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Global Nicotinic Acid (Vitamin B3) Market Insight March 31, 2022 Comments

The Nicotinic Acid (Vitamin B3) is forecast to steady growth over the next four years. According to the WK-chem Research “Global Nicotinic Acid (Vitamin B3) Professional Survey Report 2022, Forecast to 2027”, With Growing demand for functional and nutrient-dense processed foods,the Nicotinic Acid (Vitamin B3) industry is developing at an incredible speed. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 3.98% base on WK-chem Research regression analysis model.
Analysts’ Viewpoint:
“There are several immune-boosting vitamin B3 supplements on the market, and sales have increased after the emergence of the novel coronavirus to reduce the risk of infection. In the wake of the pandemic and the ensuing global lockdown, there has been a marked increase in health awareness, leading to increased demand for immunity-boosting products.“said Jimmy Joy, Senior analyst, Chemicals & Materials Market Research Center in WK-chem Research.
Market insight:
The growing demand for vitamins comes mainly from the food industry as there is an increasing focus on consuming processed foods for daily nutritional value. Harsh processing conditions can lead to the loss of nutrients such as vitamin B3 naturally present in foods, prompting food manufacturers to fortify their foods to restore these losses. With increased health awareness and focus on preventive health care, consumers are choosing fortified foods and are willing to pay for nutrient-dense foods. Foods such as dairy beverages, bakery products and flours are increasingly fortified with different types of B vitamins to enhance their nutritional value. From 2002 to 2017, the number of countries responsible for fortifying wheat flour with iron or folic acid increased substantially. In 2017, 86 countries authorized fortification of wheat flour. There are many government initiatives to address malnutrition by implementing food fortification programmes. With global demand for meat, milk and eggs increasing, livestock owners have unlimited access to vitamin B3 feed supplements to improve livestock weight, productivity and reproductive health. Since vitamin B3 is used to improve disease resistance and yield parameters in livestock, high doses of vitamin B3 in these by-products have been shown to be harmful to animal, human and environmental health.
Competition Landscape:
This WKI market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Nicotinic Acid (Vitamin B3) companies that include Lonza Group AG,Jubilant Life Sciences Ltd,Vertellus,Vanetta,DSM.
Segmentation of Nicotinic Acid (Vitamin B3) Market:
According to the type, the market for Nicotinic Acid (Vitamin B3) is divided into Feed grade and Nutrition grade.Nutrition grade dominates the market and the rising awareness of supplementation has led to an increase in the demand for the product.According to application, the Nicotinic Acid (Vitamin B3) market is divided into Nutrition,Consumer,Agrochemicals,Pharmaceuticals and others.Nutrition dominates the market with vitamin b3 used in most vitamin blends, supplements and nutritional foods and beverages. It has enormous benefits for both animals and humans.
Nicotinic Acid (Vitamin B3) Market: Regional Analysis
In terms of geography, the global Nicotinic Acid (Vitamin B3) market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.North America is currently the leading regional market for Nicotinic Acid (Vitamin B3) due to Changing consumer preferences.The Asia Pacific market is expected to grow with the highest CAGR.Due to Rising per capita disposable income and dietary diversification.
Cagr: 3.98%
Largest share area:North America
Largest share area:the Unite States
Product Type: Feed grade and Nutrition grade.
Application:Nutrition,Consumer,Agrochemicals,Pharmaceuticals and others
Leading Company:Lonza Group AG,Jubilant Life Sciences Ltd,Vertellus,Vanetta,DSM.