The size of the global market for Vitamin B is expected to reach $1.2 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.2%.
Rise in awareness regarding the consumption of healthy food, amongst the elderly population is fueling the demand for food products with vitamins and derivatives. Daily intake of vitamins and its derivatives is important for the functioning and development of health. Vitamins are used in the healthcare products, which are experiencing a growth because of fast life of a customer.
On using vitamins and derivatives has raised in the pharmaceutical products because of the potential for curing several diseases of metabolic syndrome. Vitamins and derivatives are present in the form of oral liquid, softgels, gummies, capsules, powder and tablets. Vitamin B are water-soluble organic compounds that plays major role in the maintaining the cellular function, body function and development and growth of tissue. Vitamin B involves Thiamine (B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), pyridoxine (B6), folate (B9) and cobalamin (B12). Vitamin B deficiency may rise in weeks of insufficient intake, necessary for vitamin B. Vitamin B complex vitamins (B1, B12 and B6) plays important roles in nervous system structurally and maintain the proper functioning of nervous system. Vitamin B complex participate in promoting the acceleration of regeneration of nerve tissue, recovery of nerve function of mechanisms and promoting the repair of nerve. Vitamin B is mostly applicable for manufacturing of cosmetics, dietary supplements and dietary food. Use of vitamin in different industries can help in boosting the growth of global vitamin B market.
Size of vitamin B complex market from the applications of pharmaceutical may experience the strong growth in the coming years. Rise in spending of customers in medicines with the increase in consciousness for health may increase the growth of vitamin B market. Many of the pharmaceutical companies recommend vitamin B complex during anemia, pregnancy and skin diseases such as high cholesterol and eczema.
Application of vitamin B in industry of cosmetic will fuel the vitamin B complex market size will boost the moisturizing of skin, penetration of skin and stability. Increasing the products of skincare and demand for sunscreen lotions because of climatic changes may increase the growth of vitamin B market. Rise in the organic, natural and herbal cosmetic products will produce opportunities for producers to manufacture new products as per the customer requirement. Biotin is majorly used for manufacture of hair conditioners, personal care products, moisturizing agents and shampoos.
Vitamin B complex is used in cattle and sheep for preventing the deficiency. B12 is very important for the cell growth and maturation, energy and wool production. Many of the animals are prone to deficiency, so B12 supplement is used to prevent and treat the deficiencies.
Vitamin B complex market is segmented into application and regions. By application, vitamin B market is divided into food & beverages, personal care, healthcare products and feed. Food & beverages is sub-divided into dairy products, infant food, beverages, bakery & confectionary products and more.
Geographically, regions involved in the development of vitamin B market size are Europe, Asia Pacific, North America and Rest of the World. In North America, vitamin B complex market size will experience a rapid growth because of increase in energy drink, cosmetic and pharmaceutical industries.
Key players involved in the development of vitamin B and derivatives market are Herbalife, Abbott laboratories, Amway, Pfizer, Fermenta Biotech Ltd., Bactolac Pharmaceutical and more.
Key Segments in the “Global Vitamin B and its derivatives Market” are-
By Application market is segmented into:
- Food & Beverages
- Personal Care
- Healthcare Products
By Regions market is segmented into:
- Asia Pacific
- North America
- Rest of the World
What to expect from the Global Vitamin B and its derivatives Market report?
- Predictions of future made for this market during the forecast period.
- Information on the current technologies, trends, devices, procedures, and products in the industry.
- Detailed analysis of the market segmentation, depending on the types, devices, and products.
- Government regulations and economic factors affecting the growth of the market.
- An insight into the leading manufacturers.
- Regional demographics of the market.