SEATTLE, June 09, 2021 (GLOBE NEWSWIRE) -- The global vitamin A market was valued at US$ 2,084.4 million in 2019, and is expected to exhibit a CAGR of 5.9% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Vitamin A Market:
In the past few years, there has been a significant demand for vitamin A for the preparation of animal feed. Thus, several key players operating across the Vitamin A market have started expanding and showcasing their product portfolio for catering to this demand. For instance, BASF Animal Nutrition showcased its essential nutrients product portfolio at IPPE (International Production & Processing Expo) held at Atlanta, U.S., in January 2015. The feedstock manufacturers have started adopting the latest technologies such as the beadlet, which mixes two different proteins with varied proportions, especially used for the production of combination products. For instance, 100,000 IU of vitamin D3 per gram is mixed with 500,000 IU of vitamin A for the manufacturing of feedstock. Moreover, liquid vitamin concentrates are offered by the feedstock manufacturers for its usage in manufacturing liquid feed for live stocks.
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Key Market Takeaways:
Among product type, the feed grade segment accounted for the largest revenue share in the global vitamin A market in 2019. The segment accounted for 79.2% share in 2019 and is estimated to reach 78.6% by 2027, exhibiting a CAGR of 5.7% during the forecast period.
Among other segments of product type, the pharmaceutical grade segment in the global vitamin A market was valued at US$ 217.7 Mn in 2019 and is expected to reach US$ 328.2 Mn by 2027 at a CAGR of 6.6% during the forecast period. Modern lifestyle of consumers have lead to suboptimal vitamin intakes, even in affluent countries such as Germany, the U.K., The Netherlands, the U.S., and others. However, the food grade segment generated a revenue of US$ 216.0 Mn in terms of value in 2019 and is expected to generate a revenue of US$ 319.1 Mn by 2027, exhibiting a CAGR of 6.4%. Increasing cases of low vision among people globally and rising health awareness for vital organs such as heart, lungs, kidneys, and others have boosted the demand for nutritional supplements in the recent years.
The powder segment of form generated a revenue of US$ 1,451.5 Mn in terms of value in 2019 and is expected to generate a revenue of US$ 2,051.4 Mn by 2027, exhibiting a CAGR of 5.9%. Liquid segment is dominant in the vitamins A market, owing to the fact that it is easy to store and transport. Furthermore, consumer’s consumption of Vitamin A in powder form is higher since the shelf life of powder form is more as compared to the liquid form which in turn is expected to foster the market growth during the forecast period.
Competitive Landscape:
Major players operating in the global vitamin A market include DSM, BASF SE, Bluestar Adisseo Co. Ltd., Prinova Group LLC, Zhejiang NHU Co. Ltd., Zhejiang Medicine Co., Ltd., Provimi North America, Inc., Kempex Holland BV, and Xiamen Kingdomway Group Co.
Key players are focusing on strategic plant expansions to gain a stronger customer base. For instance, in October 2019, DSM Company invested around US$ 62 million in its manufacturing facility, in Lalden, Switzerland, for increasing the production vitamin A intermediates.
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Market Segmentation:
- Global Vitamin A Market, By Source:
- Natural
- Synthetic
- Global Vitamin A Market, By Product Type:
- Food Grade
- Feed Grade
- Pharmaceutical Grade
- Global Vitamin A Market, By Form:
- Powder
- Liquid
- Global Vitamin A Market, By Application:
- Food & Beverages
- Dietary Supplements
- Clinical Nutrition
- Animal Feed
- Personal Care & Cosmetics
- Global Vitamin A Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Italy
- France
- Germany
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East
- Africa
- North America
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