Vitamin B3 Market to Grow at 5.44% CAGR from 2021 to 2026 | 37% of the market growth will originate from North America | 17,000+ Technavio Reports – QNT Press Release

[ad_1]

NEW YORK, May 27, 2022 /PRNewswire/ — The vitamin B3 market size is anticipated to grow by USD 104.26 million from 2021 to 2026, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 5.44% during the forecast period. The market will witness positive growth during the forecast period due to the increasing prevalence of vitamin B3 deficiency. In addition, increasing consumer spending on nutrient supplements will also emerge as one of the prominent vitamin B3 market trends that is expected to impact the industry positively in the forecast period. However, the regulatory control on supplement usage limits due to side effects such as flushing will limit the market’s growth.

For more insights on the factors influencing the market growth, Read our Sample Report

Vitamin B3 Market: Type Landscape

• The vitamin B3 market has been segmented by type into food grade and pharmaceutical grade. The food grade segment held the largest vitamin B3 market share in 2021. The segment will account for the highest growth during the forecast period.
• The growth of this segment can be attributed to the increasing inclination of consumers toward taking vitamin B3 from food rather than tablets or other supplements due to the toxicity of the products. Thus, the food-grade segment in the global vitamin B3 market will witness growth in the forecast years.

Vitamin B3 Market: Geography Landscape

• 37% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for vitamin B3 in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
• The busy lifestyles, rising income levels, and awareness regarding the benefits of vitamin B3 among consumers will facilitate the vitamin B3 market growth in North America over the forecast period.
• Other revenue-generating economies in the region include Canada and Denmark.

Download Sample Report for additional insights on each contributing segment

Vitamin B3 Market Vendor Landscape

The vitamin B3 market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market. To make the most of the opportunities and recover from post pandemic impact, market vendors should focus more on the growth prospects in the fast -growing segments, while maintaining their positions in the slow-growing segments.

Companies Covered:

• Agro Cool India Ltd.
• Brother Enterprises Holding Co. Ltd.
• Foodchem International Corp.
• Glanbia plc
• Ishita Drugs and Industries Ltd.
• Jubilant Pharmova Ltd.
• Koninklijke DSM NV
• Lasons India Pvt. Ltd.
• Lonza Group Ltd.
• Merck KGaA
• Shandong Hongda Biotechnology Co. Ltd.
• Spectrum Laboratory Products Inc.
• TER HELL and Co. GmbH
• The Chemical Co.
• Twinlab Consolidated Holdings Inc.
• Vanetta Ltd.
• Veer Chemie and Aromatics Pvt. Ltd.
• Vertellus Holdings LLC
• Western Drugs Ltd.
• Yuki Gosei Kogyo Co. Ltd.

Download Sample Report Copy to Know More about Vendor Insights and Strategic Initiatives

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2020, 2021, until 2026
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Related Reports:

Vitamin D3 Market by Application and Geography – Forecast and Analysis 2022-2026

Gummy Vitamin Market by Distribution channel and Geography – Forecast and Analysis 2022-2026

Full story available on Benzinga.com

[ad_2]

Source link