Forecast:by 2023, the Global Vitamin Market Output is estimated to Reach 518,333 tons
In the global market, vitamin production increased from 367,457 tons in 2012 to 419,380 tons in 2017, with a compound annual growth rate of 3.36%. The global vitamin market in 2017 was led by China, accounting for 66.12% of global vitamin production. Europe is the second largest regional market, with a global production share of 27.20%.
At present, the main producers of vitamins are concentrated in DSM, LONZA, Sinopec Group, BASF, Zhejiang Pharm, Shandong Luwei Pharm, Northeast Pharand North China Pharm.DSM is the world's leading company with a production market share of 20.17% in 2017.
Europe is the largest regional market for vitamins, with more than 17,355 tons sold in 2017. In addition, the Asia-Pacific region is expected to see the fastest growth, especially in India, with a projected compound annual growth rate of 12.32% from 2012 to 2017. Demand growth in North America and Europe is forecast to be 3.97% and 2.85% compound annual growth in 2012-2017, respectively.
In applications, the downstream of vitamins is widespread, and recently vitamins have gained increasing importance in the fields of feed additives, pharmaceuticals and cosmetics, as well as in food and beverage. Worldwide, the vitamin market is mainly driven by the growing demand for feed additives, which accounts for nearly 47.35% of the total vitamin consumption in the global downstream.
In the type of vitamins, vitamins can be divided into vitamin A, vitamin B3, vitamin B5, vitamin D3, vitamin E and vitamin C. Vitamin C is the largest type, holding about 46.31%.
In the future, with the increasing applications, the global market is expected to see significant growth, so the vitamin yield will show a steady growth trend in the next few years. The vitamin yield in 2023 is estimated at 518,333 tons.
Hengzhou Bozhi publishes "Global Vitamin Premixes Market Research Report 2017" This report provides a basic overview of the vitamin industry, including definitions, classifications, applications and industry chain structures. Discuss development policies and plans as well as manufacturing processes and cost structures.
The report focuses on key industry players around the world, including company profiles, product images and specifications, sales, market share and contact information. More importantly, it analyzes the development trend of the vitamin industry and marketing channels. Providing key statistics on the current state of the industry is a valuable guide and direction for companies and individuals who are interested in the market.