But in future North America is expected to lose out some of its share to emerging countries. Whereas Asia Pacific is projected to increase its Industry share and will grow with the highest growth rate. Asia Pacific will witness growth due to rising demand for vitamins from countries such as Japan, China, and India. Japan is the largest Industry in the Asia Pacific region but India and China will be the fastest growing Industrys. Increasing elderly population, rising health concerns, rise in GDP will be the key drivers. Key competitors in the Asia Pacific regions are Royal DSM accounted for major share of the Industry followed by BASF SE. Australia is also one of the major Industrys for vitamins.
Europe is considered to be one of the largest Industrys for vitamins and it is projected to grow at a CAGR of 8.7% from 2015 to 2022. The vitamins Industry in Europe is witnessing growth due to the constantly increasing awareness about benefits of vitamin supplements in reducing risks of diseases, including coronary heart disease, osteoporosis and other infections. In the European region, Western Europe is one of the most developed Industrys for vitamins and also regarded as the largest Industry while Eastern Europe which is a developing Industry, is considered to have future growth potential. Germany is the largest Industry in Europe with a share of more than 24% in 2014 followed France and UK with 17.5% and 13.4% share of the Industry respectively. Some of the major players in the Europe Industry are DuPont, DSM N.V and BASF SE.
Row regions are expected to grow at a CAGR of 9.1% from 2015 to 2022. This region will witness growth mainly due to rise in economic conditions. In RoW region, Brazil is the largest Industry with a share of more than 40% in 2014 and it is projected to be the highest growing Industry.
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