Vitamin D Market: Major End-Users and Advancing Trends
Vitamin D, also known as calciferol, is a fat-soluble vitamin. It is present naturally in some foods and is externally added to others. With the rising awareness regarding the benefits of nutritious and healthy food, there is an increasing demand for vitamin D-rich foods. Major dry vitamin D applications include food fortification, medical food, dietary supplements, and functional food & beverage. Inkwood Research anticipates that the global vitamin D market will surge with a 7.62% CAGR in 2032, and generate a revenue of $2955.84 million during the forecast period, 2023-2032.
Vitamin D is obtained from sun exposure and is also available as a dietary supplement. For instance, in March 2021, Royal DSM, a chemical company focused on sustainable living, nutrition, and health, introduced ampli-D in Australia, a fast-acting dietary supplement for vitamin D. It is an effective supplement that helps the body reach the right vitamin D levels to support immune health.
Applications in Major End-User Markets
Some of the popular applications in the studied market include pharmaceuticals, animal feed and pet food, functional food & beverages, and personal care.
In Food & Beverage
Vitamin D is used in foods and beverages such as snacks and cereals, sports drinks, fruit juices, and dairy products. Fortified foods provide most of the vitamin D in American diets. The growing food and beverage industry worldwide is expected to drive the demand for vitamin D. The vitamin is also used in pet food and animal feed products to enhance their nutritional value, thereby improving the diet of animals such as horses, hens, dogs and others. With the growing focus on animal sustenance in different regions, Vit D is evaluated to harbor growth opportunities during the forecast period 2023-2032.
The production of vitamin D consumables in capsules and tablets is expected to increase the penetration of medication prescribed by doctors. The liquid vitamin D is used in food supplements to boost immunity, support dental and bone health, and maintain cardiovascular health. The superior absorbability of the liquid product and ways to treat vitamin deficiency by directly administering it into the body is expected to drive the market growth. Furthermore, animal and plant-based products are vitamin D sources for medicine compositions. Hence, the varied applications of vitamin D in the pharmaceutical end-user industries are expected to boost market growth.
According to Inkwood Research, pharmaceutical is set to dominate the global vitamin D market in the application segment, with the total revenue expected to reach $1455.16 million by the end of 2032.
Leading Market Growth Drivers and Trends
Surging Incidences of Osteoporosis in Women
Osteoporosis is a bone disease caused by bone mineral density, mass reduction, and a change in the quality of the bone structure. It is usually caused by a lack of calcium and vitamin D in the body, which increases the risk of fractures. According to the International Osteoporosis Foundation (IOF) statistics, in 2019, around 25.5 million women were estimated to have osteoporosis across Europe alone. Further, by 2025, global incidences of hip fractures in women are expected to increase by around 240%, significantly boosting the market growth. The rising number of incidences of osteoporosis in women is anticipated to propel the growth of the vitamin D market.
Rising Use of Fast-Acting Dietary Supplements
The faster-acting dietary supplement is a key trend gaining popularity in the vitamin D market. These supplements balance optimum nutrient levels in the body and are more quickly absorbed compared to conventional vitamin D. These effective and innovative vitamin D supplements are used to treat patients with severe deficiency of the nutrient, helping them with fast recovery. Key players like Unilever PLC, BASF SE, and DSM focus on offering faster-acting vitamin D supplements to strengthen their market position.
In December 2020, Unilever PLC, a United Kingdom-based consumer goods company, acquired SmartyPants Vitamins. SmartyPants Vitamins is a United States-based vitamin, mineral, and supplement company. This acquisition is predicted to complement Unilever’s functional and fast-acting nutrient segment portfolio.
All in All: Changing Lifestyles to Stimulate Growth Opportunities
With the changing lifestyles, there is a growing prevalence of numerous lifestyle-related diseases such as diabetes, obesity, nutritional deficiency and others. Similarly, with the long working hours and long duration of sitting, there have been rising cases of bone and joint health issues. Besides, the rising population of elderly people is also associated with a high risk of such diseases. Altogether, these factors produce lucrative growth opportunities for the global vitamin D market.
Who are some of the leading end-users of vitamin D?
Adults, pregnant women, and children are some of the leading end-users of vitamin D.
Which regions are included in the global vitamin D market report?
Asia-Pacific, North America, Europe, and Rest of World are included in the global vitamin D market report.