USD 4.47 billion
Global Vitamin In Human Nutrition Market Size, Share, Growth Analysis, By Type(Multivitamin, Vitamin A), By Application(Dietary Supplements, Functional Nutrition), By End use(Adults, Geriatric), By distribution channel(OTC and Prescription) - Industry Forecast 2024-2031
Report ID:
SQSG30I2030 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
123 |
Figures:
77
Global Vitamin In Human Nutrition Market Insights
Vitamin In Human Nutrition Market size was valued at USD 4.47 billion in 2019 and is poised to grow from USD 4.8 billion in 2023 to USD 7.86 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).
Vitamins are goods that are consumed in tiny, concentrated dosages to support the body's physiological activities, maintain health, enhance physical and mental well-being, or lower the risk of disease. In recent years, the Healthcare (Nutrition and Pharmaceutical) and Personal Care sectors have expanded, expanding their commercial emphasis to new areas, and fulfilling common customer demands. The company's growth, together with the newest industry trends, has resulted in the development of transversal and creative market sectors focused on providing health and wellness advantages via the use of natural products and resources (e.g., vitamins). Vitamins supplements account for 10% of the global human nutrition. They are utilized as a food supplement for certain requirements ranging from disease-related to athletic.
A growing number of health-conscious customers and a preference for vitamins in daily diets are projected to fuel the vitamin in human nutrition market. The COVID-19 pandemic emphasized the need of vitamin intake. According to the United Kingdom's National Institute for Health and Care Excellence (NICE), vitamin D is crucial for bone and muscular health as well as boosting the body's immunological response to respiratory infections. Furthermore, it is advised that adults (including pregnant and nursing mothers), children, and young people over the age of four consume 10 micrograms of vitamin D daily.
US Vitamin In Human Nutrition Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Multivitamin
Fastest Growth
Multivitamin
Growth Rate
7.3% CAGR
Global Vitamin In Human Nutrition Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Vitamin In Human Nutrition Market By Type ($ Bn)
Global Vitamin In Human Nutrition Market By Type (%)
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Global Vitamin In Human Nutrition Market Segmental Analysis
The Global Vitamin in Human Nutrition Market is segmented based on Type, Application, end use, distribution channel, and Region. Based on the Type, the Global Vitamin in Human Nutrition Market is segmented as Multivitamin, Vitamin A, Vitamin B, Vitamin C, Vitamin E, Vitamin D, Vitamin K. Based on the Application, the Global Vitamin in Human Nutrition Market is segmented as Dietary Supplements, Functional Nutrition, Sports Nutrition, Infant Nutrition. By end use, the market is segmented into adults, geriatric, pregnant women, children, and infants. By distribution channel, the market is segmented into OTC and prescription. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Vitamin In Human Nutrition Market Analysis by Type
In 2022, the multivitamin category led the vitamin in human nutrition market, accounting for more than 40.0% of worldwide sales. Multivitamin supplements are made up of a mix of minerals and vitamins, as well as additional components. According to the World Health Organization, nearly 2 billion people worldwide are deficient in vitamins and minerals. To perform at their best, many athletes use multivitamin vitamins that supply full nutrients to sustain energy levels.
Vitamin C accounted for a significant portion of market revenue as well as volume and is expected to expand at the quickest CAGR during the forecast period. One of the most effective and safe vitamins is vitamin C. Vitamin C advantages include immune system support, cardiovascular health, pregnancy health, eye problems, and even skin aging.
Global Vitamin In Human Nutrition Market By Type, 2023 (%)
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Global Vitamin In Human Nutrition Market Regional Insights
North America held the largest Vitamin In Human Nutrition Market share. Obesity and lifestyle-related disorders are on the rise in North America because of more unhealthy diets, increased disposable money, and availability to a range of processed and ready-to-eat foods. Furthermore, functional foods and supplements have emerged in the "transitioning face of food," providing a wide range of health advantages in addition to basic nourishment.
Global Vitamin In Human Nutrition Market By Region, 2024-2031
- Largest
- Fastest
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Global Vitamin In Human Nutrition Market Dynamics
Vitamin In Human Nutrition Market Driver
The Rise of Higher-Income Middle Class In Emerging Markets
- The rise of a high-income middle class in emerging vitamin in human nutrition market is expected to drive the growth of the global human nutrition market. By the end of 2018, there were 679 million middle-class households in emerging countries, a figure that is expected to expand by 2.7% by 2030. In comparison, the number of middle-class households in developed countries was 176 million in 2018 and is expected to increase by 6.3% by 2030. Between 2019 and 2030, the number of households in developing countries with an annual disposable income of USD45,000-100,000 Purchasing power parity (PPP) is expected to rise by 5.6% per year on average, far outpacing the 1.2% annual growth expected for the total number of households. Their spending is expected to rise at a 6.9% annual rate in real terms through 2030, outpacing the 1.9% annual real spending growth forecast for households earning USD15,000-45000 (PPP
Vitamin In Human Nutrition Market Restraint
Raw Material Availability And Cost
- The price of a supplement can vary greatly depending on its ingredients' origin (synthetic or natural) and season. Synthetic ingredients have lower production costs and eliminate the need to manage natural sources from which the functional principles are to be extracted. However, synthetic raw materials cannot match the quality of natural raw materials. Another factor that can affect the final cost of dietary supplements is the bioavailability or seasonality of the raw materials used in the products. Furthermore, most natural ingredients are not available all year, or their prices may rise during certain months; these issues affect the cost of manufacturing a supplement. Ingredients produced after years of research and economic investment to provide substances of higher quality, efficacy, and absorption rate than those currently on the market will most likely be more expensive
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Global Vitamin In Human Nutrition Market Competitive Landscape
The acquisition is one of the key strategies adopted by the key players in this market. The acquisition offers reduced entry barriers, market power, access to experts, customer base, etc. BASF, DSM, Cargill, Glanbia PLC, and Kerry Group PLC are some of the players using this strategy to strengthen their business network and product portfolio. For instance, Cargill acquired Continental Grain and DSM acquired Prodap in 2021.
Vitamin In Human Nutrition Market Top Player's Company Profiles
- DSM
- BASF
- Lonza
- Archer Daniels Midland (ADM)
- DuPont
- Glanbia Nutritionals
- Farbest-Tallman Foods Corporation
- Watson Inc.
- SternVitamin GmbH & Co. KG
- Nutralliance
- Prinova Group LLC
- Bioenergy Life Science, Inc.
- Merck KGaA
- Nestle S.A.
- Pfizer Inc.
- Sanofi S.A.
- Bayer AG
- Roche Holding AG
- GNC Holdings Inc.
- Herbalife Nutrition Ltd.
Vitamin In Human Nutrition Market Recent Developments
- In February 2022, Cargill spent nearly $50 million to expand its Global Animal Nutrition Innovation Centre in Elk River
- In June 2022, Eastman Chemical’s research and development expenses for the quarter were $0.067B, a 6.35% increase year-over-year. Eastman Chemical research and development expenses for the twelve months ending June 30, 2022, were $265M, a 13.25% increase year-over-year
Global Vitamin In Human Nutrition Key Market Trends
- The human nutrition market witnessed increased prices across various segments such as Amino acids, Vitamins, Carotenoids, Omega 3, and Lipids. Multiple companies like DSM, BASF, Ajinomoto, and BASF have increased the prices of one or the other ingredient price by more than 10%. For instance, BASF increased vitamin E prices by 20%. Ajinomoto increased probiotic prices by 10%, and DSM hiked the prices of fish oils by 15%. For instance, DSM increased the price of fish oils by 15%.
Global Vitamin In Human Nutrition Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Vitamin in Human Nutrition Market Analysis, Product launch has been the vital strategy adopted by the key player in this market. Developing new products provides a means to target new markets, increase market share, sell more and increase revenue streams. Meanwhile redesigning existing products enables costs to be cut, margins to be increased and ultimately more profits to be made. Evonik, DSM, Chr. Hansen Holding A/S , and Glanbia launched new products in the past one year. For instance, Chr. Hansen Holding A/S launched two new products in 2022.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.47 billion |
| Market size value in 2031 | USD 7.86 billion |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Vitamin In Human Nutrition Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Vitamin In Human Nutrition Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Vitamin In Human Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Vitamin In Human Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Vitamin In Human Nutrition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Vitamin In Human Nutrition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Vitamin In Human Nutrition Market Report Snapshots
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