Vitamin B Market Research, Growth, Share, Sales, Industry Trends and Analysis by Forecast
Market Insight
Global Vitamin B Market is predicted to grow at a healthy CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report. B vitamins have a vital role in the human body. It helps in converting food into energy, maintaining healthy brain cells, skin cells, and other body tissues, creating new blood cells, and helping in proper nerve function. Vitamin B is of eight types- Vit B1 (thiamin), Vit B2 (riboflavin), Vit B3 (niacin), Vit B5 (pantothenic acid), Vit B6, Vit B7 (biotin), Vit B9 (folate), and Vit B12. Together, they are referred to as Vit B complex.
The MRFR report provides a complete segmental analysis of the Vitamin B Market report on the basis of type, form, end user, and distribution channel.
Various factors are propelling the vitamin B market growth. These factors, as stated by the latest MRFR report, include growing demand for vitamin B owing to its properties of increasing metabolism and helping in proper nerve function. Besides, it also helps to increase red blood cells and prevent infections. Moreover, the growing healthcare industry, the importance of maintaining a proper and active lifestyle, demand for health supplements, and increase in the geriatric population are also adding to the growth of the market.
Key Players and Industry Buzz
Leading players profiled in the vitamin B market report include The Synergy Company (US), Pharmavite LLC (US), Natures Truth Products, LLC. (US), NatureSmart, LLC (Canada), Mason Vitamins, Inc. (US), NOW Health Group, Inc. (US), Solgar Inc. (US), Country Life, LLC (Japan), Sanofi SA (France), Nature's Bounty Co. (US), and others.
September 2019: True Diagnostics has partnered with Veravas for commercializing VeraTest Biotin, which is a portable test to rapidly screen patient samples for determining whether the level of biotin (B7) present can throw off the accuracy of the test.
Market Segmentation
The MRFR report provides a complete segmental analysis of the Vitamin B Market report on the basis of type, form, end user, and distribution channel.
Based on type, the vitamin B market is segmented into vitamin B1, B3, B6, B7, B9, and B12. Of these, the vitamin B1 segment will have the largest share in the market over the forecast period. Vitamin B1 is largely used in different end use industries such as animal feed, pharmaceuticals, food and beverages, and nutraceuticals manufacturers, as thiamine helps to boost the metabolism by converting nutrients into energy.
Based on form, the vitamin B market is segmented into liquids, tablets and capsules, chewables, and others. Of these, the tablets and capsules segment will dominate the market over the forecast period. This is owing to growing inclination towards vitamin B supplements as this helps to produce red blood cells as well as increase the level of energy in the body.
Based on end user, the vitamin B market is segmented into nutraceuticals, dietary supplements, pharmaceutical, and others. Of these, the pharmaceutical segment will lead the market over the forecast period due to the fact that vitamin B is used in the form of curative medicines for rheumatoid arthritis, celiac disease, and inflammatory bowel disease.
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