LONDON–(BUSINESS WIRE)–The global vitamins market size is poised to grow by USD 24.13 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 7% during the forecast period. Request Free Sample Pages
Read the 134-page research report with TOC on “Vitamins Market Analysis Report by application (food and beverages, pharmaceuticals and cosmetics, and feed additives) and geography (the Americas, APAC, and EMEA) 2019 – 2023”.
The market is driven by the aging population. Also, the increasing health consciousness among consumers is anticipated to further boost the growth of the vitamins market.
The aging population is driving the growth of the global vitamins market. The aging population is becoming increasingly aware and concerned about the onset of degenerative diseases such as Parkinson’s and Alzheimer’s. This encourages them to take vitamins such as vitamin D, vitamin C, vitamin B12, calcium, iron, protein, and omega-3 to delay or prevent the onset of degenerative diseases. Moreover, the high spending power of baby boomers boosts the demand for regular intake of vitamin supplements which helps them to lead fit and healthy lifestyles post-retirement.
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Major Five Vitamins Companies:
Archer Daniels Midland Company
Archer Daniels Midland Company operates business through various segments, namely agricultural services, corn processing, oilseeds processing, wild flavors and specialty ingredients, and others. The company is the largest producer of natural-source vitamin E and offers a broad range of vitamin E products.
BASF operates its business through various segments, which include chemicals, performance products, functional materials and solutions, agricultural solutions, and oil and gas. The company is a leading producer of vitamin A, vitamin D3, vitamin E, vitamin B2, and vitamin B5.
Bluestar Adisseo has only one operating segment and offers all its products under the health and nutrition segment. The company offers vitamin supplements for animal feed under the brand name Microvit.
DSM has business operations under four segments, namely nutrition, materials, innovation center, and corporate activities. The company offers various vitamins such as vitamin A, vitamin D, vitamin E, vitamin K, and others.
Lonza is engaged in mammalian manufacturing, chemical and microbial manufacturing, clinical development, emerging technologies, and bioscience solutions. The company also offers consumer health, coatings and composites, agro ingredients, and water care. The company offers vitamin B3 under the brands Niacin and Niacinamide.
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Vitamins Application Outlook (Revenue, USD Million, 2019 – 2023)
- Food and beverages
- Pharmaceuticals and cosmetics
- Feed additives
Vitamins Regional Outlook (Revenue, USD Million, 2019 – 2023)
- The Americas
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Related Reports on Consumer Staples are:
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