Niacin (Vitamin B3) - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Niacin (Vitamin B3) market is accounted for $322.01 million in 2019 and is expected to reach $457.94 million by 2027 growing at a CAGR of 4.5% during the forecast period. The rise in demand for useful and nutritionally enriched processed food products and the prevalence of vitamin deficiencies are the major factors driving the market growth. However, the establishment of regulatory control on supplement usage limit, and side effects of Niacin are the factors restraining the market growth.
Niacin (Vitamin B3) called as nicotinic acid is a colorless, water-soluble derivative of pyridine. Niacin (Vitamin B3) is an organic compound and one of the 20 to 80 essential human nutrients, together with nicotinamide, niacin makes up the group known as Vitamin B3 complex. Niacin (Vitamin B3) is required for the proper functioning of the body, as it has different health benefits, such as the genuine functioning of the nervous system, the enhancement of skin health, production of red blood cells and cellular energy, etc., Niacin (Vitamin B3) in dairy cattle has multiple beneficial effects such as preventing metabolic disorders, improving digestive health for better body condition.
Based on the type, the feed grade segment is going to have high growth during the forecast period as feed grade is a vital part of improved metabolism; it helps the body process fats, carbohydrates, and amino acids in animals. For feed grade application in broilers, Niacin (Vitamin B3) substance is employed to partly correct leg issues while still maintaining rapid weight gains. Niacin (Vitamin B3) is essential for the health of the skin, bones, joints, mucous membranes, digestive system, and central nervous system and is one of the more frequently supplemented vitamins, particularly in the swine and broiler industries.
By geography, Asia Pacific holds the largest market share during the forecast period as the processed food industries in the region is experiencing growth owing to the changing lifestyles of customers and constant changes in rapid urbanization, consumer preferences, diet diversification, and liberalization of foreign direct investment in the food sector.
Some of the key players profiled in the Niacin (Vitamin B3) Market include Aarti Drugs, Brother Enterprises Holding, DSM, Jubilant Life Science, Lanbo Biotechnology, Lasons India, Nantong Acetic Acid Chemical, Red Sun Group, Resonance Specialties, Tianjin Zhongrui Pharmaceutical, Vanetta Ltd., Vertellus and Western Drugs Limited.
• Pharmaceutical Grade
• Feed Grade
• Feed Additives
• Food and Beverage
• Daily Chemicals
• Cosmetics & Personal Care Products
Sales Channels Covered:
• Direct Channel
• Distribution Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
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