Niacin (Vitamin B3) Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises

The niacin (Vitamin B3) market was valued at USD 171.9 million in 2019 and is also anticipated to grow at the highest CAGR of 2.9%, in terms of value, during the forecast period. (2022-2027)

Niacin (Vitamin B3) Market Overview

Factors such growth in demand for functional and nutritionally enriched processed food products, feed fortification due to a rise in global meat & dairy product consumption, Prevalence of vitamin B3 deficiency has driven the market for vitamin B3 into further growth. increased concerns about meeting the daily nutritional value with the consumption of processed food products, the growth in the demand for vitamins is mostly from the food industry. Harsh processing conditions lead to loss of nutrients such as vitamin B3 that are naturally present in foods, which pushes food manufacturers to fortify their food products to restore these losses. With the rise in health consciousness and focus on preventive healthcare, consumers are opting for fortified foods and are willing to pay for nutritionally enriched food products. With the consumption of processed food products and a concern of meeting the daily requirement of nutritional food value, the growth in the demand for vitamins is primarily from the food industry. Harsh processing conditions result in loss of nutrients like Vitamin B3 which are naturally there in the foods, which pushes the manufacturers of food to strengthen their food products to restore their loss. Due to focus on preventive healthcare and rise in heath consciousness, consumers are preferring strengthen foods and are willing to pay for nutritionally rich foods. 

Who are the Major Players in Niacin (Vitamin B3) Market?

The Niacin (Vitamin B3) Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises, Zhejiang Lanbo Biotechnology, Lasons India, Vanetta, DSM, Tianjin Zhongrui Pharmaceutical, Resonance Specialties and others.

Recent Developments-

• DuPont Nutrition & Health and Lonza Specialty Ingredients announced a joint agreement in HMO. Dupont has engaged deliberately with Lonza to be able to accelerate commercialization and offer high-quality HMOs to customers. The collaboration with Lonza played a key role in developing a business growth strategy and offering high-quality consumer health and wellness products. 


• Lonza has acquired a sterile fill manufacturing ability from Novartis (Switzerland). The company plans to manufacture healthcare and nutrition ingredients in the facilities. This enables it to offer products in larger volumes to the customers.

Market Dynamics-

Formation of regulatory control on supplement intake limit

With rising global demand for meat, milk, and eggs, livestock owners utilise vitamin B3 feed additives unrestrictedly to boost cattle weight, productivity,and reproductive health. Because vitamin B3 is used in cattle to improve disease resistance and yield metrics, a high dose of vitamin B3 in these by-products is harmful to animal, human, and environmental health.

Both completed dietary supplement products and dietary ingredients are regulated by the FDA. Dietary supplements are governed by a separate set of rules than "ordinary" foods and drugs, according to the FDA. Dietary Supplement Health and Education Act (DSHEA) (DSHEA).

Greater demand for nutrition supplements for monogastric animals

Because monogastric animals are unable to generate vitamin B complex molecules in the same way that ruminants do, there is a high demand for vitamin supplements in this industry. Due to the structured expansion of these sectors, key businesses are establishing a market presence in the poultry and swine industries. These industries are expected to grow faster in emerging markets such as Asia Pacific and Latin America.

What are the major Applications, Types and Regions for Niacin (Vitamin B3) Market?

Niacin (Vitamin B3) Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented int

• Pharmaceutical Grade


• Feed Grade

By Applications it is segmented into

• Feed Additives


• Food and Drinks Industry


• Pharmaceutical Industry


• Daily Chemicals

Niacin (Vitamin B3) Market Regional Analysis-

Asia Pacific is the fastest-growing market during the forecast period in the global Vitamin B3

China, India, Japan, and the Rest of Asia Pacific are the most important markets in the Asia Pacific area. Because of people's changing lifestyles, the processed food business in the Asia Pacific region is growing. Due to continual changes in consumer preferences, growing urbanisation, diet diversity, and the legalisation of foreign direct investment in the food sector, it is also extremely dynamic. Furthermore, rising income levels and significant consumer demand for nutritional and healthy products are expected to provide promising prospects for the growth and diversification of the region's functional food and beverage products, leading to an increase in the depletion of vitamin-infused products and thus driving market growth.

The report offers in-depth assessment of the growth and other aspects of the Niacin (Vitamin B3) Market in important regions, including the 

North America

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  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

What is our Niacin (Vitamin B3) Market report scope?

Key Takeaways from this Niacin (Vitamin B3) Report

• Evaluate Niacin (Vitamin B3) market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.


• Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.


• Analyze the sales and distribution channels across key geographies to improve top-line revenues.


• Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Niacin (Vitamin B3) market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

FAQ -

What is the study period of this market?

The Niacin (Vitamin B3) Market is studied from 2017 - 2027.

 What is the growth rate of Niacin (Vitamin B3) Market?

The Niacin (Vitamin B3) Market is growing at a CAGR of 2.9% over the next 5 years.

What regions does this Niacin (Vitamin B3) Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.