GLOBAL VITAMIN D SOFT GELS MARKET SIZE (2023 -2030)

The global Vitamin D Soft Gels Market was estimated to be worth USD 1.71 Billion in 2023 & is projected to hit a value of USD 3.83 Billion by 2030, growing at a fast compound annual growth rate (CAGR) of 10.6% during the forecast period 2023-2030.

The increasing awareness about the benefits of Vitamin D, along with the rising cases of Vitamin D deficiency among the population, is driving the demand for Vitamin D supplements such as soft gels. Additionally, the rising trend of self-medication and the availability of Vitamin D soft gels over the counter is also contributing to the growth of the market. The market is further projected to be driven by the increasing adoption of Vitamin D supplements by athletes and fitness enthusiasts for their bone and muscle health.

Industry Overview:

The Vitamin D soft gels market refers to the global market for dietary supplements that contain Vitamin D in the form of soft gel capsules. Vitamin D is an essential nutrient that is necessary for the repair of healthy bones & teeth and is also significant for the proper functioning of the immune system. The soft gel form of Vitamin D supplements is preferred by many consumers due to its ease of consumption & faster absorption by the body. The market for Vitamin D soft gels is driven by increasing consciousness about the benefits of Vitamin D supplements, rising incidence of Vitamin D deficiencies, and growing demand for natural and organic supplements. The market is also influenced by factors such as product innovation, distribution channel expansion, & strategic collaborations between manufacturers & distributors. However, the market is also constrained by factors such as stringent regulatory standards, the threat of counterfeit products, & high competition from alternative sources of Vitamin D. The global Vitamin D soft gels market is projected to continue growing in the coming years, driven by increasing consumer demand for high-quality dietary supplements.

COVID-19 Impact on the Vitamin D Soft Gels Market:

The COVID-19 pandemic has had a momentous contact on the Vitamin D Soft Gels market. With the outbreak of the pandemic, there has been a growing demand for immune-boosting supplements, including Vitamin D Soft Gels, which are known to have potential benefits for the immune system. The increased consumer focus on health and wellness, along with the growing awareness of Vitamin D deficiencies, has driven demand for Vitamin D Soft Gels during the pandemic. On the other hand, the pandemic has also posed challenges to the supply chain and distribution channels of Vitamin D Soft Gels. The restrictions on international trade and travel have impacted the raw material supply and manufacturing of the product. Furthermore, the closure of brick-and-mortar stores and restrictions on non-essential businesses have affected the retail sales of Vitamin D Soft Gels. Overall, the COVID-19 pandemic has both positively and negatively affected the Vitamin D Soft Gels market, with an increased demand for the product, but also supply chain disruptions and distribution challenges.

Market Drivers:

Growing Awareness about the Health Benefits of Vitamin D helps to drive market growth:-

There is a growing awareness among people about the health benefits of vitamin D, which is driving the economic process for vitamin D soft gels in the market. Vitamin D plays a crucial role in maintaining bone health & helps in the absorption of calcium, which is important for maintaining strong bones. In addition, vitamin D also plays a role in regulating the immune system, preventing certain types of cancer, & reducing the risk of multiple sclerosis, among other health benefits. The increasing awareness about the health welfare of vitamin D is driving the demand for vitamin D supplements, including vitamin D soft gels.

The rise in the geriatric population helps to drive market growth:-

The geriatric population is growing across the world, which is driving the demand for vitamin D soft gels in the market. Older adults are more susceptible to vitamin D deficiency due to reduced sun exposure, decreased dietary intake, & reduced ability to synthesize vitamin D in the skin. Vitamin D deficiency can lead to several health problems, including osteoporosis, cardiovascular disease, and autoimmune disorders, among others. The rising geriatric population is driving the demand for vitamin D supplements, including vitamin D soft gels, which are easy to swallow and provide a convenient way to meet the daily requirement of vitamin D.

Market Restraints:

The Vitamin D Soft Gels Market's growth is being stifled by the availability of alternatives:

The Vitamin D Soft Gels market faces a stiff contest from other forms of Vitamin D supplements such as tablets, capsules, & powders. Consumers have a wide range of options to choose from, & they may switch to other choices if they find the soft gels less effective or if they prefer an unusual form.

The Vitamin D Soft Gels Market's growth is being stifled by Regulatory challenges:

The Vitamin D Soft Gels market is subject to regulatory challenges, as the production & marketing of these supplements are subject to various laws & regulations. This can result in delays or even a halt in the production or distribution of the product, leading to losses for companies operating in the market. Additionally, the regulations & laws may vary from region to region, making it difficult for companies to maintain compliance & market their products effectively.

VITAMIN D SOFT GELS  MARKET REPORT COVERAGE:

Market Segments:

This research report on the global Vitamin D Soft Gels Market has been segmented based on Type, Form, Distribution Channel, Application, and Region.

Vitamin D Soft Gels Market—By Type

• Animal-based

• Plant-based

The animal-based segment is estimated to account for the highest revenue share during the outlook period. The demand for animal-based vitamin D soft gel products is likely to rise as consumers become more aware of the amount of vitamin D found in foods. In addition, it is estimated that the affordability and accessibility of animal-based products relative to plant-based products will drive revenue growth for the segment.

The plant-based segment is estimated to register the fastest revenue CAGR during the forecast period. Demand for plant-based vitamin D products is estimated to be driven by the rising popularity of veganism and vegetarianism along with increasing environmental concerns about the effects of animal-based food production. In addition, it is estimated that the increasing availability of fortified plant-based foods such as soy milk and breakfast cereals with added vitamin D, will augment revenue growth of the segment.

Vitamin D Soft Gels Market—By Form

• Powder

• Liquid

• Tablets

• Soft Gels

• Capsules

The Vitamin D soft gels market can be segmented based on the form of the supplement, which includes powder, liquid, tablets, soft gels, & capsules. Soft gels are one of the most popular forms of Vitamin D supplements due to their ease of consumption, better absorption rates, and longer shelf life. The trend towards plant-based and organic supplements is driving the demand for Vitamin D supplements in powder and liquid form. Tablets, capsules, and soft gels are preferred by consumers who prefer a convenient and hassle-free option.  Additionally, the development of new and advanced formulations, such as Nano emulsion technology, is further driving the growth of the Vitamin D soft gels market. The powder and liquid form of Vitamin D supplements is projected to witness significant growth in the forecast period, owing to their rising popularity among health-conscious consumers who prefer clean-label, plant-based supplements.

Vitamin D Soft Gels Market – By Distribution Channel

• Supermarkets and Hypermarkets

• Health and Wellness Stores

• Online Retail

• Others

The market segmentations based on distribution channels for the Vitamin D soft gels market are supermarkets & hypermarkets, health & wellness stores, online retail, & others. The rising awareness about the health benefits of vitamin D and its essential role in bone health has been driving the demand for Vitamin D supplements in these stores. Moreover, supermarkets and hypermarkets are the most preferred channels for Vitamin D supplement sales, as these stores offer a wide range of supplements from different brands at competitive prices. On the other hand, health and wellness stores, which offer products that cater to specific health concerns, have been gaining popularity due to their ability to provide expert advice and recommendations. With the growing trend of online shopping, online retail has been emerging as a promising distribution channel for Vitamin D supplements, as it offers convenience and a wide range of products to choose from. Overall, the increasing demand for Vitamin D supplements is projected to drive the growth of these distribution channels in the coming years.

Vitamin D Soft Gels Market – By Application

• Bone Health

• Rickets Treatment

• Skin Care

• Others

The Vitamin D Soft Gels market can be segmented based on requests such as bone health, rickets treatment, skin care, & others. The bone health segment holds a significant share of the market as Vitamin D plays a crucial role in calcium absorption and bone development. Moreover, the rise in cases of osteoporosis and other bone-related disorders among the aging population has led to an increased demand for Vitamin D supplements. Additionally, the Rickets treatment segment is projected to witness growth during the forecast period owing to the increasing prevalence of Vitamin D deficiency-induced rickets among children. The skin care segment is also projected to grow due to the increasing consumer awareness regarding the role of Vitamin D in maintaining healthy skin. In recent years, there has been a rise in the development of innovative products with Vitamin D for skin care applications. Overall, the increasing awareness regarding the benefits of Vitamin D and its widespread use in various applications is projected to drive the growth of the Vitamin D Soft Gels market.

Vitamin D Soft Gels Market – By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

The global market for Vitamin D soft gels is segmented into North America, Europe, Asia Pacific, & the rest of the world. North America holds the largest share of the market, owing to the high awareness and consumption of supplements, increasing geriatric population, and rising prevalence of chronic diseases. The market in Europe is also projected to witness significant growth due to the presence of major players, high demand for supplements, and increasing focus on preventive healthcare. In the Asia Pacific region, the market is projected to witness significant growth due to the rising health awareness, increasing geriatric population, and increasing disposable income. The rest of the world segment is also projected to witness moderate growth due to the increasing demand for dietary supplements and increasing prevalence of chronic diseases. Overall, the global Vitamin D soft gels market is projected to witness steady growth in the coming years, driven by increasing health consciousness among consumers and rising demand for preventive healthcare.

Major Key Players in the Market:

1. Nature Made

2. NOW Foods

3. Garden of Life

4. Solgar

5. NutriGold

6. Pure Encapsulations

7. Nordic Naturals

8. Country Life

9. Bluebonnet Nutrition

10. Jarrow Formulas

Market Insights and Developments:

• In August 2020, Carlson Laboratories launched a new Vitamin D3 Gummies product, which is designed to provide a delicious and convenient way to get a daily dose of Vitamin D. The gummies are available in natural fruit flavors & contain 1,000 IU of Vitamin D3 per serving. The launch of this product reflects the growing demand for Vitamin D supplements in an easily consumable format.

• In January 2021, Nature’s Bounty launched a new line of Vitamin D supplements in softgel & gummy formats. The supplements are available in various strengths, ranging from 1000 IU to 5000 IU, to meet the varying needs of consumers. The launch of this product line reflects the increasing awareness of the benefits of Vitamin D and the growing demand for supplements that can support overall health & wellness.

• In June 2021, Nature Made announced the launch of its new line of Vitamin D3 supplements in softgel & gummy formats. The supplements are available in various strengths, ranging from 400 IU to 5000 IU, to meet the varying needs of consumers. The launch of this product line reflects the increasing demand for Vitamin D supplements &  the growing awareness of the role of Vitamin D in supporting immune health, bone health, & overall wellbeing.