Global Vitamin B6 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vitamin B6 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vitamin B6 (pyridoxine, pyridoxal, pyridoxamine) is a water-soluble vitamin necessary for processing amino acids in the body, which form the building blocks of proteins and some hormones. It is involved in red blood cell metabolism, proper functioning of the nervous and immune systems and various other bodily functions. With the food sources include poultry, fish, potatoes, chickpeas and bananas, Vitamin B-6 (pyridoxine) is important for normal brain development and for keeping the nervous system and immune system healthy.

Market Overview:

The latest research study on the global Vitamin B6 market finds that the global Vitamin B6 market reached a value of USD 355.49 million in 2022. It’s expected that the market will achieve USD 683.02 million by 2028, exhibiting a CAGR of 11.5% during the forecast period.

Increase in adoption

The European Food Safety Authority (EFSA), which assists policy makers with respect to nutrition and safety food, has concluded intake of vitamin B6 is beneficiary to various day in day out diet such as glycogen metabolism, proper functioning of nervous system, red blood cell formation, normal functioning of the immune system, the directive to all the hormonal activities. The authentication of these benefits will uplift more usage of vitamin B6 in near future in various forms of drugs and food supplementary. According to U.S. Food and Drug Administration (FDA) About 28 percent to 36 percent of the normal population uses food supplements that contains vitamin B6 (pyridoxine). Adults aged 51 years or older and children younger than 9 are important target segment that is added to the segment consuming supplements containing vitamin B6. The increase in the usage of vitamin b6 has attracted the attention of more consumers, stimulated consumption and supply, which brings opportunity to the development of the industry.

High barriers

The Vitamin B6 industry has higher barriers to entry. The first is technical barriers. Vitamin B6 production involves complex processes. The process was originally monopolized by the Vitamin B6 giant companies. It is difficult for companies that do not master the technology to fully replicate the production lines and process parameters of existing Vitamin B6 manufacturers, and it is difficult to obtain key intermediates for preparing Vitamin B6s. The second is the capital barrier. The Vitamin B6 industry is a typical capital-intensive industry. Enterprises without strong capital strength cannot enter the Vitamin B6 industry, and even if they enter, they cannot form an effective scale effect. The third is exit cost barriers. Vitamin B6 synthesis routes is long and the equipment is mostly dedicated, the exit cost is high, The fourth is brand barriers, in order to ensure product quality, enterprises in various manufacturing industries generally choose excellent brand products in the Vitamin B6 industry, and establish long-term relationships with superior manufacturers in the Vitamin B6 industry, Stable cooperative relationship. Therefore, it is often difficult for non-industry companies to enter the Vitamin B6 industry, and various varieties basically present an oligopoly pattern, and the industry concentration is relatively high.

Region Overview:

Asia-Pacific is projected to account for a considerable share of the Vitamin B6 market and is expected to become the largest region by 2028.

Company Overview:

Tianxin Pharmaceutical is one of the major players operating in the Vitamin B6 market, holding a share of 1.92% in 2023.

Tianxin Pharmaceutical

Tianxin Pharmaceutical Co., Ltd. was established in September 2004. Tianxin Pharmaceutical is hi-tech enterprise specializing in vitamin production. Tianxin Pharmaceutical’s main products include vitamins B1 and B6, folic acid and ascorbyl palmitate, which are mainly applied to bulk pharmaceutical chemicals, food additives and feed additives. Tianxin has quickly grown into the world’s leading vitamin manufacturer.

DSM

As the largest vitamin ingredient manufacturer globally, DSM offers a broad portfolio of active pharmaceutical ingredients (APIs), that now spans vitamins, including pro-vitamin A beta-carotene, and lipid intermediates. With a long history of innovation, from the heritage as Roche Vitamins, DSM has continued to evolve capabilities in vitamin manufacturing for pharmaceutical applications. DSM’s commitment to delivering a sustainable supply of high-quality APIs.

Segmentation Overview:

By type, Pharmaceutical Grade segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Animal Nutrition segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vitamin B6 market covered in Chapter 3:

DSM
Hegno
Xinfa Pharmaceutical
Huazhong Pharmaceutical
Tianxin Pharmaceutical

In Chapter 4 and Chapter 14.2, on the basis of types, the Vitamin B6 market from 2018 to 2029 is primarily split into:

Feed Grade
Pharmaceutical Grade
Food Grade

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vitamin B6 market from 2018 to 2029 covers:

Animal Nutrition
Food & Beverage Industry
Pharmaceutical Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)