Global Vitamin A Market Shows Robust Growth Fueled by Health and Wellness Trends
Discover the latest trends and growth drivers in the global vitamin A market, fueled by increasing consumer demand for skincare products and fortified foods
VANCOUVER, BC, CANADA, June 17, 2024 /EINPresswire.com/ -- The global vitamin A market size was USD 540.2 Million in 2022 and is expected to register a rapid revenue CAGR of 5.0% during the forecast period. The global market for vitamin A is experiencing significant growth, driven by a convergence of factors including increasing consumer spending on skincare products, rising awareness of health benefits, and growing demand for fortified foods and supplements.
Key Drivers of Market Growth: The vitamin A market is expanding rapidly, propelled by heightened consumer expenditure on premium skincare and haircare products. Vitamin A, known for its beneficial effects on skin and hair, is increasingly incorporated into cosmetics due to its antioxidant properties and role in promoting skin health.
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Moreover, there is a rising preference for natural products, with companies like DSM and Givaudan introducing bio-based and natural alternatives to meet consumer demand for sustainability and quality in personal care and cosmetic sectors.
Nutritional deficiencies, exacerbated by unhealthy eating habits, are also contributing to market growth. The World Health Organization reports a substantial global population suffering from vision impairments and other health issues linked to inadequate vitamin A intake, bolstering the market for fortified foods and supplements.
Challenges and Restraints: Despite its growth trajectory, the market faces challenges such as stringent government regulations and concerns over vitamin A toxicity. Overconsumption of vitamin A can lead to adverse effects, highlighting the need for careful regulation and consumer education.
Market Segment Insights: The market is segmented based on source (natural vs. synthetic), application (food & beverages, pharmaceuticals, cosmetics, animal feed), and end-use (adults, children, pregnant women). Natural sources dominate the market due to increasing consumer preference for plant-based products, while synthetic sources continue to see moderate growth.
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The food & beverages segment holds a significant share, driven by the fortification of processed foods with essential nutrients like vitamin A to compensate for nutrient loss during processing. Similarly, the animal feed segment is expanding steadily, supported by the role of vitamin A in enhancing animal health and productivity.
Regional Outlook: Geographically, North America and Europe lead the vitamin A market, owing to high consumer awareness and a robust healthcare infrastructure. However, Asia-Pacific is witnessing rapid growth, attributed to increasing disposable income and rising health consciousness among consumers.
Future Prospects: Looking ahead, the vitamin A market is poised for continued growth, driven by ongoing innovations in product development and increasing awareness about the health benefits of vitamin A across various demographics.
Vitamin A Top Companies and Competitive Landscape
The global vitamin A market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing a more effective vitamin A product in the market.
Thorne
Pharmavite LLC.
Care/of
Life Extension
Vitacost
Nordic Naturals
HUM Nutrition Inc.
NOW Foods
Archer-Daniels-Midland Company
Fenchem
Royal DSM
Deep Visions Multimedia GmbH
Adisseo
Foodchem International Corporation
Divi's Laboratories Limited.
Parkacre
Kirkman
Farbest Brands
CELLMARK AB
CAPTEK Softgel International Inc
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Vitamin A Latest Industry News
In July 2022, BASF announced to increase its global formulation capacity at its Verbund location in Ludwigshafen. The cutting-edge facility, which is fully integrated into the site's vitamin manufacturing, will support, and extend the production of high-quality vitamin A powder product for the animal nutrition industry.
In May 2022, DSM and Firmenich joined forces through a business combination agreement, forming ’DSM-Firmenich.’ This partnership aims to become a top creation and innovation partner in nutrition, beauty, and well-being. It unites Firmenich's Perfumery and Taste businesses with DSM's Health and Nutrition portfolio, creating a new company with four distinct, complementary businesses, all backed by exceptional scientific expertise.
Vitamin A Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global vitamin A market on the basis of source, demographics, application, and region:
Source Outlook (Revenue, USD Million; 2019-2032)
Natural
Synthetic
Demographics Outlook (Revenue, USD Million; 2019-2032)
Children
Adults
Pregnant Women
Application Mode Outlook (Revenue, USD Million; 2019-2032)
F&B
Dairy
Bakery and Confectionery
Beverages
Baby Food
Other Application
Pharmaceutical
Cosmetics
Animal Feed
Regional Outlook (Revenue, USD Million; 2019–2032)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa
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