Vitamin Ingredients Market for Food & Personal Care Applications By Product (Vitamin A, Vitamin D, Vitamin K, vitamin E, Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B7, Vitamin B12, Vitamin C), By Application (Food, Nutraceuticals, Sports Nutrition, Beverages, Personal Care), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, South Korea, Australia, Brazil, South Africa, Saudi Arabia), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 - 2024
Vitamin Ingredients Market for Food & Personal Care Applications is poised to exceed USD 7 billion by 2024; according to a new research report.
Growing demand for organic supplements, primarily among the geriatric population may stimulate vitamin ingredients market for food & personal care applications. They offer greater benefits than synthetic supplements owing to the presence of chemical ingredients. Moreover, the synthetic form of various vitamins such as A and K are associated with several adverse health effects on overconsumption which include liver damage. These side effects are more pronounced in the elderly which have compromised immune systems. Natural products contain easily digestible nutrients when compared to synthetic products which contain byproducts that are harder to digest, thereby accelerating growth of vitamin ingredients market for food & personal care applications.
Vitamin B12 market size from nutraceuticals may surpass USD 50 million by 2024. Improved sports performance along with tackling muscle wastage and joint health maintenance for the elderly may boost vitamin ingredients market for food & personal care applications. They are increasingly being used in various nutraceuticals such as fortified breakfast cereals, juices, soy milk and pasta which provide additional nutrients compared to their forms thereby stimulating vitamin ingredients market for food & personal care applications.
U.S. vitamin D market demand is poised to exceed USD 500 million up to 2024 owing to rising awareness of health & wellness in the country along with convenience feed demand. This product is essential for optimal calcium absorption to maintain bone & teeth health which may stimulate vitamin ingredients market for food & personal care applications. Product deficiency increases the possibility of rickets in children and breast, prostate, colon cancers & heart disease in adults which in result increases the growth of vitamin ingredients market for food & personal care applications.
UK vitamin B2 market from food applications could witness gains at over 4.5% in the forecast timeframe owing to several product benefits such as reduced fatigue & tiredness and supporting hectic lifestyles. This product is used in various fortified feed items such as pastas, sauces, breakfast cereals, fruit drinks, processed cheese and energy drinks. This nutrient is essential for the maintenance of digestive lining, healthy skin, blood cell production and its deficiency may cause anemia which should accelerate growth of vitamin ingredients market for food & personal care applications.
Vitamin K market size from personal care applications surpassed USD 1.2 million in 2017 on account of improved skin, nail, hair and eye health. It is used in skin care formulations for scars and stretch marks as it improves blood vessels elasticity, thereby driving vitamin ingredients market for food & personal care applications.
Vitamin ingredients market for food & personal care applications is considerably consolidated among a few manufacturers such as BASF, Nestle, Pfizer, Groupe Danone and DSM. Major industry participants are focusing on the development of new products and strategic mergers & acquisitions to achieve market growth.
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