The global vitamin A market was valued at US$ 2,084.4 Million in 2019, according to Vitamin A Market Report, 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), published by Coherent Market Insights.
The global vitamin A market is expected to surpass US$ 2,933.7 million by 2027, exhibiting a CAGR of 5.9% during the forecast period (2020-2027). The growth of the vitamin A market is expected to be driven by strategies adopted by target market key players. Several manufacturers of dietary supplements are leveraging the benefits associated with consumption of vitamin A to expand their product portfolio and global reach. Moreover, the U.S. FDA (Food & Drug Administration) is reviewing these supplements for their effective functioning inside the human body. Also, the need for consultation from a nutritionist, healthcare provider, or pharmacist is necessary to know more about the required vitamin A intake
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Browse 50 market data tables* and 45 figures* on "Vitamin A Market” - Global Forecast to 2027.
Key Trends and Analysis of the Vitamin A Market:
- Development of nutritional processed food for livestock. 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. Among regions, Europe accounted for a significant market share in 2019.
Key Takeaways of the Market:
- Among form, powder segment held largest revenue share of 69.6% in the global vitamin A market, in 2019, owing to the fact that it is easy to store and transport. Furthermore, consumer’s consumption of Vitamin A in powder form is higher since the shelf life of powder form is more, as compared to the liquid form, which in turn is expected to foster the segment growth during the forecast period.
- 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.
- Key players operating in the vitamin A market are focusing on various strategies such as business expansions, in order to strengthen their market presence and expand their product portfolio. For instance, in August 2019, Prinova Group LLC expanded into Asia Pacific with its new subsidiary in Australia, which will serve customers in Australia and New Zealand (ANZ). The company’s strategy is to expand into ANZ region, owing to rising demand for health supplements, dairy and sport nutrition.
Global Vitamin A Market - Impact of Coronavirus (COVID-19) Pandemic
- Food is an essential commodity and the demand for food ingredients such as vitamin A is expected to rise during the pandemic and post pandemic conditions, worldwide. Moreover, Coronavirus (COVID-19) has majorly impacted the food & beverages industry and in turn has changed the dynamics of entire ecosystem including raw material suppliers. Lockdown in various countries such as India, China, and Spain, among others and cease in the subsequent trade activities suspended the supply chain activities. The increasing spread of COVID-19 has forced the manufacturers to deploy precautionary measures in their facilities including labors and plant controllers screening and monitoring, and sanitizing the facilities..