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Thiamine Market Size, Emerging Trends, Market Opportunities, Key Players And Forecast To 2033
Thiamine Market Size
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According to The Business Research Company's, The thiamine market size has grown strongly in recent years. It will grow from $1.24 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increased fortification programs, expansion of functional foods, rise in demand for natural and organic sources, increased demand for functional foods, and increased fortification efforts.
The thiamine market size is expected to see rapid growth in the next few years. It will grow to $2.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increasing health awareness, aging population, rising incidence of chronic diseases, consumer preference for natural and organic products, and rising occurrence of lifestyle-related disorders. Major trends in the forecast period include technological advancements, research and development, integration into telemedicine and digital health platforms, research into therapeutic applications, and personalized nutrition approaches.
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Market Drivers and Trends:
The increasing demand for is expected to boost the growth of the thiamine market going forward. A is a manufactured product intended to supplement a person's diet by taking a pill, capsule, tablet, powder, or liquid. The rising demand for is due to heightened health awareness, a growing preference for preventive healthcare, and an increasing emphasis on immune system support. Thiamine is included in to guarantee sufficient intake of this essential vitamin, which is crucial for vital bodily functions such as energy production, nervous system health, heart function, digestion, stress management, and overall metabolic equilibrium. For instance, in 2021, according to the CRN Consumer Survey on conducted by the Council for Responsible Nutrition, a US-based trade association for , the number of Americans using increased from 73% in 2020 to 80% in 2021. Therefore, increasing demand for is driving the growth of the thiamine market.
Major companies operating in the thiamine market are focused on developing innovative products, such as vitamin B1 deficiency infusions, to sustain their position in the market. Vitamin B1 deficiency infusion refers to the therapeutic administration of thiamine (Vitamin B1) directly into the bloodstream via intravenous (IV) delivery. For instance, in June 2023, Lupin Limited, an Indian-based pharmaceutical company, launched thiamine hydrochloride injection (USP) in multiple-dose vials containing 200 mg/2 mL (100 mg/mL). This injectable solution offers a direct and efficient alternative for patients with oral absorption challenges, such as gastrointestinal disorders or severe deficiencies needing urgent treatment. It provides healthcare providers with a reliable means to manage and restore vitamin B1 levels, potentially mitigating risks linked to prolonged deficiency.
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Major Key Players of the Market:
BASF SE, Koninklijke DSM N.V., The Nature's Bounty Co. Ltd., Zhejiang Medicine Co. Ltd., Swanson Health Products Inc., Brother Enterprises Holding Co. Ltd., NOW Health Group Inc., Molekula Group, Nutricost LLC, Solgar Inc., Tokyo Chemical Industry Co. Ltd., HPC Standards GmbH, Puritan's Pride Inc., Loba Chemie Pvt. Ltd., Aland Nutraceuticals Group, Anhui Tiger Biotech Co. Ltd., Caisson Laboratories Inc., Chemizo Enterprise, General Nutrition Centers Inc., Huazhong Pharmaceutical Co. Ltd.
Thiamine Market 2024 Key Insights:
• The thiamine market size is expected to see rapid growth in the next few years. It will grow to $2.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• Impact Of Increasing Demand For On The Thiamine Market
• Innovative Thiamine Infusion Products For Vitamin B1 Deficiency Management
• Asia-Pacific was the largest region in the thiamine market in 2023
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