Vitamin B Complex Ingredients Market Size, Share & Industry Analysis, By Type ( Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B12, Vitamin B9, Vitamin B7 ), By Application ( Food and Beverages, Pharmaceutical, Animal Feed, Others ) and regional Forecast, 2024-2032
KEY MARKET INSIGHTS
A human being requires vitamin B complex in adequate quantities for the body's proper cellular and metabolic functioning. Over the past few years, there has been a significant rise in vitamin B complex ingredients among the young generation. This is owed to the increase in vitamin deficiencies and awareness of the importance of a balanced diet. This trend has attributed to substantial growth in the vitamin b complex ingredients market globally.
The past few years have witnessed an increase in proper diet awareness and the importance of vitamins and minerals among the younger population. This has led to the rise in the consumption of nutrient supplements such as vitamin B complex. Additionally, the sedentary lifestyle has led to a large population affected by vitamin deficiencies. According to the National Institute of Health, around 15 % of the general population suffers from vitamin B deficiency worldwide. This trend is projected to boost the vitamin B complex ingredients market growth over the forecast duration.
However, the increasing popularity of the ingredient has also led to stringent regulatory guidelines for using the product. Vitamin B complex overdose also causes complications such as nausea, blurred vision, skin condition, abdominal cramps, among others. These factors are anticipated to hinder the market growth.
Market Segmentation:
Globally, the vitamin B complex ingredients market can be divided based on type, application, and region. The market can be categorized into vitamin B5, vitamin B6, vitamin B12, vitamin B1, vitamin B2, vitamin B3, vitamin B9, and vitamin B7. Based on the application's segmentation, the market is divided into food and beverages, pharmaceuticals, animal feed, and others.
The vitamin B complex ingredients market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Key Market Driver -
Rising awareness of lifestyle diseases
Key Market Restraint -
Stringent regulations of vitamin B complex ingredients
Key Players Covered:
Some of the major companies that are present in the Vitamin B Complex Ingredients Market are Amway, Adisseo, Seven Seas, North America Herb and Specie, BASF, Lonza, DSM, and others
Key Insights:
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Key Trends in Vitamin B Complex Ingredients Market
- Overview of Regulatory scenario – Key Country/Region
- Introduction of New Products by Major Players
Regional Analysis:
Based on geography segmentation, the Vitamin B Complex Ingredients Market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is expected to hold the dominant position in the vitamin B complex ingredients market and is projected to remain in a dominating position during the forecast period. This is owed to factors such as higher awareness regarding vitamin deficiency in the general population, greater access to vitamin complex tablets through different channels, among others. Europe is projected to be the second-highest valued market globally over the forecast duration. Active government initiative for spreading awareness regarding vitamin B deficiency is projected to bolster Europe's market growth. The higher patient pool of vitamin b complex deficiency and rising geriatric population in the countries such as China and Japan I estimated to surge the demand for vitamin b complex ingredients in the region. The market in Latin America and the Middle East, and Africa are expected to capture a lower share in the global vitamin B complex ingredients market owing to the lower availability of vitamin B complex ingredients in the regions
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Segmentation
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Vitamin B Complex ingredients Market Industry Developments
- In June 2020, Unived launched a plant based vitamin b complex and multi vitamin tablet in the Indian market.
- In June 2020, Elysium Health, Inc. launched a brain health supplement named MATTER in collaboration with University of Oxford. The Health supplement contains vitamin b complex ingredients with enhanced bioavailability.
- Ongoing
- 2023
- 2019-2022
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