Global Vitamins Market By Source (Plant, Animal), Product Type (Vitamins A, Vitamins B, Vitamins C, Vitamins D, Vitamins E, Vitamins K), End User (Food & Beverages, Personal Care, Animal Feed, Pharmaceuticals), Distribution Channel (Hypermarket, Supermarket, Mass Merchandisers, Specialty Stores), Geography – Industry Trends and Forecast to 2024
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Some of the major players operating in vitamins market are:
- The Boots Company PLC,
- Glanbia plc,
- Bayer AG,
- Merck KGa,
- I. du Pont de Nemours and Company,
- Archer Daniels Midland Company,
- BASF SE,
- CSPC Pharmaceutical Group Limited,
- North China Pharmaceutical Group Co., Ltd.,
- Otsuka Holdings Co., Ltd.,
- Zhejiang Hangzhou xinfu Pharmaceutical Co.,Ltd.,
- Pfizer Inc.,
- TAQA Energy B.V.,
- Boehringer Ingelheim GmbH,
- Carlisle Companies Inc.,
- Reckitt Benckiser Group plc.,
- NutraMarks, Inc.,
- Herbalife International of America, Inc.,
- Integrated BioPharma
- Twinlab Consolidation Corporation (TCC) among others.
The vitamins market accounted to USD 6.12 billion in 2016 growing at a CAGR of 5.24% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Vitamins Market
Vitamins are the organic compounds which is essential for every organism in small quantity for appropriate growth and development. Fewer intakes of vitamins may lead to various vitamins deficiency diseases such as night blindness, xerophthalmia and keratomalacia. Vitamins can be classified in water soluble and fat soluble vitamins.
Major Market Drivers and Restraints:
- Increase in the use of vitamins
- Increase in demand for vitamin supplements
- Rise in the awareness about vitamins supplements
- Adverse marketing of vitamins supplements
- Stringent regulations
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Market Segmentation: Global Vitamins Market
- The vitamins market is segmented by source into plants and animals.
- On the basis of product type the market is segmented into vitamins A, vitamins B, vitamins C, vitamins D, vitamins E and vitamins K.
- By end user the market is segmented into food & beverages, personal care, animal feed and pharmaceuticals.
- On the basis of distribution channel the market is segmented into hypermarket, supermarket, mass merchandisers and specialty stores.
- On the basis of geography, vitamins market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Vitamins Market
The vitamins market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vitamins market for global, Europe, North America, Asia Pacific and South America.
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