Table of Content

1 INTRODUCTION 26
1.1 STUDY OBJECTIVES 26
1.2 MARKET DEFINITION 26
1.3 STUDY SCOPE 27
FIGURE 1 MARKET SEGMENTATION 27
1.3.1 INCLUSIONS & EXCLUSIONS 27
1.3.2 REGIONS COVERED 28
1.4 YEARS CONSIDERED 28
1.5 CURRENCY CONSIDERED 29
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2018–2022 29
1.6 UNITS CONSIDERED 29
1.7 STAKEHOLDERS 30
1.8 SUMMARY OF CHANGES 30
1.9 RECESSION IMPACT 31

2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
FIGURE 2 VITAMINS MARKET: RESEARCH DESIGN 32
2.1.1 SECONDARY DATA 32
2.1.1.1 Key data from secondary sources 33
2.1.2 PRIMARY DATA 33
2.1.2.1 Key data from primary sources 33
2.1.2.2 Key industry insights 34
2.1.2.3 Breakdown of primary interviews 35
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 35
2.1.2.4 Primary sources 36
2.2 MARKET SIZE ESTIMATION 36
2.2.1 APPROACH ONE: BOTTOM UP 37
FIGURE 4 VITAMINS MARKET: APPROACH ONE (BOTTOM UP) 37
2.2.2 APPROACH TWO: TOP DOWN 38
FIGURE 5 VITAMINS MARKET: APPROACH TWO (TOP DOWN) 38
2.3 DATA TRIANGULATION 39
FIGURE 6 DATA TRIANGULATION METHODOLOGY 39
2.4 RESEARCH ASSUMPTIONS 40
FIGURE 7 RESEARCH ASSUMPTIONS CONSIDERED 40
2.5 LIMITATIONS 40
FIGURE 8 STUDY LIMITATIONS AND RISK ASSESSMENT 40
2.6 RECESSION IMPACT ON VITAMINS MARKET 41
2.6.1 MACROINDICATORS OF RECESSION 41
FIGURE 9 INDICATORS OF RECESSION 41
FIGURE 10 WORLD INFLATION RATE, 2011-2021 42
FIGURE 11 GLOBAL GDP, 2011-2021 (USD TRILLION) 42
FIGURE 12 RECESSION INDICATORS AND THEIR IMPACT ON VITAMINS MARKET 43
FIGURE 13 GLOBAL VITAMINS MARKET: EARLIER FORECAST VS. RECESSION FORECAST 44

3 EXECUTIVE SUMMARY 45
TABLE 2 VITAMINS MARKET SNAPSHOT, 2023 VS. 2028 45
FIGURE 14 VITAMINS MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION) 46
FIGURE 15 VITAMINS MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 46
FIGURE 16 VITAMINS MARKET, BY SOURCE, 2023 VS. 2028 (USD MILLION) 47
FIGURE 17 VITAMINS MARKET SHARE, BY REGION, 2022 48

4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN VITAMINS MARKET 49
FIGURE 18 GROWTH IN DEMAND FOR FUNCTIONAL AND NUTRITIONALLY ENRICHED PROCESSED FOOD PRODUCTS TO DRIVE DEMAND FOR VITAMINS 49
4.2 GLOBAL VITAMINS MARKET: CAGR OF MAJOR REGIONAL SUBMARKETS 50
FIGURE 19 CHINA WAS FASTEST-GROWING MARKET GLOBALLY FOR VITAMINS IN 2022 50
4.3 ASIA PACIFIC: VITAMINS MARKET, BY TYPE & KEY COUNTRY 50
FIGURE 20 VITAMIN B ACCOUNTED FOR LARGEST SHARE IN ASIA PACIFIC VITAMINS MARKET 50
4.4 GLOBAL VITAMINS MARKET, BY APPLICATION & REGION 51
FIGURE 21 ASIA PACIFIC AND HEALTHCARE PRODUCTS SEGMENTS PROJECTED TO DOMINATE MARKET 51
4.5 GLOBAL VITAMINS MARKET, BY TYPE 52
FIGURE 22 VITAMIN B PROJECTED TO DOMINATE DURING FORECAST PERIOD 52
4.6 GLOBAL VITAMINS MARKET, BY SOURCE 52
FIGURE 23 SYNTHETIC SEGMENT PROJECTED TO DOMINATE VITAMINS MARKET 52

5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MACROECONOMIC INDICATORS 53
5.2.1 GROWING MICRONUTRIENT DEFICIENCY 53
TABLE 3 VITAMIN DEFICIENCY AND ASSOCIATED RISKS 54
5.3 MARKET DYNAMICS 54
FIGURE 24 MARKET DYNAMICS: VITAMINS MARKET 54
5.3.1 DRIVERS 55
5.3.1.1 Growing demand for nutritionally enriched processed food products in market 55
5.3.1.2 Increasing prevalence of vitamin deficiencies 55
5.3.1.3 Feed fortification due to rise in global meat & dairy product consumption and feed production 56
FIGURE 25 MEAT CONSUMPTION, BY LIVESTOCK MEAT TYPE, 2015–2024 (KT CWE) 56
FIGURE 26 TOP 10 FEED-PRODUCING COUNTRIES, 2021 (MMT) 57
5.3.2 RESTRAINTS 57
5.3.2.1 Constrained supply of raw materials for natural vitamins coupled with high costs 57
5.3.3 OPPORTUNITIES 57
5.3.3.1 Sourcing of natural allergen-free vitamin E 57
5.3.3.2 Applications of vitamin D in personal care products 58
5.3.4 CHALLENGES 58
5.3.4.1 Scarcity of ingredients and price sensitivity 58
5.3.4.2 Environmental impact resulting in changes in regulatory policies 58

6 INDUSTRY TRENDS 59
6.1 INTRODUCTION 59
6.2 TRENDS IMPACTING CUSTOMERS’ BUSINESS 59
FIGURE 27 REVENUE SHIFT FOR VITAMINS MARKET 60
6.3 PRICING ANALYSIS 60
6.3.1 AVERAGE SELLING PRICE TREND ANALYSIS 60
TABLE 4 VITAMINS MARKET: AVERAGE SELLING PRICE, BY TYPE & REGION, 2022 (USD/TON) 60
TABLE 5 VITAMIN A: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 61
TABLE 6 VITAMIN B: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 61
TABLE 7 VITAMIN C: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 61
TABLE 8 VITAMIN D: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 61
TABLE 9 VITAMIN E: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 62
TABLE 10 VITAMIN K: AVERAGE SELLING PRICE, BY REGION, 2017–2022 (USD/TON) 62
6.4 VALUE CHAIN 62
6.4.1 RESEARCH & PRODUCT DEVELOPMENT 63
6.4.2 RAW MATERIAL SOURCING 63
6.4.3 PRODUCTION AND PROCESSING 63
6.4.4 DISTRIBUTION 63
6.4.5 MARKETING & SALES 63
FIGURE 28 VALUE CHAIN ANALYSIS OF VITAMINS MARKET 64
6.5 MARKET MAPPING AND ECOSYSTEM OF VITAMINS 64
6.5.1 DEMAND SIDE 64
6.5.2 SUPPLY SIDE 64
FIGURE 29 VITAMINS: MARKET MAP 65
TABLE 11 VITAMINS MARKET: SUPPLY CHAIN (ECOSYSTEM) 65
6.6 TRADE DATA: VITAMINS MARKET 66
TABLE 12 IMPORT DATA OF VITAMINS, BY COUNTRY, 2019 (USD THOUSAND) 66
TABLE 13 IMPORT DATA OF VITAMINS, BY COUNTRY, 2019 (TONS) 66
TABLE 14 EXPORT DATA OF VITAMINS, BY COUNTRY, 2019 (USD THOUSAND) 67
TABLE 15 EXPORT DATA OF VITAMINS, BY COUNTRY, 2019 (TONS) 68
6.7 PORTER’S FIVE FORCES ANALYSIS 68
TABLE 16 VITAMINS MARKET: PORTER’S FIVE FORCES ANALYSIS 69
6.7.1 INTENSITY OF COMPETITIVE RIVALRY 69
6.7.2 BARGAINING POWER OF SUPPLIERS 69
6.7.3 BARGAINING POWER OF BUYERS 69
6.7.4 THREAT OF SUBSTITUTES 70
6.7.5 THREAT OF NEW ENTRANTS 70
6.8 TECHNOLOGY ANALYSIS 70
6.9 PATENT ANALYSIS 70
FIGURE 30 NUMBER OF PATENTS GRANTED BETWEEN 2013 AND 2023 71
TABLE 17 PATENTS PERTAINING TO VITAMINS, 2020–2023 71
6.10 KEY CONFERENCES & EVENTS IN 2022–2024 73
TABLE 18 KEY CONFERENCES & EVENTS IN VITAMINS MARKET, 2023–2024 73
6.11 TARIFF AND REGULATORY LANDSCAPE 74
6.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74
TABLE 19 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 74
TABLE 20 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 21 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
6.11.2 VITAMIN REGULATIONS IN NORTH AMERICA 76
6.11.2.1 US 76
6.11.2.2 Canada 76
6.11.3 VITAMIN REGULATIONS IN EUROPE 77
6.11.4 VITAMIN REGULATIONS IN ASIA PACIFIC 77
6.11.4.1 China 77
6.11.4.2 India 77
6.12 KEY STAKEHOLDERS AND BUYING CRITERIA 77
FIGURE 31 INFLUENCE OF STAKEHOLDERS ON BUYING VITAMINS FOR DIFFERENT END-USE APPLICATIONS 78
TABLE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR VITAMINS 78
6.12.1 BUYING CRITERIA 78
FIGURE 32 KEY BUYING CRITERIA FOR TOP VITAMIN APPLICATIONS 78
TABLE 23 KEY BUYING CRITERIA FOR KEY VITAMIN APPLICATIONS 79
6.13 CASE STUDIES 79
TABLE 24 CASE STUDY: NEED FOR PLANT-BASED VITAMIN A TO CURB DEFICIENCY 79

7 VITAMINS MARKET, BY TYPE 80
7.1 INTRODUCTION 81
FIGURE 33 VITAMINS MARKET, BY TYPE, 2023 VS. 2028 81
TABLE 25 VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 81
TABLE 26 VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 82
7.2 VITAMIN B 82
7.2.1 RISING AWARENESS OF VITAMIN B-FORTIFIED FOODS TO BOOST MARKET 82
TABLE 27 VITAMIN B MARKET, BY REGION, 2017–2022 (USD MILLION) 82
TABLE 28 VITAMIN B MARKET, BY REGION, 2023–2028 (USD MILLION) 83
TABLE 29 VITAMIN B MARKET, BY REGION, 2017–2022 (KT) 83
TABLE 30 VITAMIN B MARKET, BY REGION, 2023–2028 (KT) 83
7.3 VITAMIN E 84
7.3.1 LIFE-THREATENING CONDITIONS CAUSED BY VITAMIN E DEFICIENCY TO BOOST DEMAND 84
TABLE 31 VITAMIN E MARKET, BY REGION, 2017–2022 (USD MILLION) 84
TABLE 32 VITAMIN E MARKET, BY REGION, 2023–2028 (USD MILLION) 84
TABLE 33 VITAMIN E MARKET, BY REGION, 2017–2022 (KT) 85
TABLE 34 VITAMIN E MARKET, BY REGION, 2023–2028 (KT) 85
7.4 VITAMIN D 85
7.4.1 LESS SUN EXPOSURE AND INCREASING USAGE OF SUNBLOCK CAUSING VITAMIN D DEFICIENCY TO DRIVE DEMAND 85
TABLE 35 VITAMIN D MARKET, BY REGION, 2017–2022 (USD MILLION) 86
TABLE 36 VITAMIN D MARKET, BY REGION, 2023–2028 (USD MILLION) 86
TABLE 37 VITAMIN D MARKET, BY REGION, 2017–2022 (KT) 86
TABLE 38 VITAMIN D MARKET, BY REGION, 2023–2028 (KT) 87
7.5 VITAMIN C 87
7.5.1 SALES OF VITAMIN C GROWING DUE TO INCREASING APPLICATION IN IRON SUPPLEMENTS 87
TABLE 39 VITAMIN C MARKET, BY REGION, 2017–2022 (USD MILLION) 87
TABLE 40 VITAMIN C MARKET, BY REGION, 2023–2028 (USD MILLION) 88
TABLE 41 VITAMIN C MARKET, BY REGION, 2017–2022 (KT) 88
TABLE 42 VITAMIN C MARKET, BY REGION, 2023–2028 (KT) 88
7.6 VITAMIN A 89
7.6.1 INCREASING PREVALENCE OF VITAMIN A DEFICIENCY TO DEMAND INCREASED FORTIFICATION 89
TABLE 43 VITAMIN A MARKET, BY REGION, 2017–2022 (USD MILLION) 89
TABLE 44 VITAMIN A MARKET, BY REGION, 2023–2028 (USD MILLION) 89
TABLE 45 VITAMIN A MARKET, BY REGION, 2017–2022 (KT) 90
TABLE 46 VITAMIN A MARKET, BY REGION, 2023–2028 (KT) 90
7.7 VITAMIN K 90
7.7.1 IMPORTANCE OF VITAMIN K FOR BONE AND BLOOD HEALTH TO FUEL DEMAND 90
TABLE 47 VITAMIN K MARKET, BY REGION, 2017–2022 (USD MILLION) 91
TABLE 48 VITAMIN K MARKET, BY REGION, 2023–2028 (USD MILLION) 91
TABLE 49 VITAMIN K MARKET, BY REGION, 2017–2022 (KT) 91
TABLE 50 VITAMIN K MARKET, BY REGION, 2023–2028 (KT) 92

8 VITAMINS MARKET, BY APPLICATION 93
8.1 INTRODUCTION 94
FIGURE 34 VITAMINS MARKET SHARE, BY APPLICATION, 2023 VS. 2028 (USD MILLION) 94
TABLE 51 VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 95
TABLE 52 VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 95
8.2 HEALTHCARE PRODUCTS 95
8.2.1 GROWING FOCUS OF HEALTH-CONSCIOUS CONSUMERS ON PREVENTATIVE HEALTHCARE TO DRIVE MARKET 95
TABLE 53 HEALTHCARE PRODUCTS: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 96
TABLE 54 HEALTHCARE PRODUCTS: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 96
8.3 FOOD & BEVERAGES 96
8.3.1 NEED TO FULFILL DIETARY REQUIREMENTS TO CONTRIBUTE TO GROWTH IN DEMAND 96
TABLE 55 FOOD & BEVERAGES: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 97
TABLE 56 FOOD & BEVERAGES: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 97
8.3.2 INFANT FOOD 97
8.3.3 DAIRY PRODUCTS 98
8.3.4 BAKERY & CONFECTIONERY PRODUCTS 98
8.3.5 BEVERAGES 98
8.3.6 OTHERS 98
TABLE 57 FOOD & BEVERAGES: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 99
TABLE 58 FOOD & BEVERAGES: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 99
8.4 FEED 99
8.4.1 GROWING FOCUS OF DEVELOPING ECONOMIES ON ANIMAL NUTRITION TO FUEL DEMAND 99
TABLE 59 FEED: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 100
TABLE 60 FEED: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 100
8.5 PERSONAL CARE PRODUCTS 100
8.5.1 INCREASING DEMAND FOR PRODUCTS CONTAINING ESSENTIAL VITAMINS TO DRIVE GROWTH OF SEGMENT 100
TABLE 61 PERSONAL CARE PRODUCTS: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 101
TABLE 62 PERSONAL CARE PRODUCTS: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 101

9 VITAMINS MARKET, BY SOURCE 102
9.1 INTRODUCTION 103
FIGURE 35 VITAMINS MARKET, BY SOURCE, 2023 VS. 2028 103
TABLE 63 VITAMINS MARKET, BY SOURCE, 2017–2022 (USD MILLION) 103
TABLE 64 VITAMINS MARKET, BY SOURCE, 2023–2028 (USD MILLION) 104
9.2 SYNTHETIC 104
9.2.1 LOW PRODUCTION COST OF SYNTHETIC VITAMINS TO FUEL DEMAND 104
TABLE 65 SYNTHETIC: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 104
TABLE 66 SYNTHETIC: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 105
9.3 NATURAL 105
9.3.1 RISING DEMAND FOR NATURAL PRODUCTS TO BOOST GROWTH 105
TABLE 67 NATURAL: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 106
TABLE 68 NATURAL: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 106

10 VITAMINS MARKET, BY REGION 107
10.1 INTRODUCTION 108
FIGURE 36 ASIA PACIFIC TO BE FASTEST-GROWING MARKET, 2023–2028 108
TABLE 69 VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 109
TABLE 70 VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 109
TABLE 71 VITAMINS MARKET, BY REGION, 2017–2022 (KT) 109
TABLE 72 VITAMINS MARKET, BY REGION, 2023–2028 (KT) 110
10.2 NORTH AMERICA 110
TABLE 73 NORTH AMERICA: VITAMINS MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 110
TABLE 74 NORTH AMERICA: VITAMINS MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 111
TABLE 75 NORTH AMERICA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 111
TABLE 76 NORTH AMERICA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 111
TABLE 77 NORTH AMERICA: VITAMINS MARKET, BY TYPE, 2017–2022 (KT) 112
TABLE 78 NORTH AMERICA: VITAMINS MARKET, BY TYPE, 2023–2028 (KT) 112
TABLE 79 NORTH AMERICA: VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 112
TABLE 80 NORTH AMERICA: VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 113
TABLE 81 NORTH AMERICA: VITAMINS MARKET, BY SOURCE, 2017–2022 (USD MILLION) 113
TABLE 82 NORTH AMERICA: VITAMINS MARKET, BY SOURCE, 2023–2028 (USD MILLION) 113
10.2.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS 113
FIGURE 37 NORTH AMERICAN VITAMINS MARKET: RECESSION IMPACT ANALYSIS 114
10.2.2 US 114
10.2.2.1 Rising demand and multiple strategic deals by key players to boost growth 114
TABLE 83 US: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 115
TABLE 84 US: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 115
10.2.3 CANADA 116
10.2.3.1 Growing importance of fortification in human and animal diets to fuel demand for vitamins 116
TABLE 85 CANADA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 116
TABLE 86 CANADA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 116
10.2.4 MEXICO 117
10.2.4.1 High prevalence of lifestyle diseases to demand more health supplements fortified with vitamins 117
TABLE 87 MEXICO: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 117
TABLE 88 MEXICO: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 117
10.3 EUROPE 118
10.3.1 EUROPE: RECESSION IMPACT ANALYSIS 118
FIGURE 38 EUROPE: VITAMINS MARKET SNAPSHOT 119
TABLE 89 EUROPE: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 119
TABLE 90 EUROPE: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 120
TABLE 91 EUROPE: VITAMINS MARKET, BY SOURCE, 2017–2022 (USD MILLION) 120
TABLE 92 EUROPE: VITAMINS MARKET, BY NATURE, 2023–2028 (USD MILLION) 120
TABLE 93 EUROPE: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 121
TABLE 94 EUROPE: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 121
TABLE 95 EUROPE: VITAMINS MARKET, BY TYPE, 2017–2022 (KT) 121
TABLE 96 EUROPE: VITAMINS MARKET, BY TYPE, 2023–2028 (KT) 122
TABLE 97 EUROPE: VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 122
TABLE 98 EUROPE: VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 122
10.3.2 GERMANY 123
10.3.2.1 Changing lifestyles and preferences for fortified food and dietary supplements to contribute to growth 123
TABLE 99 GERMANY: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 123
TABLE 100 GERMANY: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 123
10.3.3 FRANCE 124
10.3.3.1 Rising applications of wheat protein in feed sector to drive market 124
TABLE 101 FRANCE: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 124
TABLE 102 FRANCE: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 125
10.3.4 UK 125
10.3.4.1 Rising popularity of dietary supplements to fuel growth of vitamins market 125
TABLE 103 UK: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 125
TABLE 104 UK: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 126
10.3.5 ITALY 126
10.3.5.1 Rising popularity of healthy and functional foods driving demand for vitamins 126
TABLE 105 ITALY: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 126
TABLE 106 ITALY: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 127
10.3.6 SPAIN 127
10.3.6.1 Growing feed and food ingredients market to fuel demand for vitamins 127
TABLE 107 SPAIN: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 127
TABLE 108 SPAIN: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 128
10.3.7 REST OF EUROPE 128
10.3.7.1 Growing economies and rising awareness of health to drive demand for vitamins 128
TABLE 109 REST OF EUROPE: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 128
TABLE 110 REST OF EUROPE: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 129
10.4 ASIA PACIFIC 129
10.4.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS 129
FIGURE 39 ASIA PACIFIC: VITAMINS MARKET SNAPSHOT 130
TABLE 111 ASIA PACIFIC: VITAMINS MARKET, BY COUNTRY, 2017–2022 (USD MILLION) 131
TABLE 112 ASIA PACIFIC: VITAMINS MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 131
TABLE 113 ASIA PACIFIC: VITAMINS MARKET, BY SOURCE, 2017–2022 (USD MILLION) 131
TABLE 114 ASIA PACIFIC: VITAMINS MARKET, BY SOURCE, 2023–2028 (USD MILLION) 131
TABLE 115 ASIA PACIFIC: VITAMINS MARKET SIZE, BY TYPE, 2017–2022 (USD MILLION) 132
TABLE 116 ASIA PACIFIC: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 132
TABLE 117 ASIA PACIFIC: VITAMINS MARKET, BY TYPE, 2017–2022 (KT) 132
TABLE 118 ASIA PACIFIC: VITAMINS MARKET, BY TYPE, 2023–2028 (KT) 133
TABLE 119 ASIA PACIFIC: VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 133
TABLE 120 ASIA PACIFIC: VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 133
10.4.2 CHINA 134
10.4.2.1 Large geriatric population to fuel demand for vitamins 134
TABLE 121 CHINA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 134
TABLE 122 CHINA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 135
10.4.3 JAPAN 135
10.4.3.1 Significant demand for nutrient-enriched products to support market growth 135
TABLE 123 JAPAN: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 136
TABLE 124 JAPAN: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 136
10.4.4 INDIA 137
10.4.4.1 Rising popularity of dietary supplements to fuel demand for vitamins 137
TABLE 125 INDIA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 138
TABLE 126 INDIA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 138
10.4.5 AUSTRALIA & NEW ZEALAND 138
10.4.5.1 Changing consumer preferences and increasing health consciousness to drive demand 138
TABLE 127 AUSTRALIA & NEW ZEALAND: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 139
TABLE 128 AUSTRALIA & NEW ZEALAND: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 139
10.4.6 REST OF ASIA PACIFIC 140
10.4.6.1 Growing trend of combining beauty solutions with health to augment demand for vitamins 140
TABLE 129 REST OF ASIA PACIFIC: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 140
TABLE 130 REST OF ASIA PACIFIC: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 141
10.5 ROW 141
10.5.1 ROW: RECESSION IMPACT ANALYSIS 141
TABLE 131 ROW: VITAMINS MARKET, BY REGION, 2017–2022 (USD MILLION) 142
TABLE 132 ROW: VITAMINS MARKET, BY REGION, 2023–2028 (USD MILLION) 142
TABLE 133 ROW: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 142
TABLE 134 ROW: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 143
TABLE 135 ROW: VITAMINS MARKET, BY TYPE, 2017–2022 (KT) 143
TABLE 136 ROW: VITAMINS MARKET, BY TYPE, 2023–2028 (KT) 143
TABLE 137 ROW: VITAMINS MARKET, BY APPLICATION, 2017–2022 (USD MILLION) 144
TABLE 138 ROW: VITAMINS MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 144
TABLE 139 ROW: VITAMINS MARKET, BY SOURCE, 2017–2022 (USD MILLION) 144
TABLE 140 ROW: VITAMINS MARKET, BY SOURCE, 2023–2028 (USD MILLION) 144
10.5.2 SOUTH AMERICA 145
10.5.2.1 Increased vitamin consumption to fuel growth 145
TABLE 141 SOUTH AMERICA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 145
TABLE 142 SOUTH AMERICA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 145
10.5.3 MIDDLE EAST 146
10.5.3.1 Increasing demand for processed food products to drive market 146
TABLE 143 MIDDLE EAST: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 146
TABLE 144 MIDDLE EAST: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 146
10.5.4 AFRICA 147
10.5.4.1 High prevalence of malnutrition and micronutrient deficiencies to fuel demand for vitamin supplements 147
TABLE 145 AFRICA: VITAMINS MARKET, BY TYPE, 2017–2022 (USD MILLION) 147
TABLE 146 AFRICA: VITAMINS MARKET, BY TYPE, 2023–2028 (USD MILLION) 147

11 COMPETITIVE LANDSCAPE 148
11.1 OVERVIEW 148
11.2 STRATEGIES ADOPTED BY KEY PLAYERS 149
TABLE 147 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 149
11.3 HISTORICAL REVENUE ANALYSIS OF KEY PLAYERS 150
FIGURE 40 REVENUE ANALYSIS OF KEY PLAYERS IN MARKET, 2020–2022 (USD BILLION) 150
11.4 MARKET SHARE ANALYSIS 151
TABLE 148 MARKET SHARE ANALYSIS OF VITAMINS MARKET, 2022 151
11.5 COMPANY EVALUATION QUADRANT (KEY PLAYERS) 152
11.5.1 STARS 152
11.5.2 PERVASIVE PLAYERS 152
11.5.3 EMERGING LEADERS 152
11.5.4 PARTICIPANTS 152
FIGURE 41 VITAMINS MARKET: COMPANY EVALUATION QUADRANT, 2022 (KEY PLAYERS) 153
11.5.5 VITAMINS MARKET: PRODUCT FOOTPRINT (KEY PLAYERS) 154
TABLE 149 COMPANY FOOTPRINT, BY TYPE (KEY PLAYERS) 154
TABLE 150 COMPANY FOOTPRINT, BY APPLICATION (KEY PLAYERS) 154
TABLE 151 COMPANY FOOTPRINT, BY SOURCE (KEY PLAYERS) 155
TABLE 152 COMPANY FOOTPRINT, BY REGION (KEY PLAYERS) 155
TABLE 153 OVERALL COMPANY FOOTPRINT (KEY PLAYERS) 156
11.6 VITAMINS MARKET: EVALUATION QUADRANT OF STARTUPS/SMES 156
11.6.1 PROGRESSIVE COMPANIES 156
11.6.2 STARTING BLOCKS 156
11.6.3 RESPONSIVE COMPANIES 156
11.6.4 DYNAMIC COMPANIES 157
FIGURE 42 VITAMINS MARKET: COMPANY EVALUATION QUADRANT, 2022 (STARTUPS/SMES) 157
11.6.5 VITAMINS MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES 158
11.7 COMPETITIVE SCENARIO 158
11.7.1 PRODUCT LAUNCHES 158
TABLE 154 VITAMINS MARKET: PRODUCT LAUNCHES, 2019–2023 158
TABLE 155 VITAMINS MARKET: DEALS, 2019–2022 159
TABLE 156 VITAMINS MARKET: OTHERS, 2019–2022 159

12 COMPANY PROFILES 160
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
12.1 KEY PLAYERS 160
12.1.1 KONINKLIJKE DSM N.V. 160
TABLE 157 KONINKLIJKE DSM N.V.: BUSINESS OVERVIEW 160
FIGURE 43 KONINKLIJKE DSM N.V.: COMPANY SNAPSHOT 161
TABLE 158 KONINKLIJKE DSM N.V.: PRODUCTS OFFERED 161
TABLE 159 KONINKLIJKE DSM N.V.: PRODUCT LAUNCHES 163
TABLE 160 KONINKLIJKE DSM N.V.: DEALS 164
TABLE 161 KONINKLIJKE DSM N.V.: OTHERS 164
12.1.2 GLANBIA PLC 166
TABLE 162 GLANBIA PLC: BUSINESS OVERVIEW 166
FIGURE 44 GLANBIA PLC: COMPANY SNAPSHOT 166
TABLE 163 GLANBIA PLC: PRODUCTS OFFERED 167
12.1.3 ADM 168
TABLE 164 ADM: BUSINESS OVERVIEW 168
FIGURE 45 ADM: COMPANY SNAPSHOT 169
TABLE 165 ADM: PRODUCTS OFFERED 169
TABLE 166 ADM: DEALS 170
12.1.4 BASF 171
TABLE 167 BASF: BUSINESS OVERVIEW 171
FIGURE 46 BASF: COMPANY SNAPSHOT 172
TABLE 168 BASF: PRODUCTS OFFERED 172
12.1.5 LONZA GROUP 174
TABLE 169 LONZA GROUP: BUSINESS OVERVIEW 174
FIGURE 47 LONZA GROUP: COMPANY SNAPSHOT 174
TABLE 170 LONZA GROUP: PRODUCTS OFFERED 175
12.1.6 ADISSEO 176
TABLE 171 ADISSEO: BUSINESS OVERVIEW 176
TABLE 172 ADISSEO: PRODUCTS OFFERED 176
12.1.7 VITABLEND NEDERLAND B.V. 178
TABLE 173 VITABLEND NEDERLAND B.V.: BUSINESS OVERVIEW 178
TABLE 174 VITABLEND NEDERLAND B.V.: PRODUCTS OFFERED 178
12.1.8 STERNVITAMIN GMBH & CO. KG 180
TABLE 175 STERNVITAMIN GMBH & CO. KG: BUSINESS OVERVIEW 180
TABLE 176 STERNVITAMIN GMBH & CO. KG: PRODUCTS OFFERED 180
12.1.9 FARBEST-TALLMAN FOODS CORPORATION 182
TABLE 177 FARBEST-TALLMAN: BUSINESS OVERVIEW 182
TABLE 178 FARBEST-TALLMAN: PRODUCTS OFFERED 182
TABLE 179 FARBEST-TALLMAN: OTHERS 185
12.1.10 THE WRIGHT GROUP 186
TABLE 180 THE WRIGHT GROUP: BUSINESS OVERVIEW 186
TABLE 181 THE WRIGHT GROUP: PRODUCTS OFFERED 186
12.1.11 ZHEJIANG GARDEN BIOCHEMICAL HIGH-TECH CO., LTD 187
TABLE 182 ZHEJIANG GARDEN BIOCHEMICAL HIGH-TECH CO., LTD: BUSINESS OVERVIEW 187
TABLE 183 ZHEJIANG GARDEN BIOCHEMICAL HIGH-TECH CO., LTD: PRODUCTS OFFERED 187
12.1.12 NEWGEN PHARMA 189
TABLE 184 NEWGEN PHARMA: BUSINESS OVERVIEW 189
TABLE 185 NEWGEN PHARMA: PRODUCTS OFFERED 189
12.1.13 RABAR PTY LTD. 190
TABLE 186 RABAR PTY LTD.: BUSINESS OVERVIEW 190
TABLE 187 RABAR PTY LTD.: PRODUCTS OFFERED 190
12.1.14 RESONAC 192
TABLE 188 RESONAC: BUSINESS OVERVIEW 192
TABLE 189 RESONAC: PRODUCTS OFFERED 192
12.1.15 BTSA BIOTECNOLOG?AS APLICADAS S.L 193
TABLE 190 BTSA BIOTECNOLOG?AS APLICADAS S.L: BUSINESS OVERVIEW 193
TABLE 191 BTSA BIOTECNOLOG?AS APLICADAS S.L: PRODUCTS OFFERED 193
TABLE 192 BTSA BIOTECNOLOG?AS APLICADAS S.L: OTHERS 194
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.

13 ADJACENT AND RELATED MARKETS 195
13.1 INTRODUCTION 195
TABLE 193 ADJACENT MARKETS TO VITAMINS MARKET 195
13.2 LIMITATIONS 195
13.3 VITAMINS & MINERALS PREMIXES MARKET 195
13.3.1 MARKET DEFINITION 195
13.3.2 MARKET OVERVIEW 196
TABLE 194 VITAMINS & MINERALS PREMIXES MARKET, BY TYPE, 2019–2021 (USD MILLION) 196
TABLE 195 VITAMINS & MINERAL PREMIXES MARKET, BY TYPE, 2022–2027 (USD MILLION) 196
13.4 VITAMIN D MARKET 197
13.4.1 MARKET DEFINITION 197
13.4.2 MARKET OVERVIEW 197
TABLE 196 VITAMIN D MARKET, BY FORM, 2019–2021 (USD MILLION) 197
TABLE 197 VITAMIN D MARKET, BY FORM, 2022–2027 (USD MILLION) 197

14 APPENDIX 198
14.1 DISCUSSION GUIDE 198
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 202
14.3 CUSTOMIZATION OPTIONS 204
14.4 RELATED REPORTS 204
14.5 AUTHOR DETAILS 205