The global vitamin ingredients market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factor that is expected to boost the market growth includes the rise in application of vitamins in the food & beverage, beauty & personal care, dietary supplements, and pharma industries. In addition, deficiency of vitamins due to increase in consumption of junk food, changes in food habits, chronic malnutrition in under-developed countries, and increase in consumer awareness toward health benefits of vitamin consumption are some other factors that are accelerating the growth of the market. Vitamins are natural compounds found in food items such as fruit & vegetables and eggs. Vitamins support in basic development of essential nutrients and increase the metabolism of body. In addition, they support in the production of skin, muscle, bones, repair cells, & tissues and strengthening the immune system. Vitamins are of two types, water-soluble, which the body does not store and needs supply daily and fat-soluble, which are absorbed by the body and are stored for future use.
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Furthermore, there has been an increase in demand for vitamin A by the healthcare industry, due to rise in cases of ophthalmic illness in children, surge in aging population, and increase in awareness toward eye care, which in turn, is augmenting the market growth. Vitamin A supports in facilitating adequate growth & development of eye tissue; lowers the risk of cataract, night blindness, and myopia; and supports in reducing the risk of cancer. Vitamin B is used in animal fodder to maintain the normal health in animals and supports in maintaining the nutrients deficiency in the body. Moreover, livestock such as sheep, cow, and goats require vitamin B12, which increases the energy and supports in faster metabolism process. Cobalt deficiency due to lack of vitamin B12 reduces the appetite of animals and results in scaly ears.
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Market Coverage
- Segment Covered-
o By Type
o By Form
o By Application
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Amway Corp., BASF SE, and Lonza Group AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Vitamin Ingredients Market Report by Segment
By Type
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Vitamin K
By Form
- Solid
- Liquid
- Powder
By Application
- Cosmetics
- Animal Feed
- Pharmaceuticals
- Processed and Packaged Food and Beverages
- Others
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