Latin America Vitamin D Market

Latin America Vitamin D Market Growth and Forecast (2023 - 2028):

Latin America Vitamin D Market was worth USD 0.25 billion in 2022, and is expected to grow at a CAGR of 11.2%, to reach USD 0.42 billion by 2028.

Market Overview:

Vitamins are essential for normal growth and functioning of human body. Vitamin D is a fat soluble vitamin which increases the absorption of calcium, magnesium and other minerals in the intestine. These minerals are required for healthy maintenance of bones, teeth and muscles.

Human body can acquire vitamin D through diet, through skin and from supplements. Sunlight exposure triggers synthesis of vitamin D in the body. As too much exposure to sunlight can cause cancer because of ultraviolet rays, other sources of vitamin D are preferred. Infants, growing children and senior citizens need to take vitamin D supplements. Milk, cereal, egg yolks and some fish are sources of vitamin D. Its deficiency can cause rickets in children and osteomalacia in adults.

Drivers and Restraints:

Several NGOs and government organizations are working to decrease conditions of bone deformations and malnutrition in children. Increasing awareness of people regarding the benefits of vitamin D supplements and increasing diseases due to deficiency of vitamin D due to the increase in unhealthy eating habits are expected to drive the market. Stringent regulations to prevent vitamin overdose which might be toxic are restraining the market.

Latin America Vitamin D Market Segmentation Analysis:

The Vitamin D Market is categorized based on analog, application, end user and region. Based on analog, the market is categorized into Vitamin D2 and Vitamin D3. Based on application, the market is categorized into Functional Food and Beverage, Pharmaceuticals, Animal Feed and Pet Food, Personal Care and other applications. Food and beverages is expected to be the largest market segment because of the increase in demand for vitamin supplements through food. Animal feed and pet feed are rapidly growing segments due to the increase in companion animals and demand for healthy animal feed. Based on end user, the market is categorized into Children, Adult and Pregnant Women. Infants and pregnant women are in higher need for vitamin D supplements and hence they lead the market and also due to the doctor recommendations.

Region Analysis: 

Geographically the Latin America Vitamin D Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Due to the increasing focus on healthy lifestyles and eating habits in developing countries such as Brazil and Mexico, demand for vitamin D supplements is increasing.

Key Players in the Market:

Major Key Players in the Latin America Vitamin D Market are

• Nestlé S.A
• BASF
• Pfizer, Inc
• Koninklijke DSM N.V
• ADM Alliance Nutrition, Inc
• Kraft Foods Group