A new market study, titled “Discover Global Niacin (Vitamin B3) Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Niacin (vitamin b3), or nicotinic acid, is an organic compound and is often categorized as one of the 20 to 80 essential human nutrients. Together with nicotinamide, it forms the group of vitamins commonly called vitamin B3 complex. It contains C6H5NO2 and belongs to the group of the pyridine carboxylic acids. The global niacin (vitamin b3) market is predicted to be valued at $46.45 billion by 2026.
Niacin (vitamin b3) is found in various processed foods containing a higher content of fortified packaged foods, tuna, salmon, and in certain vegetables. Niacin supplementals are common among people suffering from high blood cholesterol and niacin or vitamin b3 deficiency. The vitamin is essential for the body, and its deficiency can cause nausea, skin and mouth lesions, anaemia, headaches, and tiredness. A lack of niacin is common in those with pandemic deficiency diseases, caused due to a lack of five crucial vitamins, niacin, vitamin C, thiamin, vitamin D, and vitamin A. Being crucial to health, the use of niacin supplements is global, which boosts the market growth.
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Key Players of Global Niacin (Vitamin B3) Market =>
- Jubilant Life Sciences
- Brother Enterprises
- Zhejiang Lanbo Biotechnology
- Lasons India
- Tianjin Zhongrui Pharmaceutical
- Resonance Specialties
Niacin (Vitamin B3) Segmentation
The niacin (vitamin b3) market can be segmented by type and application. Based on type, the market divisions include pharmaceutical grade and feed grade. The various benefits of niacin (vitamin b3) have increased the adoption of the vitamin in healthcare, giving the pharmaceutical sector the major market share. Niacin helps reduce oxidative stress and inflammation, thus helping reduce atherosclerosis or the hardening of your arteries. Further, niacin therapy can help reduce the risk of heart-related health problems.
Based on applications, the market can be segmented by feed activities, food and drinks industry, and daily chemicals. Growing awareness among the masses for healthy eating will boost the food and drinks segment
Niacin (Vitamin B3) Regional Analysis
Geographically, the niacin (vitamin b3) market can be segmented into North America, Europe, and the Asia Pacific. North America is the highest market contributor, followed by Europe. The increased use of vitamin supplements and the availability of advanced research centres for developing better products results in the higher market demand in these regions. Asia-Pacific is an emerging market and has witnessed a rise in niacin (vitamin b3) demand in recent years. China was the largest market contributor for niacin (vitamin b3) with an average share of 23186 MT in 2017. Latin America and Africa are also predicted to play a major role in market demand.
Niacin (Vitamin B3) Industry News
Adoption of advanced technologies is the best way to get ahead of the competition. Market players have adopted strategies like mergers & acquisitions, collaborations, and partnerships to get a strong foothold in the market.
For instance, in 2014, Lonza, one of the top market leaders, built a new 15,000 production line in China to expand its market standing in the region.
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