Growth Opportunities in Vitamin and Mineral Ingredients for Human Nutrition, Global, 2024 2030

Revenue and Unit Shipment Forecast

Vitamin and Mineral Ingredients: Revenue and Volume Forecast, Global, 2021–2030
Revenue CAGR, 2023–2030 = 4.8%
Volume CAGR, 2023–2030 = 3.9%

The Impact of the Top 3 Strategic Imperatives on the Vitamin and Mineral Ingredients Industry

Geopolitical Chaos

• Why: Most vitamin ingredient prices declined between 2021 and 2023 owing to slower demand from downstream end-use industries resulting from consumer discretionary spending.
• Frost Perspective: Companies must focus on their sourcing strategies; local and dual-sourcing strategies in the vitamin and mineral ingredients industry would mitigate some supply chain challenges. Adopting digital tools and technologies to help manage inventory and forecast supply and demand volatility can offer a competitive edge in the highly volatile vitamin and mineral ingredients market. Companies must optimize production processes to adapt to evolving market dynamics.

   

Transformative Megatrends

• Why: After the COVID-19 pandemic, consumer focus shifted to holistic health, driving demand for solutions offering more specific health benefits beyond immunity. The growing trend of personalized and precision nutrition will impact the consumption pattern during the forecast period, driving the need for highly personalized nutraceuticals and personal care products.
• Frost Perspective: Companies, especially nutraceutical and personal care formulators, must reinvent their business models and offerings to meet evolving consumer requirements for more personalized solutions. Companies must adapt to next-generation technological advancements to remain competitive. Ingredient suppliers must expand R&D investments to offer high-quality, clinically backed ingredients to ensure competitive differentiation.

   

Industry Convergence

• Why: The vitamin and mineral ingredient market will see increased competitiveness due to convergence. Factors such as a higher level of market maturity, rapidly changing consumer requirements, and supply chain bottlenecks will drive value chain participants to adopt partnerships and/or acquisition strategies during the forecast period.
• Frost Perspective: Collaboration between nutraceutical and technology companies will expand to offer integrated health and wellness solutions. To overcome supply chain challenges and gain a competitive edge, a higher level of forward and backward vertical integration will occur during the forecast period. companies not actively pursuing these strategies could lose their footing in the market.

   

Scope of Analysis

• The research scope provides market estimates for vitamin and mineral ingredients for human nutrition applications. The market is estimated at the tier of ingredient manufacturers’ level and indicates the industry’s B2B dynamics.

• By product: The market is categorized into vitamins and minerals.
• By application: The vitamin and mineral ingredient market is categorized into food and beverages (F&B), dietary supplements, specialized nutrition, personal care and cosmetics, and pharmaceuticals.
• Frost & Sullivan’s forecast is based on the growth trends of vitamin and mineral ingredients across different regions. The study’s geographic scope is global and includes the following regions:
  • North America (NA): The United States and Canada
  • Europe: The European Economic Area and European Trade Association states (including the United Kingdom)
  • Asia-Pacific (APAC): China, Japan, and the rest of APAC—India, Australia, New Zealand, South Korea, Association of Southeast Asian Nations countries (Indonesia, Thailand, Singapore, Malaysia, the Philippines), and South Asian countries (Pakistan, Bangladesh, Sri Lanka, Nepal)
  • Latin America (LATAM): All LATAM countries, including Mexico
  • The Middle East and Africa (MEA): Africa and all Middle Eastern countries, including Turkey

Segmentation

The Vitamin Market

• By Type
  • Vitamin A
  • Vitamin C
  • Vitamin D
  • Vitamin E
  • Vitamin K (K1 and K2)
  • B vitamins
    • B1 (thiamin)
    • B2 (riboflavin)
    • B3 (niacin)
    • B5 (pantothenic acid)
    • B6
    • B7 (biotin)
    • B9 (folic acid)
    • B12
• By Application
  • F&B
  • Dietary supplements
  • Personal care
  • Pharmaceuticals
  • Specialized nutrition
• By Region
  • NA
  • Europe
  • APAC
  • LATAM
  • MEA

The Mineral Market

By Type

• Calcium

• Iron
• Magnesium
• Potassium
• Zinc

By Form

• Inorganic
• Organic
• Chelates

By Application

• F&B
• Dietary supplements
• Personal care
• Pharmaceuticals
• Specialized nutrition

By Region

• NA
• Europe
• APAC
• LATAM
• MEA

Competitive Environment

Key Competitors 

Vitamins

• dsm-firmenich
• The Archer-Daniels-Midland Company (ADM)
• BASF
• Jubilant Ingrevia Limited
• Glanbia Nutritionals
• Jiangxi Tianxin Pharmaceutical Co., Ltd.
• North China Pharmaceutical Co., Ltd (NCPC)
• Northeast Pharmaceutical Group Co. (NEPG)
• CSPC Weisheng Pharma Co., Ltd (CSPC)
• International Flavors & Fragrances, Inc. (IFF)
• Gnosis by Lesaffre
• Shandong Luwei Pharmaceutical Co., Ltd.
• Zhejiang Medicine Co., Ltd (ZMC)
• Zhejiang NHU Co., Ltd (NHU)
• BTSA
• AIDP Inc.
• Kensing LLC
• Shanghai Freeman, LLC

Minerals

• IFF
• Balchem
• J.M. Huber Corporation
• Omya AG
• Jungbunzauer Suisse AG
• Dr. Paul Lohmann GmbH & Co. KGaA
• Corbion N.V.
• Minerals Technologies Inc. (MTI)
• LALLEMAND Group (ISALTIS and MACCO ORGANIQUES)
• ICL Group
• Gadot Biochemical Industries Ltd
• Jubilant Ingrevia Limited
• Glanbia Nutritionals
• Lonza
• Sami-Sabinsa Group