According to a recent report by Reports and Data, the global Vitamin D3 Market is expected to grow at a revenue CAGR of 3.0% and reach a market size of USD 233.8 Million by 2030. This growth is being driven by advancements in pharmaceutical technology, which has led to an increase in production of vitamin D3 products in the market, resulting in greater adoption of fortified food products in homes.
This trend is being fueled by two main factors: government initiatives and rising self-awareness among the general population about the dangers of an unhealthy diet on personal and professional life. These factors are expected to drive market growth during the forecast period and generate further demand.
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Increasing production to meet rising demand for vitamin D3 food products is practical, particularly for the animal feed industry, which is a consolidated industry with the potential to generate value in terms of other allied industries such as dairy or farms. Additionally, factors such as lifestyle choices and external environment play a key role in influencing health in these challenging times, thereby boosting the need for a more nutritious dietary regime.
However, excessive consumption of vitamin D3 supplements is a primary challenge in the adoption of vitamin D3 in common households. This can result in a condition known as ‘vitamin D toxicity,’ which can cause health complications such as vomiting, dehydration, extreme weakness, bone-related complications, and kidney disorders. This challenge is expected to restrain market revenue growth.
Key Companies in the Vitamin D3 Market –
- BASF SE
- GSK plc
- American Way Cooperation
- Pfizer Inc.
- Zhejiang NHU Company Ltd.
- Zhejiang Garden Bio-chemical High-tech Co., Ltd.
- Fermenta Biotech Limited
- Kraft Foods Group
- LycoRed Ltd.
- Dishman Carbogen Amcis Limited.
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The report also highlights some key points. The crystallization segment is expected to account for a significant market share revenue over the forecast period due to increasing usage of crystalline vitamin products during vitamin D3 production. Latin America's vitamin D3 market is expected to register steady revenue growth due to ample availability of raw products and rapid demographic growth. In January 2020, Fermenta Biotech Limited merged with DIL Ltd. to bring in more capital inflow, which can be efficiently managed and funneled to expand the scope of production of vitamin D3.
The global vitamin D3 market has been segmented by Reports and Data based on product type, application, and region. The product types include vitamin D3 tablets and capsules, powder, crystallization, creams, and oils. The application outlook includes healthcare supplements, food and beverages, pharmaceuticals, animal and pet feed, and others.
The regional outlook includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In conclusion, the global vitamin D3 market is expected to grow steadily over the forecast period, driven by factors such as advancements in pharmaceutical technology, government initiatives, and rising self-awareness among the general population. However, excessive consumption of vitamin D3 supplements is a primary challenge that may restrain market revenue growth.
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