According to a new report published by Fact.MR, the global vitamins and derivatives market is expected to surpass 165,000 tons by the end of 2026 in terms of volume. During the forecast period (2017-2026), the market is projected to exhibit a CAGR of 3.5% in term of value. Rising health awareness among consumers, increasing demand for healthy and functional food, expanding geriatric population are some of important factors likely to influence the global consumption of vitamins and derivatives during the review period. Moreover, increased demand for products with higher nutritional content is expected to reflect favorably on the market. In has been observed that, use of vitamin supplements has grown notably in the countries such as Brazil, China, Philippines and India, which has propelled the market further.
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Sufficient intake of vitamins and derivatives is important for maintaining a healthy body and preventing diseases that occur primarily due to weakness or malnourishment. Vitamins and derivatives are being added to a variety of food products owing to rapid consumer inclination towards product that are healthy. Also, changing lifestyle and emerging fast-food culture is making intake of dietary supplements essential to ensure balance diet. Growing importance of maintaining a healthy lifestyle is also driving the demand for vitamin supplements. Modern consumers want to lead a healthy and active life and thereby seek food products that can help them achieve their daily dietary goals.
Use of vitamins and derivatives is also increased in pharmaceutical products as they have the potentials of curing various metabolic syndrome diseases. Increased emphasis on towards preventive healthcare is fueling demand for value-added products. Vitamins and derivatives are available in the form of gummies and softgels, capsules, tablets, oral liquid, and powder.
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Key Insights from the Report Include:
- Based on target group, the adult women segment is expected to hold its dominant position over 2026. The segment currently represents for more than 51% revenue share of the global market and expected to exhibit a CAGR of 2.8% during the assessment period
- Consumption of vitamins and derivatives is relatively higher among adult women. This is primarily owing to a greater need for nutrition in adult women. Moreover, women all over the world are becoming increasingly conscious about their health and wellbeing.
- Among regions, North America is expected to dominate the global vitamins and derivatives market in 2018, and the trend is likely to continue throughout the forecast period.
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- On the basis of product type, the Vitamin B segment is expected to remain highly attractive in 2018 and beyond. Currently, the segment is command for over one-fourth revenue share of the global market and expected to reach a market valuation in excess of US$ 7,300 Mn by the 2026. Over the course the forecast period, the segment is anticipated to grow by US$ 297.7 Mn annually.
- On the basis of end use industry, the food and beverage segment is likely to retain its top position over 2026. By the end of 2026, this segment is estimated to surpass a market valuation of US$ 6,900 Mn, reflecting an above-average CAGR.
Global Market for Vitamins and Derivatives: Competition Tracking
Fact.MR in its report has profiled key market players, which include Herbalife, ADM, Abott Laboratories, Glanbia, Pfizer, Lonza Group Ltd, Sanofi, BoehringerIngelheim Consumer Health Care, CSPC Pharmaceutical Group Limited, Adisseo France S.A.S, Amway, Glanbia PLC, DSM, GlaxoSmithKline, Bayer, Jubilant Life Sciences Limited, Atrium Innovations, Inc., Schiff Nutrition International, Inc, Fermenta Biotech Ltd., and Bactolac Pharmaceutical, Inc.
Sneha Varghese is an experienced food & beverage consultant. She covers the latest trends and analysis impacting the food & beverages industry, informing and educating audiences through her writing.