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The scale and sales volume of the vitamin market continue to expand
2023/8/25
Vitamins are important nutrients, and the domestic market is in a rapidly developing stage. Vitamins are beneficial for protecting and enhancing the body and supplementing the necessary elements for the human body. In recent years, the market size and sales of vitamins have shown a continuous expansion trend.
Vitamins are a class of organic compounds essential for maintaining physical health. This type of substance is neither a raw material that constitutes body tissue nor a source of energy in the body, but a regulatory substance that plays an important role in material metabolism. In 2021, China's vitamin market share was relatively high at vitamin B33%.
In recent years, in order to promote the development of the vitamin industry, China has issued multiple relevant policies to support, encourage, and regulate the vitamin industry. For example, the National Development and Reform Commission has issued the "Catalogue of Industries Encouraging Foreign Investment (2020 Edition)", which encourages the development and production of safe, efficient, and environmentally friendly feed and feed additives (including vitamins and methionine), as well as alternative products for animal growth promotion using antibacterial drugs.
The main function of vitamins is to participate in the metabolism of the body together with enzymes, and they are indispensable nutrients in human and animal bodies. With the development of society, technological progress, technological innovation of products in the vitamin industry, and numerous successful cases of new process synthesis, the development prospects of China's vitamin industry are also vast. According to market analysis data on the vitamin industry, the size of China's vitamin market reached 3.75 billion US dollars in 2021, equivalent to RMB 26.089 billion. The market analysis of the vitamin industry predicts that the size of China's vitamin market will reach 27.133 billion yuan in 2023.
According to market analysis data of the vitamin industry, in 2022, China's total vitamin production was 638000 tons, a year-on-year increase of 4.7%. Among them, the production of water-soluble vitamins was 615000 tons, a year-on-year increase of 5.1%, accounting for 96.4% of the total production; The production of fat soluble vitamins was 23000 tons, a year-on-year decrease of 3.4%, accounting for 3.6% of the total production. From the perspective of various categories, B vitamins are the largest category of vitamin production in China, with a production of 469000 tons in 2022, a year-on-year increase of 6.8%, accounting for 73.5% of the total production. Next is vitamin C, with a production of 109000 tons in 2022, a year-on-year decrease of 0.9%, accounting for 17.1% of the total production. Once again, vitamin E, with a production of 20000 tons in 2022, an increase of 4.2% year-on-year, accounting for 3.1% of the total production. Other categories such as vitamin A, D, K, etc. have relatively small yields, accounting for less than 6% of the total yield.
Analysis of Vitamin Market Prospects
Market analysis of the vitamin industry shows that with the progress of technology and the increase in research and development investment, new types of vitamin products are constantly emerging. For example, efficient absorption of vitamin derivatives, customized vitamin regimens, etc. have all received consumer attention. These innovative products help broaden the vitamin market and meet the needs of different consumers.
The development of China's vitamin industry is supported by government policies. The government is vigorously promoting the improvement of people's nutritional levels and encouraging consumers to purchase more vitamin products. In addition, the government is also supporting and encouraging enterprises to increase research and development investment to meet consumers' demand for higher quality products. On a global scale, population aging is a common trend. As one ages, the human body's demand for vitamins also increases accordingly. Elderly people usually need additional vitamin supplements to maintain health and prevent age-related diseases, which provides growth opportunities for the vitamin market.
Due to people's increasing emphasis on health, the demand for vitamins in the industry is also increasing, which is one of the reasons for the expanding market size of China's vitamin industry. With the continuous improvement of social development level, consumers' attention to healthy diet is also increasing. Consumers are starting to pay more attention to nutritional balance and vitamin intake, which also provides huge market space for the vitamin industry.
Vitamins are a class of organic compounds essential for maintaining physical health. This type of substance is neither a raw material that constitutes body tissue nor a source of energy in the body, but a regulatory substance that plays an important role in material metabolism. In 2021, China's vitamin market share was relatively high at vitamin B33%.
In recent years, in order to promote the development of the vitamin industry, China has issued multiple relevant policies to support, encourage, and regulate the vitamin industry. For example, the National Development and Reform Commission has issued the "Catalogue of Industries Encouraging Foreign Investment (2020 Edition)", which encourages the development and production of safe, efficient, and environmentally friendly feed and feed additives (including vitamins and methionine), as well as alternative products for animal growth promotion using antibacterial drugs.
The main function of vitamins is to participate in the metabolism of the body together with enzymes, and they are indispensable nutrients in human and animal bodies. With the development of society, technological progress, technological innovation of products in the vitamin industry, and numerous successful cases of new process synthesis, the development prospects of China's vitamin industry are also vast. According to market analysis data on the vitamin industry, the size of China's vitamin market reached 3.75 billion US dollars in 2021, equivalent to RMB 26.089 billion. The market analysis of the vitamin industry predicts that the size of China's vitamin market will reach 27.133 billion yuan in 2023.
According to market analysis data of the vitamin industry, in 2022, China's total vitamin production was 638000 tons, a year-on-year increase of 4.7%. Among them, the production of water-soluble vitamins was 615000 tons, a year-on-year increase of 5.1%, accounting for 96.4% of the total production; The production of fat soluble vitamins was 23000 tons, a year-on-year decrease of 3.4%, accounting for 3.6% of the total production. From the perspective of various categories, B vitamins are the largest category of vitamin production in China, with a production of 469000 tons in 2022, a year-on-year increase of 6.8%, accounting for 73.5% of the total production. Next is vitamin C, with a production of 109000 tons in 2022, a year-on-year decrease of 0.9%, accounting for 17.1% of the total production. Once again, vitamin E, with a production of 20000 tons in 2022, an increase of 4.2% year-on-year, accounting for 3.1% of the total production. Other categories such as vitamin A, D, K, etc. have relatively small yields, accounting for less than 6% of the total yield.
Analysis of Vitamin Market Prospects
Market analysis of the vitamin industry shows that with the progress of technology and the increase in research and development investment, new types of vitamin products are constantly emerging. For example, efficient absorption of vitamin derivatives, customized vitamin regimens, etc. have all received consumer attention. These innovative products help broaden the vitamin market and meet the needs of different consumers.
The development of China's vitamin industry is supported by government policies. The government is vigorously promoting the improvement of people's nutritional levels and encouraging consumers to purchase more vitamin products. In addition, the government is also supporting and encouraging enterprises to increase research and development investment to meet consumers' demand for higher quality products. On a global scale, population aging is a common trend. As one ages, the human body's demand for vitamins also increases accordingly. Elderly people usually need additional vitamin supplements to maintain health and prevent age-related diseases, which provides growth opportunities for the vitamin market.
Due to people's increasing emphasis on health, the demand for vitamins in the industry is also increasing, which is one of the reasons for the expanding market size of China's vitamin industry. With the continuous improvement of social development level, consumers' attention to healthy diet is also increasing. Consumers are starting to pay more attention to nutritional balance and vitamin intake, which also provides huge market space for the vitamin industry.
Overall, the improvement of health awareness and the intensification of population aging have promoted the release of demand in the vitamin market, and the emphasis on healthy diet has broad prospects for the vitamin market.
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