Global Vitamin B3 Market is valued around USD 338.98 Million in 2020 and expected to reach USD 405.71 Million by 2027 with the CAGR of 2.60% over the forecast period.
Global Vitamin B3 Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2021-2027. Increasing demand for functional and nutritionally enriched processed food products, growing initiatives taken by the manufacturers to improve the application of niacin & vitamin B3 and rising number of product offerings are some factors driving the growth of Global Vitamin B3 Market.
Vitamin B3 is a fundamental micronutrient commercially accessible in regular and synthetic structures; it is utilized in nourishment, consumer, pharmaceutical agrochemicals, and different applications for advancement or fortification purposes, to improve the nutrient value of the final products. Vitamin B3 otherwise called nicotinic acid refers to a natural compound and is referred to be as one of the 20 to 80 fundamental human nutrients. Combining with nicotinamide it forms the group of nutrient B3 complex. It comprises of C6H5NO2 and classified under the pyridine carboxylic acids. It is available in many processed food varieties having a higher substance of fish, salmon, sustained packaged food and in specific vegetables. Vitamin B3 supplements are exceptionally valuable to individuals experiencing high blood cholesterol and niacin or vitamin B3 deficiency. The nutrient is essential for the body and its deficiency can affect skin and mouth injuries, queasiness, weakness, migraines and sleepiness. It is needed for the appropriate working of the body, as it has various medical advantages, like the actual working of the nervous system, the improvement of skin health, production of red platelets and cellular energy. Vitamin B3 in dairy steers has different advantageous impacts, for example, preventing metabolic issues, working on digestive system for better body condition.
During COVID-19 pandemic, health awareness among individuals has increased essentially which prompted more demand for items that boost immunity. A few vitamin B3 supplements with immunity properties are accessible in the market and have shown a huge demand post the coming of the novel COVID-19 to reduce the risk of the contamination. The demand for vitamin B3 preparing in the milk and dairy industry is expanding currently. However, the lockdowns and rising COVID-19 cases has impacted supply chain network. The disturbance in supply chain network has additionally prompted delays in the food supply.
Global Vitamin B3 market is segmented on the basis of type, source, form and application and region & country level. On the basis of type, the vitamin B3 market is classified as feed grade and nutrition grade. On the basis of source, the vitamin B3 market is classified as natural and synthetic. On the basis of form, the vitamin B3market is divided into dry and liquid. On the basis of application, the vitamin B3 market is classified into nutrition, consumer, and agrochemical, pharmaceutical and other.
The regions covered in global vitamin B3 market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of global vitamin B3 sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global vitamin B3 market report cover prominent players like Lonza Group AG, Jubilant Life Sciences Ltd, DSM, Vanetta, Shandong Hongda Biotechnology Co., Ltd, Lasons India, Zhejiang Lanbo Biotechnology, Tianjin Zhongrui Pharmaceutical, Vertellus, Jiangsu Brother Vitamin Co. Ltd, Gehring Montgomery, Inc., The Chemical Co., Ltd., Zhejiang Chemvplus Biotech Co., Ltd, The Western Drugs Ltd., Spectrum Chemical Mfg. Corp, and Glanbia plc, Ishita Drugs & Industries Ltd., Foodchem, NutraScience Labs, Yuki Gosei Kogyo Co., and others.
News: Cellular MD: A Bio-Advanced Skincare Line Launched Nutritional Supplements
May 24th, 2021; Dr. Ronald Moy and Erin father-daughter had introduced Cellular MD's Sol and Nox Supplements. The Sol and Nox supplements are centered on improving the body's natural patterns of heal and recovery during the day and night utilizing the perfect measures of Vitamin B3 (Niacinamide). The Sol Supplements offer a kick off to help the body's natural cortisol release and repair instruments for the duration of the day with its portion of Vitamin B3 and offers additional sun protection with Polypodium Leuctomos Extract. The Nox Supplements' Vitamin B3 is upheld by natural tranquilizers, like, valerian root, lemon balm extract, and a limited quantity of melatonin to assist with supporting the circumstance of the body's circadian rhythm.
Increasing Demand for Functional and Nutritionally Enriched Processed Food Products and Growing Number of Product Offerings are Some of the Major Factors Driving the Market Growth
One of the major factors driving the growth of global vitamin B3 market is increasing demand for functional and nutritionally enriched processed food products. Cruel processing conditions lead to loss of nutrients like vitamin B3 that are normally present in food sources, which pushes food makers to sustain their food items to reestablish these losses. Food items like dairy-based drinks, bakery items, and flours are progressively strengthened with various types of B nutrients to improve their dietary values. With the rise in health awareness and focus on preventive medical care, consumers are more inclined towards braced food varieties and for nutritionally enhanced food items. In addition, another major factor for the growth global vitamin B3 market is growing initiatives taken by the manufacturers to improve the applications of niacin & vitamin B3. Furthermore, increasing number of product offerings are also supplementing the market growth. Vitamin B3 has wide range of drug applications, principally because of the developing focal point of health awareness among peoples with respect to preventive medical services. Vitamin B3 seems to build the fertility of dairy cows and may expand milk yield in the beginning phases of lactation.
However, rising concern regarding the side effects associated with vitamin B3 may hamper the global vitamin B3 market growth. In spite of that, the growing demand for nutrition supplements can offer more opportunities for the further growth of the global vitamin B3 market over the forecast period.
Asia Pacific is Expected to Witness a Fastest Growth in the Global Vitamin B3 Market
Asia Pacific is expected to witness a fastest growth in the global vitamin B3 market due to rising prevalence of chronic diseases, increase demand of health and nutritional supplements and high prevalence of vitamin B3 deficiency among people in this region. In addition, increasing urbanization and changing consumer lifestyle are also fostering the market growth in this region. North America is expected to show a significant growth in global vitamin B3 market owing to the increasing number of product offerings in this region.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 315.2 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 379.8 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Lonza Group AG, Jubilant Life Sciences Ltd, DSM, Vanetta, Shandong Hongda Biotechnology Co., Ltd, Lasons India, Zhejiang Lanbo Biotechnology, Tianjin Zhongrui Pharmaceutical, Vertellus, Jiangsu Brother Vitamin Co. Ltd, Gehring Montgomery, Inc., The Chemical Co., Ltd., Zhejiang Chemvplus Biotech Co., Ltd, The Western Drugs Ltd., Spectrum Chemical Mfg. Corp, and Glanbia plc, Ishita Drugs & Industries Ltd., Foodchem, NutraScience Labs, Yuki Gosei Kogyo Co., and others.|
|Segments Covered||By Source, By Type, By Form, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|