The major driving factors are increase in demand for functional and nutritionally enriched processed food products and the growing incidence of deficiencies coupled with malnutrition, factors, such as improved living standards and in-depth consumer education about the consumption of health or nutrition supplements infused with supplements and growing eye disorders
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 2020. Meanwhile, the International Agency for the Prevention of Blindness (IAPB) projected that by 2020, 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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Key findings from the reports suggest
- Vitamin A has broad application in cosmetics and personal care products which is driving in a positive way. The cosmetics segment is growing at a CAGR of 5.0%. Increasing awareness regarding wellbeing and personal hygiene, along with increasing anti-aging skincare products demand is anticipated to favor industry growth.
- According to a paper published by the Journal of The European Academy of Dermatology and Venereology, more than 85% of girls and 95% of boys are affected by skin acne during their adolescence. Out of these nearly 40-45% experience, moderateâ€toâ€severe acne, and almost 50% continue to have acne in their adulthood. The high prevalence rate of acne, particularly among the young population, is expected to boost the vitamin A growth.
- According to a report published by Deinovea French biotechnology company, in 2014 progression for carotenoids for face care (anti-aging) and skincare (whitening agents, sunscreen, etc.) should show good growth (3.2%) between 2014 and 2020, notably due to the expansion of the personal care products in Asia and Latin America.
- Synthetically sourced vitamin A products are expected to witness significant gains over the forecasted period, the market value of synthetic vitamins in 2018 was 209.8 Million
- 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. are a few of the major players. In August 2018, BASF Animal Nutrition introduced Lucantin NXT product line, a carotenoid feed additive in the E.U. 28 market. The next generation of carotenoids is stabilized by butylhydroxytoluene (BHT) or tocopherol and propyl gallate (P.G.). NutriFusion, an American based Company launched GrandFusion, pet feed that can deliver a wide array of phytonutrients, including a rich mix of antioxidants and vitamins, such as A, B, C and D.
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Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Vitamin A on the basis of grade, source, distribution channel and application, and region:
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)
Application (Volume, Metric Tons; 2019-2026 Revenue, USD Million; 2019-2026)
- Pro Animal Feed
- Food and Beverages
- Baby Food
- fortified food
- Bakery & Confectionery
- Human Nutrition
Distribution Channel (Volume, Metric Tons; 2019-2026, Revenue, USD Million; 2019-2026)
Regional Outlook (Volume, Metric Tons; 2019-2026 and Revenue, USD Million; 2019-2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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