The demand for vitamin D is growing due to the health benefits achieved such as normal growth and development of bone & teeth, prevention of muscle weakness, and regulating blood circulation. Vitamin D is a fat-soluble vitamin, which is essential for proper absorption of calcium and phosphorus in the intestinal tract of a body. It also helps in normal growth and development of bone and teeth, prevents muscle weakness, and regulates blood circulation. The Vitamin D market is driven by the growing awareness of vitamin D deficiency, rising cases of osteoporosis in women, and cases of malnutrition in children. The market for vitamin D is projected to reach USD 2.57 Billion by 2020 at CAGR of 11.6% from 2015.
Growing awareness about vitamin D deficiency among consumers
The deficiency of Vitamin D results in:
- Inadequate exposure to sunlight
- Malabsorption
- Low stomach acid
- Sedentary indoor lifestyle
- Accelerated catabolism from certain medications
Lack of vitamin D causes osteoporosis or calcium-depleted bone. Adequate consumption of vitamin D, along with calcium as part of a well-balanced diet may reduce the risk of osteoporosis. It plays an important role in developing healthy bones in the human body. According to the International Osteoporosis Foundation (IOF), osteoporosis causes more than 8.9 million fractures annually, resulting in an osteoporotic fracture every three seconds, globally.
Increasing prevalence of malnutrition in children
Children need vitamin D for the development of skeletal structure and tooth enamel. The deficiency of vitamin D in infants can have adverse consequences such as growth failure, lethargy, irritability, rickets, and a predisposition to respiratory infections during infancy. Considering the malnutrition issues, in 2003, the American Academy of Pediatrics (AAP) published a guideline, which recommended that 200 IU of supplemental vitamin D should be given daily to all children older than two months. However, after research it was observed that these dosages may be insufficient.
Due to the rising evidences of vitamin D deficiency among infants and children, according to another clinical report by the AAP ―Prevention of Rickets and Vitamin D Deficiency in Infants, Children, and Adolescents‖ 2008, it was recommended that all children should receive 400 IU a day of vitamin D through diet or supplements, beginning in the first few days of life.
According to a study conducted by Vitamin D Council in 2014, the rate of rickets is increasing in UK and the rate of hospitalizations are also at a pick from past 5 decades. Such incidences are increasing demand for vitamin D for children nutrition.
High growth opportunities in the emerging economies
The vitamin D market is projected to grow at a high CAGR in emerging economies such as China, India, Brazil, and Indonesia during the review period. The market in these emerging countries is projected to grow as a result of the economic development and changes in dietary preferences of consumers. The emerging market for vitamin D is characterized by the following:
- Demand for healthy, functional food products
- Consumer trend of self-medication and preventive actions
- Increasing awareness about vitamin D deficiency and products containing vitamin D
- Increase in cases of vitamin D deficiency and bone-related problems such as osteoporosis among menopausal women
The key players in the Vitamin D market are Nestlé (Switzerland), ADM (US), DSM (The Netherlands), Pfizer (US), BASF (Germany), and Kraft Foods (US). New product launches, expansions & investments, and mergers & acquisitions are the key strategies adopted by the market players to sustain in the competitive environment. In April 2017, DSM opened a new state-of-the-art in Delft (Netherlands) for expanding its research and development capabilities in fermentation and biotechnology for various food applications.
