Key Trends Shaping the Vitamin D Market

Growth opportunities and latent adjacency in Vitamin D Market

(EMAILWIRE.COM, January 21, 2020 ) The global vitamin D market is estimated at nearly USD 1.1 billion in 2019 and is projected to reach nearly USD 1.7 billion by 2025, growing at a CAGR of 7.0%. The key driving factors of the vitamin D market include the increasing consumer concerns regarding maintaining a balanced diet and the growing consumer awareness about several diseases caused by vitamin D deficiency. Food fortification is one of the major trends that is fuelling the vitamin D market in the functional food & beverage industry. Vitamin D is gaining traction in the healthcare and pharmaceutical industry due to its wide demand in nutritional supplements, owing to its various bone health benefits. Consumers are increasingly shifting their preference toward on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their increasingly busy lifestyles, the rise in healthy snacking trend, and greater awareness about vitamin-fortified food & beverage products, thereby driving the market for vitamin D.

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On the basis of end user, the market segmentation includes adults, pregnant women, and children. The adults segment is estimated to dominate the vitamin D market. 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 the ankles, wrists, and knees. Pregnant women need to maintain optimum levels of vitamin D, which helps the body absorb calcium and phosphorus to enable proper growth of the infant’s bones and teeth. Vitamin D deficiency during pregnancy can cause growth retardation, skeletal deformities, and can have an impact on the birth weight of the infant. Rickets is a disease in children caused due to deficiency of vitamin D; it affects the development of the bones and causes soft, weak bones. This disease is prevalent among children in the age group of 3 to 18 months. Inadequate levels of sunlight exposure, skin pigmentation, immobility, birth to a vitamin D-deficient mother, malabsorption, and low intake of foods containing vitamin D are various factors that lead to this deficiency. Hence, vitamin D consumption is necessary for children.

Based on IU strength, the market segmentation includes 500,000 IU, 100,000 IU, and 40 MIU. Vitamin D3 40 MIU is also referred to as “vitamin D3 crystalline” and has a potency of 40 million international units per gram, the highest potency of vitamin D3. The product is majorly a white crystalline powder. Vitamin D3 of 500,000 IU is a free-flowing powder form of vitamin D3, which has a potency of 500,000 IU/gram and is practically insoluble in water. The 40 MIU type is more widely preferred IU strength in pharmaceuticals applications and accounted for the largest value share of the market in 2018. The vitamin D of 500,000 IU is majorly consumed in feed products.

The vitamin D market in the Asia Pacific is projected to witness the fastest growth between 2019 and 2025. The market in this region is dominated by China. Asia Pacific is witnessing the highest growth due to the rapid economic expansion. The region is attracting investors for setting up production facilities due to the ease of availability of raw materials, skilled labor, land, and equipment at a lower cost. It has become a key destination for manufacturers of vitamin D supplements and pharmaceutical product companies such as Alkem laboratories (India), Cadila Pharmaceuticals (India), Abbott Laboratories (US), and Sanofi S.A (France); it has also become a flourishing market for domestic manufacturers such as Fermenta Biotech Ltd (India), Zhejiang Garden Biochemical High-Tech Co., Ltd (China), Zhejiang Xinhecheng Co., Ltd (China), and Taizhou Haisheng Pharmaceutical Co., Ltd. (China). These players have manufacturing sites in this region and are focusing on increasing the production capacities in recent times.

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