The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Vitamin D Global Market Report 2024, the vitamin D market is expected to show promising growth in the forecast period.

The vitamin D market has witnessed an impressive surge in recent years, with significant growth anticipated in both the historic and forecast periods. The market is projected to expand from $1.51 billion in 2023 to $1.66 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 10.0%. Looking ahead, the market is expected to reach $2.45 billion in 2028, propelled by a CAGR of 10.2%. This robust growth can be attributed to several factors, including increased awareness of vitamin D deficiency, an aging population, rising cases of osteoporosis, the expansion of the functional food market, and government initiatives for vitamin D fortification.

Historic Growth Factors: A Foundation for Prosperity

• Increased awareness of vitamin D deficiency
• Growing aging population
• Rise in osteoporosis cases
• Expansion of functional food market
• Government initiatives for vitamin D fortification

Forecasted Surge: Unveiling Future Dynamics

The upcoming years promise a dynamic shift in the vitamin D market landscape. Factors fueling this growth include a rising demand for dietary supplements, a focus on preventive healthcare, growing consumer interest in health and wellness, research advances in vitamin D benefits, and an increasing incidence of chronic diseases. Notable trends in the forecast period encompass fortification of various food products with vitamin D, expansion of vegan vitamin D sources, personalized nutrition and vitamin D testing, adoption of vitamin D in beauty and skincare products, and the online retailing of vitamin D supplements.

Vitamin D Deficiency: A Driving Force

The prevalence of vitamin D deficiency is a key driver for market growth. This condition, characterized by low vitamin D levels, can lead to bone mineral loss, bone pain, muscular weakness, and bone softening. Disturbingly, statistics from November 2022 reveal that 42% of adults in the US, along with 50% of children aged one to five and 70% of children aged six to eleven, suffer from vitamin D deficiency. This alarming trend underscores the critical role vitamin D plays in maintaining overall health and well-being, propelling the market forward.

Key Players: Pillars of the Vitamin D Market

Major companies contributing to the vitamin D market’s success include BASF SE, Koninklijke DSM NV, Fermenta Biotech Ltd., and others. Their commitment to producing high-quality products aligns with the market’s demand for effective solutions to vitamin D deficiency.

View More On The Vitamin D Market Report 2024 – https://www.thebusinessresearchcompany.com/report/vitamin-d-global-market-report

Innovation in Product Offerings: A Palatable Approach

• Calcium and D3 gummies gaining traction
• Convenient and palatable supplementation
• Nutrazee’s innovative vegan vitamin D3 and calcium gummies
• Gluten-free, non-GMO, and allergen-free options

Strategic Acquisitions: Broadening Horizons

In July 2022, Nestlé Health Science S. A. acquired Puravida, a Belgium-based nutrition and lifestyle company. This strategic move aims to leverage Puravida’s expertise, fostering innovation and expanding the portfolio across consumer and healthcare professional channels. The acquisition signifies a commitment to meeting diverse consumer needs and preferences.

Market Segmentation: Understanding Diversity

The vitamin D market is segmented based on type, IU strength, form, and end-users, providing a comprehensive view of the industry landscape. The segmentation includes vitamin D3 and D2 types, various IU strengths, oil and powder forms, and distinct end-user categories such as adults, pregnant women, and children.

Regional Dominance: North America Leads the Way

In 2023, North America emerged as the largest region in the vitamin D market. This regional dominance reflects the significant strides made in promoting vitamin D awareness and fortification initiatives. As the market continues to evolve, regional dynamics will play a pivotal role in shaping its trajectory.

Conclusion: Illuminating the Future of Vitamin D

The vitamin D market’s growth trajectory is undeniable, fueled by a combination of awareness, innovation, and strategic collaborations. As consumer interest in health and wellness intensifies, and scientific advancements continue, the market is poised for further expansion. From addressing deficiencies to offering palatable solutions, the vitamin D market is not only meeting current demands but also shaping the future of preventive healthcare and well-being.

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