New York, NY -- (SBWIRE) -- 04/09/2021 -- According to the current analysis of Reports and Data, the Global Vitamins market was valued at USD 5.1 Billion in 2018 and is expected to reach USD 10.12 Billion by year 2026, at a CAGR of 7.3%. Vitamins are widely used as dietary supplements. They are commonly prescribed by physicians as a medication for mild illness to severe chronic illnesses. It is believed that they help in enhancing immunity, improve wellbeing and aid in faster recovery of the illness. They are organic substances that must be provided in small quantities from environment, because they either cannot be synthesized in human body or their rate of synthesis is inadequate for maintenance of health. They are also self-prescribed by healthy people for enhancing their health, supplementing nutrition and prevention of minor ailments. It has been reported that these ingredients are one of the most common types of dietary supplements in the United States.

According to WHO, a projected 250 million preschool children are retinol deficient and it is likely that in vitamin A deficient areas a substantial proportion of pregnant women are retinol deficient. The increase in per-capita income with rising health awareness among people is driving the market. Furthermore, with ageing it becomes difficult for body to absorb vitamins directly from the normal food and hence these supplements become a necessity. However, the manufacturing of vitamins supplements is not uniform and strict government regulations for the production are hampering the industry.

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Further key findings from the report suggest

By application, healthcare products are anticipated to grow at a CAGR of about 6.5% during the analysis period. The growth of this segment can be attributed to the increased malnutrition cases across the world which is in turn rising the demand for the vitamins.

Asia Pacific is estimated to dominate the vitamins market in 2020 and is also projected to grow at the highest CAGR of 7.9% from 2018 to 2026. The market in this region is majorly driven by China, which is the largest producer, exporter, and consumer of vitamins. Further, the rise in incomes, increase in purchasing power, and significant consumer demand for nutritional & healthy products are also driving the consumption in various industries in the region.

Further, the market in Asia Pacific is also experiencing growth due to its growing application in the animal feed industry. The region accounts for the largest livestock population and caters to significant demands for livestock-based products such as milk, egg, meat and others. Quality feed is essential for livestock growth and performance. As the livestock owners are becoming increasingly conscious regarding the importance of adequate nutrition, essential micronutrients such as vitamins are experiencing significant growth in demand in Asia Pacific's feed industry. A total of 936 vitamin formulations are available in the Indian market. The nutrient profiles of the multivitamins vary widely. The lack of uniformity in labeling, as products contain 'multivitamins' (without specifying the actual composition), one or more minerals, antioxidants and various other nutritional supplements is impeding the vitamins market

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Vitamins market  has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Vitamins market are listed below:

Archer Daniels Midland Company, BASF SE, Btsa Biotecnologías Aplicadas AS, Farbest Brands, Glanbia PLC, Lonza Group Ltd., Rabar Pty., Ltd., Royal DSM NV, Showa Denko K.K, Pharmavitte and others.

By Type (Volume Metric Tons, Revenue, USD Million; 2019-2026)

Vitamin B

Vitamin E

Vitamin D

Vitamin C

Vitamin A

Vitamin K

By Source (Volume Metric Tons, Revenue, USD Million; 2019-2026)

Synthetic

Natural

By Application (Volume Metric Tons, Revenue, USD Million; 2019-2026)

Healthcare Products

Food & Beverages

Feed

Personal care products

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Radical Features of the Vitamins Market Report:

Valuable insights into the Vitamins market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Vitamins industry

Table Of Contents:

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018 – 2026

Chapter 3. Indicative Metrics

    3.1. Macro-Economic Indicators

          3.1.1. Rising Global Demand for Dietary supplements and Cosmetics

          3.1.2. Demand from emerging economies due to malnutrition

          3.1.3. Rise in per capita disposable income

Chapter 4. Vitamins Market Segmentation & Impact Analysis

    4.1. Vitamins Segmentation Analysis

    4.2. Vitamins Market Impact Analysis

          4.2.1. Market driver analysis

                  4.2.1.1. Rise in demand for functional and nutritionally enriched processed food products

                  4.2.1.2. Growing incidence of vitamin deficiencies

                  4.2.1.3. Increasing use of feed fortification.

         4.2.2. Market restraint analysis

                  4.2.2.1. Regulatory approval for its application in infant formula

                  4.2.2.2. Side effects of Vitamins

         4.2.3. Market opportunity analysis

                 4.2.3.1. To create awareness about night blindness, calcium deficiency and eye care

    4.3. Regulatory framework

    4.4. Porter's Five Force Analysis

          4.4.1. Threat of New Entrants

          4.4.2. Threat of Substitutes

          4.4.3. Bargaining Power of Suppliers

          4.4.4. Bargaining Power of Customers

          4.4.5. Competitive Rivalry

    4.5. Vitamins PESTEL Analysis

    4.6. Porters five forces model

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