Global Vitamins Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast To 2022 – by Credence Research
The market is witnessing growth on the back of increasing
consumer health consciousness and health benefits associated with it. But to
increasing government regulation is acting as the one of the major barriers in
the market growth. However, in future rising demand from different end user
industries and development of new products will promote growth in this market.
Browse full report at(Vitamins Market
- Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022) http://www.credenceresearch.com/report/vitamins-market
Vitamins are of two type’s water
soluble and fat soluble. Water soluble vitamins are easily absorbed into the
body whereas fat soluble vitamins require bile acids to help absorb them. Fat
soluble accounted for major share of the pie when compared to their water
soluble counterparts. In fat soluble vitamins all the vitamins B are projected
to account for the major share and expected to maintain their dominance over
the next six years. On the other hand vitamin C is projected to grow at the
fastest rate of 7.6% from 2015 to 2022. In fat soluble vitamins, Vitamin D is
projected to account for the major share of the pie of 37% in 2014 but in
future growth is projected to be highest from Vitamin E segment. Vitamin E is
projected to grow at a rate of 12.6% for next six years growing on the back of
rising demand from the personal care and animal feed industry.
By applications, food and beverages
segments accounts for more than 50% share of the market pie in 2014 and
projected to maintain its dominance in future also. In future, personal care
segment is projected to grow at the fastest rate of 9.7% during the forecast
period.
By geography, North America is the
largest market with the share of 37%. U.S. is the largest market for vitamins
worldwide. But in future Asia Pacific will be the fastest growing market. Asia
Pacific will witness growth from rising demand from economies such India, China
and Japan. Row is also considered to be the one of the potential market
for vitamins in future and is projected to grow at a rate of 9.1% during the
forecast period. The region’s continued economic success in the primary driver.
Europe is also one of the largest markets.
Companies such as BASF SE, ADM, DSM,
Pfizer and NBTY Inc are some of the major players in this market. They together
accounted for more than 35% share of the market in 2014.
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