Niacinamide Market Size, Analysis, Trends and Segmented Data by Top Companies and Opportunities 2020-2027

Market Size – USD 623.1 Million in 2018, Market Growth - CAGR of 2.6%, Market Trends – Increase in the application in cosmetics.

Niacinamide, also known as Nicotinamide, is an essential nutrient and is a form of vitamin B-3. A B-3 deficiency can lead to disorders of the kidneys, brain, and skin. Consumption of Nicotinamide can help prevent the deficiency of B-3. The nutrient is used for the treatment of skin diseases such as acne and eczema. The product is found in small amount in meat, fish, nuts, mushrooms, and milk, and deficiency of this nutrient can lead to weakness, indigestion, anorexia, dementia, diarrhea, and irritability. Growth in the population across the globe and increasing awareness regarding the nutritional value in food is expected to drive the market in the food and beverage industry.

This report covers the recent COVID-19 incidence and its impact on Niacinamide Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants include Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, and Lasons India, among others.

Niacinamide's chemical name is 3-pyridine carboxamide. It is directly synthesized by the human body and is easily absorbed by the gastrointestinal (GI) tract. Major dietary sources of the product are milk, meat, and grains. It enhances the nutritional value of the food products. It is commonly used in cereals, bakery products, and beverages.

Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Niacinamide market on the basis of grade, form, end-users, and region:

Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Pharmaceutical Grade
• Feed Grade

Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Granular
• Powder
• Liquid

End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Pharmaceuticals
• Cosmeceutical
• Human Nutrition
• Animal Nutrition

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Regional Outlook (Revenue, USD Million; 2017-2027)
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest
• The market for Niacinamide is expected to grow owing to its increased applications for the treatment of pellagra, diabetes mellitus, acne, schizophrenia, and alcoholism. It is used in pharmaceutical products and is used to maintain proper heart functioning and healthy cholesterol levels. A rise in the pharmaceutical industry due to regular innovations and growing consumer awareness and affordability will be a significant driving factor for the market.
• It is used as a dietary supplement in tablets and capsules. It is employed in cosmetics as a skin and hair conditioning agent. It is undergoing clinical trials for its neuroprotective and antidiabetic effects, so as to use it in pharmaceutical drugs.
• Pharmaceutical Grade refers to the production processes used by pharmaceutical companies that manufacture drugs and other medicines. In the pharmaceutical industry, all drugs must undergo a rigorous approval process.
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