Market Overview:
The global niacin (vitamin B3) market is expected to register a CAGR of 5.5% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for niacin from the feed additives, food and drinks industry, pharmaceutical industry and daily chemicals applications. Pharmaceutical grade segment is projected to grow at a higher CAGR as compared to other segments during the forecast period. North America accounted for majority of share in terms of revenue in 2017 and is expected to maintain its dominance throughout the forecast period.
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Product Definition:
Niacin is a water soluble vitamin and is one of the B-complex vitamins. It is also known as nicotinic acid or vitamin B3. Niacin functions as a coenzyme in the body, helping to release energy from food. It also helps keep the skin, nerves, and digestive system healthy. Niacin deficiency can cause pellagra, a disease characterized by skin lesions, diarrhea, and dementia. Pellagra can be fatal if left untreated.
Pharmaceutical Grade:
Pharmaceutical grade niacin is a form of vitamin B3. It's used in the treatment of pellagra, an endemic disease prevalent in some parts of South America and Africa. The drug has been approved by the U.
Feed Grade:
Feed grade is the highest quality available in the market. It's used to produce vitamin niacin (Vitamin B3) which is an essential nutrient for animals and humans. Vitamin B3 also known as nicotinic acid, used in a variety of applications such as food & beverages, pharmaceuticals, cosmetics and feed additives among others.
Application Insights:
The feed additives segment held the largest share of over 50.0% in 2017. The product is widely used as a vitamin supplement for ruminant animals, such as cattle, buffaloes and camels. It plays an important role in maintaining animal health by enhancing immunity and reducing infections caused by bacteria or parasites among others. Rising awareness regarding animal nutrition is expected to fuel demand for niacin among feed manufacturers globally over the forecast period.
Niacin has been proven to be effective against scurvy in livestock owing to its ability to increase blood flow throughout the body tissues including skin.
Regional Analysis:
Asia Pacific was the largest market in 2016 and is expected to continue its dominance over the forecast period. The region accounts for approximately 60% of global population, 50% of global GDP, and 80% of global food production. It has been observed that a high proportion of population in this region is suffering from deficiency diseases due to their low consumption of vitamin B3 as compared to other regions. This trend is projected to continue over the next eight years which will boost product demand during the forecast period.
North America emerged as one of the major consumers owing to presence major companies such as JBF Corporation; FMC Corporation; Cargill Inc.; Roquette (Ltd.) operating in this region along with Europe and Asia Pacific niacin market players have been targeting end-use markets through various distribution channels including direct sales, third-party distributors etc.
Growth Factors:
- Increasing awareness about the health benefits of niacin is expected to drive its demand in the coming years.
- Growing incidence of lifestyle diseases, such as obesity and diabetes, is likely to boost the uptake of niacin supplements over the forecast period.
- Rising geriatric population is also anticipated to fuel growth in the global niacin market owing to their increased vulnerability towards various chronic diseases.
- The increasing use of niacin in food and beverage products is projected to create new opportunities for market players over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Niacin (Vitamin B3) Market Research Report
By Type
Pharmaceutical Grade, Feed Grade
By Application
Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals
By Companies
Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises, Zhejiang Lanbo Biotechnology, Lasons India, Vanetta, DSM, Tianjin Zhongrui Pharmaceutical, Resonance Specialties
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
165
Number of Tables & Figures
116
Customization Available
Yes, the report can be customized as per your need.
Global Niacin (Vitamin B3) Market Report Segments:
The global Niacin (Vitamin B3) market is segmented on the basis of:
Types
Pharmaceutical Grade, Feed Grade
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Lonza
- Jubilant Life Sciences
- Vertellus
- Brother Enterprises
- Zhejiang Lanbo Biotechnology
- Lasons India
- Vanetta
- DSM
- Tianjin Zhongrui Pharmaceutical
- Resonance Specialties
 Market Overview.svg)
Highlights of The Niacin (Vitamin B3) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pharmaceutical Grade
- Feed Grade
- By Application:
- Feed Additives
- Food and Drinks Industry
- Pharmaceutical Industry
- Daily Chemicals
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Niacin (Vitamin B3) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Niacin is a water soluble vitamin that helps the body convert food into energy. It is also important for maintaining healthy skin and hair, promoting good vision, and helping to prevent heart disease and stroke.
Some of the major companies in the niacin (vitamin b3) market are Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises, Zhejiang Lanbo Biotechnology, Lasons India, Vanetta, DSM, Tianjin Zhongrui Pharmaceutical, Resonance Specialties.
The niacin (vitamin b3) market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Niacin (Vitamin B3) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Niacin (Vitamin B3) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Niacin (Vitamin B3) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Niacin (Vitamin B3) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Niacin (Vitamin B3) Market Size & Forecast, 2020-2028
4.5.1 Niacin (Vitamin B3) Market Size and Y-o-Y Growth
4.5.2 Niacin (Vitamin B3) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Pharmaceutical Grade
5.2.2 Feed Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Feed Additives
6.2.2 Food and Drinks Industry
6.2.3 Pharmaceutical Industry
6.2.4 Daily Chemicals
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Niacin (Vitamin B3) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Niacin (Vitamin B3) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Pharmaceutical Grade
9.6.2 Feed Grade
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Feed Additives
9.10.2 Food and Drinks Industry
9.10.3 Pharmaceutical Industry
9.10.4 Daily Chemicals
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Pharmaceutical Grade
10.6.2 Feed Grade
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Feed Additives
10.10.2 Food and Drinks Industry
10.10.3 Pharmaceutical Industry
10.10.4 Daily Chemicals
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Pharmaceutical Grade
11.6.2 Feed Grade
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Feed Additives
11.10.2 Food and Drinks Industry
11.10.3 Pharmaceutical Industry
11.10.4 Daily Chemicals
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Pharmaceutical Grade
12.6.2 Feed Grade
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Feed Additives
12.10.2 Food and Drinks Industry
12.10.3 Pharmaceutical Industry
12.10.4 Daily Chemicals
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Pharmaceutical Grade
13.6.2 Feed Grade
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Feed Additives
13.10.2 Food and Drinks Industry
13.10.3 Pharmaceutical Industry
13.10.4 Daily Chemicals
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Niacin (Vitamin B3) Market: Competitive Dashboard
14.2 Global Niacin (Vitamin B3) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lonza
14.3.2 Jubilant Life Sciences
14.3.3 Vertellus
14.3.4 Brother Enterprises
14.3.5 Zhejiang Lanbo Biotechnology
14.3.6 Lasons India
14.3.7 Vanetta
14.3.8 DSM
14.3.9 Tianjin Zhongrui Pharmaceutical
14.3.10 Resonance Specialties
