CHICAGO, May 19, 2019 /PRNewswire/ -- According to the new market research report "Vitamin D Market by Analog (Vitamin D2, Vitamin D3), Form (Dry, Liquid), Application (Functional Food & Beverage, Pharma, Feed, and Personal Care), End User (Children, Adult, and Pregnant Women), Iu Strength and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Vitamin D market is estimated to account for about USD 1.1 billion in 2019 and is projected to reach a value of nearly USD 1.7 billion by 2025, growing at a CAGR of 7.0% from 2019 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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By analog, the vitamin D3segment is estimated to account for the largest share in the vitamin D market in 2019
Among the analogs in the vitamin D market, vitamin D3 was the dominant analog. Vitamin D3 is an essential micronutrient required for the maintenance of the bones and the aversion of osteoporosis and rickets. Vitamin D3 has several functions and has its application in the food, feed, healthcare, and personal care industries. The use of vitamin D3 in the food & beverage industry is closely regulated to prevent the possibility of an overdose since excessive consumption is associated with toxicity.
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The vitamin D market is witnessing strong growth due to an increase in the prevalence of vitamin D deficiencies
The prevalence of vitamin D deficiencies in several countries is one of the major factors fueling the growth of vitamin D market. According to the estimates of the Centers for Disease Control and Prevention (CDC), vitamin D deficiency is prevalent in 8.0% of Americans. Deficiency of vitamin D causes rickets in children and osteoporosis in adults. It has also been associated with common cancers, hypertension, and infectious diseases. Children need vitamin D for the development of skeletal structure and tooth enamel. The deficiency of vitamin D in infants can have adverse consequences such as growth failure, ethargy, irritability, rickets, and a predisposition to respiratory infections during infancy.
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Asia Pacific is estimated to dominate the vitamin D market in 2019
Asia Pacific is estimated to account for the largest market share in the vitamin D market in 2019.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.
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.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the Vitamin D market. The key players in the vitamin D market include Zhejiang Garden Biochemical High-Tech Co.,Ltd (China), Koninklijke DSM N.V. (Netherlands), Zhejiang Xinhecheng Co., Ltd. (China), Taizhou Haisheng Pharmaceutical Co., Ltd. (China), Xiamen Jindawei Vitamin Co., Ltd. (China), Fermenta Biotech Ltd. (India), Zhejiang Medicine Co., Ltd.(China), BASF (Germany), and Dishman Group (India).
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