Growing consciousness about following healthy diet in emerging countries will boost the Global Vitamin B12 Market growth

The research report " Global Vitamin B12 Market: By Product Type (98% Vit B12, 2% Vit B12, 1% Vit B12 & Others), By End Use/Application (Pharma Industry, Food, Feed & Others), and Geography-Global/Region/Country Forecast to 2027", The Global Vitamin B12 market is anticipated to grow at high CAGR during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Global Vitamin B12 Market: By Product Type (98% Vit B12, 2% Vit B12, 1% Vit B12 & Others), By End Use/Application (Pharma Industry, Food, Feed & Others), and Geography-Global/Region/Country Forecast to 2027", The Global Vitamin B12 (Cobalamin) Market is anticipated to grow at a CAGR of 7.6% from USD 326.6 million in 2021 to USD 423.4 million in 2027.

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Global Vitamin B12 Market: Fundamental Dynamics

The Global Vitamin B12 (Cobalamin) Market is anticipated to grow at a CAGR of 7.6% from USD 326.6 million in 2021 to USD 423.4 million in 2027. This market study does the thorough analysis of the Vitamin B12 market along with focusing on recent trends, competitive landscape and regional analysis. Vitamin B12 is also called as cobalamin, which is a water-soluble vitamin. It is a cofactor in DNA synthesis and plays crucial role in the normal functioning of the nervous system. It is the biggest and structurally complex vitamin. The deficiency of this vitamin can cause irreversible injury particularly to the one’s nervous system and the brain. This vitamin is involved in the metabolism process like amino acid and fatty acid metabolism. Vitamin B12 deficiency causes harm to the one’s brain and this is the main factor streaming the vitamin B12 market growth. Vitamin B12 deficiency shows different symptoms like depression, pale skin, headaches difficult while walking, poor memory and breathlessness. Vitamin B12 deficiency found in elderly people as the acid production in their body is less. Mania and psychosis are a few other symptoms can occur due to the deficiency of vitamin B12. Low intake, use of certain medicines, certain intestinal disorders and malabsorption can cause vitamin B12 deficiency. But, the low awareness amid people from developing countries can hinder the market growth in upcoming years. Awareness among people about the importance of healthy diet in leading economies like China and India is anticipated to boost the market growth.

North America dominated the Global Vitamin B12 Market

North America among other regions dominated the global Vitamin Market owing to the occurrence of illnesses cause because of cobalamin deficiency. People in the region are more conscious about their health. A few other factors that can fuel the market growth are availability of new therapeutics options pertaining to different treatments and technologically advanced healthcare infrastructure in the region. Vitamin B12 market in Asia Pacific is projected to witness a steady growth because of the constant advancements in healthcare infrastructure and the growing awareness. Huge funds for research and development segment and growing government support for promoting development initiatives are two factors contribute greatly to stream the global vitamin B12 market growth.

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Impact of COVID-19 Vitamin B12 Market:

In addition, the report discusses the implications of COVID-19, including the industry's initial response and strategies for ensuring business continuity in the coming years.

Competition Assessment:

There are a number of industry players operating in the market but the most prominent players are given here, which include Sanofi-Aventis, Hebei Huarong Pharmaceutical Co., Ltd., Ningxia Kingvit Pharmaceutical Co., Ltd, NCPC Victor Co., Ltd, Pfizer, Charkit Chemical Company LLC, Koninklijke DSM N.V, and Johnlee Pharmaceuticals Pvt. Ltd.

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