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Vitamin ingredients market to garner huge profits over 2018-2024, food & personal care applications to outline the competitive landscape

Author : Rahul Sankrityayan | Published Date : 2019-03-27 

The upsurge in the revenue graph of vitamin ingredients market for food & personal care applications can be aptly credited to the rising healthcare awareness in addition to escalating medical expenditure. Not to mention, the growing rate of malnutrition across the globe has also contributed majorly to the expansion of this vertical. Nutrients play a key role in preventing harmful diseases and their shortage would quite overtly lead to malnutrition, especially amongst children and women. According to The World Health Organization (WHO) report 2002, more than 167 million children under the age of five years were reported to be underweight, a fact that led to the massive escalation of vitamin ingredients market for food & personal care applications.

The growing consumption of fast food amongst the urban population has contributed towards the rise of vitamin deficiencies recently. Unhealthy junk food diets contribute to more than 677,000 deaths every year in the U.S. leading to nutrition and obesity related diseases such as Type 2 diabetes, obesity, blood pressure, cancer, heart disease etc. This has, quite overtly, led to an increase in consumer awareness concerning healthier diet consumption, thereby resulting in an upsurge in the intake of dietary supplements and nutraceuticals.

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Vitamin ingredients market for food & personal care applications: Vitamin A consumption trends

Vitamin A based vitamin ingredients market size for food & personal care applications was valued over $180 million in 2017. Being an essential nutrient required for preserving eye health and vision and the immune functions, vitamin A is consumed extensively on account of the rising healthcare expenditure and the growing food & beverages sector.

Another factor augmenting vitamin A market trends is the fact that the deficiency of this nutrient leads to an increase in the prevalence of diseases such as malaria, diarrhea, as well as fetal loss and preterm birth. Having identified the potential dangers of the same, dietary supplement manufacturers have been making the nutrient commercially available, enhancing the prospects of vitamin ingredients market for food & personal care applications from vitamin A.

Vitamin ingredients market for food & personal care applications: Vitamin E consumption trends

Vitamin E is exceptionally beneficial as far as skin and nutrition problems are concerned. As per medical experts, the vitamin helps in cholesterol balance, skin repair, reduced cancer risk, prevention of free radicals, and promotion of muscle strength. Driven by its incredible advantages, vitamin E market size for food applications may grow significantly at a CAGR of 3.5% over 2018-2024.

The robust expansion of vitamin E market can also be credited to the escalating healthcare costs and the rapidly rising geriatric populace, especially across the U.S. and Japan. Given that the elderly are more susceptible to the problems of muscle loss and bad cholesterol, it goes without saying that vitamin ingredients market share for food & personal care applications from vitamin E is bound to observe a remunerative growth potential in the years ahead.

Some of the most pivotal contenders of vitamin ingredients market for food and personal care applications include the formidable BASF, DSM, Nestle, Pfizer, Lonza and Groupe Danone. Manufacturers have been focusing more on tactics such as collaborations in a bid to expand their market reach and product portfolio. Alternative production tactics are also constantly under the radar for these manufacturers, in a bid to mitigate the demand & supply imbalance.

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Undeniably, vitamins are highly pivotal nutrients required by the human body for normal cell function, growth, and development. Given that the body is incapable in producing them in adequate amount, nutrient supplement manufacturers have been highly proactive with regards to producing effective alternatives to combat the rising demand. The escalating cases of vitamin deficiency, rising consumption of junk food and increase in older age population requiring preventive healthcare are certain to augment the growth of vitamin ingredients market for food & personal care applications in the years ahead, the size of which is projected to cross USD 7 billion by 2024.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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