About Vitamin B
Vitamin B are a collection of eight water soluble vitamins essential for various metabolic processes. Vitamin B is a most essential vitamin, which is abundantly found in both plant and animal food sources, including fresh fruits, vegetables, wheat, milk, cheese, butter, dates, mushrooms, meat, fish, and eggs. Plays a vital role in a cell metabolism. They help with various functions, including creating energy from food, producing blood cells, and maintaining healthy skin cells, brain cells and other body tissues.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Vitamin B is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Vitamin B market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Amway (United States), Bayer AG (Germany), The Archer Daniel Midland Company (United States), Nature’s Bounty Co. (United States), Sanofi SA (France), Country Life, LLC (Japan), Mason Vitamins (United States), Nature Smart (United States), Merck & Co. (United States), Pfizer (United States), Lonza Group (Switzerland), ADM (United States) and Farbest Brands (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Pharmavite LLC (United States), The Synergy Company (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Vitamin B market by Type (B1 (Thiamin), B2 (Riboflavin), B3 (Niacin), B5 (Pantothenic Acid), B6 (Pyridoxine), B7 (Biotin), B9 (Folic Acid) and B12 (Cobalamin)), Application (Pharmaceutical, Dietary Supplement, Animal Feed, Cosmetic & Personal Care Products and Others) and Region.
On the basis of geography, the market of Vitamin B has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Disturbution Channel, the sub-segment i.e. Online Retail will boost the Vitamin B market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Vitamin B market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Children’s will boost the Vitamin B market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased demand for monogastric animal nutritional supplements
Market Growth Drivers:
Rising demand for vitamin B in beauty and personal care products., Increasing prevalence of vitamin B12 deficiency. and Rising vegan and vegetarian population.
Challenges:
The sourcing sustainable and bioavailable forms of vitamin B.
Restraints:
Side effect associated with overconsumption of vitamins. and Lack of awareness.
Opportunities:
Technological advancement in vitamin B12 production. and Expansion of healthcare sector.
Market Leaders and their expansionary development strategies
In November 2020, Bayer acquired majority stake in online vitamin company Care/of, giving it a majority ownership in the privately owned, personalized direct to consumer Nutrition Company. Care/of helps consumers build a daily routine of taking nutritional supplements specially tailored to their needs. The acquisition furthers Bayer’s strategic business objectives by strengthening company’s presence in the high growth area of personalized nutritionals.
In August 2023, Neurobion Forte launched campaign about Vitamin B Deficiency. New campaign film ‘ab feel krega India’ to continue its efforts on rising awareness around nerve health and Vitamin B Deficiency.
Key Target Audience
Stakeholders, Regulatory Bodies, Research and Development and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.