Vitamin B Price Trend

Vitamin B Prices December 2023

The price of vitamin B in the United States for Q4 2023 reached 38826 USD/MT in December. Similarly, the price trend for vitamin B in China in Q4 2023, settled at 33890 USD/MT in December 2023. In Germany, vitamin B prices reached 43858 USD/MT in Q4 2023.

Vitamin B Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Vitamin B Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of vitamin B pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of vitamin B at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of vitamin B price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing vitamin B price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Vitamin B Market Analysis

The global vitamin B market size reached US$ 842.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 1340.8 Billion, at a projected CAGR of 5.30% during 2023-2032.

• The evolution of e-commerce platforms has revolutionized the accessibility of health supplements, including vitamin B products, to consumers worldwide. As per the recent report by the IMARC Group, the global e-commerce market reached a noteworthy size of US$ 21.1 trillion in 2023. It is further projected that by 2032, this industry is expected to grow to a value of US$ 183.8 trillion.  These platforms are now essential in determining how customers make purchasing decisions, due to the ease of buying supplements online and the wide range of products that are accessible with just a click. Additionally, e-commerce systems provide a smooth buying experience by letting customers easily access product information, compare pricing, and read reviews. As a result, the development of e-commerce platforms has made vitamin B products more accessible, thereby stimulating market expansion and meeting a variety of customer demands throughout the world.
• The global aging population is increasing the demand for vitamin B-rich health supplements. Numerous health issues arise with aging, such as low food intake and impaired absorption of vital vitamins and minerals. As per the World Health Organization (WHO), in 2020, the population of individuals aged 60 years and above exceeded the count of children under the age of 5. Along with this, one-sixth of the world's population is expected to be 60 years of age or older by 2030, up from 1 billion in 2020 to 1.4 billion. Moreover, by 2050, there will be twice as many people in the world who are 60 years of age or older, a total of 2.1 billion people. Furthermore, it is anticipated that between 2020 and 2050, the number of individuals 80 years of age or older will triple, reaching 426 million. Consequently, supplemental vitamin B is essential to maintain healthy nerves, energy, metabolism, and cognitive function associated with aging. As a result, the growing geriatric population is driving the vitamin B products demand to stay active and improve general health as they age.
• Chronic diseases, such as cardiovascular disease (CVD) affect 7.6 million people in the UK as per the British Heart Foundation in January 2024. Approximately 27% of all deaths in the UK are related to heart and circulation diseases. As a result, getting enough Vitamin B has drawn attention due to its possible role in lowering the risk and improving the symptoms of some chronic illnesses. Moreover, studies indicate that taking supplements of vitamin B may have advantages including better glycemic control, cancer prevention, and cardiovascular health by prioritizing preventive healthcare methods.

Vitamin B News

The report covers the latest developments, updates, and trends impacting the global vitamin B market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in vitamin B production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the vitamin B price trend.

Latest developments in the vitamin B industry:

• October 2023: Purity Woods launched a new product called ORGANIC B COMPLETE, a USDA Certified Organic vitamin B complex supplement. This supplement addresses the high rates of vitamin B12 deficiency, particularly among plant-based eaters and older adults, by providing 1024% of the Daily Value (DV) of highly absorbable B12 sourced from natural ingredients. The formulation is vegan, non-GMO, and gluten-free, avoiding synthetic ingredients, pesticides, and other toxins commonly found in supplements.
• May 2023: Ildong Bioscience, a South Korean company, has secured patents for three proprietary probiotic strains known for their vitamin production capabilities, specifically B-vitamins and vitamin C. These strains were found to convert vitamin precursors into vitamins through enzymatic reactions. Ildong has commercialized 19 probiotic strains and reported an average production of 14.2 mg/ml of B vitamins and 29.9 mg/ml of vitamin C in controlled experiments.

Product Description

Vitamin B is a water-soluble vitamin vital for energy production, metabolism, and general health. For instance, Vitamins B1 (thiamine), B2 (riboflavin), B3 (niacin), B5 (pantothenic acid), B6 (pyridoxine), B7 (biotin), B9 (folate), and B12 (cobalamin) are among those in this category. For example, certain bacteria, plants, fungi, and mammals can all produce these vitamins. Vitamin B12 is the only B vitamin that the body is unable to produce on its own, thus people must obtain it from foods or supplements. Vitamin B can also be found in meat, fish, poultry, dairy, eggs, leafy greens, legumes, nuts, and fortified cereals. These vitamins are essential for many biological functions, including the synthesis of DNA, the production of red blood cells, the metabolism of proteins, fats, and carbohydrates, and the function of the neurological system.

Regional Coverage

The report provides a detailed analysis of the vitamin B market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the vitamin B price trend. 

Global Vitamin B Price

The report offers a holistic view of the global vitamin B pricing trends in the form of vitamin B price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of vitamin B but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed vitamin B demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Vitamin B Price

European vitamin B prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed vitamin B price information for a comprehensive list of countries.

North America Vitamin B Price

The analysis of vitamin B prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific vitamin B historical data within the United States and Canada can also be provided.

Middle East and Africa Vitamin B Price

The report explores the vitamin B pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on vitamin B prices for countries can also be provided.

Asia Pacific Vitamin B Price

The vitamin B pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This vitamin B price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Vitamin B Price

The analysis of vitamin B prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of vitamin B pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting vitamin B price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The vitamin B price charts ensure our clients remain at the forefront of the industry.