The global vitamin B complex ingredients market size reached US$ 2.99 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.03 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028. The increasing awareness about the importance of nutrition, outbreak of coronavirus disease, growing importance of B complex vitamins in cellular metabolism, and rise the in the elderly population, who often need more dietary supplements represent some of the key factors driving the market.
Vitamin B complex is a group of water-soluble vitamins that play essential roles in various bodily functions, including energy production, metabolism, and the maintenance of a healthy nervous system. The B complex vitamins consist of eight individual vitamins, namely thiamine (B1), riboflavin (B2), niacin (B3), pantothenic acid (B5), pyridoxine (B6), biotin (B7), folate (B9), and cobalamin (B12). Sources of vitamin B complex ingredients can be found in a variety of foods. Thiamine (B1) is abundant in whole grains, legumes, and pork. Riboflavin (B2) is found in dairy products, lean meats, and leafy greens, which is necessary for energy production, cell function, and fat metabolism. Niacin (B3) is present in poultry, fish, and nuts and is used by the body to turn food into energy. Pantothenic acid (B5) is found in meat, eggs, and whole grains and is utilized for the production of blood cells. Pyridoxine (B6) can be obtained from meat, fish, and bananas to assists in amino acid metabolism, red blood cell production, and the creation of neurotransmitters. Biotin (B7) is found in organ meats, eggs, and nuts, which is essential for hair, skin, and nail health. Folate or folic acid (B9) plays an important role in mental and emotional health and is abundant in leafy greens, legumes, and citrus fruits. Cobalamin (B12) plays a critical role in the pathways of the body that produce cellular energy and is primarily found in animal products such as meat, fish, and dairy. Each vitamin has a unique structure and function due to which they work together synergistically. Vitamin B complex ingredients typically contain varying amounts of these vitamins to ensure adequate intake for optimal health.
Vitamin B Complex Ingredients Market Trends:
One of the primary factors driving the market is the increasing awareness about the importance of nutrition and the impact of nutrient deficiencies. These ingredients play an essential role in maintaining overall health and well-being of individuals. Each vitamin in the B complex has specific functions that contribute to various physiological processes, making them crucial for optimal bodily function. Besides this, the outbreak of coronavirus disease (COVID-19) pandemic has accelerated the product sales as people look to improve their immune health and reduce susceptibility to illnesses. . Apart from this, with the increase in the elderly population, who often need more dietary supplements due to decreased nutrient absorption with age, the market is expected to grow. Furthermore, as people have become more health-conscious, the fitness and wellness industry has expanded. As a result, several individuals are opting for vitamin B complex supplements to support their general health, boost energy levels, or aid in recovery and muscle growth. This is expected to escalate the demand for vitamin B complex ingredients. Moreover, the advancement in technology has allowed manufacturers to fortify a wide range of food products with vitamin B complex, thus creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global vitamin B complex ingredients market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.
- Vitamin B1
- Vitamin B2
- Vitamin B3
- Vitamin B5
- Vitamin B6
- Vitamin B7
- Vitamin B9
- Vitamin B12
The report has provided a detailed breakup and analysis of the vitamin B complex ingredients market based on the type. This includes vitamin B1, vitamin B2, vitamin B3, vitamin B5, vitamin B6, vitamin B7, vitamin B9, and vitamin B12. According to the report, vitamin B1 represented the largest segment.
- Foods and Beverages
- Animal Feed
A detailed breakup and analysis of the vitamin B complex ingredients market based on the application has also been provided in the report. This includes pharmaceuticals, foods and beverages, and animal feed. According to the report, food and beverages accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for vitamin B complex ingredients. Some of the factors driving the North America vitamin B complex ingredients market included growing awareness about health and wellness, increasing adoption of vegetarian and vegan diets, and aging population.
The report has also provided a comprehensive analysis of the competitive landscape in the global vitamin B complex ingredients market. Detailed profiles of all major companies have been provided. Some of the companies covered include Adisseo France S.A.S. (China National Bluestar (Group) Co. Ltd.), AIE Pharamceuticals Inc., Amway Corp (Alticor Inc.), BASF SE, Bluebonnet Nutrition Corporation, Koninklijke DSM N.V., North American Herb and Spice, Nutrivolv Ltd., Parkacre Ltd., Thorne Healthtech Inc., Vertellus Holdings LLC, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B7, Vitamin B9, Vitamin B12
||Pharmaceuticals, Foods and Beverages, Animal Feed
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Adisseo France S.A.S. (China National Bluestar (Group) Co. Ltd.), AIE Pharamceuticals Inc., Amway Corp (Alticor Inc.), BASF SE, Bluebonnet Nutrition Corporation, Koninklijke DSM N.V., North American Herb and Spice, Nutrivolv Ltd., Parkacre Ltd., Thorne Healthtech Inc., Vertellus Holdings LLC, etc.
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Key Questions Answered in This Report:
- How has the global vitamin B complex ingredients market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global vitamin B complex ingredients market?
- What is the impact of each driver, restraint, and opportunity on the global vitamin B complex ingredients market?
- What are the key regional markets?
- Which countries represent the most attractive vitamin B complex ingredients market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the vitamin B complex ingredients market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the vitamin B complex ingredients market?
- What is the competitive structure of the global vitamin B complex ingredients market?
- Who are the key players/companies in the global vitamin B complex ingredients market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the vitamin B complex ingredients from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global vitamin B complex ingredients market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the vitamin B complex ingredients industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.