The Global Market for Vitamins is projected to Reach US$9.3 Billion by 2020

Growing Health Consciousness and Rising Preference for Preventive Medicine Drive the Global Vitamins Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Vitamins. The global market for Vitamins is projected to reach US$9.3 billion by 2020, driven by rising health consciousness among the aging population, and adoption of preventive healthcare practices.

Vitamins represent a steadily growing market, driven by rising health consciousness among the aging population, and growing per capita meat consumption in developing countries. The medium to long-term outlook for the market remains fairly optimistic, supported by population growth, increase in consumption of vitamin supplements particularly in developing countries, recovering GDP, growing discretionary spending and consumer emphasis on leading healthier and active lives. Consumption of vitamins in the human healthcare and personal care markets is driven by urbanization, and the resulting rise in stress caused by hectic lifestyles and pollution. Magnesium, B-complex vitamins, vitamin E and multivitamin are few of the most widely consumed vitamins, the world over. Increase in life expectancy and the rapidly aging world population are also spurring growth in the market. Emphasis on maintaining active lifestyles and growing prominence of preventive healthcare are creating a lucrative market for health supplements capable of preventing age-related diseases. Also poised to witness growth are vitamin fortified foods and cosmetics among the gen-X consumers. Animal nutrition represents the largest end-use sector for vitamins. Increase in animal agriculture, against a backdrop of rising protein needs of a growing population, is creating opportunities in this sector.  

As stated by the new market research report on Vitamins, Asia-Pacific represents the largest market worldwide, followed closely by Europe. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.6% over the analysis period. Increasing popularity of water soluble vitamins, growing vitamin C demand particularly in China, expanding middle class population, aging population, higher disposable incomes, and changing personal health perceptions, represent key growth drivers in the region. China represents the largest producer and consumer of vitamins worldwide.

Key players covered in the report include Adisseo France S.A.S, Aland (Jiangsu) Nutraceutical Co., Ltd., Archer Daniels Midland Co., BASF SE, CSPC Pharmaceutical Group Limited, DSM Nutritional Products Ltd., Lonza Group Ltd., North China Pharmaceutical Corporation, Pharmavite LLC, Zhejiang Hangzhou Xinfu Pharmaceutical Co. Ltd., Zhejiang Medicine Company Ltd., and Zhejiang NHU Co. Ltd., among others.

The research report titled “Vitamins: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides annual revenue estimates and projections in US$ for the global and major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Vitamin types analyzed in the report include Vitamin A, Vitamin B Complex, Vitamin C, Vitamin D, Vitamin E and Vitamin K. Key end-use segments analyzed include Animal Feed Additives, Cosmetics, Food, and Pharmaceuticals.