Rising demand for vitamin D3, high usage of vitamin D in pet food and animal feed, rising inclination for personal care products, and increasing prevalence of vitamin D among pregnant women, neonates, children, and adults are key factors boosting market growth
The global vitamin D market is expected to reach USD 1888.5 Million in 2028 and register a steady revenue CAGR of 5.40% over the forecast period, according to latest report published by Reports and Data. Key factors such as increasing preference for dietary supplements, increasing awareness about vitamin-D deficiency, increasing concerns about weakening of bones and cartilages, and increasing global elderly population are factors driving global market revenue growth.
Vitamin D is a group of fat soluble secosteroids that help in regulating calcium and phosphorus, and play a crucial role in bone development and maintaining normal immune system. Vitamin D is also called calciferol and sunshine vitamin as it is produced by the body in response to sunlight. Salmon, herring, egg yolk, fortified food, and fat spreads are some of the sources of calciferol. However, lack of exposure to sun, and low intake of vitamin D in diet often leads to vitamin D deficiency. Demand for vitamin supplements is increasing due to rising public awareness, rising preference for nutricosmetics and functional beverages, and increasing investments in research & development activities to develop vegan products and more enhanced calciferol supplements. Factors such as favorable government initiatives, increasing preference for fortified foods, and rising demand for vitamin formulation and nutricosmetics are boosting global market revenue growth. In addition, rapidly growing animal feed and pharmaceutical sectors, and high usage of vitamin D3 in food & beverage industry are other factors expected to boost market revenue growth over the forecast period.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Koninklijke DSM N.V,7. Zhejiang Garden Biochemical High-Tech Co Ltd., Fermenta Biotech Ltd., BASF SE, Dishman Group, Taizhou Haisheng Pharmaceutical Co Ltd., Zhejiang Medicine Co Ltd., PHW Group, Pharmavit, Tocris Bioscience, Lycored, Stabicoat Vitamins, and Spectrum Chemical MFG Corp
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Vitamin D market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
Some key highlights of the report:
- Based on application, the feed and pet food segment is expected to register highest revenue CAGR during the forecast period, owing to rapid advancements in the pet food and animal feed industry, rising funds from public and private sectors, and high use of calciferol in animal feed and pet food.
- Based on end use, the adults segment accounted for significantly large revenue share in 2020, due to factors such as increasing awareness about various bone-related problems, increasing global elderly population, and increasing demand for dietary supplements and personal care products.
- Among the form type, the dry segment is expected to account for largest revenue share between 2021 and 2028. The dry form is more stable, easy to handle, and store as compared to liquid form. Moreover, it has a greater shelf life and is available in a wide range of products.
- North America market is expected to account for largest revenue share in the global market between 2021 and 2028. This can be attributed to rising prevalence of rickets in infants and children, rising preference for dietary supplements, and availability of wide range of vitamin D products. In addition, increasing awareness about vitamin D deficiency, rising product approvals, and increasing investments in research & development activities are factors supporting revenue growth of the market in North America.
- Asia Pacific market is expected to register highest revenue CAGR over the forecast period, owing to inclining number vitamin D deficiency cases, increasing public awareness, rising demand for fortified products and dietary supplements, constant focus on R&D activities, and rising disposable income.
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Type Outlook (Revenue, USD Million; 2018–2028)
- Vitamin D3
- Vitamin D2
Test Outlook (Revenue, USD Million; 2018–2028)
- 25 Hydroxy
- 1, 25 Dihydroxy
Form Outlook (Revenue, USD Million; 2018–2028)
- Dry
- Liquid
Application Outlook (Revenue, USD Million; 2018–2028)
- Feed & Pet Food
- Animal Feed
- Pet Food
- Food & Beverages
- Personal Care
- Pharmaceutical
- Other
End Use Outlook (Revenue, USD Million; 2018–2028)
- Children
- Adults
- Pregnant Women
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