The global water soluble vitamins market size is expected to reach US$ 4.8 Billion in 2022 and is likely to exhibit growth at a CAGR of 5.3% in the forthcoming years (2022-2032). Rising consumption of livestock by-products and growing dietary requirements are likely to push sales of water soluble vitamins in future. As per FMI, the global water soluble vitamins market is set to be valued at US$ 9.7 Billion in 2032.
| Report Attribute | Details |
| Water Soluble Vitamins Market Estimated Base Year Value (2021) | US$ 3.1 Billion |
| Water Soluble Vitamins Market Expected Market Value (2022) | US$ 4.8 Billion |
| Water Soluble Vitamins Market Anticipated Forecast Value (2032) | US$ 9.7 Billion |
| Water Soluble Vitamins Market Projected Growth Rate (2022-2032) | 5.3% CAGR |
Water soluble minerals and vitamins are extensively used in animal feed. These can be fed to animals by putting and dissolving in water. These supplements are mainly provided to monogastric animals as they can easily consume water-based vitamins.
The demand for water soluble vitamins is projected to surge at a fast pace in the near future backed by their ability to enhance the overall performance, well-being, and growth of the livestock. These vitamins are provided to farm animals externally in the form of premixes, as well as feed additives.
Increasing prevalence of various chronic diseases in livestock and high demand for good quality meat are some of the major factors contributing to growth in this market. In addition to that, changing demographics structure and ongoing expansion of the animal meat sector worldwide are likely to push the market.
The high demand for protein-rich food in both developed and developing countries, primarily driven by the rising health consciousness among consumers, is likely to propel the global water soluble vitamins market growth. The rising consumer preference for low-fat diets to prevent the occurrence of various diseases is another crucial factor that is expected to bode well for the market.
The increasing consumption of processed pork and poultry meat is also set to augment the market. As per the Food and Agriculture Organization of the United Nations (FAO), in 2020, around 337.2 million tons of meat was produced worldwide and the global meat exports reached 38.7 million tons in the same year. These numbers are likely to grow at a fast pace in the upcoming years, thereby fostering the market.
In underdeveloped countries, farmers are not aware of the availability of feed additives, such as water soluble vitamins for increasing the performance of their livestock. This factor may negatively influence growth in the assessment period. Besides, the growing trend of veganism in various parts of the globe is expected to decline the demand for meat and eggs. This is another major factor that is likely to obstruct the sales of water soluble vitamins in future.
Based on region, Asia Pacific is expected to lead in the evaluation period by procuring the largest water soluble vitamins market share. Increasing government investments to encourage organized farming practices in the aquaculture, swine, and poultry industries across India and China are set to augment the regional market.
Farmers in these countries are increasingly adopting water soluble vitamins to provide coenzyme and metabolism production in livestock, as well as to surge immunity against various diseases. Also, the requirement of these vitamins is expected to grow at a rapid pace in Asia Pacific as they help in the usage and absorption of feed nutrients so that animals can have healthy growth.
Ongoing changes in the food consumption pattern of consumers across the U.S. and Canada are set to push the North America water soluble vitamins market size. High demand for pork meat in these countries, mainly driven by the easy availability of the product through multiple sales channels, is a vital factor that would drive growth.
Moreover, the rising trend of consuming food outside homes and increasing working population in these countries are set to accelerate the market. Various benefits associated with pork meat, such as a rich source of vitamins and proteins is another factor that is anticipated to push the North America market.
Some of the renowned companies operating in the global water soluble vitamins market include Royal DSM N.V., Lonza Group AG, North China Pharmaceutical Corporation, InVivo Group, BASF SE, Nutreco N.V, Fermenta Biotech Ltd., Kemin Industries, Inc., Alltech, Inc., Sanofi Zhejiang Medicine Company Ltd, DLG Group, Blue Star Adisseo Co., CSPC Pharmaceutical Group Limited, Archer Daniels Midland Company, Vertellus Specialties Inc., and Top of Form among others.
The majority of the leading players in the market are striving to gather large consumer bases by investing more in new product development. They are introducing unique ingredients to cater to the surging demand from end-use industries across the globe. Meanwhile, some of the other companies are aiming to broaden their geographic presence in untapped regions by opening new production facilities, as well as acquiring local firms.
| Report Attribute | Details |
| Growth Rate | CAGR of 5.3% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Customization | Available Upon Request |
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The global water soluble vitamins market is set to exceed US$ 9.7 Billion in 2032.
Asia Pacific is set to lead the water soluble vitamins market in the forecast period.
Royal DSM N.V., Lonza Group AG, North China Pharmaceutical Corporation, InVivo Group, BASF SE, Nutreco N.V, and Fermenta Biotech Ltd. are some of the renowned companies in the water soluble vitamins market.
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Water Soluble Vitamins Market
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