Global Vitamin D Market Insights Forecasts to 2030

• The Global Vitamin D Market Size was valued at USD 1.23 Billion in 2021
• The Market is Growing at a CAGR of 7.6% from 2021 to 2030
• The Worldwide Vitamin D Market Size is expected to reach USD 2.40 Billion by 2030
• North America is expected To Grow the fastest during the forecast period

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The Global Vitamin D Market is expected to reach USD 2.40 Billion by 2030, at a CAGR of 7.6% during the forecast period 2022 to 2030. The Vitamin D market is expected to grow significantly in the forecasting period, due to the vitamin fortification of food products gaining popularity as consumers in both developing and developed regions prefer products such as functional beverages, dietary supplements, and fortified processed foods that provide additional health benefits. As a result, rising consumer demand for such products is propelling the overall vitamin D market in the food and nutraceutical industries.

 

Market Overview

Vitamin D, also known as calciferol, is a fat-soluble vitamin. Vitamin D is a nutrient that the body requires in small amounts in order to function and remain healthy. It also aids the body's use of calcium and phosphorus in the formation of strong bones and teeth. It's fat-soluble (it dissolves in fats and oils) and can be found in fatty fish, egg yolks, and dairy products. It can also be produced by the skin that has been exposed to sunlight.

 

Globally, the majority of the world's population is vitamin D deficient due to a lack of a balanced diet and very little exposure to sunlight. As a result, several government organizations are taking the necessary steps to combat vitamin D deficiency around the world. Furthermore, key market players such as BASF SE, Xiamen Kingdomway, and Alliance Nutrition Inc. are increasing their focus on developing improved and enhanced vitamin D-enriched products to meet the growing demand of consumers worldwide.

 

For instance, in January 2023, in response to a petition filed by Kellogg Company, the United States Food and Drug Administration (FDA) has been announced that vitamin D3 can serve as a food additive in certain circumstances. FDA allowed for the use of vitamin D3 as a food additive in a specific set of categories, such as fruit juices, meal replacement bars, and drinks, certain cheese products, and certain types of milk.

 

This market's growth is primarily driven by rising demand for vitamins for the enrichment or fortification of food and beverages, rising prevalence of vitamin D deficiency, rising health and wellness trends, rising incidences of osteoporosis in women, and rising demand for dietary supplements.

 

Report Coverage

This research report categorizes the market for the global vitamin D market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the vitamin D market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the vitamin D market.

 

 

Driving Factors

One of the primary drivers of the vitamin D3 market is the fact that most of the world's population has insufficient vitamin D levels. Furthermore, the vitamin D3 market is expected to grow rapidly as people become more aware of its benefits and as the number of people suffering from rheumatoid arthritis and other bone-related disorders rises. The increased prevalence of disorders such as osteomalacia in adults and rickets in children, as well as increased food fortification with vitamin D3 as a result of government regulation in many countries, are just a few of the factors driving the vitamin D3 market's growth.

 

Vitamin fortification of food products is gaining popularity as consumers in both developing and developed regions prefer products such as functional beverages, dietary supplements, and fortified processed foods that provide additional health benefits. As a result, rising consumer demand for such products is propelling the overall vitamin D market in the food and nutraceutical industries.

 

Furthermore, government agency support has boosted the fortified foods sector. For example, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) have identified food fortification as a critical strategy for eradicating widespread malnutrition, particularly in developing countries. Vitamin D-fortified milk can help prevent rickets in young children. As a result, the increased consumption of such products is expected to propel the global vitamin D market forward.

 

Restraining Factors

Long-term high vitamin D3 doses can cause a variety of health problems, including elevated blood levels, calcium levels, and kidney failure. Nausea, loss of appetite, constipation, diarrhoea, vomiting, and headache are all common side effects. Furthermore, the high initial investments required for advanced manufacturing machinery, filling and packaging to avoid contaminations, and increasing productivity may hinder the market revenue growth during the projected period.

 

There are very few natural foods that contain vitamin D, as the result increasing the risk of vitamin D deficiency among consumers. Vitamin D and several other vitamins are facing a shortage of raw materials, which has caused a price increase. This high price is one of the most significant barriers to vitamin market growth.

 

Market Segmentation

 

The Global Vitamin D Market share is segmented into analog, form, end users, and application.

• The vitamin D2 segment is expected to grow at the fastest rate during the forecast period.

Based on the analog, the global vitamin D market is segmented into vitamin D2 and vitamin D3. Among these, the vitamin D2 segment is expected to grow at the fastest rate during the projected period. The reason behind the growth are the benefits of vitamin D2, its importance for immunity, and, it promotes bone health by aiding calcium and phosphorus absorption. It is also required for muscle and cognitive functions, as well as cell division and tooth health.

 

However, the vitamin D3 segment held the largest market share, in 2021, and is likely to grow at a considerable growth over the predicted period because of increased awareness of its various applications and the ever-increasing number of people suffering from rheumatoid arthritis and other bone-related disorders.

 

• The dry segment dominates the Vitamin D Market and is likely to grow at a considerable growth over the projected period.

Based on the form, the global vitamin D market is segmented into dry, liquid form. Among these, the dry form segment is expected to hold the majority of the global vitamin D market. This segment's large market share is primarily due to increased demand for dry form due to benefits such as stability and long shelf life, as well as ease of handling, transportation, and storage. Furthermore, due to its high solubility, there is an increasing demand for vitamin D in powder and capsule form.

 

However, the liquid form is expected to grow at the fastest rate during the forecast period due to its increasing use in food and beverage applications and the pharmaceutical industry. The liquid form segment is primarily used in food supplements to boost immunity, maintain cardiovascular health, and strengthen bones.

 

• Adults are expected to account for a significant revenue share during the projected period.

On the basis of end users, the global vitamin D market is differentiated into adults, pregnant women, and children. Among these, the adult segment is expected to grow steadily in the global vitamin D market over the forecast period. The increasing prevalence of many types of diseases in people over the age of 50, such as osteomalacia, osteopenia, and osteoporosis, due to severe vitamin D deficiency, is a key factor expected to foster the segment's growth and demand for the product. The high content of vitamins D2 and D3 is used to correct deficiencies in the human body and is required for healthy bones and teeth, paving the way for increased product adoption among adult consumers worldwide.

 

• In 2021, the pharmaceuticals segment held the largest market share.

On the basis of application, the global vitamin D market is differentiated into feed & pet food, pharma, functional food, and personal care. Among these, the pharmaceutical segment led the global market with a significant market share. The use of plant and animal-based products as a source of vitamin D in the formulation of various types of medicines is increasing. Furthermore, an increase in the number of people suffering from vitamin D deficiency around the world is expected to fuel the segment market's growth in the predicted years.

 

Furthermore, the functional food and beverage segment is expected to grow the most during the projected period due to the high utilisation of products in the manufacturing of several functional food and beverages, food supplements, dairy products, and fruit juices and drinks. The growing global demand for these functional food items for a healthier lifestyle and nutritional benefits is also expected to drive product demand.

 

Regional Segment Analysis of the Global Vitamin D market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

The Asia Pacific region held the largest share of the global vitamin D market.

 

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The Asia Pacific region dominated the market in 2021, with a significant market revenue share, and this dominance is expected to continue throughout the forecast period. The easy availability of raw materials such as milk, as well as the region's consistently rising consumer disposable income, are major factors driving market growth and demand. Furthermore, people's high vitamin D deficiency contributes to the market's growth. For example, due to the high prevalence of various noncommunicable diseases in the country, Malaysians have a high vitamin D deficiency when compared to other countries worldwide. Diabetes mellitus is becoming more common in Malaysia, according to the National Health Survey.

 

The North American region is anticipated to be the fastest-growing region during the predicted period as a result of increased consumer awareness about the various health benefits associated with vitamin D consumption. Furthermore, the lack of vitamin D in Canadian food has resulted in vitamin D deficiency, as they are not getting enough vitamins for their bodies. According to data from the Canadian Community Health Survey, nearly 90% of all age and gender groups had inadequate intakes. To meet the need for vitamin D among the Canadian population, Genestra Brands will introduce two new and improved vitamin D supplements, D-Mulsion 2500 and D3 2500, in November 2022, which help to reduce vitamin D deficiency and the risk of developing osteoporosis.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global vitamin D market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• BASF SE
• Bio-Tech Pharmacal
• Divi's Nutraceuticals
• Synthesia, a.s.
• PHW Group Lohmann & Co. 
• Sichuan Neijiang Huixin Pharmaceutical Co Ltd 
• Fermenta Biotech Ltd. 
• Dishman Group 
• Abbott Laboratories
• DSM 
• Zhejiang Xinhecheng Co., Ltd. 
• Xiamen Jindawei Vitamin Co., Ltd. 
• Zhejiang Medicine Co., Ltd 
• HangZhou Think Chemical Co.,Ltd. 
• Kingdomway Nutrition, Inc. 
• McKinley Resources Inc. 

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

In April 2022, Abbott has introduced Arachitol Gummies, an easy-to-take dietary supplement for daily Vitamin D, calcium, and curcumin requirements in children and adults. The orange fruit flavoured gummies, which have been approved by India's Food Safety and Standards Authority (FSSAI), will help with bone health, immunity, and overall well-being.

 

In August 2022, MD Pharmaceuticals and DSM, both based in Singapore, announced the development of Rapid-D, a faster-acting Vitamin D supplement. It is a vegetarian capsule product that contains ample-D, a type of vitamin D that aids in immunity.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global vitamin D market based on the below-mentioned segments:

 

Global Vitamin D Market, By Analog

• Vitamin D2
• Vitamin D3

 

Global Vitamin D Market, By Form

• Dry
• Liquid

 

Global Vitamin D Market, By End Users

• Adults
• Pregnant Women
• Children

 

Global Vitamin D Market, By Application

• Feed & Pet Food
• Pharma
• Functional Food
• Personal Care

 

Global Vitamin D Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa