Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), and Region - Global Forecast to 2023

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Date: 10-Oct-2018
No. of pages: 144
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“The vitamins market is projected to grow at a CAGR of 7.3%.”

The vitamins market is estimated to be valued at USD 5.18 billion in 2018 and is projected to reach 7.35 billion by 2023, at a CAGR of 7.3%. The market is driven by growth in the demand for functional and nutritionally enriched processed food products, the prevalence of vitamin deficiencies, and feed fortification due to a rise in global meat & dairy product consumption. The constrained supply of raw materials for natural vitamins, coupled with high costs, restrains the market growth of vitamins.

“Vitamin B is set to be the largest segment, in terms of type, for vitamins in 2018.”

The vitamin B segment is estimated to be the largest in 2018 in the vitamins market. Vitamin B is required for the proper functioning of the body. Each type of vitamin B provides varied health benefits such as enhancement of skin health, the production of red blood cells and cellular energy, and proper functioning of the nervous system. Furthermore, multiple benefits of vitamin B such as generation of energy and maintenance of immunity and digestive health; as well as their application in multiple industries have led to the dominance of this segment in the vitamins market.

“The food & beverages segment, in terms of application, is projected to be the fastest-growing segment for vitamins from 2018 to 2023.”

The food & beverages segment is projected to be the fastest-growing application segment in the vitamins market during the forecast period. Consumers are increasingly shifting their preference toward on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their increasingly busy lifestyles, healthy snacking habits, and greater awareness about vitamin fortified food & beverage products, which is driving the market for vitamins.

“Asia Pacific is set to lead the vitamins market with the largest share in 2018.”

The Asia Pacific market is estimated to account for the largest share in 2018 and is also projected to grow at the highest CAGR during the forecast period. The market in this region is majorly driven by China, which is the largest producer, exporter, and consumer of vitamins. Further, the rise in incomes, increase in purchasing power, and significant consumer demand for nutritional & healthy products are also driving the consumption of vitamins in various industries in the region.

The breakdown of the primaries on the basis of company type, designation, and region is as follows:


  • By Company Type: Tier 1:33%, Tier 2: 28%, and Tier 3: 39%

  • By Designation: Clevel:49%, Dlevel:21%,and Others: 30%

  • By Region: North America: 25%, Europe: 30%, Asia Pacific:40%, and RoW: 5%


Key vitamin manufacturing players include the following:


  • Koninklijke DSM N.V. (Netherlands)

  • Glanbia plc (Ireland)

  • ADM (US)

  • BASF (Germany)

  • Lonza Group (Switzerland)

  • Vitablend Nederland B.V. (Netherlands)

  • SternVitamin GmbH & Co. KG (Germany)

  • Farbest-Tallman Foods Corporation (US)

  • Watson Inc. (US), Zagro (Singapore)

  • The Wright Group (US)

  • Rabar Pty Ltd. (Australia)

  • Adisseo (France)

  • Showa Denko K.K. (Japan)

  • BTSA BIOTECNOLOGíAS APLICADAS S.L (Spain)


The key players in the vitamins market adopted expansions & investments as their key growth strategy to increase their market share and profits. New product launches accounted for the second-most important strategy to be adopted by market players.

Research Coverage

The report analyzes the vitamins market across different types and regions. It aims at estimating the size and future growth potential of this market across different segments such as type, application, source, and region. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

Reasons to buy this report:


  • To get a comprehensive overview of the global vitamins market

  • To gain wide-ranging information about the top players in this industry, their product portfolios, and the key strategies adopted by them

  • To gain insights on the major countries/regions in which the vitamins market is flourishing

Vitamins Market by Type (Vitamin B, Vitamin E, Vitamin D, Vitamin C, Vitamin A, and Vitamin K), Application (Healthcare Products, Food & Beverages, Feed, and Personal Care Products), Source (Synthetic and Natural), and Region - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Periodization Considered
1.5 Currency Considered
1.6 Volume Unit Considered
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Vitamins Market
4.2 Vitamins Market, By Key Country
4.3 Asia Pacific: Vitamins Market, By Type & Key Country
4.4 Vitamins Market, By Application & Region
4.5 Vitamins Market, By Source & Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Demand for Functional and Nutritionally Enriched Processed Food Products
5.2.1.2 Prevalence of Vitamin Deficiencies
5.2.1.3 Feed Fortification Due to Rise in Global Meat & Dairy Product Consumption
5.2.2 Restraints
5.2.2.1 Constrained Supply of Raw Materials for Natural Vitamins Coupled With High Costs
5.2.3 Opportunities
5.2.3.1 Sourcing of Natural Allergen-Free Vitamin E
5.2.4 Challenges
5.2.4.1 Scarcity of Ingredients and Price Sensitivity
5.2.4.2 Environmental Impact Resulting in Changes in Regulatory Policies
5.3 Supply Chain Analysis

6 Vitamins Market, By Type
6.1 Introduction
6.2 Vitamin B
6.3 Vitamin E
6.4 Vitamin D
6.5 Vitamin C
6.6 Vitamin A
6.7 Vitamin K

7 Vitamins Market, By Application
7.1 Introduction
7.2 Healthcare Products
7.3 Food & Beverages
7.3.1 Infant Food
7.3.2 Dairy Products
7.3.3 Bakery & Confectionery Products
7.3.4 Beverages
7.3.5 Others
7.4 Feed
7.5 Personal Care Products

8 Vitamins Market, By Source
8.1 Introduction
8.2 Synthetic
8.3 Natural

9 Vitamins Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.2 Japan
9.2.3 India
9.2.4 Australia
9.2.5 Rest of Asia Pacific
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe
9.4 North America
9.4.1 US
9.4.2 Canada
9.4.3 Mexico
9.5 Rest of the World
9.5.1 South America
9.5.2 Middle East
9.5.3 Africa

10 Competitive Landscape
10.1 Overview
10.2 Key Market Strategies
10.3 Market Share Analysis
10.4 Competitive Scenario
10.4.1 Expansions & Investments
10.4.2 New Product Launches
10.4.3 Acquisitions
10.4.4 Agreements

11 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 Koninklijke DSM N.V.
11.2 Glanbia PLC
11.3 ADM
11.4 BASF
11.5 Lonza Group
11.6 Vitablend Nederland B.V.
11.7 Sternvitamin GmbH & Co. Kg
11.8 Farbest-Tallman Foods Corporation
11.9 Watson Inc.
11.10 Zagro
11.11 The Wright Group
11.12 Rabar Pty Ltd.
11.13 Adisseo
11.14 Showa Denko K.K.
11.15 Btsa Biotecnologías Aplicadas S.L

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables

Table 1 US Dollar Exchange Rates Considered, 2013–2017
Table 2 Vitamins Market Snapshot, 2018 vs 2023
Table 3 Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 4 Vitamins Market Size, By Type, 2016–2023 (KT)
Table 5 Vitamin B Market Size, By Region, 2016–2023 (USD Million)
Table 6 Vitamin B: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 7 Vitamin E Market Size, By Region, 2016–2023 (USD Million)
Table 8 Vitamin E: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 9 Vitamin D Market Size, By Region, 2016–2023 (USD Million)
Table 10 Vitamin D Market Size, By Region, 2016–2023 (KT)
Table 11 Vitamin C Market Size, By Region, 2016–2023 (USD Million)
Table 12 Vitamin C Market Size, By Region, 2016–2023 (KT)
Table 13 Vitamin A Market Size, By Region, 2016–2023 (USD Million)
Table 14 Vitamin A Market Size, By Region, 2016–2023 (KT)
Table 15 Vitamin K Market Size, By Region, 2016–2023 (USD Million)
Table 16 Vitamin K Market Size, By Region, 2016–2023 (KT)
Table 17 Vitamins Market Size, By Application, 2016–2023 (USD Million)
Table 18 Vitamins Market Size, By Application, 2016–2023 (KT)
Table 19 Healthcare Products: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 20 Healthcare Products: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 21 Food & Beverages: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 22 Food & Beverages: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 23 Food & Beverages: Vitamins Market Size, By Type, 2016-2023 (USD Million)
Table 24 Feed: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 25 Feed: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 26 Personal Care Products: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 27 Personal Care Products: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 28 Vitamins Market Size, By Source, 2016–2023 (USD Million)
Table 29 Vitamins Market Size, By Source, 2016–2023 (KT)
Table 30 Synthetic: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 31 Synthetic: Vitamins Market Size, By Region, 2016–2023 (KT)
Table 32 Natural Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 33 Natural Vitamins Market Size, By Region, 2016–2023 (KT)
Table 34 Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 35 Vitamins Market Size, By Region, 2016–2023 (KT)
Table 36 Asia Pacific: Vitamins Market Size, By Country, 2016–2023 (USD Million)
Table 37 Asia Pacific: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 38 Asia Pacific: Vitamins Market Size, By Type, 2016–2023 (KT)
Table 39 Asia Pacific: Vitamins Market Size, By Application, 2016–2023 (USD Million)
Table 40 Asia Pacific: Vitamins Market Size, By Source, 2016–2023 (USD Million)
Table 41 China: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 42 Japan: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 43 India: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 44 Australia: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 45 Rest of Asia Pacific: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 46 Europe: Vitamins Market Size, By Country, 2016–2023 (USD Million)
Table 47 Europe: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 48 Europe: Vitamins Market Size, By Type, 2016–2023 (KT)
Table 49 Europe: Vitamins Market Size, By Application, 2016–2023 (USD Million)
Table 50 Europe: Vitamins Market Size, By Source, 2016–2023 (USD Million)
Table 51 Germany: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 52 France: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 53 UK: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 54 Italy: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 55 Spain: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 56 Rest of Europe: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 57 North America: Vitamins Market Size, By Country, 2016–2023 (USD Million)
Table 58 North America: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 59 North America: Vitamins Market Size, By Type, 2016–2023 (KT)
Table 60 North America: Vitamins Market Size, By Application, 2016–2023 (USD Million)
Table 61 North America: Vitamins Market Size, By Source, 2016–2023 (USD Million)
Table 62 US: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 63 Canada: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 64 Mexico: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 65 RoW: Vitamins Market Size, By Region, 2016–2023 (USD Million)
Table 66 RoW: Vitamins Market Size, By Type, 2016-2023 (USD Million)
Table 67 RoW: Vitamins Market Size, By Type, 2016-2023 (KT)
Table 68 RoW: Vitamins Market Size, By Application, 2016-2023 (USD Million)
Table 69 RoW: Vitamins Market Size, By Source, 2016–2023 (USD Million)
Table 70 South America: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 71 Middle East: Vitamins Market Size, By Type, 2016–2023 (USD Million)
Table 72 Africa: Vitamins Market Size, By Type, 2016-2023 (USD Million)
Table 73 Expansions & Investments, 2013–2018
Table 74 New Product Launches, 2013–2018
Table 75 Acquisitons, 2013–2018
Table 76 Agreements, 2013–2018

List of Figures

Figure 1 Vitamins Market Segmentation
Figure 2 Regional Segmentation
Figure 3 Vitamins: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Vitamins Market Size, By Type, 2018 vs 2023 (USD Million)
Figure 8 Vitamins Market Size, By Application, 2018 vs 2023 (USD Million)
Figure 9 Vitamins Market Size, By Source, 2018 vs 2023 (USD Million)
Figure 10 Vitamins Market Share (Value), By Region, 2017
Figure 11 Growth in Demand for Functional and Nutritionally Enriched Processed Food Products to Drive the Demand for Vitamins
Figure 12 India is Projected to Be the Fastest-Growing Market for Vitamins Between 2018 and 2023
Figure 13 Vitamin B Accounted for the Largest Share in the Asia Pacific Vitamins Market
Figure 14 Food & Beverage to Be the Fastest-Growing Segment During the Forecast Period
Figure 15 Asia Pacific to Dominate the Vitamins Market Across Both Sources Through 2023
Figure 16 Market Dynamics: Vitamins Market
Figure 17 Meat Consumption, By Livestock Meat Type, 2000-2017 (KT CWE)
Figure 18 Supply Chain Analysis of Vitamins Industry
Figure 19 Vitamins Market Share (Value), By Type, 2018 vs 2023
Figure 20 Vitamins Market Share (Value), By Application, 2018 vs 2023
Figure 21 Vitamins Market Share (Value), By Source, 2018 vs 2023
Figure 22 China Accounted for the Largest Share in the Vitamins Market in 2017
Figure 23 Asia Pacific: Vitamins Market Snapshot
Figure 24 Europe: Vitamins Market Snapshot
Figure 25 Key Developments of the Leading Players in the Vitamins Market Between 2013 & 2018
Figure 26 Vitamins Market Developments, By Growth Strategy, 2013–2018
Figure 27 Market Share of Players in the Vitamins Market, 2017
Figure 28 Koninklijke DSM N.V.: Company Snapshot
Figure 29 Koninklijke DSM N.V.: SWOT Analysis
Figure 30 Glanbia PLC: Company Snapshot
Figure 31 Glanbia PLC: SWOT Analysis
Figure 32 ADM: Company Snapshot
Figure 33 ADM: SWOT Analysis
Figure 34 BASF: Company Snapshot
Figure 35 BASF: SWOT Analysis
Figure 36 Lonza Group: Company Snapshot
Figure 37 Lonza Group: SWOT Analysis
Figure 38 Showa Denko K.K.: Company Snapshot

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