Significant growth has been observed in consumption of healthy food. This has become a trend in the aging population which is driving the demand for vitamins and derivatives in food. Emerging economies like India, China and Brazil significantly contribute in consumption of food products laden with vitamins and its derivatives owing to the importance of vitamins for healthy functioning of body. Wide range of vitamin-rich products are available in market a result of fast-paced modern life. Enhanced vitamin supplement’s consumption in order to improve physical appearances positively influence the global demand for vitamins and derivatives. Latest Fact.MR report predicts the global vitamin and derivatives market to exhibit healthy growth in the coming future. The concept of healthy life is trending and has become mainstream. This trend also fuel the growth of global market. Fact.MR reports projects that global market will grow at 3.5% CAGR the period 2017-2026.
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Therapeutic use drives market
Drugs for treatment of different metabolic syndrome diseases contain vitamins and its derivatives. Therapeutic potential of vitamins is acknowledged globally. They have the potential to prevent and cure different chronic diseases. Preventive products in health care domain are highly demanded. Such products are consumed by the general population to fulfill the nutritional requirements of the body. Vitamins and derivatives are available in different form that are tablets, powder, gummies, and capsules, oral liquid and soft gels. Many of these forms are even allowed to be consumed without any prescription or approval from any medical professional. A slew of factors including growing old age population, changing lifestyle and increased spending significantly contribute in the sale of global vitamins and derivatives market.
Global vitamins and derivatives market can be geographically segmented into various regions including North America, Europe, APEJ, Latin America, japan and MEA. Fact.MR report highlights North America as the region that holds the potential to lead the global market in the coming future. Its market is projected to expand at healthy growth rate in the years to come. Supplements containing vitamin and derivatives have huge consumption in North America. These supplements are eyed as the medium to gain the nutrition equivalent to balanced diet.
Food and Beverages sector leads in consumption
Different vitamins in vitamins and derivatives market are vitamin B, vitamin D, vitamin E, vitamin C and vitamin A. Vitamin B amongst all other vitamins is used at maximum. Different items like function food, dietary supplements and cosmetics utilize Vitamin B in its manufacturing process. Vitamin B is known to generate one-fourth of the vitamins and derivatives market revenue. It is estimated that US$ 7,355.2Mn will be the sale figure for global vitamin and derivatives market by 2026.
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Food and beverages industry leads in consumption of vitamin and derivatives. This lead is on the backdrop of growth in consumer preference towards food and beverages that are healthy and are high in nutrition. Major stake holders in global market are Amway, ADM, GlaxoSmithKline,, Pfizer, Innovations, Inc., CSPC Pharmaceutical Group Limited, Adisseo France S.A.S, Herbalife and Glanbia.