DUBLIN, May 15, 2023 /PRNewswire/ — The “Global Vitamin D Market 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global vitamin D market is expected to witness a growth trend at a CAGR of 7.51% during the forecast period 2023-2030.
Factors such as the growing use of dietary supplements, multiple applications of vitamin D across sectors, and the increasing popularity of fortified food products have accelerated the market’s growth.
Other than this, the rising popularity of vitamin formulations and nutricosmetics, coupled with growing demand for feed and pet food, creates opportunities for the vitamin D market globally. However, risks pertaining to excessive intake and high costs of vitamin D impede the global market’s scope for growth.
Regional Outlook
The global vitamin D market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
Globally, North America is expected to witness the fastest growth in the vitamin D market over the forecast period. Our analysis indicates the market will be driven by the rising demand for functional food and the high prevalence of vitamin D deficiency.
In the US and Canada, the fortification of dairy products is expected to elevate in the upcoming years, which will surge the inclusion of vitamin D supplements in these products. Hence, as stated above, these factors are widening the growth prospects for the vitamin D market across the region.
Market Dynamics
Drivers
- Growing Use of Dietary Supplements
- Multiple Applications of Vitamin D in Various Industries
- Increasing Popularity of Fortified Food Products
- Rising Occurrence of Vitamin D Deficiency
Challenges
- Strict Regulations on Fortification of Food
- Risks Related to Excessive Intake of Vitamin D
- Unavailability of Raw Materials and High Cost
Opportunities
- Growing Popularity of Vitamin Formulations and Nutricosmetics
- Rising Cases of Bone and Joint Health Issues
- Numerous Applications of Vitamin D in the Pharmaceutical Industry
- Fortification and Microencapsulation of Vitamin D
- Rising Demand for Feed and Pet Food
- Government Initiatives to Encourage the Intake of Vitamin D
Companies Mentioned
- BASF SE
- Fermenta Biotech Limited
- Koninklijke DSM NV
- Zhejiang Garden Biochemical High-Tech Co. Ltd.
- Dishman Carbogen Amcis Ltd.
- Synthesia AS
- Vitablend
- Newgen Pharma
- Lycored Ltd.
- Adisseo
For more information about this report visit https://www.researchandmarkets.com/r/hbs239
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SOURCE Research and Markets
