The global esterified vitamins market size is anticipated to be valued at USD 67.9 Billion in 2032 and exhibit steady growth at a CAGR of 12.3% in the forthcoming years (2022 to 2032). Increasing consumer preference for low calorie and trans-free products is set to spur the need for healthy ingredients, including esterified vitamins.
As per a report by FMI, demand for esterified vitamins is projected to reach USD 35.6 Billion in 2022. Surging use of esterified vitamins in refreshments, sauces, dressings, dairy items, and bakery products is expected to boost the market in the assessment period.
| Report Attribute | Key Statistics |
|---|---|
| Esterified Vitamins Market Estimated Base Year Value (2021) | USD 34.1 Billion |
| Esterified Vitamins Market Expected Value (2022) | USD 35.6 Billion |
| Esterified Vitamins Market Anticipated Forecast Value (2032) | USD 67.9 Billion |
| Esterified Vitamins Market Projected Growth Rate (2022 to 2032) | 12.3% CAGR |
Esterified vitamins are mainly developed by transforming vitamins of the phenol group into esters by using either succinic acid or acetic acid. These vitamins have a better shelf-life and are stable, as compared to conventional vitamins.
Esterified vitamins help in quick iron absorption and healthy immune functioning and thus they are extensively used by manufacturers of nutraceuticals worldwide. Surging demand for vegan dietary supplements among millennials is another crucial factor that is anticipated to bode well for the market.
Increasing number of new product launches in various flavors and textures by prominent companies across the globe to meet the high consumer demand is set to push the market forward. Rising investments by key players in social media campaigns and innovative product launches by celebrities & sportsters are also projected to fuel growth.
In June 2022, Rounak Gulia, the three-time national medalist and six-time state champion, became the first woman wrestler to introduce her own health supplement brand in India. The Bharat Kesari title holder launched the Rapid Nutrition brand that includes nutraceuticals to deliver the required fats, vitamins, minerals, and proteins to help athletes stay in shape. Similar product launches by prominent athletes are expected to augment the market.
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Rising preference for vitamins in daily diet and surging number of health-conscious consumers worldwide are estimated to accelerate the esterified vitamins market growth in the evaluation period. Easy availability of vitamins, including vitamin E, A (carotenoids and retinol), D (cholecalciferol), C (ascorbic acid), and B in combination with other dietary supplements is also expected to augur well for the global market.
Moreover, rising interest of consumers in attaining wellness through diet, increasing geriatric population, and burgeoning healthcare expenditure are anticipated to fuel the global market. Increasing popularity of multivitamin supplements among sports athletes and working professionals is likely to aid growth.
In June 2022, for instance, vitafusion, North America-based leading gummy vitamin brand, introduced a 2-in-1 gummy vitamin called Multi + Immune Support that includes zinc and vitamin C for immune support.
The company also launched another 2-in-1 multivitamin named Multi + Beauty consisting of retinol and biotin for nails, hair, and skin support. Thus, development of such innovative products by key players globally is set to drive growth.
Though several water-soluble vitamins are excreted by one’s body, certain vitamins, including vitamin D, C, B-6, and A, as well as niacin can lead to toxicity symptoms if taken in high dosage. Toxicity symptoms can include flushed skin, itching, upset stomach, or headache. Some people can suffer from more severe symptoms such as heart rhythm issues, kidney stones, and confusion. Driven by the above-mentioned limitations, demand for esterified vitamins may decline in the next decade.
Consumer gravity towards dietary supplements in the USA and Canada is touted to be a rising growth factor with esterified vitamins used in plant-based formulations. Presence of various large-scale manufacturers in North America that are focusing on the development of vegetarian or vegan dietary supplements is another factor that would propel the esterified vitamins market share in the region.
Besides, dietary supplements infused with esterified vitamins have high absorption and antioxidant properties, which would boost sales among consumers in North America. Such supplements can also prevent damages of an individual’s body from free radicals. At the same time, they can reduce the risk of infection and enhance one’s immunity.
Asia Pacific is set to follow the footsteps of North America with esterified vitamins used copiously to minimize the occurrence of chronic diseases. Increasing awareness regarding the importance of health and wellness among consumers across emerging economies such as India and China is also expected to bolster sales of esterified vitamins.
Growing number of hypermarkets and supermarkets across Asia Pacific is another vital factor that is projected to spur the regional market. Hypermarkets/supermarkets contain a separate shelf or section for wellness products that allow consumers to easily choose and purchase their desired brand.
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Some of the leading companies present in the global esterified vitamins market include Natrol Vitamins & Supplements, Vitae Naturals, Natures Plus, and Thompson's.
The global market is competitive in nature with the presence of various small- and large-scale companies. They are mainly investing in R&D activities to introduce innovative vitamin products with several forms and flavors.
Some of the others are aiming to establish partnerships with e-commerce channels to ensure a continuous supply to consumers across the globe. They are also striving to surge their product availability and regional presence by engaging in mergers and acquisitions with small and medium-sized companies.
| Report Attribute | Details |
|---|---|
| Market Expected Value (2022) | USD 35.6 Billion |
| Market Anticipated Forecast Value (2032) | USD 67.9 Billion |
| Growth Rate | CAGR of 12.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | End Use, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Natrol Vitamins & Supplements; Vitae Naturals; Natures Plus; Thompson's |
| Customization | Available Upon Request |
The global esterified vitamins market is projected to exceed USD 67.9 Billion in 2032.
North America is set to lead the esterified vitamins market in the forecast period.
Natrol Vitamins & Supplements, Vitae Naturals, Natures Plus, and Thompson's are some of the renowned companies in the esterified vitamins market.
| Estimated Market Size in 2024 | USD 589.6 million |
|---|---|
| Projected Market Value in 2034 | USD 1,542.4 million |
| Value-based CAGR (2024 to 2034) | 10.1% |
| Market Estimated Size (2023) | USD 4050 million |
|---|---|
| Market Anticipated Size (2033) | USD 7352.3 million |
| Market Growth Rate | 6.5% CAGR |
| Market Size (2023) | USD 1,560 million |
|---|---|
| Anticipated Market Size (2033) | USD 2,780.3 million |
| Market Expected CAGR (2023 to 2033) | 5.9% |
| Estimated Market Size (2023) | 2,704 million |
|---|---|
| Market Projected Size (2033) | 4,657.5 million |
| Value CAGR (2023 to 2033) | 5.6% |
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Esterified Vitamins Market
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