B Vitamins are group of nutrients that play a vital role in human body. Vitamin B is used to prevent infections, increase metabolism, and also to help in proper nerve function. Thus, Vitamin B market is expected witness high growth in forecast period.
Based on type, the global vitamin B market has been
segmented into vitamin B1 (Thiamine), vitamin B3 (Niacin), vitamin B6
(Pyridoxine), vitamin B7 (Biotin), vitamin B9 (Folic Acid), vitamin B12
(Cobalamin), and others. The vitamin B1 (Thiamine) segment is anticipated to
gain the largest revenue share in the global vitamin B market and shall
maintain lead throughout the forecast period. Vitamin B1 (Thiamine) is being
used in various end-users such as dietary supplements & nutraceuticals
manufacturers, food &beverages, pharmaceuticals, animal feed, and others as
thiamine helps in boosting the metabolism by converting nutrients into energy.
This is a crucial determinant that is catalyzing the growth of vitamin B1
(Thiamine) segment in the global vitamin B market. The same segment is expected
to grow with the highest growth rate owing to the growth of end-use industries
in which vitamin B is used.
The global vitamin B market is been classified, by end-user,
into pharmaceutical, dietary supplements & nutraceuticals, and others. The
pharmaceutical segment is expected to gain largest share, owing to the factor
that as vitamin B is used as curative medicines, for diseases such as
inflammatory bowel disease, celiac disease and rheumatoid arthritis.
The global vitamin B market has been segregated, by
distribution channel into store-based and non-store based. The store-based
segment has been further segregated into supermarkets and hypermarkets,
specialty store, and others. The store-based segment is expected to generate
higher revenue, with the specialty store sub-segment being the largest. These
supplements are prescribed by doctors and nutritionists and are generally
available in selected retail stores. The non-store-based segment is expected to
register the higher CAGR during the assessment period owing to technological
advancements in the e-commerce industry and growing consumer preference for
online retailing.
Asia-Pacific vitamin B market is expected to grow at a rapid
pace due to the surging consumption of vitamin B in the regions due to health
benefits associated with it. Moreover, Europe and RoW is also expected to
project a significant market share owing to the increasing awareness about
various benefits associated with consumption of vitamin B complex.
Vitamin B complex help in maintaining good eyesight, DNA production and
repair, and antioxidant. increasing number of patients with vitamin B
deficiency in the region.
Key Players:
Some
of the key players in the global vitamin B market are Nature's Bounty Co. (US),
Sanofi SA (France), Country Life, LLC (Japan), Mason Vitamins, Inc. (US),
NatureSmart, LLC (Canada), Solgar Inc. (US), NOW Health Group, Inc. (US),
Natures Truth Products, LLC. (US), Pharmavite LLC (US), The Synergy Company
(US).
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