Industry Outlook and Trend Analysis
The Niacin and Niacinamide Market has encountered significant development in the recent years and is anticipated to grow tremendously over the forecast period. Niacin is a natural compound, and thought to be a standout amongst the most fundamental nutrients for humans, as niacin insufficiency causes pellagra. Niacinamide, an amide of niacin, is likewise alluded to as nicotinic acid amide or nicotinamide. Niacin and niacinamide are indispensable segments of Vitamin B3, and are frequently used as supplements reciprocally. These are generally found in many food products, for example, fish, eggs, meat, beans, green vegetables, and yeast. Niacin and niacinamide are additionally looked for in different vitamin supplements, especially in vitamin B-complex supplements.
Drivers and Restraints
Niacin and Niacinamide have been affirmed by the U.S. Food and Drug Administration for curing patients with pellagra which is one the major drivers of the market. Throughout the years, niacin has stayed well-recognized for treating people with high cholesterols; nonetheless ongoing investigations have exhibited niacin to have unfriendly symptoms when used to treat cholesterol levels. In nations with malnutrition being one of the real concerns, administrative bodies are setting up rules for food fortification including edible milk, oil, wheat flour, salt, and rice. Consideration of niacin and niacinamide in major parts of these food products is one of the parts of nourishment fortress in these nations, keeping in mind the end goal to avert vitamin B3 lack.
The Niacin and Niacinamide Market is segmented on the basis of form and end user. Based on form the market is segmented into Granular, Powder and Liquid. Based on end user the market is segmented into Pharmaceuticals, Cosmeceuticals, Human Nutrition, Animal Nutrition and Others. The human nutrition is the leading segment trailed by animal nutrition owing to health benefits offered by the product.
Regional Outlook and Trend Analysis
Europe will keep on leading the worldwide niacin and niacinamide market, on the basis of revenue. Rising frequencies of downer cow syndrome (DCS) in dairy cattle, and expanding number of cases identified with childhood obesity are prime elements anticipated that would impact interest for niacin and niacinamide in the area. Lack of physical activity and overeating patterns are principle purposes behind overweight and obesity in youthful and in addition senior populace crosswise over European nations, which is turning into a major issue for the area's healthcare division.
The lading players in the market are DSM, Evonik Industries, Zhejiang NHU Co Ltd, Vertellus Specialties UK, Jubilant Life Sciences, Lonza Group, Fagron, Merck Group, Brother Enterprises, Bactolac Pharmaceutical Inc, BASF and Foodchem International Corporation. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Niacin and Niacinamide Market is segmented as follows-
By End User:
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?