Vitamin B3 Market to Reach USD 373 million by 2026

The increase in the production of compound feed is one of the major driving factors for the Vitamin B3 market.”

The global Vitamin B3 size is estimated to be valued USD 330 million in 2020 and is expected to reach a value of USD 373 million by 2025, growing at a CAGR of 2.5% during the forecast period.

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Vitamin B3 is an essential micronutrient commercially available in natural and synthetic forms; it is used in pharmaceutical, nutrition, consumer, agrochemicals, and other applications for enrichment or fortification purposes, to enhance the nutrient value of the end products. . The growth of this market is attributed to the rise in demand for functional and nutritionally enriched processed food products and the prevalence of vitamin deficiencies. The constrained supply of raw materials for natural vitamins and high costs are restraining market growth.

“The market for dry segment projected to grow at the highest CAGR between 2020 and 2025.”

The dry segment is the most dominant as well as fastest growing type of mineral in the Vitamin B3 market.

Owing to its easy availability and ease of handling. With the growing awareness associated with the health and nutritional benefits of vitamin B3, which addresses micronutrient deficiencies, and a growing consumer focus on preventive healthcare, the demand for vitamin B3 is projected to grow significantly.

The dry form of vitamin B3 accounted for the major market share in the vitamin B3 market. The increased demand for the fortification of food and feed products with B3 vitamin has encouraged major vitamin B3 manufacturers such as Lonza Group and DSM to expand their production capacities through the establishment of manufacturing plants in key demand markets such as China. These factors, along with the easy availability of vitamin B3 for use in various applications, have accelerated the growth of this segment.

“The feed grade segment is projected to grow at the highest CAGR between 2020 and 2025.”

For feed grade application in broilers, vitamin B3 is used to partly correct leg problems while still maintaining rapid weight gains. Whereas in swine, niacin supplementation before slaughter appears to improve pork quality. Vitamin B3 in dairy cattle has several beneficial effects. It improves digestive health, which can lead to better body condition and may prevent metabolic disorders. Vitamin B3 appears to increase the fertility of dairy cows and may increase milk yield in the early stages of lactation. Vitamin B3 feed grade in dogs is often prescribed to treat discoid lupus erythematosus, an autoimmune disease in which the body becomes allergic to the skin, resulting in crusting, sores, and pigment loss around the nose, eyes, ears, and paws.

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This release was published on openPR.