Asia Pacific is estimated to dominate the vitamin D market in coming years

The Vitamin D Market is estimated to account for about USD 1.1 billion in 2020 and is projected to reach a value of nearly USD 1.6 billion by 2025, growing at a CAGR of 7.0% from 2020 to 2025.

The vitamin D market has been growing in accordance with the rise in demand and consumption of feed around the world. The feed industry is witnessing an upward trend in demand for enriched feed products, which supports the demand for nutritional additives such as vitamin D. The key driving factors of the vitamin D market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused by vitamin D deficiency. Food fortification is one of the major trends, which is fueling the vitamin D market in the functional food & beverage industry.

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Asia Pacific is estimated to account for the largest market share in the vitamin D market in 2020.This high growth rate in the Asia Pacific region is coupled with growing investments by pharma and animal feed manufacturers for expansions. Also, the region is witnessing a huge demand for vitamin D3.

The deficiency of vitamin D is widespread in Asia Pacific, particularly in South and Southeast Asia. Rickets (a deformity due to “soft bones”) is very common in China and is a result of poor vitamin D consumption. Furthermore, the rise in income levels and significant consumer demand for nutritional & healthy products are expected to provide promising prospects for the growth and diversification of the region’s functional food & beverage products, in turn, leading to growth in the consumption of vitamin-infused products, and thereby driving the market growth.

China and India are two of the most favorable markets for vitamin D manufacturers for expansion, due to the rising demand for animal feed, fortified food products, and easy availability of raw materials. It has become a key destination for manufacturers of vitamin D supplements and pharmaceutical product companies such as the Alkem Laboratories (India), Cadila Pharmaceuticals (India), Abbott Laboratories (US), and Sanofi S.A (France).

According to the 2019 Alltech Global Feed Survey, Asia Pacific is home to several of the top 10 feed-producing countries, including China, India, and Japan; and accounted for more than 36.0% of the world’s feed tonnage. China dominated as the top feed-producing country in the world, with 187.9 million metric tons (207.1 million tons). This region has also witnessed significant growth in manufacturing activities due to the support of the local governments. Increasing investments in R&D is also one of the factors driving the market in Asia Pacific.

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The key players in the vitamin D market include Koninkljike DSM N.V (The Netherlands),  Zhejiang Garden Biochemical High-Tech Co Ltd (China), Zhejiang Xinhecheng Co Ltd (China), Fermenta Biotech Ltd (India), Xiamen Jindawei Vitamin Co Ltd (China), BASF Se (Germany), Dishman Group (India), Taizhou Haisheng Pharmaceutical Co Ltd (China), Zhejiang Medicine Co Ltd (China), Glanbia PLC (Ireland), PHW Group (Germany), Bio-Tech Pharmacal (US), Divis Nutraceutical (India), Synthesia (CZE), Hangzhou Think Chemical Co Ltd (China), Sichuan Neijiang Huixin Pharmaceutical Co Ltd (China), Kingdom Nutrition Inc (US), McKinley Resources Inc (Texas), New Gen Pharma Inc (US), Taizhou Hisound Pharmaceutical Co Ltd (China), Pharmavit (The Netherlands), Tocris Bioscience (UK), Lycored (Israel), Stabicoat Vitamins (India), and Spectrum Chemical Mfg Corp (US)

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