Global vitamin D3 market size was USD 180.0 Million in 2021 and is expected to register a revenue CAGR of 3.0% during the forecast period. Increasing realization among people towards health-conscious and changing nutritional needs is expected to drive vitamin D3 market revenue growth. Onset of the COVID-19 pandemic has also highlighted need for additional such supplements, particularly in cases or instances, where necessary vitamin sources cannot be derived or obtained.
Vitamin D is a highly essential compound that includes vitamins D1, D2, and D3. Major natural sources of vitamin D include fatty fish such as salmon, mackerel and tuna, egg yolk, cheese, soy milk, and other fortified foods. Exposure of skin to sunlight can also activate production of vitamin D from cholesterol. Inability of human body to intake adequate amount of vitamin D leads to vitamin D deficiency and other bone-related complications, such as osteoporosis in women and cardiovascular-related complications. A large number of global population about 50% across different age groups, social strata are said to be suffering with vitamin D deficiency.
Rising demand for vitamin D3 supplements which are expected to recover the deficiency, is driving revenue growth of the market. Demand for vitamin D3 supplements is increasing due to its relatively low cost and rising awareness regarding health care products. This is expected to drive revenue growth of the industry in near future. An increase in medical referrals for these supplements is also expected to boost demand for the products ensuring a steady adoption of these supplements into medical wards. The food industry is expected to generate rapid gains in this sector, owing to rise in demand for animal and pet feed supplements which accounts for a part of the overall vitamin D3 production.
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The emergence of SARS-Cov-2 has also created immense destruction on global economy and emerging value chains with great loss of both lives and livelihood. Despite such constraints, market continues to register significant growth owing to changing lifestyle of global population and increase of upper respiratory tract infections. During the COVID-19 pandemic consumption of vitamin D3 supplements for self, as well as medically prescribed patients increased.
Increasing incentives and advertisements by government agencies are also bound to play a huge role in both promoting the products and also issuing recommendations for people to adopt a better lifestyle.
Driver: Increasing awareness regarding benefits of healthy society and expansion of pharmaceutical industry
The global vitamin D3 market is expected to grow significantly during the forecast period. Rapid expansion of pharmaceutical sector, accounting for larger revenue share in the market is expected to drive revenue growth of this market. Another key opportunity for this industry growth has been identified in cosmetic industry with major demand for more vitamin D ingredients in skin products expected to drive demand in this sector. Vitamin D3 rich skincare products not only help in synthesizing the skin but also, aids in regulating skin functions, for example, epidermal and melanocytes that regulate skin pigmentation. Application of such creams would moderately benefit individuals suffering from skin ailments such as psoriasis, eczema, and vitiligo. Studies indicate that application of such creams may cause mild to moderate relief to inflammatory ailments on the skin. Health boosters and supplements are also expected to be a constant growth factor with a large number of vitamin deficiency cases prevalent across the globe as well as an awareness regarding adopting a healthy lifestyle. Increasing cases of child malnutrition and bone-related ailments such as osteoporosis and osteomalacia are also factors for increasing adoption of vitamin D3 supplements into staple diets. Animal and pet industry has also seen increasing adoption of supplements in feed, including Vitamin D3. As vitamin D is an essential nutrient that aids in regulation and retention of calcium and phosphorus. These are key factors that are expected to increase adoption of vitamin D3 products, which in turn are expected to drive market revenue growth.
Restraint: Concerns regarding
health complications post excessive consumption of vitamin D3 supplement
Main concerns regarding adoption of various vitamin D3 products are regulatory constraints which are more stringent in some countries limiting adoption of these products, thereby restraining market revenue growth. There are also health concerns regarding excessive use of supplements which may lead to condition known as vitamin D toxicity, which would further lead to hypercalcemia and imbalance in regulation of bone metabolism. More serious health concerns include kidney disorders and formation of calcium stones in the kidney.
Product Type Outlook:
Based on product type, the global market is segmented into vitamin D3 tablets and capsules, vitamin D3 powder, vitamin D3 crystallization, vitamin D3 creams, and vitamin D3 oils. Vitamin D3 tablets and capsules segment accounted for largest revenue share in 2021. Increasing usage of vitamin D3 tablets & capsules is driving growth of the segment. Increasing adoption of a healthier lifestyle will play a huge role in highlighting need for these products. This is expected to increase production of vitamin D3 tablets to meet the demand and is thereby driving revenue growth of the segment.
Vitamin D3 powder segment is expected to expand at a steady CAGR over the forecast period. Rising usage of vitamin D3 powder is expected to boost revenue growth of the segment. Vitamin D3 powder relies on oral ingestion of supplement for intake of the essential vitamin D. It is extensively used to prevent vitamin D deficiency and other bone-related conditions. The health-related benefits of taking powdered form of vitamin D3 is better than a tablet or a capsule, owing to the faster rate of absorption within the body. The overall costs involved in production of powder is also lower than that of tablets or capsules, thereby offering a cheaper and more attractive alternative. This has led to an increasing acquisition of vitamin D3 powder by pharmacies and medical stores. This is expected to boost revenue growth of the segment.
Creams segment is expected to register a steady revenue growth rate over the forecast period. Rising demand for vitamin D3 added creams have been in demand in the market due to increase in prevalence of skin diseases such as plaque and psoriasis. These products have been extremely successful in treatment of mild-to-moderate cases thereby, mitigating requirement of any additional consultation with medical professionals for the same. Application of such creams into the body is rather simple as it is done through skin dermis. Widespread availability of these products in the market is expected to drive revenue growth. The positive impact of advertisements and influencers is also increasing the revenue share. These coupled with other factors are expected to further propel revenue growth of the segment.
Based on application, the global market has been segmented into healthcare supplements, food & beverage, pharmaceutical, animal and pet feeds, and others. Healthcare supplement segment is expected to account for a larger revenue share in global vitamin D3 market over the forecast period. Rising demand for health supplements in lives of people provides for a more health-oriented diet, thereby improving productivity and empowering an individual to pursue a disease-free lifestyle. This is expected to drive revenue growth for the segment. Rising demand for more such products and expansion through advertisements and incentives is another factor that is expected to boost growth of this segment.
Food & beverage segment is expected to register a steady revenue growth rate over the forecast period. Rising demand for healthy foods and in particular health drinks has been the key factor expected to drive growth of the segment. Introduction of on-the-go fortified drinks sachets has been already gathering a popular following, owing to their quick and easy-to-make recipes. These drinks have the added benefits of invigorating the body with vitamin D and are thus healthier than many of their counterparts in market. The relative ease of procurement of these products by consumers is also a boon and is another factor that is expected to drive revenue growth of the segment.
Pharmaceuticals segment is expected to register significantly rapid revenue growth rate over the forecast period. Rise in prevalence of skin and cognitive disorders has been major driving force to create over-the-counter drugs, such as phenobarbital, phenytoin, and others. Recent events concerning the SARS-CoV2 pandemic have also contributed to revenue growth of this segment. An increased number of cases of upper respiratory tract infections have also boosted sales of vitamin supplements, particularly of vitamin D3 as the COVID-19 pandemic has also affected people’s lifestyles, resulting in health impairments.
Based on regional analysis, the market in Asia Pacific is expected to account for largest revenue share during the forecast period. Rapid growth of pharmaceuticals as well as food industries, in which production of vitamin D3 supplements plays a crucial part, is expected to drive market revenue growth. A large population coupled with increase of vitamin D3 deficiency due to above-mentioned factors as well as rising income levels in countries in the region is driving revenue growth of the industry. Improvement of logistics in both urban and rural areas has enabled a massive overreach to even remotest parts of countries, which is contributing to market revenue growth. Rising demand for vitamin D3 products in homes for myriad applications is also driving revenue growth of the market.
The market in Europe is expected to register steady revenue CAGR over the forecast period. Rapid growth in vitamin D3 industry increases demand for more production, driving vitamin D3 market revenue growth. Robust presence of pharmaceutical manufacturers in countries in the region is expected to propel market revenue growth. Presence of a comparatively richer and health-conscious population is also a positive factor. Obligatory vitamin D fortification rules and investments into other allied industries are playing a crucial role in expansion of the industry in this region.
The market in North America is expected to expand at a rapid CAGR over the forecast period. Robust presence of key players in countries in the region is expected to drive market revenue growth. Rising demand for vitamin D3 supplements for daily consumption is boosting revenue growth of the industry. Additionally, presence of an allied pharmaceutical sector will boost the North American market revenue growth.
Competitive landscape of the global metal fabrication market is Fragmented with key players operating on global and regional levels. Key players are engaged in strategic alliances to expand their respective portfolios and gain a robust footing in the global market. Major companies in the market report include BASF SE, GSK plc, American Way Cooperation, Pfizer Inc.., Zhejiang NHU Company Ltd., Zhejiang Garden Bio-chemical High-tech Co., Ltd., Fermenta Biotech Limited, Kraft Foods Group., LycoRed Ltd., and Dishman Carbogen Amcis Limited.
- In February 2022, Following authorization by the European Union (EU) regulators, Lallemand begun broadening its usage of Lalmin vitamin D yeast in 22 consolidated food categories. This development allows for Lalmin vitamin D yeast to be used in more variety of food products than previously sanctioned. This move is bound to move in more competitors as demand for fortified food is reasonably high.
- In March 2021, Royal DSM launched ampli-D, a quick-reacting vitamin D form for health supplements. After receiving clearance from Australian regulators, it can be used as an ingredient for manufacturing of health supplements under brand name ‘Fortaro’.
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 2022 to 2030. For the purpose of this report, Reports and Data has segmented the global vitamin D3 market based on type, application, and region:
Vitamin D3 Market Report Scope
Segments covered By Type Outlook, Application Outlook, Regional Outlook
By Type Outlook
Vitamin D3 Tablets and Capsules
Vitamin D3 Powders
Vitamin D3 Crystallization
Vitamin D3 Creams
Vitamin D3 Oils
By Application Outlook
Food and Beverages
Animal and Pet Feed
Middle East & Africa
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