The vitamins market is set to experience steady growth backed by consistent demand from end-use industries such as animal feed, food, cosmetics and pharmaceuticals. The market is expected to reach US$3.2 billion by 2010.
San Jose, California (PRWEB) June 29, 2007 -- Animal feed additives, the largest end use market for vitamins, is influenced by growing demand for meat products. The market is driven by a host of diverse factors including variations in income, population, exports and meat consuming preferences. As the world's population continues to increase, demand for food will experience dramatic growth. This, coupled with rising affluence in developing nations, will shape the eating habits of the global population.
Protein rich foods particularly meat consumption rises when disposable incomes rise. Consequently, the animal industry and its allied sectors such as feed additives are set to experience major growth. Expanding elderly population, and rising levels of health awareness among consumers are other factors fueling demand. Driven by the GRAS (Generally Recognized as Safe) status of vitamins, food fortification market is on an upswing. Antioxidant and other beneficial properties of vitamins bolstered demand in the cosmetics industry.
Animal Feed Additives market with over 48 percent share, is largest end-use segment, while cosmetics is projected to witness fastest growth through 2010. Europe is the largest market worldwide at an estimated US$967 million in 2007. United States is the second largest market followed by Japan. The US, Europe, and Asia-Pacific collectively accounted for more than 80 percent of the global vitamins market. Asia-Pacific holds enormous growth potential, and is projected to be the fastest growing regional market over the review period 2000-2010. Vitamin E represents the leading product segment capturing over 30 percent of the market.
The global marketplace is highly concentrated with leading players accounting for three-fourths of the sales. However, the entry of Chinese companies has significantly transformed the production landscape. Market participants include Adisseo, Archer Daniels Midland, BASF AG, Boehringer Ingelheim Consumer Health Care, Cambrex, Cargill Inc, Cognis Corp, DSM Nutritional Products, Daiichi Pharmaceuticals, Degussa AG, Kuraray Company, Lonza Group, Pharmavite, Reilly Industries, Mitsui Chemicals, Solvay, Sumitomo and others.
"Vitamins: A Global Strategic Business Report" provides a comprehensive review of market trends, product profile, players, competition, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Spain, Asia, Latin America and the Middle East. Historic and current and future analytics are provided for product segments including Vitamin A, Vitamin D, Vitamin E, Vitamin B and Vitamin C markets. Analytics are also presented in terms of end-use segments such as Animal Feed Additives, Cosmetics, Food, and Pharmaceuticals.
For more details about this research report, please visit www.strategyr.com/MCP-2542.asp.
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