In 2020, the Niacin (Vitamin B3) for Nutrition Grade Market had a significantly strong global size, and it is predicted to maintain a steady revenue compound annual growth rate during the forecast period. The market's growth is driven by several factors, including an increase in demand for processed food products that are both functional and nutritionally enriched, a rise in the number of available product options, technological advancements, and greater awareness of the benefits of consuming healthy food products.
Vitamin B3 is a fundamental micronutrient that can be found in both natural and synthetic forms. It is widely utilized in various applications, including consumer goods, nourishment, pharmaceuticals, agrochemicals, and others, to enhance or fortify the final product's nutrient value. Nicotinic acid, or Vitamin B3, is a natural substance that is considered a vital human nutrient.
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Top Companies Operating in the Global Niacin (Vitamin B3) for Nutrition Grade Market Report:
- Lonza
- Jubilant Life Sciences
- Vertellus
- Brother Enterprises
- Zhejiang Lanbo Biotechnology
- Lasons India
- Vanetta
- DSM
- Tianjin Zhongrui Pharmaceutical
- Resonance Specialties
Market Overview:
Food and beverage enterprises are all involved in the processing, packaging, and distribution of raw food materials. Besides drugs, this industry touches every product designed for human consumption, including fresh and packaged meals, alcohol and nonalcoholic beverages, and food and beverages.
Due to the current economic depression caused by the outbreak of Covid-19, consumers are looking for ways to save money. By purchasing generic items and cooking their own meals instead of going out, consumers are doing so in a number of ways. Consequently, food processing companies are becoming more creative in order to lower the cost of goods sold, attract more customers, and increase their profit margins.
Global food and beverage industries have been adversely affected by obesity. As consumers' desires for healthier foods have increased, so has the demand for nutrition information. Both of these changes have led companies to launch lower-calorie foods and tighten control over how their brands are perceived.
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The global Niacin (Vitamin B3) for Nutrition Grade Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Feed grade
- Nutrition grade
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Nutrition
- Consumer
- Agrochemical
- Pharmaceutical
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