Global Vitamin in Human Nutrition Market

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: July, 2001
Pages: 157 | Tables: 123 | Figures: 77

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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).

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. '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.'

The rise of a high-income middle class in emerging vitamin in human nutrition market is expected to drive the growth of the 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

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%.

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.

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