Vitamin B6 API Market Forecasts to 2030 – Global Analysis By Type (Capsules, Cream, Liquid and Injection, Syrup, Tablets and Other Types), Purity, Application and By Geography

Vitamin B6 API Market Forecasts to 2030 – Global Analysis By Type (Capsules, Cream, Liquid and Injection, Syrup, Tablets and Other Types), Purity, Application and By Geography

According to Stratistics MRC, the Global Vitamin B6 API Market is accounted for $221.6 million in 2023 and is expected to reach $405.1 million by 2030 growing at a CAGR of 9.0% during the forecast period. In the pharmaceutical industry, the market for Vitamin B6 API (Active Pharmaceutical Ingredient) pertains to the division that manufactures, sells, and distributes the active form of Vitamin B6, mostly for medicinal purposes. The water-soluble vitamin B6, also referred to as pyridoxine, is crucial for the body's metabolism, the synthesis of neurotransmitters, and the production of hemoglobin. Addressing a variety of health issues and enhancing general well-being are important objectives for the vitamin B6 API industry. A vital coenzyme involved in several metabolic processes in the human body is vitamin B6, often known as pyridoxine.

According to a survey by Proactive health, 44% of US consumers have increased purchases of dietary supplements during the pandemic. According to the U.S. Food and Drug Administration (FDA), about 28-36% of the normal population uses food supplements that contain vitamin B6 (pyridoxine).

Market Dynamics:

Driver:

Increasing health awareness

The demand for Vitamin B6 as an active pharmaceutical ingredient has increased as individuals become increasingly conscious of the critical role vitamins play in overall well-being, including metabolic processes and neurological health. In order to support vital physiological activities and handle inadequacies, consumers are diligently looking for pharmaceutical formulations and nutritional supplements enhanced with vitamin B6. Additionally, vitamin B6 API has been included in a variety of products by the pharmaceutical and nutraceutical industries as a result of growing consumer awareness of the connection between vitamin deficiencies and a number of health issues and health-conscious lifestyles.

Restraint:

Limited awareness in developing regions

The significance of vitamin B6 supplementation and its possible health benefits are not widely understood in many underdeveloped nations. The adoption of pharmaceutical formulations containing Vitamin B6 API is hampered by the general public's and healthcare professionals' lack of understanding of this issue. The market for related products is negatively impacted by a lack of knowledge on the role that vitamin B6 performs in supporting different biological functions and addressing nutritional deficits. To address this knowledge gap and provide consumers and healthcare professionals with the information they need to make informed choices about vitamin B6 supplementation, educational programs and awareness campaigns are crucial.

Opportunity:

Rising aging population

An aging population around the world has contributed to a rise in age-related health concerns, including cardiovascular disease and neurological diseases, several of which can be impacted by vitamin B6 deficiency. Supplementing with Vitamin B6 is essential for managing deficiencies and promoting general health because the senior population frequently experiences difficulties with adequate nutrient absorption. Vitamin B6 API is a crucial component of pharmaceutical formulations that address the unique health requirements of the elderly population and aid in the management and prevention of age-related illnesses.

Threat:

Global economic challenges

Spending on healthcare and consumer purchasing power can be severely impacted by economic downturns and periods of uncertainty. A decrease in the demand for medications and nutritional supplements, particularly those containing vitamin B6 API, may result from lower disposable income. In difficult financial times, individuals and healthcare professionals might give priority to non-essential supplements over those that are necessary for basic health needs. Pharmaceutical businesses might have problems obtaining funding for R&D projects, which could hinder their ability to innovate and launch innovative products.

Covid-19 Impact:

The market dynamics were impacted by disruptions in global supply chains, travel restrictions, and changes in consumer priorities. Due to growing health consciousness, the market for nutritional supplements remained mostly stable, but the pharmaceutical sector experienced difficulties with distribution and manufacture. Lockdowns and logistical difficulties impacted raw material supply, which could cause industrial processes to be delayed. Furthermore, throughout the pandemic, consumer buying patterns were impacted by economic uncertainty, which in turn affected the purchase of non-essential health products.

The capsules segment is expected to be the largest during the forecast period

Because capsules offer an effective means to package vitamin B6 API, ensuring precise dosing and simple incorporation into daily supplement regimens, the capsules sector held the largest share of the market over the projected period. The reason for the popularity of capsules is that they are easier to swallow, have fewer taste-related problems, and have better stability for the vitamin B6 that is inside. Moreover, due to the perceived convenience and accurate dosing that encapsulated formulations provide, consumer preferences have increased substantially, which has contributed to the segment's rapid expansion. Utilizing the benefit of this trend, pharmaceutical and nutraceutical businesses are launching a range of capsule products containing Vitamin B6 API to satisfy the market for wellness-focused supplements.

The muscular cramps segment is expected to have the highest CAGR during the forecast period

The muscle cramps area is anticipated to have profitable expansion due to the vitamin's established effectiveness in treating muscle-related problems. In order to affect muscular function, vitamin B6 is essential for the production of neurotransmitters and the metabolism of amino acids. As individuals become more aware of the connection between muscle cramps and vitamin B6 insufficiency, they are actively searching for formulations that contain vitamin B6 API in order to prevent and relieve these types of discomfort. Additionally, targeted pharmaceutical and nutraceutical solutions have been developed in response to muscle cramps, which are frequently associated with deficits in this vital substance.

Region with largest share:

Because of the increased emphasis on preventive healthcare and the development of health awareness, the Asia-Pacific region is expected to hold the largest proportion of the market. Vitamin B6 API-containing products are being consumed at an exponentially higher rate as people realize the significance of supplementing with nutrients. Additionally, demand for pharmaceutical formulations enhanced with Vitamin B6 API is being driven by consumers actively looking for ways to improve overall well-being and address vitamin deficiencies.

Region with highest CAGR:

Asia Pacific region is expected to hold profitable growth. A favorable market environment has been established by government measures that promote health and wellness as well as by the growing middle-class population with disposable funding. Consumer confidence has been bolstered by regulatory frameworks guaranteeing the quality and safety of pharmaceuticals, which has further propelled the market's expansion in the area. In addition, the Asia-Pacific region's nutraceutical and pharmaceutical sectors have proven their dedication to new product development and innovation.

Key players in the market

Some of the key players in Vitamin B6 API market include DSM Sinochem Pharmaceuticals, Lonza Group Ltd, Hegno Pharmaceutical Co., Ltd, BASF SE, Dishman Carbogen Amcis Ltd, Zhejiang NHU Co., Ltd, Jiangxi Tianxin Pharmaceutical Co., Ltd, Huazhong Pharmaceutical Co., Ltd, Tianjin Zhongrui Pharmaceutical Co., Ltd, Anhui Sunhere Pharmaceutical Excipients Co., Ltd, Anhui Tiger Biotech Co., Ltd, Taizhou Tianrui Chemical Co., Ltd and Hubei Gedian Humanwell Pharmaceutical Co., Ltd.

Key Developments:

In November 2023, BASF increases defoamer capacity at its Dilovasi plant in Turkey. New production line set up to meet growing demand for Foamaster® and Foamstar® products in South-East Europe, the Middle East and Africa. BASF will improve its service to customers in the region and reduce lead times to ensure faster delivery.

In November 2023, BASF receives funding approval for electrolysis plant. With the approval of funding from the German Federal Ministry for Economic Affairs and Climate Action and the State of Rhineland-Palatinate, BASF has taken a major step closer in building a PEM electrolyser for its project aimed at decarbonising the chemical industry.

Types Covered:
• Capsules
• Cream
• Liquid and Injection
• Syrup
• Tablets
• Other Types

Purities Covered:
• Food Grade
• Feed Grade

Applications Covered:
• Anaemia
• Fatigue
• Insomnia
• Menopausal Depression
• Muscular Cramps
• Premenstrual Syndrome
• Water Retention
• Pharmaceutical Industry
• Food & Beverage Industry
• Animal Nutrition
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements