Vitamin D Market Global Key Players and Size is Reach USD 1.9 billion by 2027

The vitamin D market size is estimated to be valued at USD 1.3 billion in 2022 and is projected to reach USD 1.9 billion by 2027, recording a CAGR of 7.1% during the forecast period in terms of value. The vitamin D market in escalating with the increase in consumption and demand of feed around the world. Moreover, the feed industry is observing an increasing trend in need for improved feed products, that strengthens the requirement for nutritional additives. Furthermore, in developing economies such as China and India, where there is a growing focus on animal nutrition, different vitamins are expected to experience a strong rise in the demand from the feed industry. In addition, increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused by vitamin D deficiency will also boost the market of Vitamin D during the forecast period. Food fortification is one of the major trends, which is fueling the vitamin D market in the functional food & beverage industry.

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"By form, the dry segment is estimated to grow at the highest CAGR during the forecast period in terms of value."
Vitamins are available in various grades and forms to suit the varying demands in end-use applications such as healthcare, food & beverage, animal feed, and personal care. The forms include spray-dried powder, beadlets, liquid, or crystals. The vitamin D market by dry form is projected to grow at a higher CAGR by 2027. Manufacturers prefer the dry form of vitamin D due to its greater stability, ease of handling and storage, and convenience of usage in a wide range of products. Most of the vitamin D sold is synthetic as compared to natural.

"By application, pharmaceutical segment holds the second largest share during the estimated year in terms of value."
Based on applications, the vitamin D market was dominated by the pharmaceutical segment in 2021, in terms of value. Moreover, due to higher cost associated with potency level or IU level of vitamin D, the pharmaceutical segment is valued higher. The pharmaceuticals segment is also projected to grow at the highest CAGR, owing to its wide usage in health supplements, injectables, and capsules. Globally, the volume market is dominated by the feed & pet food segment in the market.

Vitamin D is gaining traction in the healthcare and pharma industry due to its wide demand in nutritional supplements, owing to its various bone health benefits.

"By analog, vitamin D3 segment is estimated to witness a steady growth rate over the forecast period in terms of value."
Vitamin D3 holds the largest market share in 2021 in terms of value. Vitamin D3 increases circulating serum 25(OH)D concentration more efficiently than vitamin D2. Moreover, the larger impurities and smaller stability in the removal of vitamin D2 may lead to aelevated risk of toxicity than that coupled with vitamin D3. Main sources of vitamin D2 include mushrooms and yeast. The broad applications of vitamin D3 in the animal feed industry are estimated to drive the market for vitamin D.

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"By end user, adults segment is estimated to witness the steady growth rate over the forecast period in terms of value."
Vitamin D deficiency is extremely prevalent in adults more than 50 years of age. Severe deficiency results in osteomalacia, osteopenia, osteoporosis, and osteoarthritis, which can lead to deep bone pain, poor growth, fractures, and deformities of the skeleton, such as bowed legs, the curvature of the spine, and thickening of ankles, wrists, and knees. These factors are responsible for the highest growth of the adults segment in the forecast period.

"Asia Pacific holds the largest share during the estimated year in terms of value."
The Asia Pacific is the largest market for vitamin D globally. China dominates the market in this region. The Asia Pacific is recognising the peak growth due to speedy financial growth. Moreover, the region is drawing investors for setting up construction facilities due to the ease of readiness of skilled labor, raw materials, land, and equipment at a lower cost.

n January 2019, Fermenta Biotech Limited executed a 99-year lease agreement to acquire land of around 40,000-square-meter from the Gujarat Industrial Development Corporation (GIDC) authority, Ankleshwar, Sayakha, for future expansion. The company aimed to commence manufacturing by the end of 2020.This acquisition would increase the production capacity of vitamin D to facilitate product extensions and new product rollouts.

The vitamin D market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (South Africa, Middle East, Rest of Africa).

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 70%, Tier 2- 25%, and Tier 3- 5%
• By Designation: C-level- 50%, D-level- 30%, and Others- 20%
• By Region: Asia Pacific- 45%, Europe- 12%, North America- 21%, Rest of the World- 12%, and South America - 10%

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Leading players profiled in this report include the following:
• DSM (Netherlands)
• Zhejiang Xinhecheng Co., Ltd. (China)
• Fermenta Biotech Ltd. (India)
• Dishman Group (India)
• Xiamen Jindawei Vitamin Co., Ltd. (China)
• Zhejiang Medicine Co., Ltd (China)
• PHW Group Lohmann & Co. (Germany)
• Sichuan NeijiangHuixin Pharmaceutical Co Ltd (China)
• BASF SE (Germany)
• Bio-Tech Pharmacal (US)
• Divi's Nutraceuticals (India)
• Synthesia, a.s. (CZE)
• HangZhou Think Chemical Co.,Ltd. (China)
• Kingdomway Nutrition, Inc. (CA)
• McKinley Resources Inc. (US)
• NewGen Pharma (US)
• TAI ZHOU HISOU ND PHARMACEUTICAL CO.LTD (China)
• Pharmavit (Netherlands)
• Lycored (Israel)
• Stabicoat Vitamins (India)
• SternVitamin GmbH & Co. KG (Germany)
• Farbest-Tallman Foods Corporation (US)
• Rabar Animal Nutrition (Australia)
• Adisseo (France)

Research Coverage
This report segments the vitamin D market on the basis of application, analog, end user, form, IU type, and region. In terms of insights, this research report focuses on various levels of analyses-competitive landscape, and company profiles-which together comprise and discuss the basic views on the emerging and high-growth segments of the vitamin D market, high-growth regions, countries, drivers, restraints, opportunities, and challenges.

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