Market Trends of Vitamin A Industry
Increase in Demand for Fortified Foods and Beverages
There has been a marked shift in the lifestyle and dietary habits of people over the past decade. Urbanization and consumer awareness drove this shift and led to a rapid rise in the consumption of artificial food products, which in turn, increased the incidence of lifestyle diseases. The market is driven by the rise in demand for functional and nutritionally enriched processed food products and the growing incidence of vitamin deficiencies. Also, an increase in the geriatric population, healthcare expenditure, incidences of ophthalmic diseases, and healthcare awareness fuel market growth. Functional foods offer specific health benefits that are beyond the regular daily intake of nutrients, such as improved bone health, cholesterol management, improved heart health, and other benefits associated with eye health and vision. The increasing demand for nutritional and fortifying food additives is anticipated to drive market growth. Food manufacturers are deploying the fortification of nutritional additives, such as omega-3 fatty acids, fiber, and vitamins, including vitamin A and minerals, in their product offerings. The intention of incorporating the additives mentioned above in the food industry is to increase the nutritional content of food items. Various government initiatives are being introduced to increase the consumption of fortified foods and beverages, especially in developing countries like China, South Korea, and India, which is expected to propel the market growth.
Asia-Pacific Remains the Fastest-growing Region
Asia-Pacific has been witnessing healthy growth in recent years. Factors, such as improved living standards and in-depth consumer education about the consumption of health supplements infused with micronutrients, like vitamins, minerals, etc., are driving the market. The vitamin A market is growing tremendously across the region due to the growing prevalence of vitamin A deficiency diseases such as rhodopsin, a photoreceptor pigment. The three types of vitamin A include pre-formed vitamin A, provitamin A, and combined vitamin A. The wide range of applications is accomplishing the demand of consumers. The advancement in research and development (R&D) leads to an increased product launch by key market players in the vitamin A market. The rise in economic standards supported by rapid urbanization has led to a shift in consumer focus toward a healthy diet, which is another factor that may drive the market. Major factors driving the growth of the vitamin A market are an increase in government initiation to control the expansion of vitamin A deficiency disease, growing concern for healthier life among others, and the factor which hampers the growth of the vitamin A market are side effects related to the interaction of vitamin supplements with drugs and vitamin A toxicity among others. The partnerships and acquisitions by major market players act as opportunities for the growth of the vitamin A market.
