Esterified Vitamins Market Size, Share, and Analysis, By Distribution Channel (Online Retail, Supermarkets, Others (e.g. Specialty Stores, etc.)), By End Use (Pharmaceutical, Nutraceutical, Others) and Regional Forecasts, 2022-2032
The Global Esterified Vitamins market size was USD 31.7 billion in 2021 and projected to grow from USD 40 billion in 2023 to USD 116.1 billion by 2032, exhibiting a CAGR of 12.5 % during the forecast period.
Esterified vitamins are formed by the transfer of phenol group of vitamins into esters, utilizing either acetic acid or succinic acid. By this modification, the vitamins become stable and have better shelf-life when compared to conventional vitamins. Esterified vitamins help in maintaining healthy immunological function, increase iron absorption, and provide benefits when utilized in nutraceuticals and other healthcare systems. Esterified vitamins are useful in quick absorption of iron and for healthy immune system and are used by nutraceuticals manufacturers.
Global Esterified Vitamins Market is expected to project a CAGR of 12.5% during the forecast period, 2022-2032
The Global Esterified Vitamins Market is expected to reach USD 116.1 billion at a CAGR of 12.5 % during forecast period owing to the increasing use of esterified vitamins in dairy items, sauces, refreshments, bakery products, and dressings is expected to boost the market. Interest of people has increased for maintaining wellness through diet, the healthcare expenditure has increased, and the growth of geriatric population are expected to fuel the global Esterified Vitamins market. The intake of vitamins in regular diet is increasing owing to the increased health-conscious of consumers which is helping in the growth of esterified vitamins market. Easy availability of vitamins vitamin A, E, D, C and B in combination with other dietary supplements is also helping to the growth of global market.
Supermarkets segment is expected to grow with high CAGR during the forecast period
The Global Esterified Vitamins Market is classified based on the Distribution Channel into Online Retail, Supermarkets, Others. The supermarkets segment has the highest market share and dominated the market in 2021 and is also expected to grow during the forecast period. For wellness products, a separate section in supermarkets is established to enable easy identify of a desired brand, which is propelling the market growth. Well-established, arranged and maintained products, customer preferences regarding certain products and brands, and customer willingness to pay for specific products are factors which will boost the growth of the supermarkets segment over the forecast period.
Pharmaceutical segment is expected to grow with high CAGR during the forecast period
The Global Esterified Vitamins Market is classified based on the End Use into Pharmaceutical, Nutraceutical, Others. The Pharmaceutical segment has the highest market share and dominated the market in 2021 and is also expected to grow during the forecast period. Esterified Vitamins are used widely in pharmaceutical sector to enhance the functioning of vitamins. Esterified vitamins are advanced form of vitamins which have better functioning when compared to advanced forms.
Increasing Geriatric Population is Expected to Boost the Growth of the Market
The increasing geriatric population led to the improved spending on Vitamin supplements. Increasing food standards and government regulations for approvals of vitamin & supplements that increased market growth. There has been an increased production of vitamins, with the rising focus on preventative healthcare products owing to market growth. By incorporating latest technologies there has been an increased efficiency in production. The increasing innovations, acceptance, and usage among consumers for esterified vitamin products would further assist towards the growth of market.
Rise in Awareness About the Utilization of Health Care Supplements
Increasing awareness about the utilization of health care supplements by consumers led to the market growth. Rise in usage of internet network connections made online shopping easy by reducing the barrier to buy dietary supplements in the market. The delivery of supplements like vitamins & minerals by manufacturers through online channels provide hassle-free experience during shopping. This will aid the market growth.
Toxicity on Increased Consumption May Restrain the Market Growth
All the Vitamins when are consumed in increased doses may lead to toxicity. Few of those symptoms include itching, stomach upset, flushed skin, headache etc. Severe symptoms include heart issues, kidney stones, and delusions which may restrain the market growth over the forecast period.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Global Esterified Vitamins market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market with highest market share towards dietary supplements owing to rising growth with esterified vitamins. Presence of large-scale manufacturers in the region focusing on the development of supplements that would propel the esterified vitamins market share in the region. Besides, dietary supplements infused with esterified vitamins have high antioxidant properties and high absorption, which would drive sales in North America. Asia Pacific is expected to grow during the forecast period owing to the increasing awareness on the importance of health and wellness in emerging counties. The rising number of supermarkets across Asia Pacific is a factor which helps to the growth of market. Supermarkets contain a separate section for wellness products which allow consumers to select brand easily.
Covid-19 had un expected effects on the economies across the globe. The global outbreak led to decline in the growth of almost all the sectors and closing of many industries. Moreover, the food and pharmaceutical sector was a the least affected sectors, as during pandemic all the related activities continued to fulfill the demand for medicines and in turn vitamin supplements globally. People were seeking for products to develop the immunity and defense system of their bodies utilizing vitamin supplements. With the imposition of lockdown and travel bans in many countries, there was a disruption in the market growth, but COVID 19 pandemic had a positive impact on the growth of Global Esterified Vitamins market.
Global Esterified Vitamins Market is further segmented by region into:
Market size value in 2021
USD 31.7 billion
Revenue forecast in 2032
USD 116.1 billion
CAGR of 12.5 % from 2022 to 2032
Base year for estimation
Revenue in USD billion and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Distribution Channel, End Use, and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
Natrol Vitamins & Supplements, Natures Plus, Vitae Natural, Thompson’s and Other Prominent Players
Global Esterified Vitamins market size was estimated at USD 31.7 billion in 2021 and is expected to reach USD 116.1 billion in 2032.
Esterified vitamins are formed by the transfer of phenol group of vitamins into esters, utilizing either acetic acid or succinic acid. By this modification, the vitamins become stable and have better shelf-life when compared to conventional vitamins. Esterified vitamins help in maintaining healthy immunological function, increase iron absorption, and provide benefits when utilized in nutraceuticals and other healthcare systems.
Supermarkets, and pharmaceutical segment accounted for the largest Global Esterified Vitamins market share
Key players: Natrol Vitamins & Supplements, Natures Plus, Vitae Natural, Thompson’s and Other Prominent Players are the key players in the Global Esterified Vitamins market.
Increasing geriatric population and Rise in Awareness are the factors driving the Global Esterified Vitamins market
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