Global Vitamin API Market is Estimated to Witness High Growth Owing to Technological Advancements in Production Processes
The global vitamin API market provides vital active pharmaceutical ingredients (APIs) for supplement and pharmaceutical formulations. Vitamin APIs such as vitamin A, vitamin B complexes, vitamin C, vitamin D, vitamin E, and vitamin K have wide applications in nutrition, healthcare, personal care, and animal feed industries. The APIs are used in manufacturing tablets, capsules, solutions, and other delivery forms due to their high potency and bioavailability properties. Technological advancements in production processes such as continuous flow chemistry and multi-step synthesis routes have enhanced yields and purity levels of vitamin APIs. This has enabled cost-effective manufacturing and meeting stringent regulatory standards for quality and safety.
The global vitamin API Market was valued at US$ 451.1 Mn in 2023 and is expected to reach US$ 724.2 Mn by 2031, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Key Takeaways
Key players operating in the global vitamin API market are DSM, BASF, BOC Sciences, CSPC Pharmaceutical Group Limited, Lonza, Zhejiang Medicine, Jubilant Life Sciences, Glanbia Nutritionals, Aurorium, Northeast Pharmaceutical Group Co., Ltd, Abbott Laboratories and Fermenta Biotech Ltd.
The growing Vitamin API Market Demand for dietary supplements and functional foods owing to increased health awareness among consumers presents significant growth opportunities for vitamin API manufacturers. Moreover, technological advancements in continuous manufacturing processes have improved productivity and flexibility of operations.
Advancements such as multi-vitamin complex production in a single step, continuous flow chemistry routes for chiral vitamin APIs, and enzymatic conversions have enhanced manufacturing efficiencies. These developments are expected to drive the demand for high-quality vitamin APIs.
Market Drivers
Growth of the nutraceuticals industry is a key factor driving the demand for vitamin APIs. Wide applications of vitamins in supplements, functional foods, fortified staples to prevent vitamin deficiencies have fueled product adoption. Rising prevalence of lifestyle diseases and chronic conditions has further augmented the demand. According to industry estimates, the global nutraceutical market was valued at over US$340 Bn in 2020 and is expected to reach US$537 Bn by 2026, growing at 8% CAGR. This rising demand from the nutraceuticals industry consequently stimulates the vitamin API market growth.
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