Riboflavin Market to be at Forefront by 2024 - 2031 | BASF SE, Koninklijke DSM NV, Shanghai Acebright Pharmaceuticals Group Co. Ltd

Market Overview:

The global riboflavin market was valued at US$ 397 Mn in 2021 and is forecast to reach a value of US$ 670.23 Mn by 2030 at a CAGR of 6.65% between 2022 and 2030.

Market Dynamics:

The growth of the riboflavin market is attributed to rising demand from the food and beverage industry. Riboflavin is widely used as an additive in various processed food products as well as energy drinks for its nutritional and coloring properties. It imparts a yellow-green color and thus is used as a coloring agent in foods. Additionally, increasing health consciousness among consumers has raised the demand for dietary supplements, which in turn is supporting the growth of the riboflavin market. Changing consumer lifestyles and busier schedules have increased the consumption of convenience and packaged foods. This has augmented the application of riboflavin as a food additive. Growing vegan and vegetarian population also contributes to the market growth as plant-based food products use riboflavin as a substitute for animal-based nutrients.

💎 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/5140

Stringent Environment Regulations on Production

The production of riboflavin involves the use of hazardous chemicals and solvents. Stringent environmental regulations imposed by various government and environmental agencies have increased compliance costs for riboflavin manufacturers. Regulations such as REACH aim to restrict the use of toxic chemicals and enforce safe disposal of industrial waste. Complying with such regulations involve significant capital investments in upgrade technologies, efficient treatment systems and proper waste management. This additional financial burden acts as a key restraint for small and medium riboflavin producers. High compliance costs discourage investments and force market players to operate at a reduced capacity. This restrains the potential growth scope of the riboflavin market.

Opportunities in Developing Nations

Riboflavin deficiency continues to plague populations in developing Asian, African and Latin American nations. International health organizations are promoting riboflavin supplementation programs to curb malnutrition and reduce disease burden in underdeveloped regions. Rising healthcare spending along with improving living standards in emerging markets offers significant opportunities for players in the riboflavin industry. Increased government focus on public health and nutrition security programs could potentially drive volumes in developing countries. In addition, as diets shift towards animal-based proteins in developing nations, demand from the animal feed segment is poised for strong growth as well. Overall, opportunities exist for riboflavin companies to tap into new regional markets and expand their consumer base.

Increased Adoption of Natural Colors

A key trend gaining momentum in the global food and beverage industry is the rising preference for natural colors over synthetic artificial colors. With growing health concerns, consumers are demanding food products with clean label and all-natural ingredients. Riboflavin or vitamin B2 is categorized as a nature-identical color additive derived from microorganisms. It is approved by food regulatory bodies worldwide and widely accepted by health-conscious consumers. To attract such consumers, many brands are replacing synthetic colors with natural alternatives like riboflavin. This consumer behavior shift towards naturalness presents lucrative prospects over the long-term for players in the riboflavin market. Manufacturers are well-positioned to leverage this trend by developing new product lines using riboflavin as a natural food coloring agent.

💎 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/5140

Top Companies Featured in This Report:

★ BASF SE
★ Koninklijke DSM NV
★ Shanghai Acebright Pharmaceuticals Group Co. Ltd
★ Xinfa Pharmaceutical Co. Ltd
★ Hubei Guangji Pharmaceutical Co. Ltd
★ NB Group Co. Ltd
★ Hegno
★ Legend Industries
★ Hebei Shengxue dacheng Pharmaceutical Co. Ltd

Market Segmentation:

By Product Type:

★ By Source: Chemical Synthesis, Fermentation
★ By Form: Powder, Liquid

By Applications:

★ By Application: Food and Beverages, Dietary Supplements, Pharmaceutical, Animal Feed, Personal Care, Other Applications

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

The report offers insights on the following aspects:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Analysis of Riboflavin Market Competition Landscape by Players

Chapter 4: Assessment of Riboflavin Market Size by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, recent developments, and investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Riboflavin sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5140

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.