Global Vitamin Market Outlook, 2029

The Global Vitamin market is expected to cross USD 12 Billion by 2029, driven by the rising focus on health and wellness.

The vitamin market has a rich history that dates back to the early 20th century when the essential nutrients were first discovered and isolated. The term ""vitamin"" was coined in 1912 by Polish biochemist Casimir Funk, marking the beginning of the scientific exploration of vitamins and their role in human health. The discovery of vitamins led to significant advancements in nutrition science, with the early focus on preventing deficiency diseases such as scurvy, rickets, and pellagra through supplementation and food fortification. Culturally, the vitamin market has evolved alongside increasing public awareness of health and wellness. Post-World War II, there was a surge in consumer interest in vitamins as a means to improve overall health and prevent chronic diseases. This interest grew exponentially with the rise of the fitness and wellness movements in the 1970s and 1980s, leading to the mainstream acceptance of dietary supplements. Today, vitamins are an integral part of daily health regimens for many, spanning across diverse demographics and lifestyles. According to the research report, “Global Vitamin Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 12 Billion by 2029. The vitamin industry is thriving, driven by increasing health awareness, rising disposable incomes, and a growing focus on preventive healthcare. Consumers are turning to vitamin supplements to boost immunity, enhance overall well-being, and address specific health concerns. The industry is characterized by a wide range of products, including multivitamins, single-vitamin supplements, and fortified foods and beverages. Technological advancements in formulation and delivery methods, such as gummies and effervescent tablets, have made vitamins more accessible and appealing. Vitamins are organic substances that the body needs in very small amounts to function properly. These are not internally synthesized. Therefore, it must be ingested through meals. In the human body, vitamins function as coenzymes, enzymes, and hormones. Vitamin inadequacies are a result of changing eating and living choices among consumers. The market for vitamins is driven by these developments, which call for an increase in fortified foods, beverages, and vitamin supplements. The majority of people on the planet, according to the USFDA, are vitamin deficient, and numerous governments worldwide are acting preventively to stop the spread of micronutrient deficiencies. Because vitamin supplements are becoming more widely available and people are becoming more conscious of their health, more and more consumers are accepting them as a regular component of their diet. Considering everything said above, the market for vitamins is predicted to expand significantly during the next several years.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Market Drivers Increasing market demand for processed foods with added nutrients. Fortifying food and beverages are the main application of vitamins. Because packaged and processed foods are easier to use, consumers are more likely to choose them. Foods are extensively processed, which results in the loss of some of their nutritional value, to improve their shelf life, flavour, texture, and appearance. To replenish the nutrients that have been lost from the meal, vitamins are needed to fortify it. Furthermore, some supplements can be taken to meet the daily Recommended Dietary Allowance (RDA) of the human body based on age as well as for preventive care. Accordingly, food firms are increasing their demands for vitamins for their goods to comply with regulatory sanctions and make label claims. Market Challenges

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Manmayi Raval

Manmayi Raval

Research Consultant

High prices and a limited supply of raw ingredients for natural vitamins. Natural fruits and vegetables found in the environment are good sources of natural vitamins. Vitamins are found in various foods, and removing these naturally occurring vitamins from food requires a laborious procedure. To make vitamins, these raw materials are also produced, shipped, or exported to different manufacturing facilities. Raw material deterioration and the high cost of transportation to preserve raw material freshness are the main causes of the growth in supply chain constraints. In the end, production raises the already-existing cost. The market for vitamins is constrained by the expense of obtaining raw materials because of all these issues. Impact on the environment leading to modifications in regulatory regulations. Most people take dietary supplements, therefore the Consumer Survey on Dietary Supplements from 2013 indicates that supplement use has reached an all-time high. The environment may be impacted by this. Most vitamins are obtained naturally; examples include omega-3 from fish oil, vitamin C from citrus fruits, vitamin E from seeds, and so on. For example, the carbon emissions from the vitamin C production facility during the extraction process also constitute vitamin C pollution. Cod liver oil is used in the production of omega-3 fatty acids, and 20% of farmed fish are not eaten. This presents a problem for the vitamin industry since they affect the environmental ecosystem. Market Trends As a potent antioxidant, vitamin E is frequently utilized in a variety of personal care products. There are various variants of this fat-soluble vitamin. Nevertheless, the human body exclusively uses alpha-tocopherol. Males and females above the age of 14 should consume 15 mg of vitamin E every day. It is advised that nursing women take more than 19 mg each day. A Harvard Education paper suggests that a vitamin E shortage may cause visual problems and inappropriate bodily motions. There are numerous sources from which vitamin E is derived for use in commerce, including wheat germ, soybeans, peanuts, etc. Some people, though, have an allergic problem with these. Thus, other naturally occurring sources of vitamin E include sunflower, avocados, spinach, almonds, and so forth.

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Manmayi Raval

Based on the report, the Type segment is segmented into Vitamin A, Vitamin B, Vitamin C, Vitamin, D, Vitamin E, Vitamin K. Vitamin A segment is leading in the Vitamin market due to its essential role in vision, immune function, and overall health, coupled with widespread deficiency prevention efforts and fortification initiatives. Its versatility in formulations also enhances its market appeal and accessibility. In the vitamin market, the Vitamin A sub-segment is leading due to its essential role in maintaining various critical bodily functions and its widespread recognition among consumers and healthcare professionals. Vitamin A is crucial for maintaining healthy vision, promoting normal growth and development, supporting immune function, and ensuring proper functioning of the heart, lungs, and kidneys. Its importance in preventing deficiencies that can lead to severe health issues, such as night blindness and an increased risk of infectious diseases, makes it a key component of many dietary supplements and fortified foods. The demand for Vitamin A is particularly strong in both developed and developing regions. In developed countries, the emphasis on preventive healthcare and the aging population's needs for maintaining vision and immune health contribute significantly to its consumption. Meanwhile, in developing countries, initiatives to combat Vitamin A deficiency—often driven by government and non-governmental organizations—further boost its market presence. These initiatives frequently include fortifying staple foods like milk, margarine, and cereals with Vitamin A, thus enhancing its reach and impact. Moreover, the versatility of Vitamin A in various formulations, such as retinol and beta-carotene, allows manufacturers to cater to diverse consumer preferences and needs, whether through multivitamins, standalone supplements, or enriched food products. This adaptability, combined with widespread awareness of its health benefits and proactive public health strategies, positions the Vitamin A sub-segment at the forefront of the vitamin market, driving both demand and innovation. Based on the report, the Application segment is segmented into healthcare products, Food & Beverages, Feed, Personal Care Products. The feed segment is estimated to grow at a higher growth rate in the Vitamin market due to the crucial role of vitamins in animal nutrition, ensuring optimal growth, health, and productivity of livestock. The increasing demand for high-quality animal products and the emphasis on animal welfare further drive the incorporation of vitamins in animal feed. In the vibrant landscape of the vitamin market, the feed sub-segment stands out as a leader due to the indispensable role of vitamins in animal nutrition, which is critical for the health, growth, and productivity of livestock. Farmers and producers are increasingly recognizing the importance of fortifying animal feed with essential vitamins to enhance the overall well-being and performance of their animals, leading to higher quality meat, dairy, and egg products. This trend is further fuelled by the rising global demand for nutritious and safe animal-derived food products, alongside stringent regulations and standards for animal welfare. By ensuring optimal nutrition through fortified feed, the industry not only supports animal health but also caters to the ever-growing consumer expectations for sustainably and ethically produced food, cementing the feed sub-segment's prominence in the vitamin market. North America is leading the vitamin market due to the rising popularity of low-calorie, high-nutrient products in this region. Moreover, throughout the projected period, the region's vitamin market would grow at a faster rate due to increased awareness of the benefits of supplement product usage. Due to the rising demand for vitamins, Asia-Pacific is expected to see a considerable expansion in the market for vitamins. North America commands a leading position in the vitamin market, driven by a robust healthcare infrastructure, high consumer awareness about health and wellness, and strong demand for dietary supplements. The region's affluent population, coupled with a proactive approach to preventive healthcare, fuels the consumption of vitamins to support overall well-being and address specific health concerns. Furthermore, a flourishing nutraceutical industry, combined with innovative product offerings and extensive retail networks, reinforces North America's market dominance. Meanwhile, the Asia-Pacific (APAC) region is experiencing a rapid surge in the vitamin market, propelled by rising disposable incomes, increasing urbanization, and growing health consciousness among its burgeoning middle-class population. The expansion of e-commerce platforms and the proliferation of health and wellness trends are further accelerating the adoption of vitamins in APAC, making it the fastest-growing market globally. This dynamic interplay of mature market leadership in North America and explosive growth in APAC underscores the global vitality and expansive potential of the vitamin market. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Vitamin Market Outlook with its value and forecast along with its segments. • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Source • Natural • Synthetic By Type • Vitamin B • Vitamin E • Vitamin D • Vitamin C • Vitamin A • Vitamin K By Application • Healthcare products • Food and beverages • Feed • Personal care products The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Vitamin industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Global Vitamin Market Outlook, 2029

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