Vitamins Market trends, Growth, Size & share

 

Vitamins Market

The Vitamins Market is projected to reach USD 9,875 million by 2027, growing at a CAGR of 7.3% during the forecast period (2020-2027).

The factors driving the growth of Vitamins Market includes growing demand for nutritionally enriched processed food products, increasing consumption of meat & dairy food products and rising consumers inclination towards adopting healthy lifestyles. According to the report published by Bloomberg, the Global Plant-Based Meat Market is anticipated to reach USD 24.8 billion by the end of 2030, exhibiting a CAGR of 19.3% over the forecast period (2022-2030), which is expected to boost the Vitamins Market Growth in the approaching years. Moreover, the increasing number of chronic diseases such as diabetes and obesity, rise in vitamin deficiencies and growing investments by manufacturers for developing enhanced multivitamin supplements, are some of the additional factors supplementing the Global Vitamins Market. In addition, the growing geriatric population, emerging need to boost the human immunity due to the advent of Covid-19 and improving living standards, are further propelling the market growth.

However, the growth of Vitamins Market is hindered due to strict quality inspection before product launch and unfavorable tax structures.

The major players operating in the market are SternVitamin GmbH & Co. KG, Farbest Brands, DSM, Glanbia plc, ADM, BASF SE, Vitamin Energy, The GHT Companies, Vitablend Nederland B.V. and Lonza among others.

Application – Segment Analysis

Based on application, the food & beverages segment is expected to grow at a faster CAGR over the forecast period attributed to the growing consumption of nutrition rich products and increasing demand for vitamin supplements.

Source – Segment Analysis

Based on source, the natural vitamins segment is projected to expand at a significant CAGR during the forecast period owing to increasing consumers inclination towards maintaining the personal health and wellness

 Regional – Segment Analysis

Based on region, the Asia-Pacific region is anticipated to capture the highest market share over the forecast period. The growing demand for nutrition rich supplements, increase in the number of chronic diseases such as Parkinson’s, dementia and diabetes and rising disposable incomes, are some of the important factors augmenting the market growth in Asia-Pacific.

Vitamins Market Segmentation

Global Vitamins Market by Type

  • Vitamin B
  • Vitamin E
  • Vitamin D
  • Vitamin C
  • Vitamin A
  • Vitamin K

Global Vitamins Market by Application

  • Healthcare Products
  • Food & Beverages
  • Feed
  • Personal Care Products

Global Vitamins Market by Source

  • Synthetic
  • Natural

Global Vitamins Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more