fortification of dairy products is expected to elevate in the upcoming years, which will surge the inclusion of vitamin D supplements in these products. Hence, as stated above, these factors are widening the growth prospects for the vitamin D market across the region.
COMPETITIVE OUTLOOK
The well-known companies thriving in the vitamin D market are Fermenta Biotech Limited, BASF SE, LycoRed Ltd, Zhejiang Garden Biochemical High-Tech Co Ltd, Dishman Carbogen Amcis Ltd, Synthesia a.s, Koninklijke DSM NV, Vitablend, Newgen Pharma, and Adisseo.
BASF SE is among the largest chemical companies globally. It is engaged in offering products across multiple industries, including agriculture, construction, and energy. The company’s product line is divided into six segments, including nutrition and care, agricultural solutions, and surface technologies. BASF has operations across Europe, Asia-Pacific, the Middle East, and North America, with headquarters in Germany.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook