Vitamin A is a fat-soluble unsaturated organic compound often found in natural food products such as carrots, eggs, milk, cheese, and other dairy products. Moreover, it can be synthesized from fish oil, plants, and other bacterial precursors of carotenoids. Major constituents of vitamin A include retinol, beta-carotene, and traces of provitamin A carotenoids.
The global vitamin A market is estimated to surpass US$ 2,933.7 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2020 to 2027).
Increasing adoption of dietary supplements is expected to drive the global vitamin A market. For instance, according to the WHO’s guidelines, infants in the age group of 6-11 months should consume 30 mg of retinol equivalent, while children in the age group of 12-59 months should consume 60 mg of retinol equivalent once every 4-6 months. Moreover, according to the World Health Organization (WHO) factsheet published on April 1, 2020, around 45% of the deaths among children globally below 5 years of age occur due to deficiency of nutrients such as vitamin A, iron or iodine. As the consumption of vitamin A prevents diseases such as night blindness, and diarrhea, its intake is recommended for infants, as well as the elderly population. Thus, several governing organizations have stipulated certain recommendations for dietary intake of vitamin A.
Furthermore, rising demand for anti-ageing skincare creams is expected to drive the market growth of vitamin A. Vitamin A assists the human body in maintaining the good health of the skin, owing to the presence of retinoic acid that activates and converts the immature skin cells and genes into the mature epidermal cells. For instance, isotretinoin (13-cis retinoic acid) is widely used for treatment against acne due to its ability to reduce the secretion and size of sebaceous glands. Moreover, vitamin A has the ability to reduce signs of aging by lowering the number of fine lines and wrinkles.
Among regions, Europe held a dominant position in the global vitamin A market in 2019, accounting for 42.9% market share, in terms of revenue, followed by Asia Pacific and North America.
Figure 1. Global Vitamin A Market Revenue Share (%), By Region, 2019
Rising number of health issues, owing to excessive consumption of vitamin A is hampering the product demand. Vitamin A majorly helps in maintaining a proper immune system, normal vision, and reproduction process. It also supports organs such as the lungs, heart, and kidneys in their effective functioning. However, excessive intake of vitamin A can harm the human body in several ways.
Excessive intake of vitamin A may lead to nausea, dizziness, headaches, and coma. Furthermore, excessive intake of vitamin A supplements can increase toxicity leading to hypervitaminosis A. Moreover, excessive intake of Vitamin A by pregnant women can lead to birth defects. Thus, the WHO recommends that vitamin A supplementation among pregnant women should not be over 10,000 IU per day or 25,000 IU per week.
|Base Year:||2019||Market Size in 2019:||US$ 2,084.4 Mn|
|Historical Data for:||2017 and 2018||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||5.9%||2027 Value Projection:||US$ 2,933.7 Mn|
DSM, BASF SE, Bluestar Adisseo Co. Ltd., Prinova Group LLC, Zhejiang NHU Co. Ltd., Zhejiang Medicine Co., Ltd., Provimi North America, Inc., Kempex Holland BV, and Xiamen Kingdomway Group Co.
|Restraints & Challenges:||
Vitamin A is a fat-soluble and essential micronutrient that boosts the function of the lungs, eyes, and skin in the human and animal body. Its intake prevents growth disorder and helps in skeletal development. Vitamin A acetate is majorly used in the preparation of dry feed for livestock. Palmitate and propionate esters are largely used in the preparation of liquid feeds.
Figure 2. Global Vitamin A Market – Opportunity Analysis
Among source, synthetic segment accounted for the largest revenue share in the global vitamin A market in 2019. The segment accounted for 77.5% share in 2019 and is estimated to reach 78.2% by 2027, exhibiting a CAGR of 6.0% during the forecast period. Synthetic vitamin A is a key ingredient used in the animal feed industry. Furthermore, public interest is shifting towards liquid vitamins in the diet on regular basis to lead a healthy life. Such factors are also driving the synthetic segment growth.
Figure 3. Global Vitamin A Market Revenue Share (%), By Source, 2019
Global Vitamin A Market - Impact of Coronavirus (COVID-19) Pandemic
Deficiency of vitamin A may lead to susceptible infections or illness like night blindness, diarrhea or nausea among individuals. Thus, it is used across food & beverages, animal feed, and pharmaceutical industries for manufacturing dietary supplements, cosmetics, beverages, and other processed foods. However, the spread of COVID-19 globally resulted in measures such as lockdown, and cease in economic activities, which impacted the supply chain of vitamin A market. However, rising awareness about personal health and the need for boosting the immunity to fight against virus is triggering demand for vitamin A supplements and medicines. Thus, several players operating across food, beverages, and pharmaceutical sectors have started leveraging these benefits associated with vitamin A for expanding their product portfolio and global reach. Therefore, the demand for vitamin A has increased significantly even in the pandemic period.
Key players operating in the global vitamin A market include DSM, BASF SE, Bluestar Adisseo Co. Ltd., Prinova Group LLC, Zhejiang NHU Co. Ltd., Zhejiang Medicine Co., Ltd., Provimi North America, Inc., Kempex Holland BV, and Xiamen Kingdomway Group Co.
Vitamin A is a fat-soluble unsaturated organic compound. It is often found in natural food products. It includes carrots, eggs, milk, cheese, and other dairy products. Furthermore, it can be synthesized from plants, fish oil, and other bacterial precursors of carotenoids. Major constituents of vitamin A include beta-carotene, retinol, and traces of provitamin A carotenoids. Vitamin A helps the human body by assisting and maintaining the good health of the skin due to the presence of retinoic acid. This activates and converts the immature skin cells and genes into the mature epidermal cells. In addition, vitamin A has the ability to reduce signs of aging by lowering the number of fine lines and wrinkles.
Consumption of vitamin A helps in preventing diseases such as night blindness, child mortality, and diarrhea. Moreover, the U.S. FDA (Food & Drug Administration) is reviewing these supplements for their effective functioning inside the human body. Moreover, the need for consultation from a nutritionist, healthcare provider, or pharmacist is necessary to know more about the required vitamin A intake.
There has been a constant increase in the number of skin-related issues due to constant exposure to sunlight such as skin rashes and allergies, imbalanced diet, dark spots, and wrinkles due to aging. Moreover, external factors such as an increase in disposable income and rising awareness about personal appearance are driving demand for skincare products and creams.
As a result, key players operating in the cosmetics and personal care market are leveraging this opportunity to develop anti-aging skincare creams. For instance, in November 2020, Unilever launched its new anti-aging product line, which is formulated with vitamin A under the POND’S brand. The products included in this product line are skin tightening serums, lifting and brightening eye creams, and advanced hydrating night creams.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.