Reports and Data's current analysis indicates that the global market for vitamins was worth USD 6.7 billion in 2021 and is projected to reach USD 12.6 billion by 2030, growing at a CAGR of 7.4%
Vitamins are frequently used as dietary supplements and prescribed by medical professionals as a treatment for a variety of conditions ranging from mild illnesses to chronic diseases. They are believed to enhance immunity, promote wellbeing, and expedite recovery from illness. These organic compounds are necessary in small quantities and must be obtained from the environment as they cannot be synthesized adequately by the human body to maintain good health. Furthermore, healthy individuals often self-prescribe vitamins to improve their health, supplement their nutrition, and prevent minor ailments. In the United States, these substances are one of the most prevalent types of dietary supplements.
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Top Companies Operating in the Global Vitamins B Market Report:
Archer Daniels Midland Company, BASF SE, Btsa Biotecnologías Aplicadas AS, Farbest Brands, Glanbia PLC, Lonza Group Ltd., Rabar Pty., Ltd., Royal DSM NV, Showa Denko K.K, Pharmavitte
Driving Factors of Vitamins B Market
- Increasing health awareness: With a growing focus on health and wellness, there has been a surge in demand for vitamins and other dietary supplements. Consumers are becoming more health-conscious and are willing to invest in products that support their overall health and wellbeing.
- Rise in chronic diseases: With the increase in chronic diseases such as obesity, diabetes, and heart disease, there is a growing need for preventative measures to maintain good health. Vitamins and other dietary supplements are believed to play a role in preventing these conditions and may help manage the symptoms of these diseases.
- Aging population: As the global population ages, there is a greater demand for products that support healthy aging. Vitamins are believed to play a role in maintaining healthy cognitive function, bone health, and immune function, making them a popular choice among older adults.
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An analysis of the Vitamins B Market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Vitamins B Market, a country-by-country analysis of the market is provided in the report.
The global Vitamins B Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
By Type (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Vitamin B
- Vitamin E
- Vitamin D
- Vitamin C
- Vitamin A
- Vitamin K
By Source (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Synthetic
- Natural
By Application (Volume Metric Tons, Revenue, USD Million; 2020-2028)
- Healthcare Products
- Food Beverages
- Infant Food
- Dairy Products
- Bakery Confectionery Products
- Beverages
- Others
- Feed
- Personal care products
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