Global Vitamin B3-B4 Market (2023 Edition)

Global Vitamin B3-B4 Market (2023 Edition): Analysis By Vitamin Type (Vitamin B3, Vitamin B4), Formulation (Dry, Liquid), By Application, By Region, By Country: Market Insights and Forecast (2018-2028)

Executive Summary

Azoth Analytics has released a research report titled “Vitamin B3-B4 Market (2023 Edition)” which provides a complete analysis of the global Vitamin B3-B4 industry in terms of market segmentation Vitamin Type (Vitamin B3, Vitamin B4), By Formulation (Dry, Liquid), By Application (Animal Feed, Human Food, Cosmetic & Pharmaceuticals), By Region and By Country for the historical period of 2018-2022, the estimates of 2023 and the forecast period of 2024-2028.

The research report covers a detailed analysis of the regions (Americas, Europe, APAC, Middle East Africa) and 10 countries (United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, Japan, India). Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.

The research study also assesses market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market's evolution. During the forecast period, 2024-2029, the Global Vitamin B3-B4 market is expected to grow at a CAGR of 5.52%. The Global Vitamin B3-B4 Market is expected to generate USD 785.8 Million by the end of 2029, up from USD 564.55 Million in 2022.

The current global demographic landscape is undergoing a significant transformation, characterized by a growing percentage of elderly individuals within the population. As the ageing trend continues, there is a heightened focus on maintaining health and vitality throughout the ageing process, emerging as a substantial priority. Nutrition plays a pivotal role in achieving these objectives, as dietary habits directly impact the overall well-being and quality of life among the elderly. This has led to an increased demand for vitamins B3 and B4.

Poverty frequently results in restricted availability of a wide variety of dietary options. Populations that depend on staple foods such as maize, which may be deficient in niacin and tryptophan, face a higher susceptibility to pellagra. This may increase demand for vitamin B3 supplements or fortified meals to fill nutritional shortages. Moreover, Vitamin B complex is frequently recommended to enhance energy levels, alleviate stress, elevate mood, and alleviate symptoms of anxiety or depression, which contributes to market growth.

Scope of the Report

• The report analyses the Vitamin B3-B4 Market by Value (USD Million).
• The report presents the analysis of the Vitamin B3-B4 Market for the historical period of 2018-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Vitamin B3-B4 Market by Application (Animal Feed, Human Food, Cosmetics & Pharmaceuticals).
• The report analyses the Vitamin B3-B4 Market by Vitamin Type (Vitamin B3, Vitamin B4)
• The report analyses the Vitamin B3-B4 Market by Formulation (Dry, Liquid).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Application, By Vitamin Type and by Formulations.
• Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Lonza, Aurorium, Brother Enterprises Holding Co., Ltd., Shandong Hongda Biotechnology Co., Ltd., Mianyang Vanetta Chemical Industrial Co., Ltd., Jubilant Ingrevia Ltd., Eastman Chemical Company, Lasons India Pvt. Ltd, Glanbia plc, and Merck.