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Redding, California - October 23, 2024

Vitamins Market to Reach $26.03 Billion by 2031

Vitamins Market Size, Share, Forecast, & Trends Analysis by Type (Vitamins A, Vitamins B, Vitamins C, Vitamins D, Vitamins E, Vitamins K), Source (Plant, Animal), Form (Dry, Liquid), Application (Food & Beverages, Pharmaceuticals)—Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Vitamins Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the Vitamins market is expected to reach $26.03 billion by 2031, at a CAGR of 7.5% from 2024 to 2031.

The increasing demand for fortified foods, functional beverages, and dietary supplements, along with rising awareness about vitamin deficiencies and rising health expenditures, is driving the growth of the vitamins market. However, fluctuations in raw material availability and the high prices of naturally sourced vitamins restrain the market’s growth.

Additionally, the rising demand for naturally sourced products and personal care items is expected to offer growth opportunities for market players. However, counterfeiting of dietary supplements and a lack of standardized regulatory frameworks pose challenges to the market’s growth.

The rising demand for clean-label products and the growing focus on health and wellness are prominent trends in the vitamins market.

Key Players:

The vitamins market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the vitamins market are BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Roquette Freres (France), DSM-Firmenich AG (Switzerland), Lonza (Switzerland), Dishman Carbogen Amcis Ltd (India), Divi's Laboratories Ltd. (India), Fermenta Biotech Limited (India), Lycored Corp. (U.S.), Glanbia plc (Ireland), and Zhejiang Garden Biopharmaceutical Co. Ltd. (China), among others.

The vitamins market is segmented based on type, source, form, and application. The report also evaluates industry competitors and analyzes the vitamins market at the regional and country levels.

By type, in 2024, the vitamin B segment is expected to account for the largest share of the vitamins market. This segment’s large market share is primarily due to rising health awareness, increasing vitamin inadequacies, an aging population, increased consumption of processed foods, and the extensive use of vitamins in various food & beverage, personal care, and nutraceutical applications.

By source, in 2024, the plant-sourced vitamins segment is expected to account for the largest share of the vitamins market. The large market share of this segment is attributed to the growing vegan population, increasing preference for natural ingredient products, widespread availability of raw materials, higher absorption rates of plant-sourced vitamins, and rising demand for clean-label products.

By form, in 2024, the dry segment is expected to account for the largest share of the vitamins market. The large market share of this segment is attributed to the widespread availability of vitamin products in dry form, as well as their stability, long shelf life, and ease of handling.

By application, the food and beverages segment is expected to witness the highest CAGR during the forecast period of 2024—2031. This growth is driven by the rising demand for fortified food products, the increasing trend of personalized nutrition, a growing preference for functional ready-to-drink beverages, and the increasing incorporation of vitamins into food and beverages by various manufacturers.

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S., Canada), Europe (France, Germany, U.K., Italy, Spain, Poland, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, Rest of Middle East & Africa).

By geography, in 2024, Asia-Pacific is expected to account for the largest share of the vitamins market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific’s major market share can be attributed to the high demand for functional food components, the rising prevalence of diseases, the increasing expenditure on health products, the abundant availability of raw materials, and a large number of leading market players in the region.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6048

Key Questions Answered in the Report-

What is the revenue generated from the sales of vitamins?
At what rate is the global demand for vitamins projected to grow for the next five to seven years?
What is the historical market size and growth rate for the vitamins market?
What are the major factors impacting the growth of this market at the global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which type, source, form, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the Vitamins market?
Who are the major players in the Vitamins market? What are their specific product offerings in this market?
What are the recent developments in the Vitamins market? What are the impacts of these developments on the market?

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Redding, California - October 23, 2024

Vitamins Market to Reach $26.03 Billion by 2031

Vitamins Market Size, Share, Forecast, & Trends Analysis by Type (Vitamins A, Vitamins B, Vitamins C, Vitamins D, Vitamins E, Vitamins K), Source (Plant, Animal), Form (Dry, Liquid), Application (Food & Beverages, Pharmaceuticals)—Global Forecast to 2031

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