Vitamin B12 Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	100 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185614

Best Price Guarantee
Price	from $4,850
Length	100 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185614

Vitamin B12 Market

Growth Factors of Vitamin B12 Market

The vitamin B12 market size was valued at USD 194.3 million in 2023, and the market is now projected to grow from USD 205.0 million in 2024 to USD 346.6 million by 2032, exhibiting a CAGR of 6.8% during the forecast period of 2023-2030.

The COVID-19 pandemic created significant opportunities on the vitamin B12 market growth as curbing coronavirus outbreak was prioritized. The vitamin B12 products called for across the globe changed into multiplied as those are considered one of the immune-boosting vitamins. The players manufacturing those complements had procured a large amount of API, and the marketplace witnessed a boom.

The vitamin B12 share globally has been contributed due to the growing health awareness. Growing demand for purposeful ingredients and drinks and the fashion of fortifying vitamins and minerals in strength bars and drinks are anticipated to propel the market growth for the duration of the forecast duration.

Furthermore, there’s been a notable trend of surge in strategic initiatives. In recent years, the demand for nutritional dietary supplements and fortified meals consisting of diet B12 has elevated appreciably. In addition, groups are strategically aligning their efforts to meet this call for with the growing awareness of nutrients in maintaining standard health.

Comprehensive Analysis of Vitamin B12 Market

The vitamin B12 market and pharmaceutical industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmaceutical industry. These segmentations are methodically segregated by types of type, application, and end user. The types include, Cyanocobalamin, Methylcobalamin, Adenosylcobalamin, and Hydroxocobalamin. However, the applications are such as Food Grade, Pharmaceutical Grade, and Feed Grade. Lastly, by end-user they are, Pharmaceutical Industry, Food & Nutraceuticals Industry, and Others.

The Asia Pacific region is conducive to the global vitamin B12 market, leading to a recall of USD 113.0 million owing to high prevalence of diabetic neuropathy. The increase inside the geriatric population and growing attention concerning fitness dietary supplements are the factors predicted to drive the vicinity’s growth. Moreover, the presence of key players and their developing manufacturing capacities are poised to noticeably make contributions to the region’s market growth over projected years.

The top players in the market play a crucial role in the pharmaceutical industry assuring industrial prospectus growth and setting market standards. These players include, EUROAPI (France), CSPC Pharmaceutical Group Co., Ltd. (China), Ningxia Kingvit Pharmaceutical (China), Pharmavit (Netherlands), and NCPC INTERNATIONAL CORP. (China) these market players provide a level-playing competitive landscape.

In February 2024, Lupin Limited released Cyanocobalamin Nasal Spray (500 mcg/spray, One Spray in line with Device) for sufferers with pernicious anemia in the U.S.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.8% from 2024-2032

Unit Value (USD Million)

Segmentation By Type

- Cyanocobalamin

- Methylcobalamin

- Adenosylcobalamin

- Hydroxocobalamin

By Application

- Food Grade

- Pharmaceutical Grade

- Feed Grade

By End-user

- Pharmaceutical Industry

- Food & Nutraceuticals Industry

- Others

By Region

- North America (By Type, By Application, By End-user, By Country)

- U.S.

- Canada

- Europe (By Type, By Application, By End-user, By Country)

- Germany

- U.K.

- France

- Italy

- Spain

- Scandinavia

- Rest of Europe

- Asia Pacific (By Type, By Application, By End-user, By Country)

- China

- India

- Japan

- Australia

- Southeast Asia

- Rest of the Asia Pacific

- Rest of the World (By Type, By Application, By End-user)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities; 3.4. Market Trends
4. Key Insights: 4.1. Overview Regulatory Scenario, By Key Regions; 4.2. Key Industry Developments (Mergers, Acquisitions, Partnerships, etc.); 4.3. Impact of COVID-19 on the Market
5. Global Vitamin B12 Market Analysis, Insights and Forecast, 2019-2032: 5.1. Market Analysis, Insights and Forecast – By Type; 5.1.1. Cyanocobalamin; 5.1.2. Methylcobalamin; 5.1.3. Adenosylcobalamin; 5.1.4. Hydroxocobalamin; 5.2. Market Analysis, Insights and Forecast – By Application; 5.2.1. Food Grade; 5.2.2. Pharmaceutical Grade; 5.2.3. Feed Grade; 5.3. Market Analysis, Insights and Forecast – By End-user; 5.3.1. Pharmaceutical Industry; 5.3.2. Food & Nutraceuticals Industry; 5.3.3. Others; 5.4. Market Analysis, Insights and Forecast – By Region; 5.4.1. North America; 5.4.2. Europe; 5.4.3. Asia Pacific; 5.4.4. Rest of the World
6. North America Vitamin B12 Market Analysis, Insights and Forecast, 2019-2032: 6.1. Market Analysis, Insights and Forecast – By Type; 6.1.1. Cyanocobalamin; 6.1.2. Methylcobalamin; 6.1.3. Adenosylcobalamin; 6.1.4. Hydroxocobalamin; 6.2. Market Analysis, Insights and Forecast – By Application; 6.2.1. Food Grade; 6.2.2. Pharmaceutical Grade; 6.2.3. Feed Grade; 6.3. Market Analysis, Insights and Forecast – By End-user; 6.3.1. Pharmaceutical Industry; 6.3.2. Food & Nutraceuticals Industry; 6.3.3. Others; 6.4. Market Analysis, Insights and Forecast – By Country; 6.4.1. U.S.; 6.4.2. Canada
7. Europe Vitamin B12 Market Analysis, Insights and Forecast, 2019-2032: 7.1. Market Analysis, Insights and Forecast – By Type; 7.1.1. Cyanocobalamin; 7.1.2. Methylcobalamin; 7.1.3. Adenosylcobalamin; 7.1.4. Hydroxocobalamin; 7.2. Market Analysis, Insights and Forecast – By Application; 7.2.1. Food Grade; 7.2.2. Pharmaceutical Grade; 7.2.3. Feed Grade; 7.3. Market Analysis, Insights and Forecast – By End-user; 7.3.1. Pharmaceutical Industry; 7.3.2. Food & Nutraceuticals Industry; 7.3.3. Others; 7.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 7.4.1. Germany; 7.4.2. France; 7.4.3. Spain; 7.4.4. U.K.; 7.4.5. Italy; 7.4.6. Scandinavia; 7.4.7. Rest of Europe
8. Asia Pacific Vitamin B12 Market Analysis, Insights and Forecast, 2019-2032: 8.1. Market Analysis, Insights and Forecast – By Type; 8.1.1. Cyanocobalamin; 8.1.2. Methylcobalamin; 8.1.3. Adenosylcobalamin; 8.1.4. Hydroxocobalamin; 8.2. Market Analysis, Insights and Forecast – By Application; 8.2.1. Food Grade; 8.2.2. Pharmaceutical Grade; 8.2.3. Feed Grade; 8.3. Market Analysis, Insights and Forecast – By End-user; 8.3.1. Pharmaceutical Industry; 8.3.2. Food & Nutraceuticals Industry; 8.3.3. Others; 8.4. Market Analysis, Insights and Forecast – By Country/ Sub-Region; 8.4.1. Japan; 8.4.2. China; 8.4.3. India; 8.4.4. Australia; 8.4.5. Southeast Asia; 8.4.6. Rest of Asia Pacific
9. Rest of the World Vitamin B12 Market Analysis, Insights and Forecast, 2019-2032: 9.1. Market Analysis, Insights and Forecast – By Type; 9.1.1. Cyanocobalamin; 9.1.2. Methylcobalamin; 9.1.3. Adenosylcobalamin; 9.1.4. Hydroxocobalamin; 9.2. Market Analysis, Insights and Forecast – By Application; 9.2.1. Food Grade; 9.2.2. Pharmaceutical Grade; 9.2.3. Feed Grade; 9.3. Market Analysis, Insights and Forecast – By End-user; 9.3.1. Pharmaceutical Industry; 9.3.2. Food & Nutraceuticals Industry; 9.3.3. Others
10. Competitive Analysis: 10.1. Global Market Share Analysis (2023); 10.2. Company Profiles; 10.2.1. EUROAPI; 10.2.1.1. Overview; 10.2.1.2. Products; 10.2.1.3. SWOT Analysis; 10.2.1.4. Recent Developments; 10.2.1.5. Strategies; 10.2.1.6. Financials (Based on Availability); 10.2.2. CSPC Pharmaceutical Group Co., Ltd.; 10.2.2.1. Overview; 10.2.2.2. Products; 10.2.2.3. SWOT Analysis; 10.2.2.4. Recent Developments; 10.2.2.5. Strategies; 10.2.2.6. Financials (Based on Availability); 10.2.3. Ningxia Kingvit Pharmaceutical; 10.2.3.1. Overview; 10.2.3.2. Products; 10.2.3.3. SWOT Analysis; 10.2.3.4. Recent Developments; 10.2.3.5. Strategies; 10.2.3.6. Financials (Based on Availability); 10.2.4. Pharmavit; 10.2.4.1. Overview; 10.2.4.2. Products; 10.2.4.3. SWOT Analysis; 10.2.4.4. Recent Developments; 10.2.4.5. Strategies; 10.2.4.6. Financials (Based on Availability); 10.2.5. NCPC INTERNATIONAL CORP.; 10.2.5.1. Overview; 10.2.5.2. Products; 10.2.5.3. SWOT Analysis; 10.2.5.4. Recent Developments; 10.2.5.5. Strategies; 10.2.5.6. Financials (Based on Availability)