Industry Outlook
The retinol (vitamin A) market is set to grow at a steady pace with a compounded annual growth rate (CAGR) of 4.8% during the forecast period from 2023 to 2030. Retinol is enlisted in the World Health Organization (WHO) list of essential medicines. It is very useful in maintaining healthy eyesight, skin and immune system. A three pronged approach is used to treat vitamin A deficiency. Feed vitamin A enriched food in daily diet, enrich staple food with synthetic vitamin A, a process called as fortification and provide high dose of vitamin A to the targeted deficient population which is known as supplementation.
"Excellent pharmacodynamic and pharmacokinetic effect propel the synthetic retinol market growth"
Natural retinol is obtained from sources such as sweet potatoes, carrots, apricots, oranges, eggs, meat and dairy products. Daily intake of retinol in diet is beneficial in maintaining healthy skin and eyesight. They are present in very small quantities in daily dietary intake which led to the demand for synthetic retinol. Adapalene, tazarotene and isotretinoin are a few examples of synthetic retinol used commercially in cosmetic and pharmaceutical products. The factors responsible for their increasing demand are excellent pharmacodynamic and pharmacokinetic properties possessed by synthetic retinol.
"Increasing number of people suffering with acne and atopic dermatitis drive the cosmetic products market growth"
In the present scenario cosmetic products dominate the applications segment for retinol (vitamin A) market. The key factors responsible for the burgeoning requirement of retinol containing cosmetic products are rising prevalence of acne and atopic dermatitis. Scientist have validated the fact that decreased serum levels of retinol are present in patients suffering with skin diseases. Retinoid are beneficial in treating acne and atopic dermatitis by unclogging the skin pores and enhance the penetration of drug molecules present in gels and cream formulations. In pharmaceutical industry they are manufactured as soft gel capsules, eye drops and injectable to treat eye disorders such as night blindness, corneal ulcers and conjunctival xerosis etc. Fortified food will be garnering magnificent growth during the forecast period on account of rising public health awareness and flourishing food and dietary supplement industry. Animal feed is enriched with retinol to build immunity and maintain the necessary circadian rhythm necessary in livestock and poultry animals.
"Rising prevalence of eye and skin disorders to drive the retinol (vitamin A) market in North America"
North America is currently leading the geographical segment for retinol (vitamin A) market. As per the research findings of Center for Disease Control and Prevention (CDC), approximately 3.3 million American citizens are blind or are suffering with low vision. The factors responsible for the dominance of North America are rising prevalence of skin and eye disorders. According to the statistics provided by British Association of Dermatologist in Europe the prevalence rate of common diseases are warts (41.3%), contact dermatitis (15.0%) and acne (19.2%). The prevalence rate of these skin disease is higher in the women population in comparison to men. Domicile of key players such as Sigma-Aldrich, Adisseo, DSM and Bausch & Lomb incorporated etc., provide cosmetic products enriched in retinol to fight skin disease in Europe. Asia Pacific is set to register excellent growth during the forecast period 2023 to 2030 on account of factors such as flourishing livestock and poultry industry. Emergence of local manufacturers impose stiff competition to major players providing fortified food products enriched with retinol.
The biotechnology companies manufacturing retinol (vitamin A) are Adisseo, BASF SE, Bausch & Lomb Incorporated, CooperVision, Ion Labs, Inc., DSM, Riken Vitamin Co., Ltd., Seidler Chemical Co, Inc., Sigma-Aldrich and Zhejiang NHU Co., Ltd.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Retinol (Vitamin A) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
