Path to Prosperity: Vitamin D Ingredients Market Eyes US$ 2,780.3...

Path to Prosperity: Vitamin D Ingredients Market Eyes US$ 2,780.3 Million by 2033

نشر بتاريخ 2024-05-06 07:29:31

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According to an industry report, the vitamin D ingredients market is expected to generate US$ 1560 million by 2023. Estimates indicate the market is predicted to reach US$ 2,780.3 million between 2023 and 2033, representing a CAGR of 5.9%. Increasing consumer demand for health and wellness is prompting cereal manufacturers to improve nutrition content. With pharmaceutical companies increasing their efforts in promoting vitamin D products in the market, the global market for vitamin D ingredients is expected to grow in the near future.

Vitamin D has been popularized as an immune-boosting supplement for protection against COVID-19 in recent years. Researchers found that taking vitamin D3 or D2 supplements reduced infection risk by 20% to 28% and death risk by 33% and 25%, respectively, according to a November study in Nature’s Scientific Reports.

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A report by the United States Bone and Joint Health Initiative states that one in two Americans suffer from musculoskeletal disorders each year, which results in an estimated USD 213 billion in lost income due to treatment costs and lost work time. Approximately 126.6 million American adults (one in two) suffer from musculoskeletal conditions, the same percentage as those living with chronic lung and heart diseases.

Key Takeaways from the Market Study

Vitamin D Ingredients are expected to increase by 6% CAGR between 2022 and 2032.
By 2032, Vitamin D Ingredients are expected to be worth US$ 2686.3 million.
With 14.1% of the market share in 2022, the United States dominated the Vitamin D Ingredients market.
China’s growth over the past few years has been strong, contributing to a CAGR of 4.4% in 2022.
Estimates indicate that the Japanese market accounted for 7% of the global market in 2022.
The German market for Vitamin D Ingredients accounted for 3.4% of the global market share in 2022.
The United Kingdom is represented 4.8% of Vitamin D Ingredients sales by 2022.
According to the market report, Vitamin D Ingredients accounted for 2.4% of the market between 2018 and 2022.

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Competitive Landscape

Vitamin D Ingredients businesses are expanding through partnerships and collaborations. Research and development, new product development, geographic expansion, and partnerships are key strategies that vitamin D Ingredients market players use to increase their customer base.

In May 2023, Koios, a leading producer of better-for-you beverages, launched a new, innovative line of gummies. Gummy products infused with essential vitamins are made with clean, natural ingredients, aligning with the Company’s commitment to promoting health and wellness. Efforts have been made to meet the high quality and taste standards of this new product offering.
In March 2023, Akums Drugs and Pharmaceutical Limited will introduce a series of nutraceutical gummies for health and wellness. In addition to the above products, there is also a line of multivitamins and immunity treatments for adults, in addition to kids multivitamins and sleep support, immunity therapies, hair care (Biotin), vitamin D, UTI gummies, gut health, and many others.

Know More about What the Vitamin D Ingredients Market Report Covers

Future Market Insights offers an unbiased analysis of the global vitamin D ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the Vitamin D Ingredients market, the market is segmented based on product type, source, application, and industry type across six major regions.

Market Segmentation of Vitamin D Ingredients

By Product Type: