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Vitamin D Market - Global Outlook & Forecast 2022-2027

TO BE PUBLISHED : Nov 2022 | Pages : 322

THE GLOBAL VITAMIN D MARKET SIZE WAS VALUED AT USD 1.64 BILLION IN 2021 AND IS EXPECTED TO REACH USD 2.68 BILLION BY 2027, GROWING AT A CAGR OF 8.49% DURING THE FORECAST PERIOD.

The Global Vitamin D Market Size, Share, And Growth Forecast By:

  • Analog: Vitamin D2 and Vitamin D3
  • Form: Dry and Liquid
  • Application: Pharmaceuticals, Animal Health, Functional Food and Beverages, and Personal Care
  • End User: Humans and Animals
  • Geography:North America, Europe, APAC, Latin America, and the Middle East & Africa

Industry Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share, & Forecast 2022-2027

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322 Pages

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153 Tables

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131 Charts

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5 Regions

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26 Countries

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19 Companies

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5 Market Segment

VITAMIN D MARKET REPORT SCOPE

Report Attribute Details
Market Size (2027) USD 2.68 Billion
Market Size (2021) USD 1.64 Billion
CAGR (2022-2027) 8.49%
Base Year 2021
Forecast Year 2022-2027
Market Segments Analog, Form, Application, End User, and Geography
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
KEY VENDORS BASF SE, Fermenta Biotech Limited, DSM, Dishman Carbogen Amcis, Zhejiang Garden Biochemical High-Tech Co Ltd

The global vitamin D market was valued at USD 1.64 billion in 2021 and is expected to reach USD 2.68 billion by 2027, growing at a CAGR of 8.49% from 2022-2027. The industry is expected to generate incremental revenue of over USD 1 billion during the forecast period due to its application in the nutricosmetics, premixes, functional beverages, and vegan industries. The vitamin D market is highly competitive, with many significant vendors. Clinically proven formulas and scientific research are the major differentiating factors in the market. Over one-third of the global population is considered to have suboptimal levels of micronutrients such as vitamins and minerals. It is estimated that over 1 billion people across the globe suffer from low vitamin D levels primarily due to poor diet and lack of exposure to sunlight. Geographical, cultural, and demographic factors also play a crucial role in determining vitamin D levels.

The vitamin D market is highly characterized by the increasing demand for supplements and functional foods. The COVID-19 outbreak has further accelerated the growth of the vitamin D market. Increasing nutrition requirements, government initiatives, and lucrative investments in the end-user industries are additionally expected to drive market growth.

MARKET TRENDS & OPPORTUNITIES

Emerging Therapeutic Application of Vitamin D
Numerous studies have shown that vitamin D affects many biological processes that control calcium and phosphorus metabolism, cell division, differentiation, apoptosis, immunological control, genome integrity, and neurogenesis. Additionally, recent research has revealed a strong correlation between vitamin D and various illnesses, including cancer, autoimmune, viral, and cardiovascular diseases. There is increasing evidence to support the role of the VD system in cancer prevention and treatment. Many scientific articles report on the role of the VD system in the development, progression, prognosis, and treatment of cancer. Randomized clinical trial data suggest a more significant benefit of vitamin D over cancer mortality and survival than cancer incidence. These data indicate that vitamin D may play a role in reducing advanced or fatal cancers. According to laboratory and animal research, vitamin D may decrease tumors' development and prevent cancer cell growth.

Increasing Demand for Vitamin D Formulation in Personal Care
Dermatologists praise the benefits of the ingredient in topical skincare, and the outcomes are striking. Vitamin D has several anti-oxidative, proliferative, anti-inflammatory, and healing properties. Applying 5,000 IU of vitamin D3 cream is believed to have a therapeutic effect on people with psoriasis. Oil-based vitamin D3 solutions are highly recommended to treat psoriasis. Vitamin D beauty products are also sold OTC and therefore are readily available. Vitamin D3 protects the skin, prevents aging, and normalizes cell turnover. Vendors are also tapping vitamin D3’s potential to encourage beauty and health, which additionally contributes to the vitamin D market growth. It exerts a rejuvenating and protective effect on aging skin. For instance, through products such as VitaD Fortified Topical Elixir and Skin Authority, topical skin care formulations promote the vitamin D market. 

Rising Prevalence of Vitamin D Deficiency Coupled with Consequences of Diseases
One of the most widespread medical conditions worldwide is vitamin D insufficiency. Poor bone growth and health are side effects of vitamin D insufficiency, as is an increased risk of many common and serious illnesses like type 1 diabetes, several types of cancer, and other autoimmune and cardiovascular problems. In the US, Canada, Australia, Europe, New Zealand, and Asia, it has been estimated that between 30 and 50 percent of children and adults suffer from vitamin D deficiency.

While over 1 billion people around the globe are estimated to be vitamin D deficient, over 50% of the population are estimated to have insufficient levels of vitamin D. Several epidemiological research suggest that about 24% of people in the US are vitamin D inadequate. Other regions of the globe may have higher rates of deficiency. About 40% of the population in Europe likely has vitamin D deficiency. In severe cases, vitamin D might increase the risk of osteoporosis, hip fracture, and even rickets. Rickets is more common among children and causes softening of bones, skeletal fractures, and deformity. Depression, bone pain, and weakness are other associated conditions with the disease. Such factors propel the awareness of Vitamin D, thus boosting the Vitamin D Market share globally.

MARKET SEGMENTATION

INSIGHTS BY APPLICATION
In 2021, the pharmaceuticals segment accounted for 48.07% of the global vitamin D market. The pharmaceuticals segment is estimated to be higher because, in 2021, the pharmaceutical industry dominated the global vitamin D market with increasing applications in new segments such as vitamin therapy and beauty supplements. Since vitamin D is a hormone that promotes calcium absorption in the body, it is crucial for most pharmaceutical companies. With an increasing number of deficiencies and medical complications in children and adults, the role of vitamin D in the pharma industry is inevitable. Vitamin D is also considered a growth hormone. They are crucial for bone growth and mineralization in children. Pregnant women continue to drive the need for vitamin D consumption through supplements. Vitamin D deficiency can also cause hypovitaminosis D.

INSIGHTS BY FORM
There are two major forms of vitamin D, namely, dry and liquid. The dry segment reported a major share of around 71.99% in the global vitamin D market. It is estimated to be higher due to its higher stability and extended shelf life. The segment also includes beadlets and crystalline forms used in end-user industries such as pharma, animal feed, and cosmetics. Vitamin D in dry form is highly preferred for cattle feed. For instance, pregnant heifers require up to 1,887 IU/kg of vitamin D daily. Dry forms are also used in supplements owing to their higher potency and effectiveness. The surge in demand for encapsulated forms and premix formulas can enhance the growth of the dry vitamin D market segment during the forecast period. The expansions in the animal feed industry can potentially upscale the market value in countries such as China, the US, and India. Dry forms of vitamin D3 are also common in Sweden, Germany, France, the UK, Spain, and Russia European markets.

INSIGHTS BY ANALOG
Among all analogs, the vitamin D3 segment reported a significant share of around 69.58% in the global vitamin D market. The vitamin D3 segment is estimated to be higher because vitamin D3 is the biologically active form of vitamin D found in the bodies of humans and animals. Vitamin D3 is used in supplements, animal feed, and cosmetics owing to its unique advantages compared to its counterparts in terms of shelf life, activity, and bio-activeness. The demand for vitamin D3 surged following the outbreak of the COVID-19 pandemic. New formulations with vitamin D3 as the vital ingredient are expected to be manufactured during the next five years.

INSIGHTS BY END USER
The human segment under the end-user category accounts for the highest share of around 66.98% in the global vitamin D market. The Vitamin D3 segment is estimated to be higher because Vitamin D supplementation is the most appropriate treatment option for the adult population. Without adequate sun exposure, it is almost impossible to achieve adequate vitamin D levels from dietary sources, and dietary supplements are being used by many specialists as a safe and inexpensive alternative to treat vitamin D deficiency. The Institute of Medicine (IOM) recently issued new dietary guidelines for vitamin D supplementation. According to the report, children over the age of 1 and adults up to 70 are advised to take 600 IU of vitamin D daily, and adults over 70 take 800 IU of vitamin D daily. Several factors may contribute to vitamin D deficiency in the elderly because they spend most of their time indoors, and older people minimize their exposure to natural sunlight. Also, as the skin thins with age, the efficiency of vitamin D synthesis decreases significantly. Decreased appetite and malabsorption of nutrients exacerbate this problem for older people. Vitamin D deficiency during pregnancy is a global problem. Studies show that the prevalence in pregnant women ranges from 18 to 84%. Sufficient calcium and vitamin D intake during pregnancy are required for calcium homeostasis, fetal growth, and bone mineralization.

GEOGRAPHICAL ANALYSIS

Europe accounts for a significant share of around 28.03% of the global Vitamin D Market. This is attributable to the increased usage of nutricosmetics, changing lifestyles, and the rigorous presence of pharmaceutical companies in the region is expected to maintain the growth in the coming years. In 2021, Germany, France, the UK, Spain, and Italy were the major revenue-generating countries in the European region. The region is also home to many industries like pharma, functional food & beverages, animal feed, and personal care, which procure vitamin D for manufacturing drugs, animal feed supplements, dietary supplements, and personal care products. The Netherlands, Switzerland, Denmark, and Belgium are other significant vitamin D markets for growth in the animal feed, cosmetics, and supplement segments. The region is witness to a deficiency of vitamin D in the general population. Europe is one of the best markets for the penetration of vitamin D because more than 70% of the population there is either vitamin D deficient or insufficient.

The growing number of vegans and vegetarians in the region fuels the demand for vegan-enriched foods and dietary supplements. D3 is more stable and durable, making it suitable for dietary supplements. This could pose challenges for pharmaceutical companies in the region, impacting demand for vitamin D products. Also, the COVID-19 pandemic has increased sales of vitamin D supplements in Spain. 

VENDOR LANDSCAPE

The vitamin D market is characterized by many renowned and regional chemical companies like DSM, BASF, Fermenta Biotech, Dishman Carbogen, and Zhejiang Garden Biochemical High-Tech. For leading players such as BASF, vitamin D3 is one of their premium ingredients. It is the most temperature-stable form of the brand as the ingredient can withstand a temperature of 77° Fahrenheit with longer shelf life. The product form can be used in dietary supplements, functional food and beverages, medicinal food, and food fortification. The vitamin D market is also expected to witness the rise of new vendors specializing in the vitamin supplements segment and could be potential targets for vitamin D manufacturers. Constant online engagement is necessary to gain leads, as e-commerce plays a significant role in the wholesale market. Moreover, it also enhances the end-user experience.

Frequently Asked Questions

How big is the vitamin D market?

The global vitamin D market size was valued at USD 1.64 billion in 2021 and is expected to reach USD 2.68 billion by 2027.

What is the growth rate of the global vitamin D market?

The global vitamin D market is growing at a CAGR of 8.49% from 2022-2027.

What are the growing trends in the global vitamin D market?

The emerging therapeutic applications of vitamin D, increasing demand for vitamin D formulation in personal care, increasing trend of vegan vitamin D formulations, and emerging drug delivery technologies for administering vitamin D are growing trends in the global market.

How big is the North American vitamin D market?

The vitamin D market in North America was valued at USD 431.15 million in 2021 and is expected to reach USD 695.80 million by 2027.

Who are the prominent players influencing vitamin D market growth?

BASF SE, Fermenta Biotech Limited, DSM, Dishman Carbogen Amcis, and Zhejiang Garden Biochemical High-Tech Co Ltd are the key players in the vitamin D market.

Which region has the most extensive vitamin D market share globally?

Europe accounted for the largest share, 28.03%, in the global vitamin D market. The European region is expected to pose an absolute growth of 58.08% during the forecast period.

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The vitamin D market is expected to grow at a CAGR of approximately 8.49% from 2022 to 2027.

The following factors are likely to contribute to the growth of the vitamin D market during the forecast period:

  • Rising Prevalence of Vitamin-D Deficiency Coupled with Consequences Of Diseases
  • Increasing Public-Private Collaborations and Demand for Vitamin-D in Food Fortification
  • Rising Demand For Vitamin Supplements
  • Applications in Feed Industry

Base Year: 2021

Forecast Year: 2022-2027

The report considers the present scenario of the vitamin D market and its market dynamics for 2022−2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Key Vendors

  • BASF SE
    • Business Overview
    • Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Fermenta Biotech Limited
  • DSM
  • Dishman Carbogen Amcis
  • Zhejiang Garden Biochemical High-Tech Co Ltd

Other Prominent Vendors

  • Adisseo
    • Business Overview
    • Product Offerings
  • Synthesia
  • Vitablend
  • NewGen Pharma
  • Sichuan Neijiang Huixin Pharmacy
  • HangZhou Think Chemical
  • Lycored
  • Pharmavit
  • Divi’s Nutraceuticals
  • Tocris Bioscience
  • Spectrum Chemical
  • Stabicoat Vitamins
  • Xiamen Kingdomway Group Company
  • Zhejiang NHU

Segmentation by Application

  • Pharmaceuticals
  • Animal Health
  • Functional Food and Beverages
  • Personal Care

Segmentation by Form

  • Dry
  • Liquid

Segmentation by Analog

  • Vitamin D2
  • Vitamin D3

Segmentation by End User

  • Humans
  • Animals

Segmentation by Geography

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • Italy
    • Spain
    • France
    • UK
    • Russia
    • Poland
  • APAC
    • Japan
    • China
    • South Korea
    • India
    • Australia
    • Indonesia
    • Vietnam
    • Thailand
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Columbia
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • South Africa
    • Turkey

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