The global vitamins market is projected to grow significantly due to rising awareness of vitamin deficiencies. Global deficiency awareness 30% is driving supplement demand alongside a growing focus on preventive health 75% seeking improvement. An aging population reaching 20% during forecast period with specific nutritional needs creates a major market segment.
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Changing dietary trends like the 12% growth rate in vegan vitamin supplements highlight the need for targeted solutions. Finally easy access through e-commerce 30% of sales and expanding retail channels further fuel market expansion. This perfect storm of rising awareness, preventative focus and improved accessibility positions the vitamins market for substantial growth. Governments are actively involved in shaping the vitamins market beyond just industry trends. Public health education campaigns highlight the importance of balanced diets rich in essential vitamins. Additionally fortification programs target specific populations to address widespread deficiencies. The vitamins market rise due to its diverse applications across food, beverages, animal feed and healthcare. Rising awareness of vitamin deficiencies and busy lifestyles are fueling the market growth, as consumers seek supplements to bridge nutritional gaps. Processed food demand drives vitamin use. Fortification replaces lost nutrients while supplements address deficiencies and meet daily needs prompting food companies to use vitamins to comply with regulations and make health claims.
KEY DRIVERS:
A growing focus on preventative health and overall well-being is making vitamins popular for proactive health management
Consumers are turning to fortified processed foods for their ease and vitamins play a key role in restoring nutrients lost during processing. At the same time rising awareness of global vitamin deficiencies around 30% is pushing people towards supplements to fill nutritional gaps. This focus on both convenience and proactive health management positions vitamins as a vital player in the modern market.
The vitamins market is the growing focus on preventative health and overall well-being.
RESTRAINE:
High costs associated with sourcing raw materials for natural vitamins are a concern for the market.
High costs and limited availability of natural vitamin sources restrict the vitamins market. Extracting them from fruits and vegetables is expensive and these raw materials are prone to spoilage during transport. Maintaining freshness adds to the cost as does the manufacturing process itself. This combination of high extraction costs supply chain constraints and manufacturing expenses hinders the vitamins market.
Limited availability of natural vitamin sources restricts the vitamins market growth.
OPPORTUNITY:
Finding a reliable source of natural vitamin E suitable for those with allergies.
Vitamin E a powerful antioxidant is used in personal care products and comes in various forms. While alpha-tocopherol is the only one our bodies use natural sources like wheat germ and peanuts can trigger allergies in some. alternatives like sunflower seeds, avocados and almonds offer allergen-free options for getting daily dose of vitamin E 15mg for most adults. The vitamins market can develop formulations using whole foods, botanical extracts and plant-based sources. This aligns with the "clean-label" trend where clear communication of natural ingredients and minimal processing on labels is key.
A growing preference for natural and clean-label products is evident among consumers.
CHALLENGES:
Excessive vitamin intake poses a risk of health problems.
Taking too many vitamins causing health issues like toxicity, digestive problems and others lack proper knowledge of recommended dosages which leading to potential misuse. Misleading information and unregulated claims further add to the confusion highlighting the need for stricter regulations and consumer education.
Limited supply and tricky manufacturing inflate natural vitamin costs
The conflict between Russia-Ukraine has significantly impacted the vitamins market with various effects felt through a seemingly unrelated product like vegetable oil. Vegetable oils a key source of Vitamin E account for 10% of our daily calorie intake and are particularly important for affordable cooking. Since the war began vegetable oil prices have increase by almost 30% on average with sunflower oil a major source of Vitamin E experiencing a particularly sharp rise of over 40%. This is due to Ukraine and Russia being dominant players in the sunflower oil trade contributing 75% of the global market share. With minimal processing required for vegetable oils these price hikes have translated directly to consumers potentially impacting their ability to access a key source of Vitamin E. This situation highlights the complex and interconnected nature of global food systems where disruptions in one area can have flow effects on seemingly unrelated markets like vitamins.
The economic slowdown appears to be impacting vitamin sales while e-commerce growing during the pandemic over 80% growth it's now slowing significantly 3.9% growth. This suggests a shift towards potentially more affordable options with growth in brick-and-mortar stores 6.7% MLM channels 5.2% and practitioner channels 6.6%. Even Amazon's vitamin market share is dipping 35% to 32% with its contribution to growth shrinking 15% to 8%. This trend towards price-sensitive channels highlights how the economic slowdown might be influencing consumer behavior in the vitamins market.
By Type
Vitamin A
Vitamin B
Vitamin C
Vitamin D
Vitamin E
Vitamin K
Based on type, the diverse benefits of Vitamin B complex from tissue repair to nerve function position it for market holds the largest share in 2023. This essential group of nutrients goes beyond just keeping your nerves happy. It also aids in complex tissue regeneration making it crucial during pregnancy. Vitamin B's versatility extends beyond the body, as it's found in everyday products like cosmetics and dairy. These diverse and vital applications are expected to fuel the demand for Vitamin B complex in the years to come.
By Application Type
Healthcare Products
Personal Care
Food & Beverages
Infant Food
Beverages
Dairy Products
Bakery & Confectionery Products
Others
Feed
Based on the applications, Healthcare products encompassing dietary supplements and pharmaceuticals likely hold the biggest market share. Food and beverages particularly fortified options like dairy products, beverages and infant formula are another strong contender. Animal feed ensuring healthy livestock is also a significant segment. While personal care products utilize vitamins their overall market share is likely smaller compared to these core areas.
By Source Type
Synthetic
Natural
Based On the Source, The natural side is expected to be the future superstar growing at a speedy by share value of 52% during the forecast period. This surge is driven by the increasing popularity of "clean-label" products. People are looking for natural vitamins derived from plants or animals ditching the synthetic kind.
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The Asia-Pacific region boasts the biggest market share and the fastest growth rate by 45%. China takes the lead as the major consumer and importer of vitamins, driven by its massive population and a shift towards processed foods, convenience, and personal care. Interestingly, Japan and India within Asia Pacific present the most exciting growth opportunities, suggesting a dynamic market landscape. The dominance of the "end-user application segment" highlights the vast integration of vitamins into various products across the region. Furthermore, advanced manufacturing capabilities in Asia Pacific attract companies to set up production facilities, further solidifying its position as a global leader in the vitamins market.
The Europe currently holds the second largest spot but North America is poised for the fastest growth. This North American surge is driven by a health-conscious population embracing daily vitamins and concerns about fake products pushing them towards herbal options. Europe is countering with new vitamin products rising deficiencies and innovative functional beverages with Germany leading the pack and the UK experiencing the most internal growth.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major key players are as follows: ADM, Adisseo, BASF SE, BTSA Biotechnologias Aplicadas S.L., DSM, Farbest Brands, Glanbia Plc, Lonza Group, Rabar Pty Ltd, SternVitamin GmbH & Co. KG (Schleswig-Holstein) and Other Players.
In May 2024: Sales of B12 supplements are surging reflecting a growing awareness of the vitamin's importance. Data from IQVIA a clinical research agency confirms this trend. Recent tests by Pathkind Labs show that one in four Indians tested were deficient highlighting a potential "silent epidemic" of B12 deficiency in the country.
In May 2024: New research suggests Vitamin D might be a surprise weapon against cancer. A study fed mice a Vitamin D rich diet and found it boosted their immunity against cancer. Vitamin D appears to improve the gut bacteria linked to a stronger cancer immune response. This is promising but more research is needed.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 7.41 Billion |
| Market Size by 2031 | US$ 13.39 Billion |
| CAGR | CAGR of 7.67% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K) • By Application type (Healthcare products, Personal care, Food & beverages (Infant food, Beverages, Dairy products, Bakery & confectionery products, Others), Feed • By Source type (Synthetic, Natural) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | ADM, Adisseo, BASF SE, BTSA Biotechnologias Aplicadas S.L., DSM, Farbest Brands, Glanbia Plc, Lonza Group, Rabar Pty Ltd, SternVitamin GmbH & Co. KG (Schleswig-Holstein). |
| DRIVERS | • Increased demand for processed foods that are both functional and nutritionally enriched • Vitamin deficiency is becoming more common. |
| RESTRAINTS | • Raw material costs fluctuate. • Vitamin overabundance |
Ans: Vitamins Market size was USD 7.41 billion in 2023 and is expected to Reach USD 13.39 billion by 2031.
Increased demand for processed foods that are both functional and nutritionally enriched, Vitamin deficiency is becoming more common are all propelling Vitamins market forward.
APAC region will hold the largest share of the market.
ADM, Adisseo, BASF SE, BTSA Biotechnologias Aplicadas S.L., DSM, Farbest Brands, Glanbia Plc are the key players of the Vitamins Market.
Ans: The Vitamins Market is growing at a CAGR of 6.67% over the forecast period 2024-2031.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Vitamins Market Segmentation, By Type
9.1 Introduction
9.2 Trend Analysis
9.3 Vitamin A
9.4 Vitamin B
9.5 Vitamin C
9.6 Vitamin D
9.7 Vitamin E
9.8 Vitamin K
10. Vitamins Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Healthcare Products
10.4 Personal Care
10.5 Food & Beverages
10.5.1 Infant Food
10.5.2 Beverages
10.5.3 Dairy Products
10.5.4 Bakery & Confectionery Products
10.5.5 Others
10.6 Feed
11. Vitamins Market Segmentation, By Source Type
11.1 Introduction
11.2 Trend Analysis
11.3 Synthetic
11.4 Natural
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Vitamins Market by Country
12.2.3 North America Vitamins Market By Type
12.2.4 North America Vitamins Market By Application
12.2.5 North America Vitamins Market By Source Type
12.2.6 USA
12.2.6.1 USA Vitamins Market By Type
12.2.6.2 USA Vitamins Market By Application
12.2.6.3 USA Vitamins Market By Source Type
12.2.7 Canada
12.2.7.1 Canada Vitamins Market By Type
12.2.7.2 Canada Vitamins Market By Application
12.2.7.3 Canada Vitamins Market By Source Type
12.2.8 Mexico
12.2.8.1 Mexico Vitamins Market By Type
12.2.8.2 Mexico Vitamins Market By Application
12.2.8.3 Mexico Vitamins Market By Source Type
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Vitamins Market by Country
12.3.2.2 Eastern Europe Vitamins Market By Type
12.3.2.3 Eastern Europe Vitamins Market By Application
12.3.2.4 Eastern Europe Vitamins Market By Source Type
12.3.2.5 Poland
12.3.2.5.1 Poland Vitamins Market By Type
12.3.2.5.2 Poland Vitamins Market By Application
12.3.2.5.3 Poland Vitamins Market By Source Type
12.3.2.6 Romania
12.3.2.6.1 Romania Vitamins Market By Type
12.3.2.6.2 Romania Vitamins Market By Application
12.3.2.6.4 Romania Vitamins Market By Source Type
12.3.2.7 Hungary
12.3.2.7.1 Hungary Vitamins Market By Type
12.3.2.7.2 Hungary Vitamins Market By Application
12.3.2.7.3 Hungary Vitamins Market By Source Type
12.3.2.8 Turkey
12.3.2.8.1 Turkey Vitamins Market By Type
12.3.2.8.2 Turkey Vitamins Market By Application
12.3.2.8.3 Turkey Vitamins Market By Source Type
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Vitamins Market By Type
12.3.2.9.2 Rest of Eastern Europe Vitamins Market By Application
12.3.2.9.3 Rest of Eastern Europe Vitamins Market By Source Type
12.3.3 Western Europe
12.3.3.1 Western Europe Vitamins Market by Country
12.3.3.2 Western Europe Vitamins Market By Type
12.3.3.3 Western Europe Vitamins Market By Application
12.3.3.4 Western Europe Vitamins Market By Source Type
12.3.3.5 Germany
12.3.3.5.1 Germany Vitamins Market By Type
12.3.3.5.2 Germany Vitamins Market By Application
12.3.3.5.3 Germany Vitamins Market By Source Type
12.3.3.6 France
12.3.3.6.1 France Vitamins Market By Type
12.3.3.6.2 France Vitamins Market By Application
12.3.3.6.3 France Vitamins Market By Source Type
12.3.3.7 UK
12.3.3.7.1 UK Vitamins Market By Type
12.3.3.7.2 UK Vitamins Market By Application
12.3.3.7.3 UK Vitamins Market By Source Type
12.3.3.8 Italy
12.3.3.8.1 Italy Vitamins Market By Type
12.3.3.8.2 Italy Vitamins Market By Application
12.3.3.8.3 Italy Vitamins Market By Source Type
12.3.3.9 Spain
12.3.3.9.1 Spain Vitamins Market By Type
12.3.3.9.2 Spain Vitamins Market By Application
12.3.3.9.3 Spain Vitamins Market By Source Type
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Vitamins Market By Type
12.3.3.10.2 Netherlands Vitamins Market By Application
12.3.3.10.3 Netherlands Vitamins Market By Source Type
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Vitamins Market By Type
12.3.3.11.2 Switzerland Vitamins Market By Application
12.3.3.11.3 Switzerland Vitamins Market By Source Type
12.3.3.1.12 Austria
12.3.3.12.1 Austria Vitamins Market By Type
12.3.3.12.2 Austria Vitamins Market By Application
12.3.3.12.3 Austria Vitamins Market By Source Type
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Vitamins Market By Type
12.3.3.13.2 Rest of Western Europe Vitamins Market By Application
12.3.3.13.3 Rest of Western Europe Vitamins Market By Source Type
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Vitamins Market by Country
12.4.3 Asia-Pacific Vitamins Market By Type
12.4.4 Asia-Pacific Vitamins Market By Application
12.4.5 Asia-Pacific Vitamins Market By Source Type
12.4.6 China
12.4.6.1 China Vitamins Market By Type
12.4.6.2 China Vitamins Market By Application
12.4.6.3 China Vitamins Market By Source Type
12.4.7 India
12.4.7.1 India Vitamins Market By Type
12.4.7.2 India Vitamins Market By Application
12.4.7.3 India Vitamins Market By Source Type
12.4.8 Japan
12.4.8.1 Japan Vitamins Market By Type
12.4.8.2 Japan Vitamins Market By Application
12.4.8.3 Japan Vitamins Market By Source Type
12.4.9 South Korea
12.4.9.1 South Korea Vitamins Market By Type
12.4.9.2 South Korea Vitamins Market By Application
12.4.9.3 South Korea Vitamins Market By Source Type
12.4.10 Vietnam
12.4.10.1 Vietnam Vitamins Market By Type
12.4.10.2 Vietnam Vitamins Market By Application
12.4.10.3 Vietnam Vitamins Market By Source Type
12.4.11 Singapore
12.4.11.1 Singapore Vitamins Market By Type
12.4.11.2 Singapore Vitamins Market By Application
12.4.11.3 Singapore Vitamins Market By Source Type
12.4.12 Australia
12.4.12.1 Australia Vitamins Market By Type
12.4.12.2 Australia Vitamins Market By Application
12.4.12.3 Australia Vitamins Market By Source Type
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Vitamins Market By Type
12.4.13.2 Rest of Asia-Pacific Vitamins Market By Application
12.4.13.3 Rest of Asia-Pacific Vitamins Market By Source Type
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Vitamins Market by Country
12.5.2.2 Middle East Vitamins Market By Type
12.5.2.3 Middle East Vitamins Market By Application
12.5.2.4 Middle East Vitamins Market By Source Type
12.5.2.5 UAE
12.5.2.5.1 UAE Vitamins Market By Type
12.5.2.5.2 UAE Vitamins Market By Application
12.5.2.5.3 UAE Vitamins Market By Source Type
12.5.2.6 Egypt
12.5.2.6.1 Egypt Vitamins Market By Type
12.5.2.6.2 Egypt Vitamins Market By Application
12.5.2.6.3 Egypt Vitamins Market By Source Type
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Vitamins Market By Type
12.5.2.7.2 Saudi Arabia Vitamins Market By Application
12.5.2.7.3 Saudi Arabia Vitamins Market By Source Type
12.5.2.8 Qatar
12.5.2.8.1 Qatar Vitamins Market By Type
12.5.2.8.2 Qatar Vitamins Market By Application
12.5.2.8.3 Qatar Vitamins Market By Source Type
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Vitamins Market By Type
12.5.2.9.2 Rest of Middle East Vitamins Market By Application
12.5.2.9.3 Rest of Middle East Vitamins Market By Source Type
12.5.3 Africa
12.5.3.1 Africa Vitamins Market by Country
12.5.3.2 Africa Vitamins Market By Type
12.5.3.3 Africa Vitamins Market By Application
12.5.3.4 Africa Vitamins Market By Source Type
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Vitamins Market By Type
12.5.3.5.2 Nigeria Vitamins Market By Application
12.5.3.5.3 Nigeria Vitamins Market By Source Type
12.5.3.6 South Africa
12.5.3.6.1 South Africa Vitamins Market By Type
12.5.3.6.2 South Africa Vitamins Market By Application
12.5.3.6.3 South Africa Vitamins Market By Source Type
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Vitamins Market By Type
12.5.3.7.2 Rest of Africa Vitamins Market By Application
12.5.3.7.3 Rest of Africa Vitamins Market By Source Type
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Vitamins Market by country
12.6.3 Latin America Vitamins Market By Type
12.6.4 Latin America Vitamins Market By Application
12.6.5 Latin America Vitamins Market By Source Type
12.6.6 Brazil
12.6.6.1 Brazil Vitamins Market By Type
12.6.6.2 Brazil Vitamins Market By Application
12.6.6.3 Brazil Vitamins Market By Source Type
12.6.7 Argentina
12.6.7.1 Argentina Vitamins Market By Type
12.6.7.2 Argentina Vitamins Market By Application
12.6.7.3 Argentina Vitamins Market By Source Type
12.6.8 Colombia
12.6.8.1 Colombia Vitamins Market By Type
12.6.8.2 Colombia Vitamins Market By Application
12.6.8.3 Colombia Vitamins Market By Source Type
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Vitamins Market By Type
12.6.9.2 Rest of Latin America Vitamins Market By Application
12.6.9.3 Rest of Latin America Vitamins Market By Source Type
13. Company Profiles
13.1 ADM
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Adisseo
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 BASF SE
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 BTSA Biotechnologias Aplicadas S.L
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 DSM
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Farbest Brands
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Glanbia Plc
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Lonza Group
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Rabar Pty Ltd
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 SternVitamin GmbH & Co. KG (Schleswig-Holstein)
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Koninklijke DSM NV
13.11.1 Company Overview
13.11.2 Financial
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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