According to the new research report by Transparency Market Research on the global vitamin ingredients market, the competitive landscape of the market exhibits an intense competition. The top five companies operating in the competitive space account for the majority of the market share. These five companies are BASF, Koninklijke, DuPont, Lonza, and Amway. In coming years, these companies are expected to continue their dominance over the market. To maintain such strong brand positioning, these companies are adopting aggressive strategies such as mergers, acquisitions, joint ventures, and strategic partnerships. In addition to this, these companies are also investing heavily in developing new products that will cater to the growing demand from the end users.
The research report expects the global vitamin ingredients market to exhibit a stable CAGR of 4.9% during the given projection period of 2017 to 2025. With this rate of growth, the global market is expected reach a valuation of US$8.1 bn by the end of 2025. This is an eye-catching growth compared to the initial recorded valuation of US$5.3 bn back in 2016.
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Growing Inclination towards Preventive Healthcare to Work in Favor of Market Development
The future of the global vitamin ingredients market is a bright one. There are several factors that are fueling the overall development of the global market.
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One of the biggest driving factors for the market growth has been increasing health consciousness among people across the globe. The end-users are becoming extremely aware about the food they eat and nutrient they intake. Moreover, they are also aware about the benefits of having nutrient ingredients in their diet as supplements. Naturally, there has been an increasing demand for these products. Thus, the market is on course to achieve a stellar valuation in the near future.
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Another key trend that has been observed in the market is of increasing preference towards preventive healthcare. A large part of this paradigm shift has enabled consumers to opt for vitamin ingredients in their diet. Having a proper and well-nourished diet can lay a strong foundation for a healthy living. Thus, the popularity of nutrient ingredients has soared up and has helped in the overall development of the global market.
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Asia Pacific Segment to Exhibit Promising Growth Rate
In terms of geographical segmentation, there are five key regional segments of the global nutrient ingredients market. These regions are Europe, Asia Pacific, Middle East and Africa, North America, and Latin America. The research report expects the regional segment of Asia Pacific to exhibit a promising CAGR of 5.4% for the given forecast period. There are number of factors that are helping to push the development of the regional segment. Some of the key driving factors are large pool of people suffering from vitamin deficiency, increasing health awareness among people, initiatives undertaken by the local healthcare and governmental authorities, and presence of robust distribution channel among others. The regional segments of Europe and North America are expected to show steady growth rates in coming years of the forecast period.