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Vitamin B3 Market Size, Trends, Analysis, and Outlook By Product (Pharmaceutical Grade, Feed Grade), By Application (Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals), by Region, Country, Segment, and Companies, 2024-2030

March 2024 | 190 pages | ID: VECC869827E5EN
VPAResearch

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The global Vitamin B3 market size is poised to register 6.28% growth (CAGR) from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global Vitamin B3 market By Product (Pharmaceutical Grade, Feed Grade), By Application (Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals).

The future of Vitamin B3, also known as niacin or nicotinic acid, is shaped by several key trends driving innovation in nutrition and preventive healthcare. With the increasing recognition of Vitamin B3 as an essential nutrient that plays a critical role in cellular metabolism, energy production, and DNA repair, there is a growing interest in dietary supplements and fortified foods that offer optimal doses and bioavailability of this micronutrient. Technological advancements in Vitamin B3 formulations, including extended-release tablets, liposomal encapsulation, and micronized powders, are enhancing the absorption and tolerability of niacin supplements, enabling individuals to meet their daily requirements and prevent deficiency-related health conditions such as pellagra, dermatitis, and neurological disorders. Moreover, the integration of personalized nutrition approaches such as genetic testing and metabolic profiling is enabling tailored supplementation strategies based on individual nutrient needs, genetic variations, and lifestyle factors, optimizing the bioavailability and therapeutic effects of Vitamin B3 while minimizing the risk of adverse reactions such as flushing and liver toxicity. Additionally, there is a growing emphasis on education and public awareness campaigns about the importance of balanced diets and nutritional supplementation in promoting overall health and wellness, with healthcare providers, dietitians, and wellness coaches advocating for evidence-based recommendations and lifestyle modifications to support optimal Vitamin B3 status and reduce the risk of chronic diseases such as cardiovascular disease, diabetes, and cognitive decline..

Vitamin B3 Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Vitamin B3 market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Vitamin B3 survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Vitamin B3 industry.

Key market trends defining the global Vitamin B3 demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Vitamin B3 Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Vitamin B3 industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Vitamin B3 companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Vitamin B3 industry

Leading Vitamin B3 companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Vitamin B3 companies.

Vitamin B3 Market Study- Strategic Analysis Review

The Vitamin B3 market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-
  • Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
  • Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
  • Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
  • Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.
Vitamin B3 Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Vitamin B3 industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Vitamin B3 Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Vitamin B3 Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Vitamin B3 market segments. Similarly, Strong end-user demand is encouraging Canadian Vitamin B3 companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Vitamin B3 market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Vitamin B3 Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Vitamin B3 industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Vitamin B3 market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Vitamin B3 Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Vitamin B3 in Asia Pacific. In particular, China, India, and South East Asian Vitamin B3 markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Vitamin B3 Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Vitamin B3 Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Vitamin B3 market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Vitamin B3.

Vitamin B3 Market Company Profiles

The global Vitamin B3 market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are BASF SE, Bayer AG, brother enterprises, DSM, DSM, Evonik Industries, Exxon Mobil Corp, Jubilant Life Sciences Ltd, Lasons, Lonza, Resonance Specialties Ltd, SABIC, Shandong Hongda Biological Technology Co. Ltd, Tianjin Zhongrui Pharmaceutical, Vanetta, Vertellus, Zhejiang Lanbo Biotechnology Co. Ltd.

Recent Vitamin B3 Market Developments

The global Vitamin B3 market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Vitamin B3 Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis
  • Pricing Analysis
  • Value Chain Analysis
  • SWOT Profile
  • Market Dynamics- Trends, Drivers, Challenges
  • Porter’s Five Forces Analysis
  • Macroeconomic Impact Analysis
  • Case Scenarios- Low, Base, High
Market Segmentation:

By Type

Stationary 3D and 4D Ultrasound Devices

Portable 3D and 4D Ultrasound Devices

By Display

Color Ultrasound

B/W Ultrasound

By Portability

Trolley or Cart-Based Ultrasound Systems

Compact/Handheld Ultrasound Systems

Point-of-Pare (PoC) Ultrasound Systems

By Application

Radiology or General Imaging

Obstetrics or Gynecology

Cardiology

Urology

Vascular

Orthopedic and Musculoskeletal

Pain Management

Others

By End-User

Hospitals

Surgical Centers and Diagnostic Centers

Maternity Centers

Ambulatory Care Centers

Research and Academia

Others

Geographical Segmentation:
  • North America (3 markets)
  • Europe (6 markets)
  • Asia Pacific (6 markets)
  • Latin America (3 markets)
  • Middle East Africa (5 markets)
Companies

BASF SE

Bayer AG

brother enterprises

DSM

DSM

Evonik Industries

Exxon Mobil Corp

Jubilant Life Sciences Ltd

Lasons

Lonza

Resonance Specialties Ltd

SABIC

Shandong Hongda Biological Technology Co. Ltd

Tianjin Zhongrui Pharmaceutical

Vanetta

Vertellus

Zhejiang Lanbo Biotechnology Co. Ltd

Formats Available: Excel, PDF, and PPT
1. EXECUTIVE SUMMARY

1.1 Vitamin B3 Market Overview and Key Findings, 2024
1.2 Vitamin B3 Market Size and Growth Outlook, 2021- 2030
1.3 Vitamin B3 Market Growth Opportunities to 2030
1.4 Key Vitamin B3 Market Trends and Challenges
  1.4.1 Vitamin B3 Market Drivers and Trends
  1.4.2 Vitamin B3 Market Challenges
1.5 Competitive Landscape and Key Players
1.6 Competitive Analysis- Growth Strategies Adopted by Leading Vitamin B3 Companies

2. VITAMIN B3 MARKET SIZE OUTLOOK TO 2030

2.1 Vitamin B3 Market Size Outlook, USD Million, 2021- 2030
2.2 Vitamin B3 Incremental Market Growth Outlook, %, 2021- 2030
2.3 Segment Snapshot, 2024

3. VITAMIN B3 MARKET- STRATEGIC ANALYSIS REVIEW

3.1 Porter's Five Forces Analysis
* Threat of New Entrants
* Threat of Substitutes
* Intensity of Competitive Rivalry
* Bargaining Power of Buyers
* Bargaining Power of Suppliers
3.2 Value Chain Analysis
3.3 SWOT Analysis

4. VITAMIN B3 MARKET SEGMENTATION ANALYSIS AND OUTLOOK

4.1 Market Segmentation and Scope
4.2 Market Breakdown by Type, Application, and Other Segments, 2021-2030
By Type
Stationary 3D and 4D Ultrasound Devices
Portable 3D and 4D Ultrasound Devices
By Display
Color Ultrasound
B/W Ultrasound
By Portability
Trolley or Cart-Based Ultrasound Systems
Compact/Handheld Ultrasound Systems
Point-of-Pare (PoC) Ultrasound Systems
By Application
Radiology or General Imaging
Obstetrics or Gynecology
Cardiology
Urology
Vascular
Orthopedic and Musculoskeletal
Pain Management
Others
By End-User
Hospitals
Surgical Centers and Diagnostic Centers
Maternity Centers
Ambulatory Care Centers
Research and Academia
Others
4.3 Growth Prospects and Niche Opportunities, 2023- 2030
4.4 Regional comparison of Market Growth, CAGR, 2023-2030

5. REGION-WISE MARKET OUTLOOK TO 2030

5.1 Key Findings for Asia Pacific Vitamin B3 Market, 2025
5.2 Asia Pacific Vitamin B3 Market Size Outlook by Type, 2021- 2030
5.3 Asia Pacific Vitamin B3 Market Size Outlook by Application, 2021- 2030
5.4 Key Findings for Europe Vitamin B3 Market, 2025
5.5 Europe Vitamin B3 Market Size Outlook by Type, 2021- 2030
5.6 Europe Vitamin B3 Market Size Outlook by Application, 2021- 2030
5.7 Key Findings for North America Vitamin B3 Market, 2025
5.8 North America Vitamin B3 Market Size Outlook by Type, 2021- 2030
5.9 North America Vitamin B3 Market Size Outlook by Application, 2021- 2030
5.10 Key Findings for South America Vitamin B3 Market, 2025
5.11 South America Pacific Vitamin B3 Market Size Outlook by Type, 2021- 2030
5.12 South America Vitamin B3 Market Size Outlook by Application, 2021- 2030
5.13 Key Findings for Middle East and Africa Vitamin B3 Market, 2025
5.14 Middle East Africa Vitamin B3 Market Size Outlook by Type, 2021- 2030
5.15 Middle East Africa Vitamin B3 Market Size Outlook by Application, 2021- 2030

6. COUNTRY-WISE MARKET SIZE OUTLOOK TO 2030

6.1 US Vitamin B3 Market Size Outlook and Revenue Growth Forecasts
6.2 US Vitamin B3 Industry Drivers and Opportunities
6.3 Canada Market Size Outlook and Revenue Growth Forecasts
6.4 Canada Vitamin B3 Industry Drivers and Opportunities
6.6 Mexico Market Size Outlook and Revenue Growth Forecasts
6.6 Mexico Vitamin B3 Industry Drivers and Opportunities
6.7 Germany Market Size Outlook and Revenue Growth Forecasts
6.8 Germany Vitamin B3 Industry Drivers and Opportunities
6.9 France Market Size Outlook and Revenue Growth Forecasts
6.10 France Vitamin B3 Industry Drivers and Opportunities
6.11 UK Market Size Outlook and Revenue Growth Forecasts
6.12 UK Vitamin B3 Industry Drivers and Opportunities
6.13 Spain Market Size Outlook and Revenue Growth Forecasts
6.14 Spain Vitamin B3 Industry Drivers and Opportunities
6.16 Italy Market Size Outlook and Revenue Growth Forecasts
6.16 Italy Vitamin B3 Industry Drivers and Opportunities
6.17 Rest of Europe Market Size Outlook and Revenue Growth Forecasts
6.18 Rest of Europe Vitamin B3 Industry Drivers and Opportunities
6.19 China Market Size Outlook and Revenue Growth Forecasts
6.20 China Vitamin B3 Industry Drivers and Opportunities
6.21 India Market Size Outlook and Revenue Growth Forecasts
6.22 India Vitamin B3 Industry Drivers and Opportunities
6.23 Japan Market Size Outlook and Revenue Growth Forecasts
6.24 Japan Vitamin B3 Industry Drivers and Opportunities
6.26 South Korea Market Size Outlook and Revenue Growth Forecasts
6.26 South Korea Vitamin B3 Industry Drivers and Opportunities
6.27 Australia Market Size Outlook and Revenue Growth Forecasts
6.28 Australia Vitamin B3 Industry Drivers and Opportunities
6.29 South East Asia Market Size Outlook and Revenue Growth Forecasts
6.30 South East Asia Vitamin B3 Industry Drivers and Opportunities
6.31 Rest of Asia Pacific Market Size Outlook and Revenue Growth Forecasts
6.32 Rest of Asia Pacific Vitamin B3 Industry Drivers and Opportunities
6.33 Brazil Market Size Outlook and Revenue Growth Forecasts
6.34 Brazil Vitamin B3 Industry Drivers and Opportunities
6.36 Argentina Market Size Outlook and Revenue Growth Forecasts
6.36 Argentina Vitamin B3 Industry Drivers and Opportunities
6.37 Rest of South America Market Size Outlook and Revenue Growth Forecasts
6.38 Rest of South America Vitamin B3 Industry Drivers and Opportunities
6.39 Middle East Market Size Outlook and Revenue Growth Forecasts
6.40 Middle East Vitamin B3 Industry Drivers and Opportunities
6.41 Africa Market Size Outlook and Revenue Growth Forecasts
6.42 Africa Vitamin B3 Industry Drivers and Opportunities

7. VITAMIN B3 MARKET OUTLOOK ACROSS SCENARIOS

7.1 Low Growth Case
7.2 Reference Growth Case
7.3 High Growth Case

8. VITAMIN B3 COMPANY PROFILES

8.1 Profiles of Leading Vitamin B3 Companies in the Market
8.2 Business Descriptions, SWOT Analysis, and Growth Strategies
8.3 Financial Performance and Key Metrics
BASF SE
Bayer AG
brother enterprises
DSM
DSM
Evonik Industries
Exxon Mobil Corp
Jubilant Life Sciences Ltd
Lasons
Lonza
Resonance Specialties Ltd
SABIC
Shandong Hongda Biological Technology Co. Ltd
Tianjin Zhongrui Pharmaceutical
Vanetta
Vertellus
Zhejiang Lanbo Biotechnology Co. Ltd

9. APPENDIX

9.1 Scope of the Report
9.2 Research Methodology and Data Sources
9.3 Glossary of Terms
9.4 Market Definitions
9.5 Contact Information


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