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Natural Vitamins Industry Benchmarks
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Natural Vitamins market frequently asked questions
During 2019-20, the global natural vitamins supply reached 364.4 thousand metric tons (MT). The figure is projected to increase owing to the COVID-19 repercussions.
China is the leading global exporter of natural vitamins, accounting for 2/5 of the overall market supply. Moreover, most of the US population consumes natural vitamins coming from China owing to price and availability. However, China’s supply volume declined by 23.5% due to political instabilities with the US over the recent past.
The constant fear of contracting the COVID-19 has made consumers increasingly bank on multivitamins and other immune-boosting formulations. However, the global production of natural vitamins dropped amidst the pandemic due to raw material supply disturbances and shipment delays.
In terms of volume, vitamin C holds the majority market share, while vitamin E leads the pack in terms of sales owing to increasing demand from the animal feed industry.
North America is home to the largest wellness and nutraceutical market worldwide. In addition, the COVID-19 crisis has largely impacted Europe and North America, leading to an upsurge in demand for immunity-boosting supplements.
Prominent suppliers in Europe and the US are encountering challenges due to supply chain disturbance and labor shortage. On the contrary, manufacturers in Asia are comparatively well-placed owing to the gradual relaxation of nationwide lockdowns. Furthermore, the growth rate of India’s natural vitamins export is 22%, which is again attracting market players.
Natural Vitamins market report transcript
Global Vitamin Market Outlook
Post covid-19, there has been a significant rise in health awareness, which has become a leading factor behind the surge in demand for vitamin-rich functional foods. On the other hand, an increase in concern towards disease outbreaks in livestock is driving the demand of vitamin-rich animal feed globally
The global vitamin figures are estimated to be at 364.4 Thd MT in 2021/2022. China is the top producer, which has surplus export volume. The US, the EU, and India, even though they produce relative volume, they are not major exporters, due to internal demand
Vitamin Demand Market Outlook
Demand for all vitamins, especially vitamin C and A, have gone up significantly, due to the increasing awareness about immunity building, due to the current pandemic. The feed market surging its consumption of vitamins and derivatives for poultry and dairy production.
Global Vitamin Supply–Demand Analysis
The global production of vitamins is witnessing a rapid increase and dwindling stocks from suppliers. COVID-19 has forced the population to focus on their immune system by taking supplements, such as multivitamins, and stand-alone vitamins, such as vitamin C, etc.
Vitamin C is the largest produced vitamin by volume; however, by sales, vitamin E is the largest, due to its demand from the animal feed industry
Vitamin B is expected to surge with demand than previous year. The production and demand both were observed to be lean due to China’s lockdown. However, the situation is bouncing back
Global Vitamin Trade Dynamics
China is the largest exporter of vitamins in the world. They occupy a market share of 41 percent (vitamin D, C and B complex) by exports; however, the export volume dropped by 23.5 percent last year, due to political instabilities with the US.
The upcoming countries for procuring vitamins are Australia and India
As of 2019, both these countries have a growth rate of 105 percent and 22 percent, respectively
It is believed that China ties up with companies in Australia, exports take place and are then re-exported to the US with a different country of origin label and company
Supply–Demand Analysis –US
Rise in health awareness - Due to increase in health awareness among millennials is driving vitamins consumption
Demand of Dietary Supplements – Growing vitamins deficiency among people, influencing demand of vitamins globally
Strong demand, due to the growing demand for meat and dairy products in feed additives industry
Increase of nutraceutical industries’ presence and the products
The anticipation of recession in 2023 will influence consumer behavior and market
The US is a minor supplier, however, their formulations in vitamin Predominately, most of the US consumes vitamins coming from China due to price and availability
Due to covid-19, there are multiple lockdowns in China which resulted into reduced output of vitamins
In China, manufacturer are facing a strict environmental policies which is tightening availability of vitamins
Russia-Ukraine war has resulted into supply disruption, especially in Europe
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