The Vitamin A Market will grow at highest pace owing to rising health consciousness among population
Vitamin A is a fat-soluble vitamin that plays an important role in vision, cell growth, and immunity. Vitamin A is either consumed as preformed vitamin A (retinol) from animal sources or as provitamin A (beta-carotene) from plant sources which is converted to vitamin A in the body. Vitamin A is essential for maintaining healthy skin and mucus membranes, as well as for good vision. It also supports the immune system and cell growth. The Vitamin A Market Demand is growing due to its various health benefits and rising deficiency cases across the globe.
The Vitamin A Market Is Estimated To Be Valued At USD 596.5 Mn In 2024 And Is Expected To Reach USD 844.9 Mn By 2031, Exhibiting A Compound Annual Growth Rate (CAGR) Of 5.1% From 2024 To 2031.
Key Takeaways
- Key players operating in the Vitamin A market are BASF SE, DSM N.V., Adisseo, Zhejiang NHU Co., Ltd., Zhejiang Medicine Co Ltd, and Orison Chemicals.
- The rising prevalence of vitamin A deficiency cases globally is driving the demand for vitamin A supplements. According to WHO, an estimated 250 million preschool-age children are vitamin A deficient worldwide.
- Technological advancements are shaping the vitamin A market. Players are developing more effective and enhanced delivery forms of vitamin A like nanoencapsulation techniques for improved absorption.
Market Trends
- Growing trend of veganism and flexitarian diets: With increasing awareness about health and environment protection, the trend of veganism and flexitarian diets are on the rise. This is increasing the demand for plant-based provitamin A sources like fruits and vegetables.
- Increasing applications of vitamin A in skin and personal care: Skin care products with vitamin A are becoming popular owing to its benefits for the skin. It is widely used in anti-aging creams and sun protection products.
Market Opportunities
- Expanding markets in emerging countries: Emerging countries like India, China, Brazil etc. offer lucrative opportunities for vitamin A market players attributed to rising economies, growing health awareness and huge population base.
- Innovations in supplement delivery forms: Development of advanced oral solid and liquid delivery systems can boost the uptake of vitamin A supplements by making them more palatable and convenient.
Impact of COVID-19 on Vitamin A Market Growth
The ongoing COVID-19 pandemic has adversely impacted the growth of the global Vitamin A market. The imposition of lockdowns across various countries led to the closure of manufacturing facilities and disruption in the supply chain networks. This affected the production and supply of vitamin A products. The travel restrictions and social distancing norms further constrained the distribution of vitamin A supplements and food products fortified with vitamin A.
However, with the gradual lifting of lockdowns and resumption of business activities, the Vitamin A market is witnessing a rebound. The growing awareness regarding health and immunity boosting has fueled the demand for vitamin A supplements. Manufacturers are strategizing new production and distribution approaches to cope up with the ongoing demand. Various government agencies are also promoting supplementation programs to fulfill the nutritional requirements of the population during these challenging times. It is expected that with the availability of vaccines and herd immunity, the Vitamin A market will re-gain its pre-pandemic growth trajectory over the coming years.
China accounts for the largest share of the global Vitamin A market in terms of value. Due to improving living standards and health consciousness, China has emerged as the major consumption hub for vitamin A supplements, oils, beverages and fortified foods. Several local and international vitamin A manufacturers have established their production facilities in China to cater to the growing demand from the large population base. Other Asian countries including India, Indonesia and Vietnam are also contributing significantly to the Asian Vitamin A market.
The Middle East and Africa region is expected to witness the fastest growth in the Vitamin A market over the forecast period. Factors such as high prevalence of vitamin A deficiency diseases, efforts by governments and NGOs for supplementation programs, economic development and rising health expenditures will support the market expansion. Countries like Nigeria, Ethiopia, Egypt and South Africa present lucrative opportunities for vitamin manufacturers and food fortification companies to tap into the demand from Africa.
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