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Niacin and Niacinamide Market: Global Industry Analysis and Forecast (2024-2030) by Form, Application, and Region
Niacin and Niacinamide Market size was valued at US$ 1111.19 million in 2023 and the Niacin and Niacinamide revenue is expected to grow at 5.8% through 2024 to 2030, reaching nearly US$ 1648.88 million.
Format : PDF | Report ID : SMR_341
Niacin and Niacinamide Market Definition & Overview:
Niacin, often known as vitamin B3, is a vital nutrient for humans. Niacin aids in the reduction of cholesterol levels in the human body, minimizing the risk of cardiovascular disease. Niacin has been shown in studies to increase levels of healthy HDL cholesterol and lower levels of triglycerides. Niacinamide is another kind of vitamin B3 that is used to treat diabetes, oral cancer, acne, osteoarthritis, and other ailments. Pellagra can be treated with a combination of niacin and niacinamide. We as Stellar market research have prepared report on the niacin and niacinamide market, provided the detailed segment analysis and market size along with forecast values on the basis of form, application and region.
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Niacin and Niacinamide Market Dynamics:
The growth of the worldwide niacin and niacinamide market mostly rests on the popularity of its advantages for human health. A lot of medical specialists believe that niacin can help prevent metastatic melanoma from developing. Additionally, proper niacin and niacinamide ingestion can help to avoid chronic renal disease. Types of vitamin B are beneficial in slowing the progression of type 1 diabetes. The worldwide niacin and niacinamide market is expected to grow at a rapid rate in the forecast period as a result of the aforementioned causes.
Niacin and niacinamide market growth is being driven by rising health difficulties such as skin disease, diabetes, heart disease, weariness, and tiredness. Niacin is a B vitamin that is commonly used to prevent excessive blood cholesterol and pellagra (niacin deficiency). Secondly, because Niacin is a high-nutrition component for animals, the market for Niacin is expected to grow as the livestock industry expands. The rising use of niacin in cosmetics for skincare products is driving niacin demand across the world. However, excessive niacin intake has been linked to adverse effects such as nausea, vomiting, rashes, headaches, dizziness, irregular heartbeats, and blood sugar elevation in certain studies.
Niacin and Niacinamide Market Segment Analysis:
By Form, the powder segment is expected to have the largest market share during the forecast period. Furthermore, powdered Niacin and Niacinamide have a faster beginning of effect than other forms, which is fuelling the segment's growth. However, due to higher absorption rates and easier dosing flexibility, the liquid segment accounted for the largest market share in 2020, and it is expected to grow at a considerable CAGR of 7.6% over the forecast period 2024-2030.
By Application, The Niacin and Niacinamide Market was dominated by the animal nutrition segment in 2020. The segment's dominance can be due in great part to its ability to reduce ketosis in dairy cattle, resulting in improved milk output. Cows treated with niacin reliably give more milk with greater fat percentages, according to recent lactation studies. The cosmeceuticals application segment, on the other hand, accounted for the largest market share in 2020 and is expected to increase at a CAGR of 7.9% from 2024 - 2030. Because of its potential to protect skin cells from UV radiation, Niacinamide is increasingly being used in skincare products.
Niacin and Niacinamide Market Regional Insights:
In 2020, Europe dominated the Niacin and Niacinamide Market, with a 39.6% share, followed by North America and APAC. The growth of the Niacin and Niacinamide Market in this area is being fuelled by rising incidences of downer cow syndrome (DCS) in dairy cattle, as well as rising cases of childhood obesity. Additionally, the presence of a significant number of pharmaceutical and cosmeceutical businesses that extensively spend in research & development is expected to fuel market growth in this region.
Besides that, countries in the European region are dealing with downer cow syndrome (DCS) in dairy cattle, which causes decreased milk production due to a reduction in electrolyte metabolism. Governments and corporate organizations are working together to raise knowledge about the advantages of niacin among dairy farmers.
Because of rising obesity and serious health problems among North Americans, North America is one of the most important markets for Niacin. Markets across the Asia Pacific, the Middle East, and Africa are growing rapidly as a result of rising populations and changing lifestyles.
The objective of the report is to present a comprehensive analysis of the Niacin and Niacinamide Market to the stakeholders in the industry. The report provides trends that are most dominant in the Niacin and Niacinamide Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Niacin and Niacinamide Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Niacin and Niacinamide Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Niacin and Niacinamide Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Niacin and Niacinamide Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
Niacin and Niacinamide Market Scope:
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Niacin and Niacinamide Market |
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Market Size in 2023 |
USD 1111.19 Mn. |
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Market Size in 2030 |
USD 1648.88 Mn. |
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CAGR (2024-2030) |
5.8% |
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Historic Data |
2018-2022 |
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Base Year |
2023 |
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Forecast Period |
2024-2030 |
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Segment Scope |
by Form
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By Application
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Regional Scope |
North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Niacin and Niacinamide Market Players:
- Brother Enterprises Holding Co., Ltd. (China)
- Zhejiang NHU Company Ltd. (China)
- Fagron NV (Netherlands)
- Vertellus Specialties Inc.( United States )
- Jubilant Life Sciences Limited (Noida)
- Evonik Industries AG (Germany)
- Foodchem International Corporation (China)
- BASF SE (Germany)
- Merck KGaA (Germany)
- Bactolac Pharmaceutical Inc. ( United States )
- Koninklijke DSM N.V. (Netherlands)
- Lonza Group AG (Switzerland)
Frequently Asked Questions
Niacin market growth is being driven by rising health difficulties such as skin disease, diabetes, heart disease, weariness, and tiredness.
In 2020, Europe dominated the Niacin and Niacinamide Market, with a 39.6% share, followed by North America and APAC.
The growth of the Niacin and Niacinamide Market in this area is being fuelled by rising incidences of downer cow syndrome (DCS) in dairy cattle, as well as rising cases of childhood obesity.
Brother Enterprises Holding Co., Ltd., Zhejiang NHU Company Ltd., Fagron NV, Vertellus Specialties Inc., Jubilant Life Sciences Limited, Evonik Industries AG, Foodchem International Corporation, BASF SE, Merck KGaA, Bactolac Pharmaceutical Inc., Koninklijke DSM N.V., and Lonza Group AG.
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1. Research Process
2.2. Global Niacin and Niacinamide Market: Target Audience
2.3. Global Niacin and Niacinamide Market: Primary Research (As per Client Requirement)
2.4. Global Niacin and Niacinamide Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1. Market Share Analysis, By Region, 2023-2030(In %)
4.1.1.1. North America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.2. Europe Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.3. Asia Pacific Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.4. South America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.5. Middle East and Africa Market Share Analysis, By Value, 2023-2030 (In %)
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.2. Market Restraints
4.2.3. Market Opportunities
4.2.4. Market Challenges
4.2.5. PESTLE Analysis
4.2.6. PORTERS Five Force Analysis
4.2.7. Value Chain Analysis
4.3. Global Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.3.1.1. Global Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.3.1.1.1.Granular
4.3.1.1.2.Powder
4.3.1.1.3.Liquid
4.3.1.2. Global Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.3.1.2.1.Pharmaceutics
4.3.1.2.2.Cosmeceutics
4.3.1.2.3.Human Nutrition
4.3.1.2.4.Animal Nutrition
4.3.1.2.5.Others
4.4. North America Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.4.1.1. North America Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.4.1.1.1.Granular
4.4.1.1.2.Powder
4.4.1.1.3.Liquid
4.4.1.2. North America Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.4.1.2.1.Pharmaceutics
4.4.1.2.2.Cosmeceutics
4.4.1.2.3.Human Nutrition
4.4.1.2.4.Animal Nutrition
4.4.1.2.5.Others
4.4.1.3. North America Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.4.1.3.1.US
4.4.1.3.2.Canada
4.4.1.3.3.Mexico
4.5. Europe Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.5.1.1. Europe Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.5.1.2. Europe Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.5.1.3. Europe Market Share Analysis, By Industry, 2023-2030 (Value US$ MN)
4.5.1.4. Europe Market Share Analysis, By Technology, 2023-2030 (Value US$ MN)
4.5.1.5. Europe Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.5.1.5.1.UK
4.5.1.5.2.France
4.5.1.5.3.Germany
4.5.1.5.4.Italy
4.5.1.5.5.Spain
4.5.1.5.6.Sweden
4.5.1.5.7.Austria
4.5.1.5.8.Rest Of Europe
4.6. Asia Pacific Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.6.1.1. Asia Pacific Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.6.1.2. Asia Pacific Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.6.1.3. Asia Pacific Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.6.1.3.1.China
4.6.1.3.2.India
4.6.1.3.3.Japan
4.6.1.3.4.South Korea
4.6.1.3.5.Australia
4.6.1.3.6.ASEAN
4.6.1.3.7.Rest Of APAC
4.7. South America Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.7.1.1. South America Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.7.1.2. South America Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.7.1.3. South America Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.7.1.3.1.Brazil
4.7.1.3.2.Argentina
4.7.1.3.3.Rest Of South America
4.8. Middle East and Africa Niacin and Niacinamide Market Segmentation Analysis, 2023-2030 (Value US$ MN)
4.8.1.1. Middle East and Africa Market Share Analysis, By Form, 2023-2030 (Value US$ MN)
4.8.1.2. Middle East and Africa Market Share Analysis, By Application, 2023-2030 (Value US$ MN)
4.8.1.3. Middle East and Africa Market Share Analysis, By Country, 2023-2030 (Value US$ MN)
4.8.1.3.1.South Africa
4.8.1.3.2.GCC
4.8.1.3.3.Egypt
4.8.1.3.4.Nigeria
4.8.1.3.5.Rest Of ME&A
Chapter 5 Stellar Competition Matrix
5.1.1. Global Stellar Competition Matrix
5.1.2. North America Stellar Competition Matrix
5.1.3. Europe Stellar Competition Matrix
5.1.4. Asia Pacific Stellar Competition Matrix
5.1.5. South America Stellar Competition Matrix
5.1.6. Middle East and Africa Stellar Competition Matrix
5.2. Key Players Benchmarking
5.2.1. Key Players Benchmarking By Application, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
5.3. Mergers and Acquisitions in Industry
5.3.1. M&A by Region, Value and Strategic Intent
Chapter 6 Company Profiles
6.1. Key Players
6.1.1. Zhejiang NHU Company Ltd.
6.1.1.1. Company Overview
6.1.1.2. Source Portfolio
6.1.1.3. Financial Overview
6.1.1.4. Business Strategy
6.1.1.5. Key Developments
6.1.2.Brother Enterprises Holding Co., Ltd.
6.1.3.Zhejiang NHU Company Ltd.
6.1.4.Fagron NV
6.1.5.Vertellus Specialties Inc
6.1.6.Jubilant Life Sciences Limited
6.1.7.Evonik Industries AG
6.1.8.Foodchem International Corporation
6.1.9.BASF SE
6.1.10.Merck KGaA
6.1.11.Bactolac Pharmaceutical Inc.
6.1.12.Koninklijke DSM N.V.
6.1.13.Lonza Group AG
6.2. Key Findings
6.3. Recommendations
