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Vitamin D Market Size, Share & Industry Analysis, By Type (Vitamin D2, Vitamin D3), By Application (Fortified/Functional Food and Beverages, Pharmaceuticals, Animal Feed, Personal Care)and Regional Forecast, 2022-2029

Region : Global | Report ID: FBI102482 | Status : Ongoing

 

KEY MARKET INSIGHTS

The majority of the population worldwide is facing vitamin D deficiency due to lack of balanced diet and less exposure to sunlight. The human body acquires vitamin D through proper diet, through the skin, and in the form of supplements. Sunlight exposure triggers vitamin D synthesis in the body but too much exposure to sunlight can cause cancer due to ultraviolet rays. Furthermore, other than sunlight, there are very limited sources of vitamin D to fulfill the recommended dietary allowance of vitamin D.


The growing awareness among consumers about the benefits associated with vitamin D consumption is expected to drive the global vitamin D market. Vitamin D is necessarily required for the prevention of disorders such as neurogenerative disease, cardiovascular disease, cancer, and others. The various government organizations are taking initiatives to combat vitamin D deficiency all over the world. For instance, in April 2018, Food Safety and Standards Authority of India (FSSAI) launched ‘Project Dhoop' to ensure maximum absorption of Vitamin D in students through natural sunlight.


Key Market Driver -

Prevalence of Vitamin D Deficiency

Key Market Restraint -

Stringent Regulation on Fortified Foods


Vitamin D is essential for musculoskeletal health in all age groups. Deficiency of vitamin D can cause rickets in children and osteoporosis in adults. Rising prevalence of the aforementioned conditions is leading to increased doctor recommendations for consumption of vitamin D, which is further expected to drive the global vitamin D market. The rising awareness about preventive healthcare measures to supplement bone and joint health is expected to drive the global vitamin D market. The deficiency of vitamin D is becoming more prevalent in all age groups which means the consumer base for vitamin D supplements is projected to enlarge. The prominent market players are focused on research and development to come up with new and innovative product launches containing vitamin D in it. For instance, in January 2017, Asda Stores Ltd., a British supermarket chain launched Vitamin-D fortified fresh milk.


The stringent regulation on food fortification is expected to act as a restraint for the growth of the global vitamin D market. In December 2019, Taiwan Food and Drug Administration (FDA) introduced new laws for vitamin and mineral supplements, that nutritional labels on the product should include its title, total number of servings per package, serving amount, daily reference value percentage, vitamin, and mineral content.


Key Players Covered:


The key players operating in the global vitamin D market are Zhejiang Garden Biochemical High-Tech Co., Ltd, BASF, Koninklijke DSM NV, Taizhou Hisound Pharmaceutical Co., Ltd., Xiamen Kingdomway Vitamin Incorporation, Zhejiang Medicine Co., Ltd., Zhejiang Garden Biochemical High-Tech Co., Ltd., Dishman Group (India), Synthesia A.S., ADM Alliance Nutrition Inc., and others.


The two major forms of vitamin D are vitamin D2 (ergocalciferol) and vitamin D3 (cholecalciferol). The vitamin D2 segment is anticipated to witness a significant growth in the global vitamin D market as the human body cannot synthesize vitamin D2 itself. The use of Sunscreen, protective clothing, limited exposure to sunlight, dark skin, and age may prevent getting enough vitamin D3 from the sun which will increase the demand for vitamin D3 supplements in the foreseeable years.


A considerable proportion of vitamin D is lost during food processing and storage due to environmental conditions such as temperature, oxygen, pH, and others due to which the demand for vitamin D fortified food & supplements is expected to increase. World Health Organization (WHO) announced fortification as the most efficient and safest method to address micronutrient malnutrition. Vitamin D is also widely used in pharmaceutical industry due to rising number of diseases caused by vitamin D deficiency. The prominent companies operating in the market are focused on the research and development to innovate and launch novel products. For instance, in June 2019, Grofers, an online grocery company, launched a new G-Fresh Milk fortified with Vitamin A and D.


Regional Analysis


The vitamin D supplements are gaining immense popularity among North American consumers due to awareness regarding vitamin D consumption benefits. The lengthy indoor working hours are the primary reason for less sunlight exposure which will lead to vitamin D deficiency. The presence of a well-established market and high standard of living are expected to drive the demand for vitamin D enriched food products in North America. In colder seasons, due to less sun exposure body cannot synthesize the vitamin D of its own and hence consumption of dietary supplements fortified with vitamin D get increased in this region.


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Asia Pacific is expected to witness sturdy growth in the vitamin D market. The easy availability of raw products such as milk in this region is expected to drive the vitamin D market in this region. For instance, in November 2019, Himachal Pradesh (India) Chief Minister launched fortified milk of MILKFED with Vitamin A and D. The Middle East and Africa are expected to witness sturdy growth in vitamin D market due to different latitude, climate and skin pigmentation.


Segmentation






















 ATTRIBUTE


 DETAILS

By Type




  • Vitamin D2

  • Vitamin D3



By Application




  • Fortified/Functional Food and Beverages

  • Pharmaceuticals

  • Animal Feed

  • Personal Care



By Geography




  • North America (U.S., Canada, and Mexico)

  • Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In September 2019, Mother Dairy Calcutta launched Vitamin A and D enriched milk. The milk is being sold under Maa Shakti brand.

  • In March 2019, Thorne Research Inc. U.S. launched At-Home Health Tests for Vitamin D.


Vitamin D Market  Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2021
  • 2018-2020

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