Vitamins are essential nutrients necessary for proper healthy survival of an organism. These are not synthesized naturally in the body and need to be taken through the diet. There are thirteen recognized vitamins classified into six groups based on their biological and chemical activities. The six vitamin types are vitamin A, vitamin B complex, vitamin C, vitamin D, vitamin E and vitamin K.
Rising demand from cosmetics and pharmaceuticals markets is expected to drive the global vitamins market. Additionally, increased importance of sports nutrition is also contributing to market growth. Evolving innovative diet concepts are projected to be an opportunity for the market. However, strict regulations controlling the development of vitamin supplements are expected to restrain the above average market growth rates.
Vitamins find application in the foods, feed additives, pharmaceuticals, and the cosmetics industries. The cosmetics industry has emerged as the fastest growing end-user segment owing to its wide range of applications, such as key ingredients in sunscreens, skin-care lotions and anti-aging creams. Animal-feed additives market is the largest end-user segment, while an upswing in the food fortification market can be attributed the GRAS (Generally Recognized as Safe).
Vitamin E market is growing fast due to its varied functionality related to the skin and applications in cosmetics. Vitamin B complex finds diverse application in food and feed additives market. The other types of vitamins are majorly consumed by the pharmaceuticals sector and food fortification market.
Europe was the leading regional market while the U.S. had emerged as the single largest consumer of vitamins worldwide. Asia Pacific is expected to be the fastest growing regional market owing to its large population and improving lifestyle attributed to increasing disposable income.
Some of the major manufacturers in the vitamins market include Archer Daniels Midland Co., Adisseo France S.A.S, Aland (Jiangsu), BASF SE, Cargill Inc., Cognis Corp., and Nutraceutical Co., Ltd., among others.
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote