Vitamin D Market Analysis | 2024-2032

Vitamin D Market Analysis | 2024-2032

Vitamin D Market Analysis | 2024-2032
Report code - SR2898 Delivery - 2 Weeks
Vitamin D Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunit See more...

Market Insights

“The Vitamin D market size was US$ 1.39 Billion in 2023 and is likely to grow at a decent CAGR of 6.9% in the long run to reach US$ 2.1 Billion in 2032.”

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Market Dynamics

Introduction

The vitamin D market is witnessing a rise in the demand for the supplementation of vitamin D in animal feed mainly in the agricultural industries. The global demand for high-value animal products and the upcoming desire of consumers to get more attributes in meat products such as texture, color, and flavor is the reason behind the acceleration of the industry. The main industrial societies worldwide, including the USA, are facing the growing demand for beef and pork with various factors like the decrease in the price, the improvement in quality of the product, and consumer safety regulations. The USDS projection foresaw the growth of poultry imports of the country in the upcoming decade. It was known that veal was going to be the main source of vitamin D, thus the demand for vitamin D in feed additives will be recorded, which will be the starting point for the same stuff in the same period.

Market Drivers

As a result of the increased health consciousness of consumers, the demand for food products that are fortified with essential nutrients is growing as people are trying to anticipate health issues and improve their well-being. This is a sign of the change in the tendency of healthcare that is more on the side of the preventive one, with a big preference for functional foods that are at the same time healthy for the body. The vitamin D fortification has become a major theme, which has led to the demand for fortified products such as functional beverages, dietary supplements, and fortified processed foods, in both developed and developing regions. The trend proves the existence of a great market opportunity in the food and nutraceutical industries, which is caused by the changing of consumer preferences towards health-conscious consumption habits.

Challenges

The vitamin D market is facing danger caused by lifestyle changes and the limited natural sources of the chemical. Vitamin D is synthesized when the skin is exposed to the sun’s rays; however, with less sunshine and the lack of natural foods that contain Vitamin D, the chances for deficiency thus are increased. The market is also encountering the problem of the scarcity of raw materials which, in turn, makes them expensive to purchase. The unstable demand alone would suffice to cause this industry to have a hard time, but the imbalance in raw material availability makes this problem even worse since any change in price would lead to a change in market prices. These challenges pile up which eventually result in the confinement of the avenue for vitamin D market growth that in turn generates the problems of expansion and market instability.

The regulatory guidelines and restrictions that are made in both the US and Europe in the nutrient addition to certain food categories, including fresh foods and raw foodstuffs, are the ones that limit the nutrient addition. The UK's vitamin D supplementation in milk has been restricted to the preservation of the natural qualities of milk as well. These supreme regulations, on the other hand, become a challenge for the usage and trade of vitamin D in the food industry, thus, they set the direction of the market growth. Nevertheless, the regulatory barriers are the obstacles that the vitamin D industry has to face to be widely adopted by different food products, and as a result, its overall growth is slowed down.

 Recent Product Development:

  • In August 2022, MD Pharmaceuticals, a Singapore-based healthcare distributor, collaborated with DSM to introduce Rapid-D, a novel Vitamin D supplement aimed at addressing nutritional needs. This strategic partnership highlights a commitment to innovation and catering to consumer demand for quality healthcare products.
  • In January 2020, Zhejiang Xinhecheng Co., Ltd. and DSM (Netherlands) solidified a sales and purchase agreement focused on cholesterol, a key precursor for the production of vitamin D3. This mutually beneficial agreement is poised to enhance Zhejiang Xinhecheng Co., Ltd.'s production capacity while bolstering its brand presence in the European market, underscoring a strategic move towards expansion and market diversification.

Segment Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Analog-Type Analysis

Vitamin D2 and Vitamin D3

Vitamin D2 is expected to be the dominant product for the wheat market and is likely to grow at the faster rate in the coming years.

End Users-Type Analysis

Adults, Pregnant Women, and Children

Adult end-user is likely to dominate as well as grow at the fastest rate in the forecasted period.

Form Analysis

Dry and Liquid

Dry form is anticipated to contribute a larger share in the forecasted period.

Application Analysis

Feed & Pet Food, Pharma, Functional Food, and Personal Care.

Feed & Pet Food is anticipated to contribute the largest share of the market

Regional Analysis

North America, Europe, Asia-Pacific, and The Rest of the World.

Asia-Pacific is expected to maintain its reign over the forecast period and is also likely to grow fastest.

 

By Analog Type

“Vitamin D2 is expected to remain the dominant type of the market during the forecast period.

  • The vitamin D2 segment is forecasted, during the period, to expand the volume of segments at a steady pace. The increasing demand for this vitamin is mainly caused by the fact that more and more people are now aware of this vitamin’s therapeutic effectiveness in solving calcium-related disorders, parathyroid orders, and other chronic kidney disease patients. Besides, the multiple disadvantages of vitamin D2 are now being discovered one by one, and they are not only related to immunity but also consider the function of bones, calcium and phosphorus absorption, muscle health, cognition, cell division, and dental health.
  • These factors collectively contribute to the accelerated growth projection for the vitamin D2 segment, reflecting its rising importance across diverse healthcare applications.

By End User Type

“Adult is expected to remain the largest end-user of the Vitamin D market during the forecast period”

  • The Adult segment is expected to be the fastest-growing among the end-user types in the vitamin D market in the coming years. The boost of this rise is due to the high level of vitamin D deficiency among people aged 50 and older.
  • The worst cases of this rate can lead to progressive diseases that are osteomalacia, osteopenia, and osteoporosis; these diseases are defined by the thickening of the joints like the ankles, wrists, and knees. On the other hand, NCBI states that aging adults have a 7-dehydrocholesterol concentration in the epidermis that is much lower than that of younger people which leads to an inadequate response to UV light and results in a great decrease in pre-vitamin D3 formation by up to 50%.
  •  To address this challenge, there is a growing need for increased consumption of vitamin D products among the elderly population.

By Form Type

Dry form is expected to remain the dominant and faster-growing form of the market during the forecast period

  • The desiccated part of the vitamin D market is expected to witness the maximum growth by form type in the coming years. The fact that this trend is growing is due to some reasons such as enhanced stability, easy handling, and better storage conditions as compared to liquid formulations.
  • Pharmaceutical-grade Vitamin D3 is mainly available in the pure crystalline form, which gives it a high potency, and thus, it can be used in smaller quantities in the formulations, hence, it is preferable to the small packaging.
  • Besides, the commercial sources of feed-grade vitamin D usually use the dry forms of vitamin D3 resin that are stabilized by spray or roll drying methods, the dry segment consequently, is pushed to grow more and more.

By Application Type

Feed & Pet Food is expected to remain the dominant and fastest-growing application of the market during the forecast period

  • The feed & pet food emerges as the largest application in the global vitamin D market in terms of volume.
  • Growing demand for enhanced feed products fuels the need for nutritional additives like vitamin D, particularly in the feed industry.
  • Countries such as India and China which are underdeveloped are now witnessing a higher importance on animal food, as a result the demand for various vitamins in the feed industry is permanently high.
  • Manufacturers of high-quality functional pet food are nowadays, more and more, adding nutrients like vitamin D to their products to make them meet the demands of the consumers who are rising.
  • The increase of the organized pet food sector in the US is the reason why pet food retail chains like PetSmart and PetCo are the main factors in the growth of the vitamin D market.

Regional Analysis

“Asia-Pacific is expected to remain the largest market for Vitamin D during the forecast period”.

  • With more than half of all osteoporotic fractures projected to occur in Asia by 2050, the region faces a significant health challenge, particularly in countries like China, where the elderly population is growing rapidly.
  • Osteoporosis has become a prevalent chronic disease among the geriatric population in Asia, contributing to an increased demand for healthcare products and fortified food and beverages enriched with essential micronutrients such as vitamin D.
  • The most obvious case of China's dominance in the vitamin D market is that it is the biggest producer, consumer, and exporter of the vitamin. The country has a strong production capacity which, together with the fact that local manufacturers and international giants like DSM and BASF SE are here, play a great role in the regional market's leading position.

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Key Players

The market is fragmented with the presence of over 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Vitamin D market.

Here is the list of the Top Players (Based on Dominance)

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth Analysis of the Vitamin D Market

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and Forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirement?

10% free customization

The global vitamin D market is segmented into the following categories. 

By Analog Type

  • Vitamin D2 
  • Vitamin D3

By End Users

  • Adults 
  • Pregnant Women
  • Children 

By Form

  • Dry 
  • Liquid 

By Application

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

By Region

  • North America (Country Analysis: The USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
  • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
  • Rest of the World (Country Analysis: Brazil, Saudi Arabian, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Frequently Asked Questions (FAQs)

Vitamin D is a fat-soluble vitamin that performs several indispensable functions in the human body. Its main purpose is to control the uptake of calcium and phosphorus, vital minerals for the proper health of bones and teeth.

The market is forecasted to reach US$ 2.1 billion in the forecasted period.

The market is estimated to grow at a CAGR of 6.9% by 2032, driven by increasing awareness of the importance of vitamin D for overall health.

Zhejiang Garden Biochemical High-Tech Co., Ltd (China), DSM (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd. (China), BASF (Germany), and Dishman Group (India) are the leading players in the vitamin D market.