Vitamin B12 ingredient Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 – 2034

The Global Vitamin B12 Ingredient Market was valued at USD 295.4 thousand in 2024 and is projected to grow at a robust CAGR of 5.8% from 2025 to 2034. As consumers become increasingly health-conscious, there is a rising awareness of the critical role vitamins and minerals play in maintaining overall well-being, which has significantly boosted the demand for essential nutrients like Vitamin B12. Additionally, the global shift towards plant-based and vegan diets, which often lack natural sources of Vitamin B12, has intensified the demand for fortified foods and dietary supplements. This growing shift in dietary habits, combined with increasing health awareness, is positioning Vitamin B12 as a key ingredient in food and supplements across the world.

The growing preference for plant-based diets, coupled with a rise in the number of vegans and vegetarians, has created an opportunity for Vitamin B12 to play a larger role in supplementing nutrient deficiencies. Many people, especially in urbanized regions, are incorporating fortified foods into their daily nutrition regimen. The market is also witnessing a significant increase in demand for Vitamin B12 supplements, as consumers are looking for convenient ways to ensure they meet their nutritional needs. These factors, combined with greater access to Vitamin B12-enriched products, are expected to continue driving the market’s expansion over the next decade.

In 2024, the cyanocobalamin segment generated USD 48.7 thousand, solidifying its position as one of the most crucial forms of Vitamin B12 in the market. Cyanocobalamin is favored by manufacturers due to its affordability, long shelf life, and ease of large-scale production. These factors contribute to its widespread adoption across the food and supplement industries. Moreover, its stable nature during storage and transportation, along with its cost-effectiveness, has solidified its status as the most popular form of Vitamin B12 for fortification purposes.

The market remains heavily reliant on animal-based sources, which accounted for 85% of the total Vitamin B12 ingredient market share in 2024. This segment benefits from the traditional use of meat, dairy, and eggs as primary sources of Vitamin B12. These animal-based products play an integral role in fortifying staple foods such as milk, yogurt, and meat, which are commonly consumed across diverse populations. Despite the increasing popularity of plant-based diets, animal-derived Vitamin B12 remains a dominant player due to its long-standing presence in conventional dietary habits and its essential role in food fortification.

In the U.S., the Vitamin B12 ingredient market generated USD 89.5 thousand in 2024, driven by a surge in consumer demand for health and wellness products. The growing popularity of dietary supplements and fortified foods is further accelerating market growth in North America. Consumers, increasingly aware of the benefits of proper nutrition, continue to prioritize foods and supplements rich in Vitamin B12, making the U.S. one of the most lucrative markets globally. With a high percentage of health-conscious individuals, the region is expected to see sustained demand for Vitamin B12-rich products in the coming years.