Vitamin Ingredients Global Market Report 2024

The global vitamin ingredients market has grown strongly in recent years. It will grow from $4.97 billion in 2023 to $5.27 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed in the historical period can be attributed to several factors, including increasing health awareness among the population, a growing aging demographic, diverse dietary preferences, a rise in chronic health conditions, the prevalence of fitness and wellness culture, consumer demand for natural ingredients, fortification of food and beverages, globalization of dietary trends, growth in the nutraceuticals industry, and advancements in clinical research and health studies. These factors collectively contributed to the expansion of the market for vitamin ingredients during the historical period.

The global vitamin ingredients market is expected to see strong growth in the next few years. It will grow to $6.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to several factors, including the emergence of personalized supplements, the increasing adoption of vegan and plant-based diets, advancements in nutrigenomics and nutrigenetics, the demand for elderly nutrition solutions, the expansion of the functional foods market, government initiatives promoting public health, and the integration of vitamins in functional beverages. Major trends expected in the forecast period include the emphasis on vitamin D supplementation, the creation of customized vitamin blends, a focus on clean label and natural sourcing, innovations in delivery formats for vitamin consumption, the integration of digital health and personalized nutrition apps, and a commitment to sustainable sourcing practices. These trends highlight the evolving landscape of vitamin ingredients, aligning with consumer preferences, health advancements, and sustainable practices.

The upward trajectory of chronic medical conditions is anticipated to drive the expansion of the vitamin ingredients market in the foreseeable future. Chronic diseases, persisting for a year or more, demand ongoing medical attention and necessitate adequate nutrition to combat them effectively. Vitamin ingredients play a pivotal role in addressing chronic diseases, notably in alleviating chronic inflammation linked with non-communicable diseases (NCDs) like diabetes and obesity. According to the World Health Organization (WHO), approximately 41 million people succumb to chronic diseases annually worldwide, with 17 million facing such conditions before the age of 70. This epidemic primarily affects low- and middle-income countries, spotlighting the imperative role of vitamin ingredients in addressing chronic medical ailments and propelling market growth.

The escalating prevalence of vitamin deficiencies is poised to steer the vitamin ingredients market's growth. Vitamin deficiencies arise when the body lacks specific vitamins, leading to a spectrum of health complications. Vitamin ingredients, prevalent in dietary supplements, fortified foods, and pharmaceuticals, play a pivotal role in addressing such deficiencies and ensuring adequate vitamin intake. For example, statistics from Vitall.co.uk revealed nearly one billion people globally experience low vitamin D levels, with 20% of the UK population affected by vitamin D deficiency. Additionally, deficiencies in vitamin B12 and iron are pervasive, impacting a notable proportion of the population worldwide. With iron deficiency being the most prevalent nutrient deficiency globally, the rising incidence of such deficiencies fuels the demand for vitamin ingredients in various applications.

Product innovation stands as a prominent trend shaping the landscape of the vitamin ingredient market. Key market players are introducing pioneering products, exemplified by Vytrus Biotech's launch of Nectaria Lithops in April 2021. This novel natural active ingredient fosters enhanced stimulation of vitamin D synthesis, representing a breakthrough in skincare solutions. Nectaria Lithops offers a natural and innovative solution that boosts vitamin D production in the skin, rejuvenating, volumizing, and brightening the complexion. Its unique features support deep skin hydration, dewiness treatments, sun care, and overall skin health, making significant strides in cosmetic applications aimed at enhancing skin vibrancy, texture, and microcirculation. This innovation underscores the market's commitment to advancing cutting-edge solutions and meeting evolving consumer demands for holistic skincare solutions enriched with essential vitamin ingredients.

Major companies within the vitamin ingredient market are strategically unveiling innovative supplement ranges, integrating exclusive blends of vitamin ingredients to secure a competitive advantage. These supplements, designed with proprietary blends of vitamin ingredients, encompass a distinct combination of components tailored for specific health benefits. For instance, in August 2023, Nutritional Research Company, a leading US-based provider of vitamins and supplements, introduced a supplement range featuring vitamins C and D3. This product line incorporates Absorbable C and Absorbable D3, each comprising a proprietary blend of natural fruit extracts, including acerola cherry, amla powder, camu-camu powder, and rosehip powder. Vitamin C, found in Absorbable C, is renowned for supporting skin, bone, and cartilage health, combating cellular oxidative damage, and preventing scurvy. On the other hand, the liposomal form of vitamin D3 in Absorbable D3 enhances absorption efficiency by resembling cell structures, thereby aiding in diabetes risk reduction among adults with prediabetes by 15%. With the growing consumer inclination towards vitamin D for its immunity-related benefits, calcifediol, the active vitamin D3 form, stands as a significant influencer in optimizing absorption.

In June 2022, Kensing Solutions LLC, a notable US-based specialty chemicals manufacturer, completed the acquisition of Vitae Naturals for an undisclosed sum. This strategic move is anticipated to complement Kensing’s existing product portfolio and bolster its European presence, thereby accelerating its growth trajectory. Vitae Naturals, based in Spain, specializes in the production of naturally sourced Vitamin E, aligning with Kensing’s strategic vision for expansion and diversification within the vitamin ingredients market.

Major companies operating in the vitamin ingredients market report are Archer Daniels Midland Company, BASF SE, Bluestar Adisseo Company, Koninklijke DSM NV, Lonza Group AG, Nestlé SA, Amway Corporation, AIE Pharmaceuticals Inc., Bactolac Pharmaceutical Inc., Atlantic Essential Products Inc., Farbest-Tallman Foods Corporation, Pfizer Inc., Aland (Jiangsu) Nutraceutical Co. Ltd., Btsa Biotecnologías Aplicadas SL, The Wright Group Inc., Bluebonnet Nutrition Corporation, Abbott Laboratories, Glanbia plc, Rabar Pty Ltd, DuPont de Nemours Inc., Zhejiang Pharmaceutical Co. Ltd., Zhejiang Xinhecheng Co. Ltd., Nengte Technology Co. Ltd., Adisseo SAS, Alfa Aesar GmbH, Algatechnologies Ltd., Alkemists Labs, Alltech Inc., American Laboratories Inc., Anhui Tiger Biotech Co. Ltd., Aroma NZ Ltd.

North America was the largest region in the vitamin ingredients market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vitamin ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vitamin ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary sources of vitamin ingredients are natural and synthetic. Natural vitamin ingredients are either produced within the human body through the process of digestion or obtained directly from natural components found in the environment. These natural vitamin ingredients play a crucial role in resisting conditions such as cancer, diabetes, heart disease, and premature mortality. Vitamins A, B, C, D, E, and K represent different types of vitamins, available in solid, liquid, and powder forms. These vitamin ingredients find applications in various industries, including pharmaceuticals, food and beverages, personal care products, animal feed, and other diverse applications.

This report provides vitamin ingredients market statistics, including vitamin ingredients industry global market size, regional shares, competitors with a vitamin ingredients market share, detailed vitamin ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the vitamin ingredients industry. This vitamin ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry

The vitamin ingredients market consists of sales of biotin, thiamin, pantothenic acid, riboflavin, and niacin among others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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