VITAMIN D INGREDIENTS MARKET ANALYSIS

The rising cases of vitamin D deficiency and health issues related to it and increasing health awareness among consumers have helped the global vitamin D ingredients market to have a strong and steady growth. Currently, the global vitamin D ingredients market is valued at US$ 2.90 Billion and is expected to register a CAGR of 11.24% allowing it to reach a great market value of US$ 6.8 Billion Up to 2030.

The rising number of occurrences of deficiency of vitamin D diseases such as rickets, which are caused due to lack of exposure to sun and improper eating habits, is likely to be an important growth driver for the vitamin D ingredient market.

Global Vitamin D ingredient Market- Impact of Coronavirus (Covid-19) Pandemic

During the corona virus pandemic, Demand for Vitamin D soared, owing the customer tendency to buy in quantity, Bulk purchases it has been suggested are not just lockdown induced trends they are predicted to continue in 2021 as consumer try to decrease the amount of store trips as a form of social isolation even when shopping for as shopping for supplements goods online, buyers prefer to buy in bulk to get more bangs for their buck on shipping fees.

Global Vitamin D Ingredients Market: Growth Drivers

Fortified beverages or food products with vitamin D supplements

Consumers are looking for Functional Food Product or products that are fortified with additional vitamins and elements that increase the nutritional value and help consumers maintain a healthy diet. It is easy for a consumer to have vegan milk such as coconut milk, soy milk, almond milk, or various dairy product like yogurt or milkshake that has infused vitamin D, which helps efficient absorption of calcium and fulfills daily vitamin D intake.

Food products that are rich in vitamin D are easily available and are inexpensive such as eggs and fish. The abundant availability and low cost of such food products assist the growth of this market.

Figure 1. Global Vitamin D Ingredient Market, Revenue Share (%), By Region, 2022

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Prevalence of Vitamin D Deficiency Ailments:

The increasing cases of ailments such as rickets, which are caused due to vitamin D deficiency and dearth of exposure to sunlight coupled with unhealthy food consumption is estimated to be a primary market driver for vitamin D ingredients. When the thyroid gland generates too much of the hormone thyroxin, you have hyperthyroidism (overactive thyroid). Hyperthyroidism causes your body's metabolism to speed up, resulting in unintended weight loss and a fast or irregular pulse. Hyperthyroidism can be treated in a variety of ways by incorporating vitamin D is one among them. People living in urban cities spend most of their time in office working as compared to their rural counterparts who spend time taking care of their fields or cattle in the sunlight. Residents of urban areas are thus more prone to acquiring deficiency of vitamin D, and thereby being affected by ailments caused due to vitamin D deficiency. This determinant is forecast to shoot the demand up for vitamin D ingredients.

For instance, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) have recognized food fortification as one of the crucial strategies for eradicating pervasive malnourishment, particularly in developing nations. Vitamin D-fortified milk helps lower the incidence of rickets in young children. Thus, the increase in consumption of such products is expected to drive the growth of the global vitamin D market 2030.

Global Vitamin D Ingredients Market: Restraints:

Restraints Imposed By Medical Conditions:

The expansion of the Vitamin D Ingredients Market is restricted by the rising number of cases of a medical ailment linked to excessive vitamin D usage is expected to stifle the market for vitamin D components. If a person takes vitamin D supplements and has other health issues, such as renal illness, liver disease, TB, hyperparathyroidism, sarcoidosis, or histoplasmosis, the person is more prone to develop hypervitaminosis D. Vitamin D toxicity, also known as Hypervitaminosis D, is caused by a high level of vitamin D in the body. Kidney stones, renal damage, kidney failure, excess bone loss, calcification (hardening) of arteries and soft tissues are all long-term consequences of untreated hypervitaminosis D. Hypercalcemia is a rare but serious illness that causes an accumulation of excess calcium in the blood. As a result, excessive vitamin D consumption can lead to serious medical problems. This determinant is thought to stifle the growth of vitamin D ingredients on the market.

Figure 2. Global Vitamin D ingredient Market, Revenue Share (%), By Form, in 2022

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Global Vitamin D ingredient Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic adversely hit many economies globally. Complete lockdowns and movement restrictions were imposed to curb the spread of COVID-19. Many industries have been impacted, including food & beverages, animal feed & pet food, personal care, and supplements.

The outbreak of the COVID-19 pandemic has positively impacted the growth of the vitamin D market. The emergence of the deadly virus resulted in increased consumer awareness of better health and high immunity. As a result, people started buying nutritional products, including vitamin D supplements, in bulk quantities. The demand for vitamin D3 soared due to customers' tendency to buy in quantity because of the lockdown-induced trend. This fueled the launch of numerous products to cater to the rising need, and the manufacturers were encouraging people to buy their products from online platforms to stay safe in their homes.

Global Vitamin D Ingredients Market: Market Segmentation

Regionally, North America dominated the global vitamin D ingredient market in 2022, accounting for around 70% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Global Vitamin D Ingredients Market: By Form 2022

On the basis of form, in 2022, powder vitamin product accounted the largest market share of 60% in terms of value, followed by liquid and resin respectively.

Global Vitamin D Ingredients Market: Recent Developments

• In October 2022, Xtend, a Nutrabolt expanded its product line of hydration & recovery amino acids through the launch of its “Xtend Healthy Hydration Sticks”. It is an on-the-go type electrolyte supplement, which offers zero sugar hydration and is also a major source of vitamin D and B. The sticks are available in three different flavors including strawberry banana, lemon-lime, and raspberry lemonade.
• Furthermore, in April 2022, Abbott, a leading global healthcare product and services provider, announced the launch of Arachitol Gummies in India, which is a type of dietary supplement that helps in maintaining required levels of vitamin D. As of now, the product is launched is orange flavor and are approved by Food Safety and Standards Authority in India. It is a crucial step to fill the nutritional gaps and enhances the health of the human body.
• In January 2019, Zhejiang Xinhecheng Co., Ltd. (China) and DSM (Netherlands) signed a settlement for selling and buying cholesterol. Cholesterol is used to provide nutrition D3. This settlement could assist the organization to grow its universal potential and productiveness of Vitamin D.
• In January 2019, Fermenta Biotech Limited (India) achieved a 99-12 months hire settlement to accumulate land of approximately 40,000-square-meter from the Gujarat Industrial Development Corporation (GIDC) authority Ankleshwar, Sayaka, for destiny expansion. The organization's objective is to begin production with the aid of using the cease of 2020.

Global Vitamin D Ingredients Market: Market Players

Key players operating in the global Vitamin D ingredient market are BASF SE, Dishman Netherlands B.V., Royal DSM N.V., Barr Pharmaceutical, Lycored Limited, Zhejiang Garden Bio-chemical High-tech Company Limited, Fermenta Biotech Ltd, Schiff Nutrition International, Inc. (Reckitt Benckiser), Glaxo Smith Kline, J.R. Carlson Laboratories

*Definition: Vitamin D is a group of fat-soluble vitamins naturally found in foods and can also be used as a dietary supplement. It is also produced when UV light hits the skin. It induces the synthesis of vitamin D. Vitamin D promotes healthy absorption of calcium in the human intestine, maintains optimal levels of serum calcium & phosphate, and provides healthy bone calcification & low calcium blood.