New York, October 14, 2021 – Reports and Data has published its latest report titled “Pyridoxine Hydrochloride Market, By Form (Solid, Liquid), By Grade (Food Grade, Feed Grade, Pharmaceutical Grade), By End-use Industry (Food & Beverage Industry, Pharmaceutical Industry, Animal Nutrition, Others), And Region – Global Forecast To 2028”
Growing applications of pyridoxine hydrochloride in the food & beverage and pharmaceutical industries are expected to fuel market revenue growth
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According to Reports and Data, the global pyridoxine hydrochloride market size was USD 408 million in 2020 and is expected to reach USD 731.5 million in 2028 and register a revenue CAGR of 8.0% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Pyridoxine hydrochloride is a water-soluble B vitamin and is the hydrochloride salt of pyridoxine. It is listed on the List of Essential Medicines of the World Health Organization (WHO) and is considered one of the safest and most effective medicines in the world. Pyridoxine hydrochloride is generally used in nutritional supplements for the liver and plays a vital role in various enzymatic reactions in amino acid metabolism. The substance is widely used in the synthesis of sphingolipids and glycogenolysis and plays a significant role in various functions of the immune and nervous systems. Growth of the global pyridoxine hydrochloride market revenue is substantially driven by factors such as growing awareness of health and wellness among consumers, increasing prevalence of vitamin deficiencies, rising demand for nutritional and dietary supplements, and increasing usage of pyridoxine hydrochloride in functional foods and beverages and animal nutrition products.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Food Grade Segment Accounted for Largest Revenue Share in 2020:
On the basis of grade, the global pyridoxine hydrochloride is segmented into food grade, feed grade, and pharmaceutical grade. The food grade segment accounted for the largest revenue share in the market in 2020. Key factors supporting growth of this segment include growing use of food-grade pyridoxine hydrochloride in a wide range of food and beverage products including dairy products, energy drinks, and confectionery and bakery products to enhance their nutritional value. Rising demand for these foods and beverages, growing health awareness among individuals, and rising disposable incomes further drive this segment’s growth.
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Pharmaceutical Industry to Dominate Other End-use Industries:
Based on end-use, the pharmaceutical industry is projected to register the fastest growth in revenue over the forecast period. Increasing use of pyridoxine hydrochloride in pharmaceutical products including nutraceuticals and cosmeceuticals, growing prevalence of chronic diseases such as anemia, pyridoxine-dependent epilepsy, and vitamin deficiency, increasing research on pyridoxine hydrochloride in the pharmaceutical sector, and rising healthcare spending of consumers are key factors boosting this segment’s growth.
Asia Pacific to Lead in Terms of Revenue CAGR:
Among regional markets, the Asia Pacific pyridoxine hydrochloride market is expected to register the fastest revenue CAGR in the global market over the forecast period. Rise in geriatric populace, high incidence rate of vitamin deficiency and related health disorders, increasing consumption of nutritional and dietary supplements, and growing demand for animal nutrition products are the primary factors driving the Asia Pacific market revenue growth. The regional market revenue growth is further bolstered by rise of the pharmaceutical and food & beverage sectors in the region and presence of leading industry players including DSM Tianxin Pharmaceutical, Guangji Pharmaceutical, Amsar Private Limited, and Huazhong Pharmaceutical.
Major Companies in the Market Include:
- DSM Tianxin Pharmaceutical
- Huazhong Pharmaceutical
- Nutra Healthcare
- Guangji Pharmaceutical
- AVANSCURE LIFESCIENCES PVT. LTD.
- BASF Human Nutrition
- Amsar Private Limited
- A & Z FOOD ADDITIVES CO., LTD.
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For the purpose of this report, Reports and Data has segmented the global pyridoxine hydrochloride market based on form, grade, end-use industry and region:
Form Outlook (Revenue, USD Million; Volume, 2018-2028)
Grade Outlook (Revenue, USD Million; Volume, 2018-2028)
- Food Grade
- Feed Grade
- Pharmaceutical Grade
End-use Industry Outlook (Revenue, USD Million; Volume, 2018-2028)
- Food & Beverage Industry
- Pharmaceutical Industry
- Animal Nutrition
Regional Outlook (Revenue, USD Million; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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