Riboflavin Market, By Form (Powder and Liquid), By Source (Plant and Animal), By Application (Food and Beverages, Dietary Supplements, Pharmaceutical, Animal Feed, Personal Care, and Others), By Geography (North America, Latin America, Asia Pacific, Europ

Riboflavin Market, By Form (Powder and Liquid), By Source (Plant and Animal), By Application (Food and Beverages, Dietary Supplements, Pharmaceutical, Animal Feed, Personal Care, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Riboflavin, also known as vitamin B2, is an essential nutrient required by the human body for growth and development. It plays a vital role in various metabolic processes through its involvement as a precursor for flavin mononucleotide and flavin adenine dinucleotide. As a water-soluble vitamin, riboflavin needs to be supplemented through diet. It is naturally present in a variety of foods including milk, eggs, meat, leafy green vegetables, mushrooms, and legumes. Deficiency of riboflavin can lead to health issues like cracks at the corners of the mouth, inflammation of the mouth, sore throat, itchy skin, and seborrheic dermatitis. Due to growing health awareness and increasing demand for nutritional supplements, global riboflavin can witness growth in the near future.

Market Dynamics-

Global riboflavin market growth is driven by factors such as increasing consumer preference for nutritional supplements, growing health consciousness, rising cases of riboflavin deficiencies, and expanding food & beverage industry. However, high costs associated with natural extraction of riboflavin from foods and synthetic production can hamper the market growth. Novel applications of riboflavin as an additive in pharmaceuticals, cosmetics and animal feed can present new avenues for market expansion. However, the market faces certain restraints due to presence of riboflavin in many routine foods. Strict regulatory norms governing dietary supplements can hamper the market growth. Increasing adoption of vegan and vegetarian diets as riboflavin intake can be challenging through a non-meat diet can offer growth opportunities. Product innovation leading to enhanced formulations presents another favorable growth prospect.

Key Features of the Study-

• This report provides in-depth analysis of the global riboflavin market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global riboflavin market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include BASF SE, Koninklijke DSM NV, Shanghai Acebright Pharmaceuticals Group Co. Ltd., Xinfa Pharmaceutical Co. Ltd, Hubei Guangji Pharmaceutical Co. Ltd, NB Group Co. Ltd, Hegno, Legend Industries, Hebei Shengxue dacheng Pharmaceutical Co. Ltd, Duchefa Biochemie, and Harman Finichem Ltd
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global riboflavin market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global riboflavin market

Market Segmentation

• Form Insights (Revenue, USD, 2019 - 2031)
• Powder
• Liquid
• Source Insights (Revenue, USD, 2019 - 2031)
• Plant
• Animal
• Application Insights (Revenue, USD, 2019 - 2031)
• Food and Beverages
• Dietary Supplements
• Pharmaceutical
• Animal Feed
• Personal Care
• Others
• Regional Insights (Revenue, USD, 2019 - 2031)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• BASF SE
• Koninklijke DSM NV
• Shanghai Acebright Pharmaceuticals Group Co. Ltd.
• Xinfa Pharmaceutical Co. Ltd
• Hubei Guangji Pharmaceutical Co. Ltd
• NB Group Co. Ltd
• Hegno
• Legend Industries
• Hebei Shengxue dacheng Pharmaceutical Co. Ltd
• Duchefa Biochemie
• Harman Finichem Ltd