Vitamin B3 Market Size To Reach $434.31 Million By 2030

Vitamin B3 Market Growth & Trends

The global vitamin B3 market size is expected to reach USD 434.31 million by 2030, growing at a CAGR of 2.2% during the forecast period, according to a new report by Grand View Research, Inc. The Vitamin B3 market encompasses niacin, nicotinamide, and vitamin B3 supplements utilized across various sectors such as nutrition, dietary supplements, and healthcare. These supplements are crucial for supportingsupport cellular metabolism, cardiovascular health, and skin wellness.

They offer numerous benefits, including enhanced energy metabolism, skin protection, and improved cardiovascular function, particularly for individuals with vitamin B3 deficiencies or dietary insufficiencies. The market dynamics are influenced by evolving dietary supplement regulations, the expanding application of niacinamide, and the increasing awareness of vitamin B3’s health benefits in personalized nutrition and wellness plans.

Several key drivers are propelling the market growth of the Vitamin B3 market. One significant factor is the rising prevalence of lifestyle-related health conditions such as cardiovascular diseases, diabetes, and cognitive decline, which are largely driven by poor dietary habits, sedentary lifestyles, and increasing stress levels.

Vitamin B3 is vital in managing these conditions by reducing cholesterol levels, regulating blood sugar,, and supporting brain function. AdditionallyIn addition, the growing consumer awareness and demand for health supplements are boosting market growth. As more people become health-conscious, there is a heightened interest in consuming vitamins and minerals to maintain overall health and well-being, with vitamin B3 being integral to various bodily functions.

Furthermore, the market is witnessing opportunities for expansion into the functional food and beverage market. Incorporating Vitamin B3 into functional food and beverage formulations allows companies to cater to consumers looking for convenient and innovative ways to enhance their nutritional intake.

This diversification enables vitamin B3 suppliers to tap into new distribution channels, expand their consumer base, and differentiate their products in a competitive landscape. The increased incorporation of vitamin B3 into animal feed additives to support livestock and poultry health is also drivingdrives market growth, ensuring optimal nutrition and productivity in the animal agriculture sector.

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Vitamin B3 Market Report Highlights

• The synthetically sourced vitamin B3 marketsegment is expected to grow at a CAGR of 1.7% from 2024 to 2030. This growth is primarily driven by the consistent demand for affordable and stable vitamin supplements across various industries, including pharmaceuticals, food and beverages, and cosmetics.

• Sales of liquid vitamin B3 is expected to grow at a CAGR of 3.1% from 2024 to 2030. Consumer preferences are shifting towards liquid supplements due to their perceived ease of consumption and quicker absorption compared tothan traditional pill forms. This trend is expected to bolster demand, especially among health-conscious consumers seeking convenient nutritional solutions.

• Application of vitamin B3 in cosmetics is expected to grow at a CAGR of 5.6% from 2024 to 2030. Vitamin B3, also known as niacinamide, is prized in skincare and cosmetics for its multifaceted benefits. It is known to improve skin barrier function, reduce inflammation, enhance skin hydration, and even out skin tone.

Vitamin B3 Market Segmentation

For the purpose of this report, Grand View Research has segmented the vitamin B3 market on the basis ofbased on source, form, application, and region:

Vitamin B3 Source Outlook (Revenue, USD Million, 2018 - 2030)

• Natural

• Synthetic

Vitamin B3 Form Outlook (Revenue, USD Million, 2018 - 2030)

• Dry

• Liquid

Vitamin B3 Distribution Channel Application Outlook (Revenue, USD Million, 2018 - 2030)

• Animal Feed

• Food and Beverage

• Pharmaceutical

• Cosmetics

• Others

Vitamin B3 Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • France

  • Germany

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

• South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of in the Vitamin B3 Market

• Jubilant Life Sciences Ltd.

• DSM

• Glanbia plc

• NutraScience Labs

• BASF SE

• Graham Chemical

• Western Drugs Ltd.

• Fengchen Group Co.,Ltd

• Spectrum Chemical Mfg. Corp

• Vertellus Specialties, Inc.