Vitamin D Market by Analog (Vitamin D3, Vitamin D2), Source (Plant-sourced, Animal-sourced), Form (Dry, Liquid), Application (Pharmaceuticals, Food & Beverages, Feed & Pet Food, Personal Care) — Global Forecast to 2030

The Vitamin D Market is projected to reach $2.43 billion by 2030, at a CAGR of 7.1% during the forecast period 2024–2030. The growth of this market is mainly driven by growing demand for vitamins for enrichment or fortification of food & beverages, growing prevalence of vitamin D deficiency, growing health & wellness trend, growing consumer awareness about the adverse effects of insufficiency of vitamin D, the rise in incidences of osteoporosis in women, and growing demand for dietary supplements. Moreover, growing demand from the personal care and cosmetics industries is further expected to provide opportunities for stakeholders operating in this market. However, stringent regulations related to the fortification of food and feed products is expected to impede this market's growth to a certain extent.

The Impact of COVID-19 on the Vitamin D Market

The COVID-19 pandemic adversely hit many economies globally. Complete lockdowns and movement restrictions were imposed to curb the spread of COVID-19. Many industries have been impacted, including food & beverages, animal feed & pet food, personal care, and supplements.

The outbreak of the COVID-19 pandemic has positively impacted the growth of the vitamin D market. The emergence of the deadly virus resulted in increased consumer awareness of better health and high immunity. As a result, people started buying nutritional products, including vitamin D supplements, in bulk quantities. The demand for vitamin D3 soared due to customers' tendency to buy in quantity because of the lockdown-induced trend. This fueled the launch of numerous products to cater to the rising need, and the manufacturers were encouraging people to buy their products from online platforms to stay safe in their homes. 

The World Health Organization (WHO) studies found that vitamin D levels may help the immune system fight off COVID-19. Vitamin D supplements could help as a preventive or therapeutic agent for COVID-19. Thus, the consumption of vitamin D ingredients supplements has rapidly increased during the spread of COVID-19. Moreover, the online sales of vitamin D supplements were not impacted during the lockdown. The stakeholders operating in the vitamin industries experienced a rapid increase in demand for vitamin D in 2021 and 2022 due to its health benefits.

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Growing Preference for Fortified Foods Fuels the Growth of the Vitamin D Market

Nowadays, many health-conscious people are looking for not only nutritionally enriched foods but also those that provide essential health supplements to prevent possible diseases and improve physical and mental well-being. Rising incidences of various types of chronic disorders like rickets, which are caused by deficiency of vitamin D along with poor dietary habits of consumers, is another factor likely to boost the demand for fortified foods. The vitamin D industry also benefits from consumers' increasing willingness to spend money on fortified foods in emerging markets.

People are more health conscious and are ready to spend more on healthy diet options. Also, increasing awareness regarding this encourages consumers to incorporate fortified food products into their diets. Thus, the fortification of food products with vitamins is rapidly gaining traction as consumers in developing and developed regions prefer products such as functional beverages, dietary supplements, and fortified processed foods, which offer additional health benefits.

In addition, the support of government agencies has also encouraged the fortified foods sector. For instance, the Food and Agricultural Organization (FAO) and the World Health Organization (WHO) have recognized food fortification as one of the crucial strategies for eradicating pervasive malnourishment, particularly in developing nations. Vitamin D-fortified milk helps lower the incidence of rickets in young children. Thus, the increase in consumption of such products is expected to drive the growth of the global vitamin D market.

Key Findings in the Vitamin D Market Study:

The Vitamin D3 Segment to Dominate the Overall Vitamin D Market

Based on analog, the vitamin D market is segmented into vitamin D2 and D3. In 2024, the vitamin D3 segment is expected to account for the larger share of the global vitamin D market. The large share of this segment is mainly attributed to the growing awareness regarding its several applications and the continuously rising number of rheumatoid arthritis patients and many other bone-related disorders in people. In addition, vitamin D3 is highly beneficial to the person suffering from bone-related diseases because it gives strength to the bones and many other benefits.

However, the vitamin D2 segment is projected to register the highest CAGR during the forecast period of 2024–2030 owing to its growing importance in treating various calcium disorders & parathyroid disorders. Moreover, rising incidences of vitamin D deficiency, demand for a balanced diet, rising preference towards vitamin D supplements & foods, and the high prevalence of chronic kidney diseases drive the growth of this segment.

In 2024, the Plant-sourced Segment is Expected to Grow at the Highest CAGR during the Forecast Period

Based on source, the vitamin D market is segmented into plant-sourced and animal-sourced. The plant-sourced segment is projected to register the highest CAGR during the forecast period of 2024–2030 owing to rising consumer preferences for plant-based products, growing vegan population, increasing intolerance for animal-derived ingredients, easy availability of raw materials, and comparatively lower cost of production.

In 2024, the Dry Segment to Dominate the Vitamin D Market

Based on form, the vitamin D market is segmented into dry and liquid forms. In 2024, the dry form segment is expected to account for the larger share of the global vitamin D market. The large market share of this segment is mainly attributed to the higher demand for dry form due to its benefits, such as stability & high shelf life and ease of handling, transportation, and storage. In addition, increasing demand for vitamin D in powder and capsule forms for its high solubility.

However, the liquid form is projected to register the highest CAGR during the forecast period of 2024–2030 owing to its rising usage in the food and beverage applications & pharmaceuticals industry. The liquid form segment is mainly used in food supplements to boost immunity, maintain cardiovascular health, and support bone strength.

In 2024, the Pharmaceuticals Segment to Dominate the Overall Vitamin D market                                           

Based on the application, the vitamin D market is segmented into pharmaceuticals, food & beverages, feed & pet food, and personal care. In 2024, the pharmaceuticals segment is expected to account for the largest share of the global vitamin D market. The large market share of this segment is mainly attributed to the rising usage of vitamin D for the composition of various medicines. In addition, an extensive rise in the number of people suffering from vitamin D deficiency across the globe is further supporting the growth of this market.

However, the food & beverages segment is projected to register the highest CAGR during the forecast period of 2024–2030. The growth of this segment is driven by the increasing demand for fortified foods, rising consumer awareness regarding the health benefits of vitamin D, and growing health and wellness trend.

Asia-Pacific: The Largest Regional Market for Vitamin D in 2024

Based on geography, the vitamin D market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the vitamin D market owing to the presence of key manufacturers, easy availability of raw materials, growing demand for functional food ingredients, rising patients of rickets and chronic disorders, and an increase in disposable incomes. In addition, the high vitamin D deficiency among the people further supports this market's growth. For instance, the population in Malaysia has a high deficiency of vitamin D compared to other countries worldwide due to the high prevalence of various non-communicable diseases in the country. According to Malaysia’s National Health survey, the prevalence of diabetes mellitus is increasing rapidly in Malaysia.

Key Players

The key players operating in the vitamin D market include BASF SE (Germany), Dishman Carbogen Amcis Ltd (India), Divi’s Laboratories Ltd. (India), Fermenta Biotech Limited (India), Koninklijke DSM N.V. (The Netherlands), Lycored Corp. (Israel), NewGen Pharma Inc. (U.S.), Synthesia a.s. (The Czech Republic), Taizhou Hisound Pharmaceutical Co., Ltd. (China), Zhejiang Garden Biochemical High-tech Co., LTD (China), and Zhejiang Medicine Co., Ltd. (China).

Scope of the Report:

Vitamin D Market, by Analog

• Vitamin D3
• Vitamin D2

Vitamin D Market, by Source

• Plant-sourced
• Animal-sourced

Vitamin D Market, by Form

• Liquid Form
• Dry Form

Vitamin D Market, by Application

• Pharmaceuticals
• Food & Beverages
• Feed & Pet Food
• Personal Care

Vitamin D Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • Italy
  • U.K.
  • Spain
  • Rest of Europe 
• Asia-Pacific (APAC)
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC (RoAPAC) 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America (RoLATAM) 
• Middle East & Africa

Key Questions Answered in the Report: