Analysis of the current situation of the vitamin industry
1. The market size shows an increasing trend
The main function of vitamins is to participate in the metabolism of the body together with enzymes, and it is an indispensable nutrients in the human and animal bodies. With the development of society, people’s demand for vitamins in different industries has increased sharply, the progress of science and technology, the technological innovation of products in the vitamin industry, and the successful cases of new process synthesis are numerous
2. Market structure ratio analysis
Among the various sub-varieties of the vitamin industry, vitamin B, vitamin E, vitamin C, and vitamin A have the largest market share, 33%, 30%, 21%, and 13% respectively, and other vitamins have a small market share, accounting for only 3% of the total.
3. Vitamin C sales are the highest
Affected by the epidemic, the sales status of many vitamin categories has undergone subversive changes, some falling off a cliff, and some soaring. In 94% of pharmacies, the sales volume of vitamin C products ranks in the top three vitamin products, and the mentioned rate is much higher than that of other products, which is closely related to the consumer education and store staff education of “vitamin C can improve immunity and shorten the course of cold diseases”. According to the data from previous years, the market demand for vitamin C will increase significantly every year of the influenza outbreak.
4. Acquisition method analysis
From the perspective of how to obtain, vitamins can be divided into natural products and chemical synthetics. Because natural vitamins are limited by raw materials and extraction techniques, the yield is low and the price is high, so chemical synthesis dominates, accounting for about 80% of the total vitamin production.
The development prospects of the vitamin industry
Due to the improvement of human health awareness, per capita vitamin consumption still has a lot of room for growth, providing opportunities for the development of the vitamin market. On the other hand, the increasing aging of the world’s population will also lead to a significant increase in the demand for drugs and health products, including vitamins. Objectively, it is necessary to expand the production of drugs and health care products, which also provides an opportunity for the further development of the vitamin industry. As the main producer of vitamins in the world, China’s vitamin exports have also shown an overall growth trend in recent years. The growth in the export volume of vitamin products stems from the recognition of the quality and price of Chinese vitamin products in the international market. The huge demand for vitamin products in the international market has promoted the export of vitamin products in China and further promoted the development of the vitamin industry.
Compared with developed countries such as Europe and the United States, the raw material costs, human resource costs and fixed asset investment costs of Chinese vitamin enterprises are relatively low, which makes the products of China’s vitamin production enterprises have a cost advantage. At the same time, due to the improvement of the production process of Vitamin Enterprises in China and the increase of yield in the production process, the production cost of vitamin products has also been reduced. Cost advantage is one of the core competitiveness of China’s vitamin industry in the international market.