In the world market, the production of vitamin increases from 367457 MT in 2012 to 419380 MT in 2017, at a CAGR of 3.36%. In 2017, the world Vitamin market is driven by China, catching about 66.12% of world Vitamin production. Europe is the next-largest region-wise market with 27.20% world production share.
At today, the major producers of Vitamin are concentrated in DSM，Lonza, CSPC Pharmaceutical Group, BASF, Zhejiang Medicine, Shandong Luwei Pharmaceutical, Northeast Pharmaceutical and North China Pharmaceutical. DSM is the world leader, holding 20.17% production market share in 2017.
Europe was the largest regional market for Vitamin, with volume exceeding 170355 MT in 2017. In addition, Asia Pacific is also expected to witness the fastest growth, exceptionally India at an estimated CAGR of 12.32% from 2012 to 2017. North America and Europe are expected to witness demand growth at an estimated CAGR of 3.97% and 2.85% from 2012 to 2017, respectively.
In utilization, Vitamin downstream is wide and recently Vitamin has gained growing importance in various fields of Feed Additives， Pharmaceuticals and Cosmetics and Food and Beverage. Globally, the Vitamin market is essentially inspired by growing demand for Feed Additives which accounts for nearly 47.35% of total downstream consumption of Vitamin in global.
In type, Vitamin 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% share.
In the expectation, the market is expected to witness notable growth on account of rising applications, so in the next few years, Vitamin production will show a drift of steady growth. In 2023 the production of Vitamin is estimated to be 518333 MT.
Dr Nancy Miller has over 20 years experience as a educator and health practitioner. She has a B.S. from Lake Head University In Thunder Bay, and a Ph.D. in biology from the University of Guelph . Dr. Miller has worked as a special medical consultant for a major insurance provider before becoming a freelance health author and public speaker. There are several ways to contact Dr. Miller here.