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Vitamins and Derivatives Market

Vitamins and Derivatives Market By Product Type (Vitamin B, D, E, C, A & Other Product Types), By Target Group (Vitamins and Derivatives for Adult Women, Adult Men, Elders, Children), By End-use Industry, By Form - Regional Forecast 2021-2031

Analysis of Vitamins and Derivatives market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Vitamins and Derivatives Market Outlook

Latest industry analysis on vitamins and derivatives market Fact.MR estimates global vitamins and derivatives production to cross 139,450 Mn tons in 2021. However, demand will remain less at under 135,550 Mn tons. An upsurge in vitamins and derivatives demand value was observed in 2020 after the COVID-19 pandemic hit as consumers became more focused on building immunity.

Vitamins and derivatives business research performed by Fact.MR delves on key insights such as current and speculative production capacity, capacity utilization rates of each producer, current and speculative pricing, and price optimization strategy across the value chain, techno-economic analysis of vitamins and derivatives production, and many more.

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Demand Analysis of Vitamins and Derivatives for 2016 to 2020 Vs. Market Projections from 2021 to 2031     

As per Fact.MR – market research and competitive intelligence provider, over the past half-decade, global market value of vitamins and derivatives increased at a CAGR of around 5.7%, owing to high demand from end-use industries across regions such as the Middle East & Africa and APEJ.

Meanwhile, demand for vitamins and derivatives from the food & beverage sector is projected to rise at a CAGR of around 7.4% over the next ten years.

For more than a decade, rise in demand for vitamins and derivatives has been driven by food & beverages, which has accounted for around 30,763 Mn tons of the total vitamins and derivatives value in 2021. Further, the dietary supplement end-use industry is projected to contribute 45.9% market share in 2021. Sales of vitamins and derivatives in the pharmaceuticals industry are projected to increase at a CAGR of 2.7% over the next ten years.

Fact.MR has projected the global vitamins and derivatives market to rise at a CAGR of 5.7% and stand at around US$ 42 Bn by the end of 2031. These estimations have been put in place seeing mounting investments in dietary supplements of vitamins and derivatives along with rising health and wellness trends.

Moreover, the derivatives industry was positively affected by the recent pandemic which led to an upsurge in its Y-O-Y growth, as demand from the pharmaceutical industry ensured an increased supply of products.

Vitamins and derivatives market product by Fact.MR

Vitamins and Derivatives Market

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How is Rising Demand for Nutraceuticals Impacting the Vitamins Derivatives Market?   

Emphasis of millennials to maintain health has motivated more manufacturers of vitamin and derivatives to invest in the business. The present generation in developed nations is preferring health supplements to stay fit and maintain their health.

Unlike other forms of supplements, vitamins and derivatives can be consumed as a powder, oral liquids, capsules, tablets, and gummies & soft gels. The agility of vitamins supplements to react on the human body as water-soluble vitamin derivatives have proved to be one of the important drivers for the water-soluble vitamin derivative market and water-soluble vitamin supplement market.

The vitamins derivative tablets market, vitamins derivative capsules market, vitamins derivative powder market, vitamins derivative oral liquids market, and vitamins derivative gummies and soft gels market all are expected to gain astounding profits as all forms of vitamins are widely accepted by consumers.

Furthermore, vitamins, being an important source of nutrients for eye, skin, and overall health, have a dynamic demand scope. In addition to health benefits, vitamins and derivatives are also used as a precautionary measure and a dietary supplement against various ailments.

The vast majority of people above the age of 65 are introduced to multiple health challenges due to various vitamin deficiencies. The population that is above 60 years is expected to rise beyond 2 Bn by the year 2050, according to the UN-DESA population division, creating an opportunity for manufacturers.

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Why is the Cosmetics Sector a Steady Market for Vitamin and Derivatives?

At present, baby boomers and generation X consist of a majority portion of the population. These generations have more inclination towards beauty and cosmetic products.

Vitamin E is a healthier and natural solution for skincare, according to various studies. As a result, the cosmetics industry considers vitamin E (tocopherol) to be an important nutrient for skincare. Tocopherol/tocopheryl is widely utilized in skincare products such as sunscreens, anti-ageing creams, and many more.

Since the last decade, the market for antiaging creams has been surging. This has driven demand for vitamins and derivatives as a skincare solution. According to a World Bank report, 64% of the total population was between 15 – 64 years old in 2019. This population consists of a sizable market of the cosmetics sector using vitamins and derivatives as ingredients.

Countries popular for beaches have shown growth in demand for UV protectors. Vitamin and derivatives have been viewed as vital ingredients in these UV protection creams, which has subsequently increased their demand.

What is the Prospect of Food Grade Vitamin C Derivatives Globally?

Vitamin C is a well-known vitamin that benefits both, the inside and outside of the body. It is a common food ingredient with a slew of hidden advantages. Vitamin C is employed in a variety of industries and can also be found naturally in fruits and vegetables.

Food grade vitamin C is widely consumed by patients with low red blood cell count, which aids vitamin C supplements in the management of anaemia and dialysis. Its therapeutic properties will also lead to high growth over the forecasted period.

How Large is the Opportunity for Sales of Vitamins and Derivatives in South Asia?

Total consumption of vitamins & derivatives in South Asia is anticipated to be around 21,056.95 Mn tons in 2021, rising at a CAGR of 8.5% during the forecasted period. Rising demand from the region can be attributed to increased usage in industries such as food & beverages, pharmaceuticals, and cosmetics.

Additionally, demand for pharmaceuticals in South Asia is growing at an elevated phase. Demand for vitamin D derivatives for the elderly population to enhance calcium absorption in the bodies, vitamin A derivative for children to build a strong immune system, and feed grade vitamins and derivatives by farmers is increasing for overall health management in both, humans and animals.

Moreover, adoption of feed grade vitamin D3 derivatives and others has taken an upsurge in the region as packaged food consumption that is rich in vitamins has grown in the region.

Owing to the above-mentioned benefits of vitamin A derivatives, vitamin A derivative manufacturers in South Asia are projected to hold 21.4% market share by 2031.

Vitamins and derivatives market region by Fact.MR

Country-wise Analysis

Why is China Seen as a Major Market in Bolstering Demand for Vitamins and Derivatives?

The Chinese market has shown new trends in its business model over the years, which can be ascribed to shifting consumer preferences in the country. Consumer and higher-end personal care items, for example, are in high demand in the country.

Also, vitamins and derivatives are used in animal feed due to their special property of antioxidants. China is one of the largest producers of livestock products and the largest manufacturer of animal feed, which is eventually increasing sales of vitamins and derivatives in the country.

Attributed to these factors, the market in China is projected to expand at a CAGR of around 5.4% over the next ten years.

Moreover, China is also one of the leading vitamin and derivative producers with established production centres of prominent manufactures of vitamin derivatives in the country. This has enabled end users in China to procure raw materials at lower rates thus driving consumption of vitamins and derivatives.

How is Demand for Vitamins and Derivatives Shaping Up across Established and Evolving Markets?

India: India, being one of the emerging markets, will see greater penetration of vitamins and derivatives in end-use industries such as food & beverages, pharmaceuticals, and cosmetics & personal care.

Over 15% of children are affected by malnutrition-(NFHS) in India. A larger population of India does not include any essential vitamins in their diets; hence, manufacturers are introducing vitamins in the form of dietary supplements as demand for vitamins and derivatives increases in the country.   

U.S.: The U.S. has a well-established vitamins and derivatives product market, which is mainly attributed to high demand for dietary supplements along with consumption of derivatives as a solvent and application in cosmetics & personal care products.

Additionally, many consumers have insufficient optimal intakes of vitamins in their diet. Due to this, most in the United States uses at least one dietary vitamin tablet in their diet. Demand for vitamins and derivatives is poised to rise at a CAGR of 4.4% in the country.

Australia: The industry in Australia is projected to expand at a CAGR of 7.8%, as high awareness regarding dietary supplements in the country is catering to the the growth of the vitamins and derivatives sector.

Why is Germany Seen as a Lucrative Market for Vitamin and Derivative Suppliers?

Germany is a leading market for beauty and cosmetic products in Europe, owing to the presence of leading brands such as Dr Hauschka and Nivea, among other cosmetic brands, along with high demand for high-end cosmetic products. Since vitamins and derivatives find good use in personal care, it creates huge prospect for growth in the country.

Attributed to the above-mentioned factors and as per Fact.MR’s analysis, Germany is set to provide an absolute $ opportunity of around US$ 2.4 Bn while progressing at a CAGR of around 5.5% over the forecast period.

Category-wise Insights

Which Product Type of Vitamins and Derivative is Highly Sought-after?

There are eight forms of vitamin B available. Vitamin B derivatives are being highly demanded globally due to their wide range of applications in food & beverages and cosmetics. Vitamin B is used in food & beverages as it provides instant energy when consumed. Vitamin B is also used in pharmaceuticals for its therapeutic properties for diseases such as beriberi.

Attributed to the above-mentioned factors, the vitamin B derivatives market is projected to rise at a CAGR of around 3.4% reaching US$ 8.7 Bn by 2031.

Additionally, the vitamin A derivatives market, vitamin C derivatives market, and vitamin D derivatives market is projected to surge at CAGRs of 7.3%, 8.3%, and 4.1%, respectively. High demand for vitamin C derivatives in dermatology and natural vitamin C supplements is a prominent factor promoting overall market growth.

Furthermore, the vitamin A derivatives market size is in its growth phase and is expected to account for US$ 3.1 Bn by 2031, while demand for vitamin C derivatives in dermatology is also expected to boost the overall vitamins market.

Pharmaceutical grade vitamin B3 derivatives and (niacin) vitamin B3 and derivatives are among the vitamin B derivatives catering to high growth because of their use in cholesterol treatment and promoting a healthy nervous system and digestive system.

What is Demand for Vitamin and Derivative Supplements for Women Compared to Demand for Vitamin and Derivative Supplements for Men?

49.7% of the market is accounted for global sales of vitamins and derivative supplements for women while only 24.7% is accounted for sales of vitamins and derivative supplements for men.

Use of vitamins and derivatives as immune boosters is anticipated to be a prime factor driving vitamins and derivatives business growth. Adult women are more likely to be deficient in several vitamins. Most pregnant and breastfeeding women experience vitamin deficiency, Hence, demand for vitamins and derivatives for women is estimated to increase faster as compared to vitamins and derivatives for men.

Which is the Preferred Form of Vitamins and Derivatives?

The capsules segment is estimated to account for more than 33.3% of the market share in 2021, which is expected to witness a growth rate of 2.2% to reach a value of US$ 9.9 Bn by 2031.

Competition Landscape:

To expand their consumer base, vitamin and derivative manufacturers are opting for a mix of organic and inorganic growth strategies such as capacity expansion, acquisitions, and collaborations to help them garner more market share that would provide them with the desired competitive advantage.

Fact.MR has provided detailed information about the price points of vitamins and derivatives of manufacturers positioned across regions, sales growth, production capacity, and speculative production expansion in the recently published report.

  • Amway enters into a strategic partnership with ITC Limited to expand its immunity distribution network of immunity-boosting products.
  • The latest acquisition of DSM is Midori Health in July 2021. To improve nutrition utilization from animal feed and improve animal health.

Similar, recent developments related to companies offering vitamins and derivatives, details on vitamin & derivative manufacturing consumption, and vitamin and derivative distributors and have been tracked by the team at Fact.MR, which are available in the full report.

Vitamins and Derivatives Market Report Scope

Attribute

Details

Market size value in 2020

USD 24 Billion

Market forecast value in 2031

USD 42 Billion

Growth Rate

CAGR of 5.7% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

MT for Volume and US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Rest of LATAM
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
  • India
  • Indonesia
  • Vietnam
  • Rest of South Asia
  • China
  • Japan
  • North Korea
  • South Korea
  • Rest of East Asia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • North Africa
  • Nigeria 
  • Rest of MEA

Key Market Segments Covered

  • Product Type
  • Target Group
  • End-use Industry
  • Form
  • Region

Key Companies Profiled

  • Amway
  • DSM
  • Bayer
  • Pfizer
  • Lonza Group
  • Adisseo France S.A.A
  • BASF
  • DuPont
  • Nutrilo
  • AIE Pharmaceuticals
  • ParkAcre Enterprises
  • Aland Nutraceutical
  • Others

Pricing

Available upon Request

Market Segments Covered in Vitamins and Derivatives Industry Research

  • By Product Type

    • Vitamin B
    • Vitamin D
    • Vitamin E
    • Vitamin C
    • Vitamin A
    • Other Product Types
  • By Target Group

    • Vitamins and Derivatives for Adult Women
    • Vitamins and Derivatives for Adult Men
    • Vitamins and Derivatives for Elders
    • Vitamins and Derivatives for Children
  • By End-use Industry

    • Dietary Supplements
    • Food & Beverages
    • Pharmaceuticals
    • Personal Care
    • Other End-use Industries
  • By Form

    • Vitamin and Derivative Tablets
    • Vitamin and Derivative Capsules
    • Vitamin and Derivative Powder
    • Vitamin and Derivative Oral Liquids
    • Vitamin and Derivative Gummies and Soft Gels

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- FAQs -

Currently, the global vitamins and derivatives market is worth more than US$ 24 Bn.

Vitamins and derivatives consumption is expected to increase at a CAGR of around 5.7% during the period of 2021-2031.

In terms of revenue, the vitamins and derivatives market expanded at a CAGR of around 3.1% during 2016-2020.

Increased consumption of vitamins & derivatives as dietary supplements, rise of veganism, and awareness regarding vitamin derivatives acting as coenzymes are prominent trends in this space. 

Market players are opting for collaborations to upgrade their technologies to bulk produce dietary supplements of vitamin products.

Top 5 vitamin and derivative manufacturers hold around 24.3% of the market share.

The U.S., China, U.K, Germany, and India are major countries driving demand for vitamins and derivatives.

North America holds around 26.2% of global total vitamins and derivatives revenue share.

China and the U.S. are major vitamin and derivative producers.

The U.S. market is projected to expand at a CAGR of around 4.4% over the next ten years.

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