NEWARK, Del , Nov. 16, 2023 (GLOBE NEWSWIRE) -- According to a report, vitamin D ingredient market is expected to generate US$ 1560 million by 2023. Estimates indicate the market is predicted to reach US$ 2,780.3 million between 2023 and 2033, representing a CAGR of 5.9%. Increasing consumer demand for health and wellness prompts cereal manufacturers to improve nutrition content. With pharmaceutical companies increasing their efforts to promote vitamin D products, the global market for vitamin D ingredients is expected to grow shortly.
In recent years, vitamin D has been popularized as an immune-boosting supplement for protection against COVID-19. According to a November study in Nature's Scientific Reports, researchers found that taking vitamin D3 or D2 supplements reduced infection risk by 20% to 28% and death risk by 33% and 25%, respectively.
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A report by the United States Bone and Joint Health Initiative states that one in two Americans suffer from musculoskeletal disorders each year, which results in an estimated USD 213 billion in lost income due to treatment costs and lost work time. Approximately 126.6 million American adults (one in two) suffer from musculoskeletal conditions, the same percentage as those living with chronic lung and heart diseases.
Key Takeaways from the Market Study
- Vitamin D Ingredients are expected to increase by 6% CAGR between 2022 and 2032.
- By 2032, Vitamin D Ingredients are expected to be worth US$ 2686.3 million.
- With 14.1% of the market share in 2022, the United States dominated the Vitamin D Ingredients market.
- China's growth over the past few years has been strong, contributing to a CAGR of 4.4% in 2022.
- Estimates indicate that the Japanese market accounted for 7% of the global market in 2022.
- The German market for Vitamin D Ingredients accounted for 3.4% of the global market share in 2022.
- The United Kingdom is represented 4.8% of Vitamin D Ingredients sales by 2022.
- According to the market report, Vitamin D Ingredients accounted for 2.4% of the market between 2018 and 2022.
“The increasing prevalence of chronic health conditions in pregnant women and the deficiency of vitamin D in pregnant women are expected to fuel the market for vitamin D ingredients in the market. As awareness of fortified beverages increases and chewable gummies become more popular, demand for vitamin D ingredients is expected to increase,” -says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
Competitive Landscape
Vitamin D Ingredients businesses are expanding through partnerships and collaborations. Research and development, new product development, geographic expansion, and partnerships are key strategies that vitamin D Ingredients market players use to increase their customer base.
- In May 2023, Koios, a leading producer of better-for-you beverages, launched a new, innovative line of gummies. Gummy products infused with essential vitamins are made with clean, natural ingredients, aligning with the Company's commitment to promoting health and wellness. Efforts have been made to meet this new product's high quality and taste standards.
- In March 2023, Akums Drugs and Pharmaceutical Limited will introduce a series of nutraceutical gummies for health and wellness. In addition to the above products, there is also a line of multivitamins and immunity treatments for adults, in addition to kids multivitamins and sleep support, immunity therapies, hair care (Biotin), vitamin D, UTI gummies, gut health, and many others.
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Know More about What the Vitamin D Ingredients Market Report Covers
Future Market Insights offers an unbiased analysis of the global vitamin D ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the Vitamin D Ingredients market, the market is segmented based on product type, source, application, and industry type across six major regions.
About Food & Beverage at Future Market Insights
The food & beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Key Companies Profiles
- Koninkljike DSM N.V
- Zhejiang Xinhecheng Co Ltd
- BASF Se
- Fermenta Biotech Ltd
- PHW Group
- Synthesia
- Bio-Tech Pharmacal
- McKinley Resources Inc
- Taizhou Hisound Pharmaceutical Co Ltd
- Stabicoat Vitamins
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Market Segmentation of Vitamin D Ingredients
By Product Type:
- Vitamin D2
- Vitamin D3
By Source:
- Eggs
- Milk
- Fish
- Fruits, Plant, and Vegetables
- Animals
- Others (Fungi, Microalgae, Yeast, Plants, etc.)
By Application:
- Beverages
- Food
- Cosmetics
- Pharmaceuticals
- Pet Food & Animal Feed
- Others
By Form:
- Resin
- Powder
- Liquid
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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