Global Vitamin Ingredients Market 2016-2020
Vitamins are of two sorts — water soluble (A, D, E, and K) and fat soluble (vitamin B and vitamin C). Vitamin B can be of the following types B1 (thiamine), B2(riboflavin), B3 (niacin), B5 (pantothenic), B6, B12, B9, and B7. The chemical ingredients that constitute vitamins are called vitamers. Vitamins can contain multiple vitamers. For example, Vitamin A contains six vitamers — retinal, retinol, and four types of carotenoids. Human body does not produce vitamin by itself, so human beings depend on secondary sources such as food and supplements for vitamins.
Technavio’s analysts forecast the global vitamin ingredients market to grow at a CAGR of 4.71% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global vitamin ingredients market for 2016-2020. To calculate the market size, the report considers the revenue generated through sales of vitamin products for applications such animal feed, food and beverages, pharmaceutical and cosmetic.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vitamin Ingredients Market 2016-2020
Technavio recognizes the following companies as the key players in the global vitamin ingredients market: Amway, BASF, DSM, DuPont, and Lonza.
Other Prominent Vendors in the market are: AIE Pharmaceuticals, Aland (Jiangsu) Nutraceutical, Atlantic Essential Products, Bactolac Pharmaceutical, Bluebonnet Nutrition, Glanbia Nutritionals Deutschland, Kirkman, Nulab, Nutrilo, ParkAcre Enterprises, Pfizer, and Private Label Nutraceuticals.
Commenting on the report, an analyst from Technavio’s team said: “A recent trend influencing the growth in the market is the increase in the promotional and marketing efforts of vendors of prenatal vitamin supplements. The results of such actions have been positive in the case of such supplements, which have been promoted widely by vendors through numerous campaigns. In addition to suppliers, even manufacturers of other nutritional products have been selling their products by highlighting their health benefits, which helps in attracting health-conscious people. Also, vendors have come up with the strategy of providing free sample kits of the products to expecting mothers at childbirth education classes and through media programs for expecting mothers. For instance, vendors like Amway provides free samples of pregnancy nutrition food.”
According to the report, increased usage of vitamins in cosmetics industry will be a key driver for market growth. Some cosmetics have medicinal or drug-like benefits. These products can affect the biological functioning of the skin depending on the type of ingredients they possess. These products improve the texture of the skin by opposing the harmful effects of free radicals, thereby helping to maintain keratin structure in good condition and making skin healthier. For example, L'Oréal's Advanced Suncare Protect Clear Cool Lotion. reduces skin temperature up to 4 degrees. Its ingredients include antioxidants such as vitamin E and white grape-seed oil. Consumers appreciate cosmetics fortified with vitamins and are ready to pay premium prices. As a result, most cosmetic brands view the manufacture of vitamin-fortified cosmetics as an attractive business proposition. Another significant driver is the considerably generous nature of regulations governing the cosmetics industry.
Further, the report states that loss of consumer confidence will be a challenge for the market. The supplements market is being targeted recently due to the link between the use of supplements and a series of serious illnesses. The ingredients used in supplements are not tested, and their combined effects are unknown. Vitamin supplements can cause nausea or aggravate morning sickness. Also, excess or deficiency of vitamin A can cause birth defects. Long-term use of beta-carotene, Vitamin A, and Vitamin E supplements may shorten life span with additional health risks. Thus, consumer concerns regarding supplement safety is increasing.
Amway, BASF, DSM, DuPont, Lonza, AIE Pharmaceuticals, Aland (Jiangsu) Nutraceutical, Atlantic Essential Products, Bactolac Pharmaceutical, Bluebonnet Nutrition, Glanbia Nutritionals Deutschland, Kirkman, Nulab, Nutrilo, ParkAcre Enterprises, Pfizer, Private Label Nutraceuticals.