Global Niacin Vitamin B3 Market By Regions, Type And Application, Forecast 2023
In this report, LP Information covers the present scenario with the base year being 2017 and the growth prospects of global Niacin Vitamin B3 market for 20182023.
Niacin, also known as nicotinic acid, is an organic compound and is, depending on the definition used, one of the 20 to 80 essential human nutrients. Together with nicotinamide it makes up the group known as vitamin B3 complex. It has the formula C6H5NO2 and belongs to the group of the pyridinecarboxylic acids.
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In global market, the production of vitamin B3 increases from 56520 MT in 2012 to 71192 MT in 2016. In 2016, the global Vitamin B3 market is led by China, capturing about 37.09% of global Vitamin B3 production. Europe is the secondlargest regionwise market with31.57% global production share.
At present, the major manufacturers of Vitamin B3 are concentrated in Lonza, Jubilant Life Sciences, Vertellus, Brother Enterprises, Zhejiang Lanbo Biotechnology, Lasons India,Vanetta,DSM,Tianjin Zhongrui Pharmaceutical and Resonance Specialties . Lonza is the world leader, holding 47.21% production market share in 2016. Lonzas main markets are China and Europe. Vertellus is the only producer in the United States. At present, Vertellus Europes production capacity has been transferred to China. In 2014, Lonza built a new 15,000 production line in China. At the same time, Lonza shut down the oldest production line 5000 ton production line in 1995 due to environmental stress. At present, Lonza has 25,000 ton production capacity in China 10000 ton production line in 2005 and 25,000 ton production line in 2014.
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Europe was the largest consumption market for Vitamin B3, with volume exceeding 23923 MT in 2016. In addition, Asia Pacific is also expected to witness fastest growth.
In application, Vitamin B3 downstream is wide and recently Vitamin B3 has acquired increasing significance in various fields of Feed Additives? Pharmaceuticals and Cosmetics and Food and Beverage. Globally, the Vitamin B3 market is mainly driven by growing demand for Feed Additives which accounts for nearly 69.37% of total downstream consumption of Vitamin B3 in global. In type, Vitamin B3 can be divided into feed grade and Pharmaceutical Grade. Feed grade is the largest type, holding about 92.5% share.
In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, Vitamin B3 production will show a trend of steady growth. In 2023 the production of Vitamin B3 is estimated to be 93952 MT. China is the worlds largest producer of vitamins. In 2017, the price of Chinese vitamin B3 rose by about 40% due to the rising price of raw materials and environmental policy. In the next few years, the price is expected to fall.
Over the next five years, LPILP Information projects that Niacin Vitamin B3 will register a 0.1% CAGR in terms of revenue, reach US$ 650 million by 2023, from US$ 640 million in 2017.
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This report presents a comprehensive overview, market shares, and growth opportunities of Niacin Vitamin B3 market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
Food and Drinks Industry
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