The report "Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), Iu Strength and Region - Global Forecast to 2025" . The Vitamin D market is estimated to account for USD 1.1 billion in 2020 and is projected to reach USD 1.6 billion by 2025, at a CAGR of 7.0%. The Vitamin D market is driven by growth in awareness of vitamin D deficiency, rise in incidences of osteoporosis in women, and increase in cases of malnutrition in children. However, the regulatory standards for vitamin D are creating a restraint in the market. The rising number of government initiatives and awareness campaigns is expected to create new growth opportunities for the growth of the market.
The pharmaceuticals segment is estimated to dominate the global market in 2020.
By application, the vitamin D market was dominated by the pharmaceuticals segment in 2019, in terms of value. However, the segment is valued higher, due to the high cost associated with the IU level or potency level of vitamin D used in the pharmaceutical industry. Further, very low quantity of vitamin D is used in pharmaceuticals, due to its high quality, and thus, the volume market is comparatively less than other applications. Globally, the volume market is dominated by the feed & pet food segment in the market. The pharmaceuticals segment is also projected to grow at the highest CAGR, owing to its wide usage in health supplements, injectable, and capsules.
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The dry segment is estimated to account for a larger share in the vitamin D market in 2020.
By form, the dry segment is estimated to account for a larger share in the market in 2020. The dry form of vitamin D is preferred by manufacturers due to its greater stability, ease of handling and storage, and convenience of usage in a wide range of products. Most of the vitamin D sold are synthetic. Vitamins D2 and D3 are mainly available in colorless crystals; their solubility in vegetable oil is low. The vitamin D3 analog is more stable as compared to that of vitamin D2. Vitamin D3 is estimated to be the majorly consumed vitamin D analog in the world.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
The deficiency of vitamin D is widespread in Asia Pacific, particularly in South and Southeast Asia. Rickets (a deformity due to “soft bones”) is very common in China and is a result of poor vitamin D consumption. Furthermore, the rise in income levels and significant consumer demand for nutritional & healthy products are expected to provide promising prospects for the growth and diversification of the region’s functional food & beverage products, in turn, leading to growth in the consumption of vitamin-infused products, and thereby driving the market growth.
China and India are two of the most favorable markets for vitamin D manufacturers for expansion, due to the rising demand for animal feed, fortified food products, and easy availability of raw materials. It has become a key destination for manufacturers of vitamin D supplements and pharmaceutical product companies such as the Alkem Laboratories (India), Cadila Pharmaceuticals (India), Abbott Laboratories (US), and Sanofi S.A (France).
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Key Market Players
The key players in the vitamin D market include Koninkljike DSM N.V (The Netherlands), Zhejiang Garden Biochemical High-Tech Co Ltd (China), Zhejiang Xinhecheng Co Ltd (China), Fermenta Biotech Ltd (India), Xiamen Jindawei Vitamin Co Ltd (China), BASF Se (Germany), Dishman Group (India), Taizhou Haisheng Pharmaceutical Co Ltd (China), Zhejiang Medicine Co Ltd (China), Glanbia PLC (Ireland), PHW Group (Germany), Bio-Tech Pharmacal (US), Divi’s Nutraceutical (India), Synthesia (CZE), Hangzhou Think Chemical Co Ltd (China), Sichuan Neijiang Huixin Pharmaceutical Co Ltd (China), Kingdom Nutrition Inc (US), McKinley Resources Inc (Texas), New Gen Pharma Inc (US), Taizhou Hisound Pharmaceutical Co Ltd (China), Pharmavit (The Netherlands), Tocris Bioscience (UK), Lycored (Israel), Stabicoat Vitamins (India), and Spectrum Chemical Mfg Corp (US). The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements in the last few years to meet the growing demand for vitamin D.