DUBLIN--(BUSINESS WIRE)--The "Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), IU Strength and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global vitamin D market is estimated at USD 1.1billion in 2020 and projected to grow at a CAGR of 7.0%, to reach USD 1.6 billion by 2025.
The vitamin D market is driven by the growth in awareness of vitamin D deficiency, a rise in incidences of osteoporosis in women, and an increase in cases of malnutrition in children. The rising number of government initiatives and awareness campaigns is expected to create new growth opportunities for the growth of the vitamin D market.
The scarcity of ingredients, coupled with the high cost, are the major restraints of the market. There are very few natural foods that provide vitamin D, increasing the risk of deficiency of vitamin D among the consumers. Vitamin D and several other vitamins face the problem of raw material unavailability, as a result of which there is an increase in the price. This high price stands to be one of the biggest challenges for the growth of sales of vitamins.
Impact of COVID-19 on the current market size and forecast
Covid-19 is expected to boost the demand at a much higher rate for vitamin D ingredients in the global market. Several clinical studies and researches are being carried out with regard to identifying a significant correlation between Covid-19 and vitamin D. For instance, a study was carried out by North-western University and published on 7th of May 2020, in which the researchers concluded that vitamin D strengthens innate immunity and prevents overactive immune responses. Its trials and test results prove that patients with severe deficiency of vitamin D are twice as likely to face major complications.
Vitamin D plays a vital role not just in enhancing the human innate immune systems, but also prevents the immune system from becoming dangerously overactive. As a result of which, having healthy levels of vitamin D helps the patient against severe complications, including death, from Covid-19. Thus, this Covid-19 pandemic is expected to boost the demand for vitamin D at a much higher rate in the global market. However, disruption of global logistics and supply chain can be a restraint for this market.
Market Dynamics
Drivers
- Increase in the Prevalence of Vitamin D Deficiencies and Impact of Covid-19 Expected to Boost Demand
- Rise in Preference of Fortified Food Among Consumers
- Increase in Awareness Regarding Bone and Joint Health
Restraints
- Scarcity of Ingredients Coupled With High Cost
Opportunities
- Increase in Demand for Feed Fortification
- Usage of Vitamin D in Personal Care Products
Challenges
- Regulatory Factors & Standardization
Companies Profiled
- Koninklijke Dsm N.V
- Zhejiang Garden Biochemical High-Tech Co., Ltd
- Zhejiang Xinhecheng Co., Ltd.
- Fermenta Biotech Ltd.
- Xiamen Jindawei Vitamin Co., Ltd.
- Basf
- Dishman Group
- Taizhou Haisheng Pharmaceutical Co., Ltd.
- Zhejiang Medicine Co., Ltd.
- Glanbia Plc.
- PHW Group
- Bio-Tech Pharmacal
- Divi'S Nutraceuticals
- Synthesia
- Hangzhou Think Chemical Co Ltd
- Sichuan Neijiang Huixin Pharmaceutical Co Ltd.
- Kingdomway Nutrition Inc
- Mckinley Resources Inc
- New Gen Pharma Inc
- Taizhou Hisound Pharmaceutical Co Ltd
- Pharmavit
- Tocris Bioscience
- Lycored
- Stabicoat Vitamins
- Spectrum Chemical Mfg Corp
For more information about this report visit https://www.researchandmarkets.com/r/jfj4bw
