Global Vitamin Ingredients Market Report and Forecast 2024-2032

Global Vitamin Ingredients Market Outlook

The global vitamin ingredients market size reached approximately USD 4.61 billion in 2023. The market is projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching a value of around USD 7.47 billion by 2032.

Key Trends in the Market

Vitamin ingredients refer to the individual compounds or substances that constitute essential vitamins. Vitamins are organic compounds required in small quantities by the body to support various physiological functions and maintain overall health. They play crucial roles in processes like metabolism, growth, immunity, and energy production.

• The global vitamin ingredients market growth can be attributed to a significant shift towards the adoption of healthier lifestyles by consumers amid growing health issues. Consumers are now more conscious of their dietary choices and are actively seeking products that offer added health benefits. Vitamins, being essential nutrients required by the body for proper functioning, have gained prominence in the wellness and nutritional supplement sectors.

• The global vitamin ingredients market demand is being fuelled by the growing geriatric population. The ageing population requires higher vitamin intake to maintain its health and prevent age-related deficiencies and diseases, creating a substantial demand for vitamin supplements. Moreover, the growing focus on boosting cognitive health, bone health, and the immune system is further aiding the market.

• Another significant vitamin ingredients market trend is the surge in the popularity of e-commerce platforms. It has significantly impacted the distribution of healthcare and wellness products. Consumers now have access to a wide variety of supplements from different manufacturers and brands, regardless of their geographic location.

Market Analysis

Based on source, the market is segmented into natural and synthetic. The global vitamin ingredients market segmentation, on the basis of type, includes vitamin A, vitamin B, vitamin C, vitamin D, vitamin E, and vitamin K. The market, based on form, includes tablets and capsules, and powder, among others.

The market, based on application, can be divided into pharmaceuticals, food and beverages, personal care products, and animal feed, among others. The major regional markets for vitamin ingredients are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global vitamin ingredients market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Koninklijke DSM N.V.

• Pfizer Inc. 

• Abbott Laboratories 

• BASF SE 

• Btsa Biotecnologías Aplicadas S.L. 

• Farbest-Tallman Foods Corporation 

• Glanbia Plc 

• Nestlé S.A. 

• Amway Corporation 

• Lonza Ltd

• Bluebonnet Nutrition Corporation

• Others

Market Share by Application

Animal feeds are likely to cover a majority portion of the global vitamin ingredients market share in the coming years. Vitamins play a vital role in the diet of cattle as essential dietary supplements and support overall their health, growth, and immunity, leading to increased productivity. In the case of cattle, the incorporation of vitamin supplements can enhance milk production and improve the quality of milk constituents.

In addition, the demand for poultry feed additives, including vitamins, is significantly rising due to surging consumer preferences for specific meat and yolk colours, along with growing concerns for the well-being of animals.

Market Share by Region

According to the global vitamin ingredients market analysis, North America is expected to represent a significant market share in the forecast period. The growth of the market in the US and Canada can be attributed to increased consumer awareness regarding the benefits of incorporating vitamin supplements into diets. This demand for such supplements is further augmented by the busy lifestyles and rising income levels in the region. Additionally, key suppliers in the area are adopting strategies and collaborating with prominent online retailers like Walmart and Amazon to enhance product sales.

Competitive Landscape

Koninklijke DSM N.V., commonly known as DSM, is a global science-based company headquartered in the Netherlands. The company was originally founded in 1902 as a state-owned coal mining company but has evolved over the years into a global leader in nutrition, health, and sustainable living solutions.

Pfizer Inc. is a multinational pharmaceutical company based in the United States. It is one of the world's largest pharmaceutical companies and has a significant impact on the global healthcare sector. The company has an extensive focus on the research, manufacturing, and marketing of a wide range of pharmaceutical products.

Abbott Laboratories, commonly known as Abbott, is an American multinational healthcare company with a diverse portfolio of medical devices, pharmaceuticals, diagnostics, and nutrition products. The company was founded in the year 1888 and is currently headquartered in Illinois, the United States.

Other vitamin ingredients market players include BASF SE, Btsa Biotecnologías Aplicadas S.L., Farbest-Tallman Foods Corporation, Glanbia Plc, Nestlé S.A., Amway Corporation, Lonza Ltd, and Bluebonnet Nutrition Corporation, among others.

Key Highlights of the Report