The global vitamin ingredients market reached a value of US$ 3.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.4% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Vitamin ingredients, or vitamers, refer to various organic compounds that exhibit similar properties to naturally occurring vitamins. They are obtained from fruits, vegetables and animal-based sources and are developed to fulfill nutritional deficiencies in the body. Water-soluble and fat-soluble are the two most commonly available vitamin ingredients. The water-soluble vitamers are used for immediate absorption and providing instant nourishment to the body and fat-soluble vitamers are diffused in fats and stored in the liver for later absorption. These vitamin ingredients aid in minimizing the risks of developing cardiovascular diseases, diabetes, eye disorders, signs of aging and heat strokes. As a result, they are widely used in the manufacturing of food and beverages, animal feed and pharmaceuticals.
The increasing prevalence of chronic medical ailments related to vitamin deficiencies, along with the rising geriatric population across the globe, represents one of the key factors driving the growth of the market. Furthermore, the rising demand for functional and nutritionally-enriched food products is creating a positive outlook for the market. Vitamins are considered to be an essential component of the daily diet as they aid in overall growth, digestion and neurological functions. Vitamin ingredients are used in the medical nutrition industry for the treatment of malnutrition and deficiency-related disorders. In line with this, the manufacturing of animal feed fortified with vitamers for enhanced nourishment in meat and dairy products is also contributing to the market growth. Additionally, various product innovations, such as the development of natural and allergen-free Vitamin E, are acting as other growth-inducing factors. These vitamers are extensively used in organic and herbal haircare, skincare, cosmetics and other personal care products, which, in turn, is driving the market further toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vitamin ingredients market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, form, source and application.
Breakup by Type:
Breakup by Form:
Tablets and Capsules
Breakup by Source:
Breakup by Application:
Foods and Beverages
Personal Care Products
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Archer Daniels Midland Company, BASF SA, Bluestar Adisseo Company, Btsa Biotecnolog?as Aplicadas S.L., Farbest-Tallman Foods Corp., Glanbia Plc, Koninklijke DSM N.V., Lonza Group, Nestl? S.A., Pfizer Inc., Rabar Pty Ltd. and The Wright Group. Key Questions Answered in This Report:
How has the global vitamin ingredients market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global vitamin ingredients market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the source?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vitamin ingredients market and who are the key players?
What is the degree of competition in the industry?