Increase in demand for functional and nutritionally enriched processed food products is expected to drive market growth during the forecast period of 2018 to 2023.

Pune, India, February, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global vitamins market.

Market Highlights

Vitamins are the essential micronutrients required by the organisms to maintain the normal body functioning. The increased prevalence of diseases and disorders caused by vitamin deficiencies are the major driver for increased consumption of vitamin supplements across the globe. Along with increased focus on preventive health care, and demand for highly nutritional fortified foods has resulted in increased demand for vitamins. Along with this, the focus to increase growth and performance of the animals has also increased its demand in animal feed.

Based on type, the global vitamins market has been segmented into Vitamin B, Vitamin C, Vitamin E and Others. The Vitamin B segment accounted for the maximum market share in 2018 due to increased demand for Vitamin B6 and B3 fortified foods. This has also encouraged manufacturers to expand their production capacities, thus boosting the market growth. However, the Vitamin C segment is expected to grow at a higher CAGR during the forecast period owing to increasing awareness about the multiple benefits provided by vitamin C such as faster healing of wounds and maintenance of skin, eye health, and immune system provides an opportunity to this segment to grow.

The global vitamins market has been segregated, by application, into healthcare products, food & beverages, feed, and others. The healthcare products segment is expected to dominate the global vitamins market during the assessment period. However, food & beverages segment is projected to grow at the highest CAGR from 2018 to 2023. The rising popularity of fortified food & beverages and the continuous new product launches are boosting the growth of the vitamins market in the food & beverage industry.

The global market for vitamins has also been classified, by source, as natural and synthetic. The synthetic segment is expected to dominate the market; however, the natural segment is expected to register the highest CAGR during the forecast period. The increasing demand for natural products is driving the demand for naturally sourced vitamins during the forecast period.

Regional Analysis

On the basis of region, the global vitamins market has been segmented by North America, Europe, Asia-Pacific, and RoW. Asia-Pacific is expected to dominate the global vitamins market owing to increased health consciousness among the consumers. Moreover, the livestock rearers are becoming more conscious regarding the importance of adequate nutrition and essential micronutrients like vitamins for increased growth and performance of the animals, thus boosting the demand for vitamins in the region.

The vitamins market in Asia-Pacific is expected to grow rapidly due to the increasing awareness about the benefits of vitamins, along with increased focus on preventive health care in the region is contributing the growth in the vitamins market during the forecast period.    

Key Players

Some of the key players in the global vitamins market are Koninklijke DSM N.V. (The Netherlands), Glanbia PLC (Ireland), Archer Daniels Midland Company (US), BASF SE (US), Lonza Group (Switzerland), Vitablend Nederland B.V. (The Netherlands), Sternvitamin GmbH & Co. Kg (Germany), Farbest-Tallman Foods Corporation (US), Adisseo France SAS (China), and Watson Inc. (US).

Access Report Details @ https://www.marketresearchfuture.com/reports/vitamins-market-1331

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