Mexico Vitamin Market Report and Forecast 2024-2032

Mexico Vitamin Market Size

The Mexico vitamin market reached a value of approximately USD 137.41 million in 2023. The market is projected to grow at a CAGR of 8.6% between 2024 and 2032, reaching a value of around USD 282.13 million by 2032.

Mexico Vitamin Market Outlook

• By 2050, Mexico’s population aged 65 and more is estimated to reach 30 million, a 277% increase from 2015. The rising geriatric population supports the demand for supplements rich in Vitamin D and K to delay bone loss.

• In December 2022, Mexico’s annual household income per capita accounted for USD 3,690.16 compared to USD 2,639.78 in December 2020.

• Mexico is witnessing a surge in the number of nutraceutical startups manufacturing and marketing innovative products. Prominent companies include Evolution Nutraceutical Company, Plenlife, and GIALIVE.

Mexico Vitamin Market Growth Rate

The vitamins market in Mexico is driven by the growing prevalence of chronic diseases, expansion of the middle class, and growth in disposable income. Ageing population often lacks the ability to absorb vital vitamins essential for bone and overall health. As a result, the geriatric population aids the demand for supplements rich in vitamins like D and K to delay bone loss and prevent osteoporosis and osteomalacia.

Figure: Expansion of Aged Population in Mexico (in Million), 2023-2050 (E)

One of the factors driving the market growth is the growth in obesity and diabetes among Mexicans. As of 2022, Mexico is one of the world's top nations in terms of adult and childhood obesity, with almost 75% of its adult population being obese or overweight. The growth in obesity and diabetes among Mexicans has increased consumer spending for personal healthcare products including supplements, vitamins, and nutraceuticals.

Key Trends and Developments

Increasing partnerships, acquisitions and expansion of production facilities are supporting the Mexico Vitamin market growth

April 2024

Glanbia PLC agreed to acquire Flavor Producers LLC from Aroma Holding Co., LLC for USD 300 million upfront, with a potential additional USD 55 million based on 2024 performance. Flavor Producers is based in California and specializes in natural and organic flavors.

February 2024

DSM-Firmenich intends to spin off its animal nutrition and health (ANH) unit from its main operations. The decision comes as the company recognizes distinct market dynamics driving its ANH business, especially amid significant challenges in the vitamins market.

April 2023

Pharmavite LLC commenced construction on a 225,000-square-foot manufacturing plant in New Albany, Ohio. This strategic expansion is set to generate 225 new jobs in the Columbus Region, bolstering the production capabilities of its popular Nature Made® and MegaFood® vitamin and supplement lines.

January 2023

Royal DSM convened a general meeting of shareholders (EGM). At this meeting, shareholders approved the proposed merger with Firmenich International SA and voted in favor of all related resolutions as detailed in the EGM notice.

Growing ageing population in Mexico

By 2050, the Mexican population aged above 60 years is expected to reach around 40 million. Ageing population often lacks the ability to absorb vital vitamins essential for bone and overall health. As a result, the geriatric population drives the demand for different supplements and nutritional products.

Rising pet population aids the demand for animal feed

Mexico is one of the leading animal feed producers globally, with 43.14 MMT of production in 2023. The rising demand for animal -based products aids the consumption of nutrient rich animal feed to enhance livestock productivity.

Growing beauty and personal care market

Vitamin C plays a crucial role by neutralising free radicals and improving the synthesis of collagen. The Mexican consumer spends an average of USD 215 on beauty and personal care products annually.

Increased obesity among the Mexicans

As of 2023, Mexico had the second-highest obesity rate among the Organization for Economic Cooperation and Development (OECD) countries. By 2050, the proportion of obese men and women is expected rise to 54% and 37%, respectively.

Mexico Vitamin Market Trends

Insulin resistance, a major contributing factor to the development of type 2 diabetes, has been connected to vitamin deficiencies. As of 2023, the prevalence of diabetes in Mexico grew by about 10%, and 11 million adults in Mexico are susceptible to acquiring Type 2 diabetes. Additionally, older individuals (60 years of age or older) suffer from vitamin deficiencies due to inadequate dietary intakes. As a result, vitamins and related supplements are required for the elderly population to improve their bone and overall health.

Furthermore, C Vitamins are required in animal feed to improve animal health and productivity. In 2023, Mexico produced around 43,125 thousand tons of animal feed, with the States of Jalisco, Yucatan, and Sonora leading the production. In 2022, the pet population in Mexico accounted for 33.7 million in which 23.4 million were dogs. By 2026, the pet population is anticipated to increase to 39.1 million.

Figure: Major Animal Feed Producing States in Mexico, 2023

Mexico Vitamin Industry Segmentation

“Mexico Vitamin Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Vitamin A

• Vitamin B

• Vitamin C

• Vitamin D

• Vitamin E

• Vitamin K

• Others

Market Breakup by Source

• Synthetic

• Natural

Market Breakup by Source

• Powder

• Oil and Gas

Market Breakup by Application

• Animal Feed

• Health Products

• Food and Beverages

• Personal Care

• Others

Market Breakup by Region

• Central Mexico

• Bajio

• Northern Mexico

• Pacific Coast

• Yucatan Peninsula

• Baja California

Mexico Vitamin Market Share

By type, Vitamin C is expected to hold a significant market share due to its increased application in beauty and personal care products

Vitamin C deficiency, common in pregnant women, heightens risks of cardiovascular disease, cancer, diabetes, and mood disorders. Cardiovascular diseases are growing in Mexico due to rising obesity rates. Furthermore, 38% of school-age children experience hypovitaminosis C, with 23% showing deficiency due to low daily intake. This adds to the  demand for vitamin C based supplements and food products.

Deficiency of vitamin B leads to increased risk of chronic diseases such as diabetes and mental health disorders, among others. The increased demand for vitamin B supplements, especially B6, B12, and folic acid is due to the prevalence of diabetes mellitus, which grew from 14.7% in 2018 to an estimated 18.2% in 2022.

In women aged 20-49, Vitamin D deficiency and insufficiency rates are 31.6% and 46.1%, respectively. Urban residents, higher socioeconomic status, and obesity increase the risk, while moderate physical activity lowers it. Armstrong Laboratories, in August 2023, launched a nutritional supplement in Mexico to improve osteoarticular health where vitamin D is in its active form.

Leading Manufacturers in the Mexico Vitamin Market

Major market players are increasing their collaboration, partnership, and research and development activities to gain a competitive edge in the market

Glanbia PLC

Headquartered in Ireland and founded in 1997, Glanbia PLC comprises Glanbia Performance Nutrition, Glanbia Nutritionals, and strategic cheese joint ventures. The company offers Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, and Vitamin K.

DSM-Firmenich AG

Headquartered in Switzerland and founded in 2023, the company provides a diversified portfolio of vitamins including Vitamin A, Vitamin D, ampli-D®, Metafolin for health, nutrition and care, among several other products.

BASF SE

Headquartered in Germany and founded in 1865, the company provides various nutritional products for customers. Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions make up the company's portfolio, which serves practically every industry.

Bluestar Adisseo Company

Headquartered in France and founded in 1939, it offers vitamin additives in animal nutrition sector which includes fat-soluble and water soluble vitamins. Fat soluble vitamin includes Microvit® A Supra 1000 (Vitamin A, Microvit® D3 Promix 500 (Vitamin D), Microvit® E Promix 50 (Vitamin E), and others.

Other key players in the Mexico vitamin market include Botanic Healthcare Private Limited, Zhejiang NHU Co., Ltd., Vimifos, S.A. de C.V., Fenchem Inc., Farbest-Tallman Foods Corporation, and BTSA BIOTECNOLOGÍAS APLICADAS SL.

Mexico Vitamin Market Analysis by Region

Central Mexico is a prominent region due to the presence of pharmaceutical and nutritional supplement companies

With 37.5% of Mexico's population living in Central Mexico, there is a sizable market for dietary supplements there. Since COFERIS regulations make it simple to obtain supplements without a prescription, pharmacies can offer improved assistance. In order to fulfil the growing need, this environment promotes increasing supplement production in the area and increases consumer knowledge and consumption of vitamins.

The feed production industry in Mexico's Bajío region, accounting for 32% of the Mexico’s production, relies heavily on vitamin premixes. This dependency is expected to fuel substantial growth in the local vitamin market due to the essential role of nutrition in livestock health and productivity, creating a mutually beneficial relationship between feed and vitamin industries.

Key Highlights of the Report