Vitamin B1 (Thiamine Mononitrate) market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 634.7 million in 2020. Over the next five years the Vitamin B1 (Thiamine Mononitrate) market will register a 4.9% CAGR in terms of revenue, the global market size will reach US$ 767.8 million by 2026. Vitamin B1, which a vitamin found in food and used as a dietary supplement. As a supplement, it is used to treat and prevent thiamine deficiency and disorders that result from it, including beriberi, Korsakoff's syndrome, and Korsakoff's psychosis. Other uses include maple syrup urine disease and Leigh's disease. It is taken by mouth or by injection. It is also widely used in feed industry as a supplement.
This report studies the Vitamin B1 market, which a vitamin found in food and used as a dietary supplement. As a supplement, it is used to treat and prevent thiamine deficiency and disorders that result from it, including beriberi, Korsakoff's syndrome, and Korsakoff's psychosis. Other uses include maple syrup urine disease and Leigh's disease. It is taken by mouth or by injection. It is also widely used in feed industry as a supplement.
Vitamin B1, or Thiamine normally appears as the form of Thiamine Mononitrate, or it can be converted to Thiamine Hydrochloride which is used for specific use. The report covers both Thiamine Mononitrate in its original form or its derivative Thiamine Hydrochloride. Thiamine Hydrochloride type product takes 31.22% share of global market in terms of sales volume. The price of Hydrochloride type is a bit higher than Mononitrate type, but the gap is not significant.
The Thiamine production is mainly concentrated in China. Leading suppliers in China, Brother Enterprises, Huazhong Pharma and Zhejiang Tianxin takes a majority share of global open market. DSM also produce Thiamine but mainly for captive use. Huazhong Pharma is the largest supplier in the worldwide in terms of sales volume. Brother Enterprises, Huazhong Pharma and Zhejiang Tianxin has long been competing on the export of Vitamin B1. Currently, the competitive landscape is relatively stable, with no significate capacity change or new entrance.
The price of Thiamine was around 20-30 USD/Kg during 2012 to 2014, due to the fierce competition among manufacturers. Since 2015, the manufacturers are facing pressure from environmental policy. Manufacturing cost lifted, while supply ability stagnated. The price of Thiamine increased 32% in 2015, and 42% in 2016. It is forecasted the price of Thiamine would keep high in the coming years due to the lack of supply. The Global Vitamin B1 market volume was 7791 MT in 2016 and it will be 9981 MT in 2023, with a Growth Rate of 3.60% from 2016 to 2023.
Top Key players in the Vitamin B1 (Thiamine Mononitrate) Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Vitamin B1 (Thiamine Mononitrate) Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Brother Enterprises, Huazhong Pharma, Zhejiang Tianxin, DSM and others.
Global Vitamin B1 (Thiamine Mononitrate) Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
Vitamin B1 (Thiamine Mononitrate) Market is segmented based on the type, applications, companies and regions.
By Type, Vitamin B1 (Thiamine Mononitrate) Market has been segmented into
Thiamine Nitrate Type
Thiamine Hydrochloride Type
The end user’s industry application on Vitamin B1 (Thiamine Mononitrate) Market is,
Pharmaceutical, Supplement and Cosmetics
The report offers in-depth assessment of the growth and other aspects of the Vitamin B1 (Thiamine Mononitrate) Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Vitamin B1 (Thiamine Mononitrate) Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Vitamin B1 (Thiamine Mononitrate) Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Vitamin B1 (Thiamine Mononitrate) Market for the historical period of 2017-2021 and the forecast period of 2021-2026.
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.