The global vitamin D market size was USD 1,141.2 Million in 2020 and is expected to register a revenue CAGR of 6.40% during the forecast period. Key factors driving global market revenue growth are increasing prevalence of vitamin D deficiency, high usage of vitamin D in pet food and personal care products, and increasing preference for vitamin D-based dietary supplements.
Vitamin D, also known as calciferol, consists of a group of fat-soluble secosteroids that promote absorption of calcium, phosphorus and play a vital role in bone and teeth development and facilitates normal immune system functions. Its primary function is to promote calcium absorption in the gut and maintain sufficient phosphate and calcium concentration in the body for normal bone mineralization and prevention of hypocalcemic tetany. It also helps in regulating insulin levels, supporting lung functioning and cardiovascular health.
Getting adequate vitamin D is important for growth and to enhance resistance against various diseases. Oily fish such as salmon, mackerel, and herring, red meat, egg yolks, and fortified food including breakfast cereals, dairy products, soy milk, orange juice, or fat spreads are some common sources of vitamin D. Two commercially synthesized forms of calciferol include vitamin D2 (ergocalciferol) found in plants, dairy and plant milk, and vitamin D3 (cholecalciferol) found in fatty animal-sourced food such as egg yolk and fish oil.
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Vitamin D is also called sunshine vitamin as it is produced in the human body when directly exposed to sunlight. It is stored in form of fats during the daytime and is released when sunlight is not available and helps in reducing risks associated with various diseases such as multiple sclerosis, heart diseases, or common flu. Researchers also claim that vitamin D helps in warding off depression and regulating mood. Inadequate intake of vitamins, lack of exposure to sunlight, and poor diet often lead to calciferol deficiency. Prevalence of this deficiency is high in pregnant women, obese people, infants, children, neonates, and elderly population. Some of the common symptoms of this deficiency include tiredness, aches, impaired wound healing, hair loss, muscle and bone weakness, or stress fractures. Long-term deficiency can also lead to various cardiovascular problems, autoimmune problems, pregnancy complications, breast and prostate cancer, and severe asthma in children.
Various research centers and educational institutes are focusing on new role of this vitamin in cell growth modulation, and neuromuscular functions. In addition, the recent COVID-19 outbreak is expected to result in rising demand for vitamin D ingredients as it plays a vital role in enhancing human innate immune system. Various private and public sectors are investing in research & development activities for finding the correlation between vitamin D and coronavirus infection.
Market Dynamics:
Drivers: Increasing prevalence of vitamin-D deficiency, and rising demand for premixes and nutricosmetics are key factors boosting market revenue growth
Revenue growth of the global market is attributed to factors such as increasing prevalence of hypercalcemia, osteomalacia, rickets, and osteoporosis, increasing awareness about vitamin D deficiency, and rising demand for premixes, nutricosmetics, and plant-based products. In addition, factors such as improving healthcare infrastructure, availability of advanced vitamin-D testing facilities, increasing investments in research & development activities, and high usage of vitamin D in various sectors such as feed & pet food, food & beverages, personal care products, and pharmaceutical are factors driving market revenue growth.
Restraints: Side effects associated with calciferol and strict regulatory norms are key factors hampering market revenue growth
High doses of vitamin D3 for longer time can lead to various health issues such as elevated blood levels, calcium levels, and kidney failure. Some common side effects are nausea, poor appetite, constipation, diarrhea, vomiting, and headache. In addition, high initial investments required for advanced manufacturing machinery, for filling and packaging to avoid contaminations, and increasing productivity can hamper market revenue growth during the forecast period. Other factors such as scarcity of ingredients and fluctuating prices of raw materials could also hamper market revenue growth going ahead.
Key Takeaways:
Type Outlook:
Based on type, the global market is segmented into vitamin D3 and vitamin D2. The vitamin D3 segment is expected to account for largest revenue share over the forecast period. Factors such as increasing prevalence of cardiovascular diseases, malnutrition across the globe, rising consumer focus on strengthening bones and muscles, and high usage of vitamin D3 in face products. Vitamin D3 works better than D2 in increasing overall levels of vitamin D and lasts longer in the body. It has anti-inflammatory effects and helps in strengthening muscles and bones, improves mood, and boosts overall immunity.
Test Outlook:
Based on test, the global vitamin D market is segmented into 25 Hydroxy, and 1, 25 Dihydroxy. The 25 Hydroxy segment is expected to account for higher revenue share in the global market between 2021 and 2030. Factors such as increasing global geriatric population, rising risk of low vitamin D levels among neonates, obese people, adults with weak bones, and increasing need for monitoring calciferol levels are driving revenue growth of this segment. 25 hydroxy-vitamin D is the best way to monitor levels of vitamin D in the body. This test is an important indicator for determining osteoporosis and rickets.
Form Outlook:
The global market is segmented into dry and liquid, based on form. Among these, the dry segment is expected to account for significantly larger revenue share during the forecast period, owing to increasing prevalence of vitamin D deficiency among pregnant women, children, infants, and geriatric population, rising preference for vitamin supplements, and availability of a wide range of products. The dry form is more preferred in comparison to liquid form as it is easy to handle, transport, and store dry products, and it is more stable and has better shelf life. Major manufacturers are using advanced techniques such as spray dry technique for increasing its shelf life.
Application Outlook:
Based on application, the global market is segmented into feed & pet food, food & beverages, personal care, pharmaceutical, and others. Among these, the feed & pet food segment is expected to register highest revenue growth rate over the forecast period, owing to increasing investments and rapidly growing animal feed and pet food sectors, and high usage of vitamin D in animal feed and pet food. Just like humans, animals also need calciferol for stimulating intestinal calcium and phosphate absorption and regulating bone mineral metabolism.
End Use Outlook:
Based on end use, the global market is segmented into children, adults, and pregnant women. The adults segment accounted for significantly larger revenue growth in 2020 and is expected to maintain its position between 2021 and 2030. Factors such as increasing prevalence of vitamin deficiency in adults and geriatric population, rising incidence of various bone-related issues such as osteomalacia, osteoporosis, and osteopenia and increasing awareness about bone and joint health, and high usage of vitamin supplements as personal care products are factors driving revenue growth of the segment.
Regional Outlook:
Geographically, the vitamin D market in North America is expected to account for largest revenue share in the global market during the forecast period, owing to increasing number of vitamin deficient cases, cancer, diabetes, and other chronic diseases, high prevalence of rickets in infants and children, increasing consumer preference for healthy diet and dietary supplements, and rising demand for personal care products. In addition, increasing product approvals, high spending capacity, and presence of well-established healthcare infrastructure and research centers, rising prevalence of malnutrition and increasing adoption of sedentary lifestyles are other factors supporting demand for Vitamin D-based products and drive revenue growth of the market in North America.
Asia Pacific market is expected to register highest revenue CAGR of 7.1% over the forecast period. This can be attributed to factors such as high prevalence of vitamin D deficiency, increasing malnutrition among children, and increasing investments in pharma and animal feed sectors. Other factors such as increasing awareness about vitamin D deficiency, increasing adoption of nutrient supplements, presence of various major market players, rising disposable income, and increasing investments in research & development activities are boosting Asia Pacific market revenue growth. China, India, and Japan are major revenue contributing countries in this region.
Competitive Landscape:
The global vitamin D market is extremely competitive and comprises various key players at regional and global levels. Major players in the market are focused on product development and are adopting various strategies such as joint ventures, license agreements, investments in research and development activities, collaborations and mergers and acquisitions to expand their product base and strengthen their market position. Koninklijke DSM N.V, Zhejiang Garden Biochemical High-Tech Co Ltd., Fermenta Biotech Ltd., BASF SE, Dishman Group, Taizhou Haisheng Pharmaceutical Co Ltd., Zhejiang Medicine Co Ltd., PHW Group, Bio-Tech Pharmacal, Divi’s Nutraceuticals, Synthesia, Hangzhou Think Chemical Co Ltd., Sichuan Neijiang Huixin Pharmaceutical Co Ltd., Kingdom Nutrition Inc., Nestle Health Science, McKinley Resources Inc., New Gen Pharma Inc., Taizhou Hisound Pharmaceutical Co Ltd, Pharmavit, Tocris Bioscience, Lycored, Stabicoat Vitamins, and Spectrum Chemical MFG Corp are key players profiled in the global vitamin D market report.
Strategic Developments:
- In April 2021, Nestle Health Science announced acquisition of some products, vitamins and supplements of Bountiful Co., for US$ 5.75 Billion. This acquisition is expected to enhance Nestlé’s existing nutrition and health portfolio.
Pipeline Analysis:
Koninklijke DSM N.V announced the launch of ampli-D, a 3 times faster effective vitamin D supplement in Australia in March 2021. ampli-D follows regulatory approval for use in dietary supplements by Therapeutic Goods Administration (TGA) Australia and does not require a doctor’s prescription. This product is faster and much effective for Australian consumers to boost levels of vitamin D in the body in just few days and weeks instead of months.
Another key development includes ongoing phase 3 trial for vitamin D on patients with newly diagnosed COVID-19. The randomized clinical trial includes around 2700 US men and women to check whether daily dietary supplement of vitamin D3 for 4 weeks will reduce severity of the disease in recently diagnosed COVID-19 patients.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented the global vitamin D market on the basis of by type, test, form, application, end use, and region:
Vitamin D Market Report Scope
Segments covered By Type Outlook, Test Outlook, Form Outlook, Application Outlook, End Use Outlook, Regional Outlook
By Type Outlook
Vitamin D3
Vitamin D2
By Test Outlook
25 Hydroxy
1, 25 Dihydroxy
By Form Outlook
Dry
Liquid
By Application Outlook
Feed & Pet Food
Animal Feed
Pet Food
Food & Beverages
Personal Care
Pharmaceutical
Other
By End Use Outlook
Children
Adults
Pregnant Women
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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