Market Overview:

Vitamins are organic compounds, which are essential for the normal growth and development of an organism. Vitamins are classified as water-soluble and fat-soluble vitamins. Increasing consumer awareness about wellbeing in North America and Europe is the key factor of the growth of the global vitamins market during 2017-2025. According to Coherent Market Insights---the market for vitamins is expanding at a CAGR of 4.98% during the forecast period. A rapidly increasing number of elderly people across the world is in turn projected to propel the market for vitamins during the forecast period. As with age, the body finds it difficult to absorb an adequate amount of nutrients from the food, also elderly people primarily suffer from vitamin D, which can be easily obtained by exposure to sunlight. Also, increasing incidence of lifestyle diseases such as deficiency of vitamins, night blindness, digestive disorder, and osteomalacia are expected to fuel the growth of the market for vitamins.

Vitamins are primarily extracted from two sources, namely, plant and animal sources. The increasing preferences for food supplements to fulfill the required needs, which in turn is expected to boost the market for vitamins. Moreover, milk, yoghurt, cheese are also extracted from animals that are rich in various kinds of vitamins. The animal source segment is dominating the global vitamin market in the last five years and is expected to retain the trend during the forecast period. However, the plant source is also gaining traction, due to the change in eating habits and consumer preferences for green vegetables and fruits.

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Market Dynamics:

North America dominated the market in 2016 and the trend is expected to remain the same during 2017-2025. The increasing demand for vitamins in various end-use industries such as food & beverages and pharmaceuticals, due to the rise in consumer awareness and stringent government regulations over the following years is the major driving force to position North America as the largest region in the global vitamins market. For instance, in June 2007, U.S. Food & Drug Administration (FDA), introduced a dietary supplement of "current Good Manufacturing Practice" (cGMP), these regulations force the manufacturers to evaluate their products through testing identity, purity, strength, and composition. Moreover, the European market is expected to experience significant growth, during the forecast period.

Detailed Segmentation:

Global Vitamins Market, By Source:

Plant

Animal

Others

Global Vitamins Market, By Product Type:

Vitamin A

Vitamin B

Vitamin C

Vitamin D

Vitamin E

Vitamin K

Global Vitamins Market, By End-Use Industry:

Food and Beverages

Personal Care

Animal Feed

Pharmaceutical

Others

Global Vitamins Market, By Distribution Channel:

Hypermarket

Supermarket

Mass Merchandisers

Specialty Stores

Others

Major players operating in the global vitamins market include Adisseo France S.A.S., Archer Daniels Midland Co., BASF SE, CSPC Pharmaceuticals Group Limited, Lonza Group Ltd., North China Pharmaceuticals Corporation, Pharmavite LLC, and Zhejiang Hangzhou Xinfu Pharmaceutical Co. Ltd., among others.

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