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Abstract, Snapshot, Market Analysis & Market Definition: Nicotinamide (NAA) (aka Niacinamide) MarketNiacinamide, also called nicotinamide, is a form of vitamin B-3, an essential nutrient. A B-3 deficiency can lead to disorders of the skin, kidneys, and brain. Taking niacinamide can help prevent B-3 deficiency. Niacin, also known as nicotinic acid, is an organic compound and is, depending on the definition used, one of the 20 to 80 essential human nutrients. Together with nicotinamide it makes up the group known as Niacin complex. It has the formula C6H5NO2 and belongs to the group of the pyridinecarboxylic acids. It is estimated that the global vitamin B3 market size is valued at USD 1.15 billion in 2022 and is expected to reach USD 1.5 billion by 2030, with a CAGR (2022-30) of 3.04%. In global market, the sales of Nicotinamide increased from 55407 MT in 2013 to 76862 MT in 2017. In 2017, the global Nicotinamide market is led by Europe, capturing about 31.97% of global Nicotinamide consumption. The current demand for the year 2022 for vitamin B3 has exceeded 90,000 tons, and the future market demand is expected to exceed 120,000 tons by the year 2030. China is the second-largest region-wise market with 28.81% global consumption share. The demand for vitamin B3 is mainly driven by the feed industry, where more than 70% of vitamin B3 is used in feed additives, followed by the food and beverage industry. , Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises, Lasons India, and Vanetta, among others, have production bases in China, India, and Europe, with growing production capacity. Vertellus Europe's production capacity has been transferred to China. The pollution of the whole chain of the vitamin industry is not small, resulting in the general transfer of the production capacity of the vitamin industry to China. With the advantages of Chinese enterprises' production capacity, the competitiveness of other foreign enterprises has gradually declined. It is expected that the new production capacity in the future will mainly come from China and India. Vitamin B3 is an industry with concentrated oligarchs and high technical barriers, and it is difficult for new entrants to challenge the existing market pattern in the short term.
Market Segmentation, Outlook & Regional Insights: Nicotinamide (NAA) (aka Niacinamide) MarketSegmentation by Product Type: Breakdown of data from year 2014 to 2019 and forecast until 2030:
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Nicotinamide (NAA) (aka Niacinamide) Market Size Growth Rate by Type (2019-2025) 1.3.2 Pharmaceutical Grade 1.3.3 Feed Grade 1.3.4 Other 1.4 1.4.1 Global Nicotinamide (NAA) (aka Niacinamide) Market Share by Application (2019-2025) 1.4.2 Feed Additives 1.4.3 Food and Drinks Industry 1.4.4 Pharmaceutical Industry 1.4.5 Daily Chemicals 1.4.6 Other 1.5 Study Objectives 1.6 Years Considered2 Global Growth Trends 2.1 | read more...