Vitamin Ingredients Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Vitamin Ingredients Market is segmented By Application (Pharmaceuticals, Personal Care Products, Dietary Supplements, Animal Feed, Food & Beverages), ....
Vitamin Ingredients Market Size
Market Size in USD
CAGR8.4
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 8.4 |
| Market Concentration | High |
| Major Players | BASF SE, Koninklijke DSM N.V., Lonza Group, Glanbia Plc., Atlantic Essential Products Inc. |
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Vitamin Ingredients Market Analysis
The Global Vitamin Ingredients Market is estimated to be valued at USD 6.3 billion in 2024 and is expected to reach USD 11.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
The vitamin ingredients market is expected to witness significant growth over the forecast period. The increasing demand for fortified food products along with rising health-conscious population is a major factor driving the market. There is a growing awareness among consumers regarding maintaining nutritional balance in their diet. This has resulted in increased consumption of various dietary supplements, which is supporting the demand for vitamin ingredients. Moreover, changing lifestyles and busy schedules have reduced the intake of essential nutrients from regular diet. This is further boosting the need for vitamin-enriched products. Product innovation with novel blends of vitamins is also fueling the growth of vitamin ingredients market. However, strict regulations regarding the usage of vitamins may hamper the market expansion to some extent over the coming years.