Vitamin D Market By Type (D2 and D3), By Form (Dry and Liquid), By Application (Functional Food & Beverages, Pharmaceutical Products & Dietary Supplements, Personal Care, and Pet Food & Animal Feed), and By End-User (Pregnant Women, Children, and Adults) - Global Analysis & Forecast 2020-2030
Report ID : 395 | Published Date : Sep 2020 | Pages : 170 | Region : Global | Report Code : FB-33
Vitamin D Market: Overview and Introduction
Vitamins A, B, C, D, E, and K are chemical compounds required by the human body to carry out several metabolic functions. The synthesis of Vitamin D is triggered within the human body when rays of sunlight strike the skin. The other sources of Vitamin D include food and dietary supplements. Seafood including cod, mackerel, salmon, and tuna, among others, are the rich sources of vitamin D. It is also present in foods & beverages such as meat, eggs, milk, mushrooms, and others. It is a fat-soluble vitamin that is biologically inert and gets activated within the body when it undergoes two levels of hydroxylation – one in the liver and the second one primarily in kidneys.
The growing cases of malnutrition and rising incidences of osteoporosis, especially in emerging economies, is a major factor influencing the growth of the vitamin D market. Rising awareness regarding vitamin D deficiency owing to favorable government initiatives and awareness campaigns also play a significant role in boosting the market growth. That being said, it is also true that some of the most developed countries, such as the U.S., are also not spared by vitamin D deficiency. The Centers for Disease Control and Prevention (CDC) states that vitamin D deficiency is prevalent in almost 8% of the Americans.
However, stringent regulations about the sale of vitamin D and other dietary supplements in certain countries may prove to be a hurdle for the market growth. The development of customized dietary supplements for pregnant women, pediatrics, adults, and geriatrics, on the other hand, will present significant growth opportunities to new as well as established market players.
The vitamin D market has been segmented based on type, form, application, end-user, and region.
Vitamin D Market By Type
Based on type, the vitamin D market can be segmented into D2 and D3. The widespread pharmaceutical applications of vitamin D2 owing to its effectiveness in treating various diseases caused due to vitamin D deficiency are expected to drive the market growth. Moreover, vitamin D2 is obtained naturally from plants unlike vitamin D3, which is mostly obtained from the skin of animals. Thus, D2 is preferred by the ever-growing vegan populations, especially in North America and Europe. Hence, the D2 segment is projected to grow at the highest CAGR during the forecast period.
Vitamin D Market By Form
Based on form, the vitamin D market can be segmented into dry and liquid. Vitamin D, in its dry form, offers several advantages including higher stability, the convenience of handling & storage, and ease of utilization. Thus, it is preferred by manufacturers for utilization in a broad spectrum of products. Thus, the dry segment is projected to grow at the highest CAGR during the forecast period.
Vitamin D Market By Application
Based on the application, the vitamin D market can be segmented into functional food & beverages, pharmaceutical products & dietary supplements, personal care, and animal feed. The functional food & beverage segment will grow at the highest CAGR owing to the high demand from manufacturers. The growing number of health-conscious consumers and rising awareness regarding vitamin D deficiency will boost the growth of this segment. The pharmaceutical products & dietary supplements segment, on the other hand, will grow at the second-highest CAGR owing to changing mindsets of people toward dietary supplements and the need to treat vitamin D deficiency through medicines.
Vitamin D Market By End-User
Based on end-user, the vitamin D market can be segmented into pregnant women, children, and adult. The children segment will grow at the highest CAGR owing to children lacking the intake of vitamin D. This further leads to slow bodily growth, brittleness of bones, and several other complications. The adult segment will grow at the second-highest CAGR owing to the rising prevalence of diseases, such as osteoporosis, among the elderly.
Vitamin D Market By Region
Based on the region, the global vitamin D market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America will hold a major share of the global vitamin D market. The high number of people suffering from vitamin D deficiency in the U.S. drives the demand for this vitamin. Furthermore, favorable government policies, high awareness, and growing concerns regarding health will further boost the market growth. The Asia Pacific region is expected to grow at the highest CAGR owing to the changing outlook of people in this region toward dietary supplements. The presence of market leaders coupled with key players planning to expand their presence in this region will also drive the regional market growth.
Some of the prominent players in the global vitamin D market include Dishman Group, Divi’s Nutraceutical, Stabicoat Vitamins, Lycored, Bio-Tech Pharmacal, Kingdom Nutrition Inc., New Gen Pharma Inc., Koninklijke DSM N.V., BASF, and Tocris Bioscience, among others.