Global Vitamins Market to Reach US$3.3 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Vitamins markets. The global market for Vitamins is forecast to reach US$3.3 billion by the year 2015. Positive conditions in cosmetics and pharmaceuticals end-use markets are driving growth in the vitamins market. Other factors fuelling market growth include increased importance of sports nutrition, emergence of innovative food concepts, changing lifestyles, and rising demand for performance enhancers.

Vitamins: A Global Strategic Business Report

As the economic downturn continued to push consumers into financial abyss, changes in consumer spending became more apparent. More and more consumers refrained themselves from discretionary purchases, while purchasing pills that are likely to help them avoid costly physician visits. Over the recent years, sales of nutritional supplements and vitamins recorded steady growth owing to the growing awareness of the benefits offered by these products. However, sales of these products began booming since the onset of recession. Other factors such as rising cost of healthcare are triggering some consumers to opt for supplements that would help them alleviate costs on future health treatments.

Positive conditions in cosmetics and pharmaceuticals end-use markets are driving the growth in vitamins market. Evolution of innovative food concepts, and also increased importance of sports nutrition are contributing to market growth. Changing lifestyles is triggering demand for health beneficial products or nutraceuticals, while increased demand for performance enhancers in the feed industry has given rise to Eubiotics, a high-potential offshoot; and growing demand for innovative ‘cosmeceuticals’ is fueling growth in the cosmetics industry. The food fortification market, driven by the GRAS (Generally Recognized as Safe) status of vitamins is also on an upswing. The cosmetics industry, though relatively small in terms of the percentage share, is emerging as a key user with anti-oxidative properties or with proven beneficial effects for hair, skin, and nails. Pharmaceuticals end-use segment is expected to register second fastest growth rate over the coming years.

A decade ago, production of vitamins was confined to the West, and only a few chemical-based companies dominated the market. But now a significant quantity is produced in China and India. Increasing competition brought a change in product and marketing concepts, paving way for increased customer focus, manufacture of value-added products, and improved services. With diminishing profit margins, the primary focus of companies shifted to lowering of production overheads. Some producers started preferring fermentation process to chemical synthesis. Price levels of vitamins have witnessed a tremendous decline in recent years due to the entry of Chinese companies into the market. Asian manufacturers dominate the market for water-soluble vitamins, including Vitamin B and Vitamin C.

Europe represents the largest regional market for vitamins worldwide, as stated by the new market research report on Vitamins. The US trails behind Europe. However, growth in the market would be led by Asia-Pacific, which is projected to be the fastest growing regional market during the analysis period. Segment-wise, Vitamin E represents the largest segment. The market for Vitamin B Complex is projected to grow at the fastest compounded annual growth rate during the analysis period. In terms of end-use, Animal Feed Additives represent the largest end-user market, while Cosmetics market segment is projected to witness the fastest growth.

Major players profiled in the report include Adisseo France S.A.S, Aland (Jiangsu) Nutraceutical Co. Ltd., Archer Daniels Midland Co., BASF SE, Cargill Inc., Cognis Corp., DSM Nutritional Products Ltd., Lonza Group Ltd., North China Pharmaceutical Group Corp., Pharmavite LLC., among others.

The research report titled “Vitamins: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the vitamins markets, current market trends, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for vitamins market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The reports also analyzes the market by the following segments - Vitamin A, Vitamin D, Vitamin E, Vitamin B Complex, Vitamin C, and Other Vitamins; and by the following end-use segments - Animal Feed Additives, Cosmetics, Food and Pharmaceuticals. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Vitamins_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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