Vitamin B complex is used to prevent deficiency in sheep and cattle. B12 is required for cell maturation and growth, as well as the generation of wool and energy. As the majority of animals are prone to insufficiency, a B12 supplement is given to treat or prevent deficiency.
The pharmaceutical, cosmetics, food and beverage, and animal feed industries all have significant application potential. Demand for processed foods has increased as a result of changes in consumer lifestyles, propelling the industry forward.
COVID-19 Impact Analysis
The market for Vitamin B complex Ingredients is rapidly approaching pre-COVID levels, with a solid growth rate predicted over the projection period, owing to the economic recovery in most developing countries. Unprecedented scenarios, however, as a result of the predicted third and subsequent waves, are casting a bleak picture.
Top Impacting Factors
- As people become more mindful of their health and fitness, they are more likely to take multivitamins. Water soluble vitamin B complexes include thiamine (B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), piridoxine (B6), folic acid (B9), biotin (B7), and cobalamin (B12). These come in a variety of forms, including tonics, pills, and injections. Thiamine and pantothenic acid aid wound healing, while cobalamin alleviates heartburn and indigestion caused by low stomach acidity.
- Increased demand for health supplements, as well as an increase in the senior population, could propel the business forward. Product demand may be stimulated by the need of keeping an active and healthy lifestyle, as well as an increase in the healthcare business.
- The market for vitamin B complex in pharmaceutical applications is expected to grow significantly over the forecast period. Increased consumer expenditure on medications, along with an increase in health awareness, could propel the business forward. Vitamin B complex is commonly prescribed by pharmaceutical firms for pregnancy, anemia, skin problems such as dermatitis, and excessive cholesterol.
- Vitamin B complex has a wide range of applications in the cosmetic sector, and it improves skin penetration, stability, and moisture. Changing climate dynamics may boost industrial growth by increasing demand for skincare goods and sunscreen lotions.
- Increased Demand for Monogastric Animal Nutrition Supplements
- Because monogastric animals are unable to generate vitamin B complex molecules in the same way that ruminants do, there is a high demand for vitamin supplements in this industry. Due to the coordinated growth of these sectors, key businesses are building a market presence in the poultry and swine sectors. In developing countries, such as Asia Pacific and Latin America, these industries are gaining traction. Globally, there has been a significant demand for the usage of additives in these expanding markets due to the increase in demand for complex feed in these regions.
- Changes in Regulatory Policies as a result of Environmental Impact
- If suitable standard operating procedures are not followed, the production process of vitamin B3, which is mostly synthetic, is thought to have a potentially negative impact on the environment. The vast majority of synthetic vitamins are made from petroleum extracts and coal tar derivatives, both of which have substantial environmental consequences. Vitamin manufacturing is thought to cause a significant amount of pollution, prompting vitamin makers to take initiatives to reduce their carbon footprint. The Chinese government's change in environmental rules is one of the primary challenges affecting the worldwide vitamin market. To achieve sustainable production and prevent air pollution, the Chinese government has implemented rigorous limitations. Vitamin manufacturers in China are experiencing a difficulty in that they must boost production to satisfy rising demand, which has an impact on worldwide vitamin supplies. Concerns over the long-term production of vitamins in other countries may also prompt national governments to take similar steps.
Key Benefits of the Report
- This study presents the analytical depiction of the vitamin b complex industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the vitamin b complex market share.
- The current market is quantitatively analyzed to highlight vitamin b complex market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed vitamin b complex market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Report
- Which are the leading players active in the ‘vitamin b complex market’?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is “vitamin b complex market” prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "vitamin b complex market"?
Vitamin B Complex Market Report Highlights
By Distribution Channel
Key Market Players
Adisseo France, Lonza, Deutschland, Glanbia Nutritionals, Nattopharma, Lonz, Aland (Jiangsu) Nutraceutical, Kirkman, DSM, DuPont Danisco, NBTY, BASF, Bluebonnet Nutrition, Bactolac Pharmaceutical, ADM, Amway, AIE Pharmaceuticals, Atlantic Essential Products