The Vitamin B3 Market is expected to grow at a CAGR of --% from 2021-2027 to reach US$ -- million by 2027.
A comprehensive overview of the Vitamin B3 Market is recently added by UnivDatos Market Insights to its humongous database. The Vitamin B3 report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Vitamin B3 market. Vitamin B3 report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Vitamin B3 at the global and regional levels. The Vitamin B3 Market is expected to grow at a CAGR of --% from 2021-2027 to reach US$ -- million by 2027.
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Market Overview
The severe deficiency of Vitamin B3 leads to the occurrence of several diseases such as skin, digestive system, and nervous system. Moreover, other problems such as thick, scaly pigmented rash on skin exposed to sunlight, swollen mouth, and brightly red tongue, vomiting, and diarrhea, headache, apathy, fatigue, depression, disorientation, and memory loss. As per a study, out of the 440 million acute noncancerous medical conditions reported in the United States annually, more than 22 million are for acute digestive conditions, with 11 million from gastroenteritis and 6 million from indigestion, nausea, and vomiting.
Moreover, Depression is the leading cause of disability worldwide. Almost 75% of people with mental disorders remain untreated in developing countries with almost 1 million people taking their lives each year. In addition, according to the World Health Organization (WHO), 1 in 13 globally suffers from anxiety. Vitamin B3 helps in reducing the prevalence of such problems.
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COVID-19 Impact
Vitamin B3 supplements with immunity properties are accessible in the market and have shown a huge demand post the coming of the novel COVID-19 to reduce the risk of contamination. The demand for vitamin B3 preparation in the milk and dairy industry is expanding currently. However, the lockdowns and rising COVID-19 cases have impacted the supply chain network. The disturbance in the supply chain network has additionally prompted delays in the food supply
The Vitamin B3 Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
- Feed Grade
- Pharmaceutical Grade
The Feed Grade segment dominated the by type segment and gathered --% of the Vitamin B3 Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
By Form, the market is primarily bifurcated into
- Dry
- Liquid
The Dry segment grabbed the major market share in 2020 dominated the from the segment. The segment gathered --% of the Vitamin B3 Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
By Source, the market is primarily segmented into
- Natural
- Synthetic
Based on the Source, the market is fragmented into Natural and Synthetic. The Synthetic segment accounted for the largest share and is expected to grow at --% CAGR during the forecast period 2021-2027. In 2020, the synthetic segment generated a revenue of US$ -- million.
By Application, the market is primarily bifurcated into
- Pharmaceutical
- Nutrition
- Consumer
- Agrochemicals
The pharmaceutical segment grabbed --% of the Vitamin B3 Market in 2020. Moreover, the market of this segment is expected to grow at --% CAGR to reach US$ -- million by the year 2027.
Vitamin B3 Market Geographical Segmentation Includes:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Based on the estimation, the North America region grabbed --% market share in 2020 and gathered almost US$ -- million in revenue in 2020. The market of the region would proliferate owing to the surging end-users awareness.
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The major players targeting the market includes
- Glanbia plc
- Jubilant Life Sciences Ltd.
- Shandong Hongda Biotechnology Co., Ltd.
- Lonza Group AG
- Jiangsu Brother Vitamin Co. Ltd.
- Lasons India
- NutraScience Labs
- Spectrum Chemical Mfg. Corp
- Vertellus
- The Chemical Co.
Competitive Landscape
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in Vitamin B3 Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Vitamin B3 Market?
- Which factors are influencing the Vitamin B3 Market over the forecast period?
- What are the global challenges, threats, and risks in Vitamin B3 Market?
- Which factors are propelling and restraining Vitamin B3 Market?
- What are the demanding global regions of the Vitamin B3 Market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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