Vitamins And Derivatives Consumption Is Expected To Increase At A CAGR Of Around 5.7% During The Period Of 2021-2031

Vitamins and derivatives help provide skin protection, lightening, hair protection, and also enhance the nutritional value in food products. These key factors are driving the use of vitamins and derivatives in the personal care and food & beverage sectors. Vitamins and derivatives are also used in the animal feed industry. Vitamin C and E derivatives are mostly used in animal feed as a source of antioxidants.

Vitamin B is widely used in beverages as it gives instant energy. Over 10% of vitamin B is present in energy drinks. Manufacturers are also making healthier snack items that are rich in vitamins that give instant energy.

According to a revised report by Fact.MR, a market research and competitive intelligence provider, the global vitamins and derivatives market is estimated to account for over US$ 24 Bn in 2021, and expand at a CAGR of around 5.7% through 2031.

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Key Takeaways from Market Study

• The United States is expected to account for nearly 94% of the North American market in 2021, owing to increased consumer demand for vitamins and derivatives.
• According to Fact.MR’s analysis, Brazil is estimated to hold nearly 39% of the Latin America market share in 2021, aided by the ease with which raw materials can be obtained.
• The United Kingdom is one of the potential markets for vitamins and derivatives in Europe, accounting for more than 17% value share, owing to surge in demand from the nutraceuticals industry.
• Tablets of vitamins and derivatives will hold 17.4% of the market in 2021 on the back of easy availability and solubility.
• Vitamin B reflects 25.7% of the market in 2021 owing to superior nutritious benefits in food & beverages.

“With growing demand for vitamins and derivatives, key players are focusing on providing products that are high in vitamins that the human body requires. Numerous brands are clearly labelling the percentage of vitamins present on their product labels,” says a lead analyst at Fact.MR.

How Large is the Opportunity for Sales of Vitamins and Derivatives in South Asia?

Total consumption of vitamins & derivatives in South Asia is anticipated to be around 21,056.95 Mn tons in 2021, rising at a CAGR of 8.5% during the forecasted period. Rising demand from the region can be attributed to increased usage in industries such as food & beverages, pharmaceuticals, and cosmetics.

Additionally, demand for pharmaceuticals in South Asia is growing at an elevated phase. Demand for vitamin D derivatives for the elderly population to enhance calcium absorption in the bodies, vitamin A derivative for children to build a strong immune system, and feed grade vitamins and derivatives by farmers is increasing for overall health management in both, humans and animals.

Moreover, adoption of feed grade vitamin D3 derivatives and others has taken an upsurge in the region as packaged food consumption that is rich in vitamins has grown in the region.

Owing to the above-mentioned benefits of vitamin A derivatives, vitamin A derivative manufacturers in South Asia are projected to hold 21.4% market share by 2031.

Category-wise Insights

Which Product Type of Vitamins and Derivative is Highly Sought-after?

There are eight forms of vitamin B available. Vitamin B derivatives are being highly demanded globally due to their wide range of applications in food & beverages and cosmetics. Vitamin B is used in food & beverages as it provides instant energy when consumed. Vitamin B is also used in pharmaceuticals for its therapeutic properties for diseases such as beriberi.

Attributed to the above-mentioned factors, the vitamin B derivatives market is projected to rise at a CAGR of around 3.4% reaching US$ 8.7 Bn by 2031.

Additionally, the vitamin A derivatives market, vitamin C derivatives market, and vitamin D derivatives market is projected to surge at CAGRs of 7.3%, 8.3%, and 4.1%, respectively. High demand for vitamin C derivatives in dermatology and natural vitamin C supplements is a prominent factor promoting overall market growth.

Furthermore, the vitamin A derivatives market size is in its growth phase and is expected to account for US$ 3.1 Bn by 2031, while demand for vitamin C derivatives in dermatology is also expected to boost the overall vitamins market.

Pharmaceutical grade vitamin B3 derivatives and (niacin) vitamin B3 and derivatives are among the vitamin B derivatives catering to high growth because of their use in cholesterol treatment and promoting a healthy nervous system and digestive system.

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Competition Landscape:

To expand their consumer base, vitamin and derivative manufacturers are opting for a mix of organic and inorganic growth strategies such as capacity expansion, acquisitions, and collaborations to help them garner more market share that would provide them with the desired competitive advantage.

Fact.MR has provided detailed information about the price points of vitamins and derivatives of manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion in the recently published report.

• Amway enters into a strategic partnership with ITC Limited to expand its immunity distribution network of immunity-boosting products.
• The latest acquisition of DSM is Midori Health in July 2021. To improve nutrition utilization from animal feed and improve animal health.

Similar, recent developments related to companies offering vitamins and derivatives, details on vitamin & derivative manufacturing consumption, and vitamin and derivative distributors and have been tracked by the team at Fact.MR, which are available in the full report.

Market Segments Covered in Vitamins and Derivatives Industry Research

·         By Product Type

• • Vitamin B
  • Vitamin D
  • Vitamin E
  • Vitamin C
  • Vitamin A
  • Other Product Types

·         By Target Group

• • Vitamins and Derivatives for Adult Women
  • Vitamins and Derivatives for Adult Men
  • Vitamins and Derivatives for Elders
  • Vitamins and Derivatives for Children

·         By End-use Industry

• • Dietary Supplements
  • Food & Beverages
  • Pharmaceuticals
  • Personal Care
  • Other End-use Industries

·         By Form

• • Vitamin and Derivative Tablets
  • Vitamin and Derivative Capsules
  • Vitamin and Derivative Powder
  • Vitamin and Derivative Oral Liquids
  • Vitamin and Derivative Gummies and Soft Gels
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