Vancouver, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global vitamin A market size was USD 540.2 Million in 2022 and is expected to register a rapid revenue CAGR of 5.0% during the forecast period. Increasing consumer spending on skin care products and concerns for livestock health & food safety, rapid growth of the dietary supplement industry and rising demand for nutritional and functionally enriched processed foods are key factors driving market revenue growth, Vitamin A, also known as retinol, is a fat-soluble vitamin used for ophthalmic disorders such as cataract, myopia, hypermetropia, presbyopia, night blindness, and retinitis pigmentosa. Vitamin A has several therapeutical applications such as anti-oxidants, strengthens the immune system, reduces risk of cancer, and helps with bone formation.
The consumption of unhealthy foods has led to rising number of people experiencing micronutrient deficiencies, which can result in health issues such as night blindness and corneal ulcers.
According to the World Health Organization (WHO), there are over 2.2 billion individuals globally with near or distance vision impairment, emphasizing the importance of addressing these nutritional deficiencies. Furthermore, increasing awareness about adverse health consequences associated with fast food consumption has generated a greater demand for processed foods that are fortified with essential nutrients.
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However, stringent government regulations, vitamin A toxicity, and side effects related to interaction of vitamin A supplements and drugs are key factors, which could restrain market revenue growth. Toxicity due to Vitamin A can result from its topical or oral forms, each with distinct side effects. Oral vitamin A toxicity is categorized as either acute, occurring from rapid ingestion, or chronic, resulting from prolonged intake. Topical retinoid primarily cause skin irritation, including redness and peeling, while systemic retinoid can lead to teratogenic effects. In the U.S., over 60,000 cases of vitamin toxicity are reported annually.
Segment Insights
Source Insights:
On the basis of source, the global vitamin A market is segmented into natural and synthetic. The natural segment accounted for largest revenue share in the global vitamin A market in 2022 attributed to increasing preference for naturally sourced and plant-based products. The natural vitamin A market encompasses functional Foods & Beverages (F&B), dietary supplements, animal feed, pharmaceuticals, and cosmetic and personal care products. In addition, rising awareness about health hazards associated with fast-food consumption is another factor driving revenue growth of this segment.
Application Insights:
On the basis of application, the global vitamin A is segmented into F&B, pharmaceutical, cosmetics, and animal feed. The F&B segment is expected to account for significantly large revenue share in the global vitamin A market during the forecast period due to rising demand for vitamins, including vitamin A. The nutritional value often diminishes due to extensive processing aimed at improving factors, such as shelf life, taste, texture, and appearance, as consumers opt for convenient packaged and processed foods.
Regional Insights:
The North America market accounted for largest revenue share in the global vitamin A market in 2022 owing to increasing health awareness and rising demand for quality food, and concerns about chronic diseases. In addition, increasing presence of key market players within the country due to increasing consumer interest in multivitamin supplements is also expected to drive market revenue growth of this region during the forecast period. Moreover, rising health concerns and prevalence of chronic diseases, along with excessive alcohol consumption are other factors driving market revenue growth of this region. Vitamins play a crucial role in preventing various disorders by providing essential amino acids.
The Europe market is expected to register fastest revenue growth rate in the global vitamin A market over the forecast period owing to increasing government initiations to control the prevalence of vitamin A deficiency and rising trend toward healthier eating. Need for vitamin A for their benefits, such as improving eyesight and immune system and treating skin conditions due to aging population and declining birth rates is also expected to drive market revenue growth of this region during the forecast period.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 540.2 Million |
| CAGR (2023–2032) | 5.0% |
| Revenue Forecast To 2032 | USD 884.1 Million |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Source, demographics, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Thorne, Pharmavite LLC., Care/of, Life Extension, Vitacost, Nordic Naturals, HUM Nutrition Inc., NOW Foods, Archer-Daniels-Midland Company, Fenchem, Royal DSM, deep visions Multimedia GmbH, Adisseo, Foodchem International Corporation, Divi's Laboratories Limited., Parkacre, Kirkman, Farbest Brands, Cellmark AB, and CAPTEK Softgel International Inc |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global vitamin A market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing a more effective vitamin A products in the market. Some major players included in the global vitamin A market report are:
- Thorne
- Pharmavite LLC.
- Care/of
- Life Extension
- Vitacost
- Nordic Naturals
- HUM Nutrition Inc.
- NOW Foods
- Archer-Daniels-Midland Company
- Fenchem
- Royal DSM
- Deep Visions Multimedia GmbH
- Adisseo
- Foodchem International Corporation
- Divi's Laboratories Limited.
- Parkacre
- Kirkman
- Farbest Brands
- CELLMARK AB
- CAPTEK Softgel International Inc
Strategic Development
- In July 2022, BASF announced to increase its global formulation capacity at its Verbund location in Ludwigshafen. The cutting-edge facility, which is fully integrated into the site's vitamin manufacturing, will support, and extend the production of high-quality vitamin A powder product for the animal nutrition industry.
- In May 2022, DSM and Firmenich joined forces through a business combination agreement, forming ’DSM-Firmenich.’ This partnership aims to become a top creation and innovation partner in nutrition, beauty, and well-being. It unites Firmenich's Perfumery and Taste businesses with DSM's Health and Nutrition portfolio, creating a new company with four distinct, complementary businesses, all backed by exceptional scientific expertise.
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Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global vitamin A market on the basis of source, demographics, application, and region:
- Source Outlook (Revenue, USD Million; 2019-2032)
- Natural
- Synthetic
- Demographics Outlook (Revenue, USD Million; 2019-2032)
- Children
- Adults
- Pregnant Women
- Application Mode Outlook (Revenue, USD Million; 2019-2032)
- F&B
- Dairy
- Bakery and Confectionery
- Beverages
- Baby Food
- Other Application
- Pharmaceutical
- Cosmetics
- Animal Feed
- F&B
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
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