Global Vitamin API Market to Witness Robust Growth due to Rising Health Consciousness Among Consumers



Global Vitamin API Market 

 Vitamin API refers to active pharmaceutical ingredients used in vitamin supplements and nutraceutical products. Vitamin API helps in fortifying foods and beverages with essential micronutrients required by the human body. Widely used vitamin API includes vitamin A, vitamin B3, vitamin B5, vitamin B6, vitamin B9, vitamin B12, vitamin C, vitamin D, vitamin E, and vitamin K. Demand for vitamin API is growing owing to the rising prevalence of vitamin deficiencies worldwide due to changing lifestyles.

The Global Vitamin API Market Demand is estimated to be valued at US$ 451.1 MN in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Vitamin API include DSM, BASF, BOC Sciences, CSPC Pharmaceutical Group Limited, Lonza, Zhejiang Medicine, Jubilant Life Sciences, Glanbia Nutritionals, Aurorium, Northeast Pharmaceutical Group Co., Ltd, Abbott Laboratories and Fermenta Biotech Ltd. These players are focusing on expansion plans and new product launches to fulfill the growing demand.

Key opportunities in the market include development of innovative delivery systems for sustained and controlled release of vitamins. Development of vegetarian and vegan vitamin supplements using algal-based vitamin API is also expected to open new growth avenues.

Globally, the vitamin API market is expected to witness robust expansion in Asia Pacific region owing to growing health consciousness, rising disposable incomes and increasing incidence of lifestyle disease in countries like India and China. North America and Europe are also expected to retain their leading positions in the global market during the forecast period.

Market Drivers

Rising health consciousness among consumers regarding the importance of essential micronutrients and nutrients is a key factor driving the demand for vitamin API globally. Growing prevalence of vitamin deficiencies owing to changing diets, busy lifestyles and aging population is further propelling the market growth. Increased demand for functional food and beverages fortified with vitamins will continue to boost the sales of vitamin API in the upcoming years.


PEST Analysis

Political: The global vitamin API market is significantly influenced by governmental rules and regulations regarding pharmaceutical ingredient specifications, trade policies, import-export restrictions and pricing controls.

Economic: fluctuations in the global economy impact demands from end use industries and affects the production volumes and profitability of vitamin API manufacturers.

Social: Increasing health awareness and focus on preventive healthcare is driving demand for dietary supplements, which in turn propels the growth of vitamin API market.

Technological: Advancements in fermentation and purification technologies allow manufacturers to develop cost-effective production processes for various vitamin APIs. Continuous research also aids development of novel delivery systems.

The global vitamin API market in terms of value is highly concentrated in North America and Europe. This can be attributed to growing health consciousness among consumers as well as stringent regulations regarding vitamin fortification of food products in these regions. The dietary supplement industry is well established in the United States and countries of Western Europe.

The Asia Pacific region is poised to witness the fastest growth in the global vitamin API market during the forecast period. This can be majorly attributed to rising disposable incomes, growing middle class population and their increasing willingness to spend on health and wellness products in emerging economies such as China and India. Rapid urbanization and increasing awareness about preventive healthcare are further supporting market growth in Asia Pacific.

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more