Growth Strategies Adopted by Major Players in Vitamin D market

The report “Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), IU Strength and Region – Global Forecast to 2025″,The vitamin D market is estimated to account for about USD 1.1 billion in 2020 and is projected to reach a value of nearly USD 1.6 billion by 2025, growing at a CAGR of 7.0% from 2020 to 2025. The vitamin D market has been growing in accordance with the rise in demand and consumption of feed around the world.

The feed industry is witnessing an upward trend in demand for enriched feed products, which supports the demand for nutritional additives such as vitamin D. The key driving factors of the vitamin D market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused by vitamin D deficiency. Food fortification is one of the major trends, which is fueling the vitamin D market in the functional food & beverage industry.

Vitamin D plays an important role in maintaining healthy bones and the regulation of immune systems; it is also associated with the prevention of heart disease, cancer, diabetes, and multiple sclerosis. The body requires sufficient vitamin D from a healthy diet and exposure to the sun. The major role of vitamin D is maintaining normal levels of calcium and phosphorus in the blood. It helps the body to absorb calcium, which forms and maintains strong bones. It also protects the body against osteoporosis, osteomalacia, rickets, and cancer. Vitamin D is found in food products such as fish, eggs, fortified milk, and cod liver oil.

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The key players in the vitamin D market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), Koninklijke DSM N.V. (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India). The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements, in the last few years, to meet the growing demand for vitamin D.

Major players in the market are mainly focusing on undertaking expansions for innovating and developing research centers to meet the growing requirements of the consumers. The core strengths of the key players identified in this market are growth strategies such as new product launches and acquisitions. The undertaking of new product launches and expansions has enabled the market players to enhance their presence in the vitamin D market. The key players, such as Koninklijke DSM N.V. (Netherlands) undertook these strategies to improve their distribution network, gain a stronger foothold, and enhance market share. For example, DSM expanded its operations in the Indian market, with the opening of its second animal nutrition & health premix plant. The expansion would help the company to increase its reach in the Asia Pacific market.

Fermenta Biotech Ltd.  (India), is focusing on expansion and new product developments to enhance its foothold in the market. For example, in January 2019, Fermenta Biotech Ltd executed a 99-year lease agreement to acquire a land of about 40,000-square-meter from the Gujarat Industrial Development Corporation (GIDC) authority, Ankleshwar, Sayakha, for future expansion.  The company aims to commence manufacturing by the end of 2020.

Koninklijke DSM N.V. (Netherlands) is one of the leading companies involved in the manufacture of nutritional & pharmaceutical ingredients, biomedical materials, thermoplastics, resins, and industrial chemicals. The products find application in various sectors, such as food & beverage, personal care, medical, textiles, pharmaceutical, feed, dietary supplements, electrics, automotive, paint, and construction. The company operates through three business segments, namely, nutrition, performance materials, and innovation. It offers vitamin products under its nutrition division. The nutrition division comprises DSM Food Specialties and DSM Nutritional Products; DSM Nutritional Products offers vitamins for the feed, food, as well as the pharmaceutical industry. In January 2019, Zhejiang Xinhecheng Co., Ltd. (China) and DSM signed an agreement for the sale and purchase of cholesterol. Cholesterol is used to produce vitamin D3. This agreement would help the company to increase its overall capacity and productivity of Vitamin D.

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In October 2018, DSM expanded its operations in the Indian market, with the opening of its second Animal Nutrition & Health premix plant. The expansion would help the company increase its reach in the Asia Pacific market. In March 2015, DSM started a new nutrition innovation center for the Asia Pacific region in Singapore. This innovation center would help DSM in expanding its presence in Singapore.

Zhejiang Xinhecheng Co., Ltd. (China) is a chemical and ingredient manufacturing company. The company mainly deals with ingredients used in animal and human nutrition. Zhejiang Xinhecheng Co. Ltd. is involved in businesses such as nutrition, flavor & fragrance, APIs, and polymers, providing solutions to animal & human nutrition, medicine, health, environmental protection, and engineering plastics. With three production sites in China, the company exports its product to various international markets such as Europe, South America, North America, China, Asia Pacific, and the Middle East.