Vitamin a market

Vitamin A Market, by Source (Natural and Synthetic), by Product Type (Food Grade, Feed Grade, and Pharmaceutical Grade), by Form (Powder and Liquid), by Application (Food & Beverages, Dietary Supplements, Clinical Nutrition, Animal Feed, and Personal Care & Cosmetics), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Nov 2022
CMI4451
170 Pages
Excel & Pdf
Food and Beverages

Summary

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 pro vitamin A carotenoids.

Global Vitamin A Market was valued at US$ 19560.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.71% during the forecast period (2022 to 2030).

Drivers

Increasing adoption of dietary supplements is expected to drive growth of 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 2021, accounting for 42.9% market share, in terms of revenue, followed by Asia Pacific and North America.

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.

Figure 1. Global Vitamin A Market Value Share (%), By Region, 2021

Market Restraints

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.

Vitamin A Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 19560.00 Mn
Historical Data for:	2017-2020	Estimated Year:	2022
Forecast Period 2022 to 2030 CAGR:	5.71%	Forecast Period:	2022-2030
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, ASEAN, Australia, and Rest of Asia Pacific Middle East & Africa: Middle East & Africa
Segments covered:	By Source: Natural and Synthetic By Product Type: Food Grade, Feed Grade, and Pharmaceutical Grade By Form: Powder and Liquid By Application: Food & Beverages, Dietary Supplements, Clinical Nutrition, Animal Feed, and Personal Care & Cosmetics
Companies covered:	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
Growth Drivers:	Increasing adoption of dietary supplements Rising demand for anti-ageing skincare creams
Restraints & Challenges:	Rising number of health issues, owing to excessive consumption of vitamin A

Market Trends

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 Value Share (%), By Source, 2021

Recent Developments

In February 2020, DSM, a leading company, decided to invest in a high-tech, fully automated packing line for vitamin A production, which will be used to provide customers with improved traceability, reliability, and quality.
DSM announced in October 2019 that it would produce vitamin A in two locations: Xinghuo, China, and Grenzach, Germany.
In August 2019, GlaxoSmithKline plc. completed the transaction for a joint venture with Pfizer Inc., a U.S.-based pharmaceutical and nutraceutical company. The joint venture combined the nutrition brands of both companies, including Sensodyne, Panadol, and Voltaren from GSK and Centrum, Advil, and Caltrate from Pfizer.A joint venture has been formed in order to build a world-leading consumer healthcare business with stronger sales, improved cash flow, and a larger income contribution. Some prominent players in the global vitamin supplements market

Competitive Section

Major 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.

Table of Content

Table of Contents

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What was the global vitamin a market size in 2021?

Global vitamin A market was valued at around US$ 19560.00 Million in 2021.

What are the major factors that are expected to drive growth of the market during the forecast period?

Increasing adoption of dietary supplements is expected to drive the market growth during the forecast period.

What are the trends in the market?

Development of nutritional processed food for livestock is the current market trend of target market.

What are the key factors hampering growth of the market?

Rising number of health issues like dizziness, nausea, headaches, owing to excessive consumption of vitamin A act as a restraining factor for the market growth.

Which are the key players in the market?

Major players operating in the 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.

What is the estimated CAGR for the market?

The market is estimated to grow at around 5.71% CAGR in the forecast period (2022-2030).