LONDON--(BUSINESS WIRE)--Increasing health consciousness among consumers, particularly the younger population, are focusing on improving their health and wellness. Furthermore, the rising incidences of obesity and other related diseases are making consumers opt for food and beverage products with low fat and rich minerals. In addition, Technavio has further analyzed that the rising demand from the aging population will also drive the demand for vitamins market during the forecast period.
According to Technavio’s research report, the vitamins market is segmented by food and beverages, pharmaceuticals and cosmetics, and feed additives as key applications. Food and beverages is expected to account for over 42% share by 2021 with a year over year growth of 22%. With consumers including more vitamins and mineral-rich food products in their daily diets as preventive measures against various diseases, demand for fortified food and beverage products will increase, in turn, driving the vitamins market growth during the forecast period.
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North America led the market in 2019 with a 40% share in the market and will continue to lead the vitamins market in 2021 witnessing an incremental growth of 39% during the forecast period. Consumers in the region are adopting healthier lifestyles and shifting their focus from treatment to prevention by increasing their intake of essential nutrients. In addition, the market in North America is also being supported by the growing number of new product launches and regular product innovation.
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- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Food and beverages - Market size and forecast 2019-2024
- Pharmaceuticals and cosmetics - Market size and forecast 2019-2024
- Feed additives - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Archer Daniels Midland Co.
- BASF SE
- Bluestar Adisseo Co. Ltd.
- Lonza Group Ltd.
- Nestlé SA
- Pfizer Inc.
- The Procter & Gamble Co.
- Unilever Group
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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