Niacin is consumed in the form of vitamin B3 and its deficiency causes pellagra in human beings. Niacinamide which also known as Nicotinic acid amide is used with niacin as essential supplement. Both the nutrients are found in many food products of daily consumption like meat, fish, beans and green vegetable. Production of niacin and Niacinamide can be in several forms like powder, liquid and granular. These chemicals also cater various end-uses such as human nutrition, animal nutrition, cosmeceuticals and pharmaceuticals.
Latest Fact.MR report analyzes the growth of global Niacin and Niacinamide market and anticipates its growth rate to be around 5% CAGR for the forecast period 2019-2027. Multiple factors like increased healthcare expenditure, growing inclination towards healthy eating, increase in consumption of cosmeceutical products and advantages of niacin and Niacinamide propel global niacin and Niacinamide market.
Schizophrenia treatment propels market
Niacin and Niacinamide have proven effect in various health disorders like Pellagra, melanoma and Schizophrenia. Niacinamide is consumed to reduce Adrenochrome which contributes to Schizophrenia. Vitamin B3 supplements are prescribed to all types of schizophrenia patients, from general to chronic ones in order to provide a healthy lifestyle. Schizophrenic patients get safe and effective treatment with these chemicals along with hopeful and sustainable life. The above medical impacts have shifted demographics in favor of niacin and Niacinamide consumption, thereby surging the global niacin and Niacinamide market.
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Fact.MR report highlights the importance of animal nutrition segment in niacin and Niacinamide market. It states that animal nutrition was estimated to acquire 60% of global Niacin and Niacinamide market in 2018. The major benefit from consumption of these chemicals is in terms of Ketosis reduction. Ketosis generally effects dairy cattle during early lactation and negatively impacts the milk production. Niacin and Niacinamide effect improves energy metabolism in cattle with significant changes like increased milk production and alleviated blood changes. The report finds that Niacin supplemented cows produced relatively more milk with greater fat percentage in comparison to a normal cow.
Niacin a cost-effective solution
Niacin is also gaining popularity as the potential treatment of hyperphosphatemia which occurs in patients with end-stage renal disorder. Niacin consumption is clinically safe and effective which prompts the researchers to analyze its efficacy in hyperphosphatemia patients that are undergoing dialysis. Niacin is eyed by medical fraternity as a cost-effective solution that can act as add-on therapy in phosphorous management of dialysis patients.
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Europe is the most prominent region in global niacin and Niacinamide market and is known to acquire one fourth of the global market in year 2018. Enhanced DCS in cattle, rising child hood obesity cases, growing unhealthy food consumption patterns and presence of giant players empowers Europe in global market. Nations in Europe are facing the challenge 0f growing downer cow syndrome that has drastically reduced milk production. Government authorities are spreading awareness amongst dairy producers about benefits of Niacin consumption in increasing the milk production capacity of cattle.
Major players in global Niacin and Niacinamide market are Lonza Group AG, BASF SE and Evonik Industries AG.