VITAMIN D INGREDIENTS MARKET ANALYSIS

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2. VITAMIN D INGREDIENTS MARKET ANALYSIS Vitamin D Ingredients Market, By Product Type (Vitamin D3, Vitamin D2), By Source (Milk, Eggs, Fish, Animals, Plants, Fruits, and Vegetables, Others (Microalgae, fungi, yeast, plants, etc.)), By Application (Pharmaceutical, Food, Beverage, Cosmetics, Animal Feed and Pet Food, Others), By Form (Powder, Resin, Liquid), and By Region (North America, Europe, Latin America, Asia Pacific, Middle East & Africa ) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

3. Vitamin D Ingredients Market 2017–2027Vitamin D belongs to the group of fat-soluble vitamins that occur naturally in food and are also available as a dietary supplement. Moreover, it is also produced when UV rays from sunlight hit the skin and trigger the synthesis of vitamin D. Vitamins D promote the healthy absorption of calcium in the guts of human and maintain an optimum level of serum calcium and phosphate concentrations to offer healthy mineralization of bone and to avoid hypocalcemic tetany. Vitamins D is essential for normal bone growth as an inadequate amount of vitamin D in the body can lead to thinning of the bone.The global vitamin D ingredients market is projected to reach around US$ 4.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 10.6% during the forecast period (2019-2027). • Drivers • Growing cases of vitamin D deficiency disease such as rickets due to lack of exposure to sunlight and unhealthy eating habits is expected to serve as a major growth driver factor to the market of vitamin D ingredients. Growing number of the working-class population residing in urban cities are highly susceptible to vitamin D deficiency as compared to people living in rural areas because they spend almost all the daylight hours in office which decrease the level of vitamin D and leading to various disease associated with deficiency of vitamin D. This factor is expected to propel the demand for vitamin D ingredients. • Increasing initiatives by the government in the form of advertisement to promote the intake of Vitamin D is expected to propel the market growth of Vitamin D ingredients over the forecast period. According to the Coherent Market Insights, FDA, EFSA, NIH, and many other regulatory agencies or government bodies have issued recommendations on the intake of Vitamin D for every age group and pregnant women in recent few years. The regulatory agencies have identified the importance of Vitamin D intake and the problems associated with the deficiency of the same. Regulatory agencies started issuing recommendations on dietary supplements intake, especially for Vitamin D to help people in achieving a better lifestyle and health.  • Regionally, North America dominated the global vitamin D ingredient market in 2018, accounting for around 70% share in terms of volume, followed by Europe and Asia-pacific, respectively

4. Figure 1. Global Vitamin D Ingredient Market, Revenue Share (%), By Region, 2018

5. Market Restraints • Growing cases of a medical condition associated with the excessive consumption of Vitamin D is projected to restrict the market growth of Vitamin D ingredients. High level of Vitamin D in the body can lead to Vitamin D toxicity commonly known as Hypervitaminosis D. Though it is rare, but the serious condition can result in a buildup of excess calcium in the blood which is also known as hypercalcemia. Therefore, excessive consumption of Vitamin D can cause serious medical conditions, this factor is expected to restrain the market growth of Vitamin D ingredient. • The advent of advanced therapies is presumed to reduce the consumption of Vitamin D, thereby hindering the market growth. In November 2016, a team constituting scientists and professors of Ewha Woman's University College of Medicine, South Korea has won a US$ 2.16 million government subsidy for their stem cell therapy research in which adult stem cells were extracted from the tonsils and regenerated into parathyroid cells which are crucial for producing hormones. Deficiency of hormones can cause Hypoparathyroidism disease which may result in low levels of calcium in the blood. Therefore, such development of advanced treatment is expected to restrict the consumption of Vitamin.

6. Market Opportunities • Growing application of vitamin D in prenatal is expected to offer potential growth opportunity to the market of vitamin D ingredients. According to the Coherent Market Insights, researchers have discovered that Vitamin D supplements can reduce the risk of Autism in newborn babies. Adequate dosage during pregnancy can help in reducing the risk of autism in the baby. Moreover, many research has been conducted on the same but significant evidence is found in December 2016 when Professor John McGrath from the University of Queensland’s Brain Institute leads a research team and found that babies of pregnant women who didn’t take Vitamin D supplements were found to be more prone to Autism than its opposite. • Increasing adulteration of calcium with vitamin D by the manufacturers in order to enhance the creation of hormone calcitriol is expected to foster market growth over the forecast period. Vitamin D is important in the formation of calcium in the body as it promotes the synthesis of hormone calcitriol which is also known as the “active vitamin D”. Lack of vitamin D in the body can lead to the weakening of bone and also, stop the new formation of bones. So for this, many manufacturers are pairing vitamin D ingredient in calcium supplements to meet the growing demand for calcium supplements, thereby propelling the market growth. 

7. Figure 2. Global Vitamin D Ingredient Market – Opportunity Analysis

8. Market Trends • The growing focus of the researchers to develop cosmetics that incorporate vitamin D is gaining traction in the market and this trend is expected to propel the market growth. For instance, in February 2016, Researchers have developed a process for altering the ingredients in a sunscreen that does not impact its sun protection factor (SPF) but does allow the body to produce vitamin D. Therefore, a growing development of vitamin D incorporate cosmetic product will favor the market growth over the forecast timeframe. • Increasing the production of Vitamin D ingredients by manufacture in order to meet the rising demand for vitamin D is augmenting the market growth. According to the Coherent Market Insights, Genzyme is preparing to launch next-generation versions of Renagel and osteoarthritis therapy Synvisc by 2017 and also focusing on the increasing sale of Hectorol, a Vitamin D product in Latin America. Therefore, rising such initiatives for increasing the production capacity of Vitamin will positively impact the market growth over the forecast timeframe.

9. Figure 3. Global Vitamin D ingredient Market, Revenue Share (%), By Form, in 2018 On the basis of form, in 2018, powder vitamin product accounted the largest market share of 60% in terms of value, followed by liquid and resin respectively.

10. Regulations

11. Figure 4. Global Vitamin D Ingredient Market – Value Chain Analysis

12. Competitive Section • Key players operating in the global Vitamin D ingredient market are BASF SE, Dishman Netherlands B.V., Royal DSM N.V., Barr Pharmaceutical, Lycored Limited, Zhejiang Garden Bio-chemical High-tech Company Limited, Fermenta Biotech Ltd, Schiff Nutrition International, Inc. (Reckitt Benckiser), Glaxo Smith Kline, J.R. Carlson Laboratories

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