According to the current analysis of Reports and Data, the global vitamin A market was USD 696.9 Million in 2018 and is projected to grow at a CAGR of 5.1% from 2019 to 2026. It is a fat-soluble retinoid and available in two forms, namely performed (retinol and its esterified form, retinyl ester) and pro-vitamin A (carotenoids). It aids in growth & development, boosting immune system, maintaining good vision, and promoting various hormones growth. The global consumption of Vitamin A is projected to grow at substantial rate owing to progressive outlook in the personal care products, animal feed industry, food & beverage industry, and pharmaceuticals.
According to Canadian Dermatology Association about 80-90% of the adolescent population undergo acne problem, and over 50% continues even in adulthood, which has led to high consumer adoption towards acne treatments, thereby stimulating vitamin A demand. These products provide retinol form sebum and reduces dry skin and oil generation, thus treating acne. Retinol and antioxidants nourish the skin from the inside and make skin healthy. It also plays a major role against fighting Age-Related Macular Degeneration (AMD) (blurred vision), glaucoma, and cataracts risk and it also preserves vision among the geriatric population. According to the National Eye Institute (NEI), AMD is one of the leading causes of vision loss in the U.S., affecting more than 1.75 million people. Moreover, due to the increased geriatric population, blurred vision is likely to grow, affecting around 30 lakh people by the year 2024. Meanwhile, the International Agency for the Prevention of Blindness (IAPB) projected that by 2024, 19.6 crore people might suffer from blurred vision worldwide; this figure can rise to 28.8 crore by 2040 which is showing lucrative opportunities for vitamin A industry players to manufacture pharmaceutical grade and food grade products. However, government regulations related to the approval of vitamin A products as pharmaceutical products hinder the vitamin A market.
WHO promotes food fortification to eradicate malnutrition issues in underdeveloped countries. Rising consumer health awareness in the U.S., U.K., and Japan has witnessed momentous progression in fortified food demand. Share for vitamin A in the North American region is expected to witness significant growth over the forecast period. A surge in economic standards sustained by rapid urbanization has led to a shift in consumer focus towards healthy nutrition might also propel vitamin A market growth in this region.
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Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.
Top Companies operating in the Market and Profiled in the Report include:
BASF SE, Pfizer, Inc., Zhejiang Medicine Co. Ltd, Archer Daniels Midland Company, Adisseo, Integrated Biopharma., E.I. du Pont de Nemours and Company, Bayer AG, Pharmavite LLC, and Nutraceutical Corporation, and Herbalife International, Inc.
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Vitamin A Market Segmentation:
Grade (Volume, Metric Tons; 2019-2026, Revenue, USD Million; 2019-2026)
- Feed Grade
- Food grade
- Pharmaceutical Grade
Source (Volume, Metric Tons; 2019-2026, Revenue, USD Million; 2019-2026)
- Natural
- Synthetic
Application (Volume, Metric Tons; 2019-2026 Revenue, USD Million; 2019-2026)
- Pro Animal Feed
- Food and Beverages
- Baby Food
- fortified food
- Dairy
- Bakery & Confectionery
- Beverages
- Others
- Beverages
- Pharmaceutical
- Human Nutrition
- Cosmetics
Distribution Channel (Volume, Metric Tons; 2019-2026, Revenue, USD Million; 2019-2026)
- Online
- Offline
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The report discusses in detail the top companies in the market along with their recent initiatives such as mergers and acquisitions, joint venture, partnerships, corporate and government deals, collaborations, and brand promotions and product launches among others. The report further discusses the companies’ initiatives and investments in key regions across the globe such as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
Region analysis Covers:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Vitamin A market growth over the forecast period of 2024-2028. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.
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