Vitamin PP (niacin and niacinamide) Market, also known as niacin or niacinamide, is a water-soluble B-complex vitamin that plays a crucial role in maintaining healthy skin, nervous system, and digestive system. The vitamin is also used in the treatment of a range of medical conditions, including pellagra, high cholesterol, and arthritis.
The global market for vitamin PP is expected to grow at a steady rate over the next few years, driven by increasing consumer awareness of the benefits of the vitamin and the growing prevalence of chronic diseases that require vitamin PP supplements. According to a report by Market Research Future, the global vitamin PP market is expected to reach USD 333.5 million by 2027, growing at a CAGR of 5.5% from 2020 to 2027.
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Niacin and niacinamide are the two primary forms of vitamin PP that are widely used in the market. Niacin is primarily used in the treatment of high cholesterol and cardiovascular diseases, while niacinamide is used in the treatment of skin conditions such as acne, rosacea, and hyperpigmentation. Both forms of the vitamin are available in a range of forms, including tablets, capsules, and liquid supplements.
The market for vitamin PP is highly fragmented, with several major players competing for market share. Some of the key players in the market include Lonza Group Ltd., Jubilant Life Sciences, BASF SE, DSM, Vertellus, Brother Enterprises Holding Co. Ltd., and Merck KGaA. These companies are investing heavily in research and development to develop new and innovative products to meet the growing demand for vitamin PP supplements.
One of the major trends in the vitamin PP market is the growing demand for natural and organic products. Consumers are increasingly looking for natural and organic products that are free from synthetic chemicals and additives. This has led to the development of new products that are derived from natural sources such as yeast, rice bran, and soybeans.
Another trend in the market is the growing popularity of fortified foods and beverages. Food and beverage manufacturers are increasingly adding vitamin PP to their products to improve their nutritional profile and appeal to health-conscious consumers. This trend is expected to drive the demand for vitamin PP supplements in the coming years.
In conclusion, the global market for vitamin PP is expected to grow at a steady rate over the next few years, driven by increasing consumer awareness of the benefits of the vitamin and the growing prevalence of chronic diseases that require vitamin PP supplements. Niacin and niacinamide are the two primary forms of vitamin PP that are widely used in the market, and the market is highly fragmented with several major players competing for market share. The growing demand for natural and organic products and fortified foods and beverages are two major trends in the market that are expected to drive the demand for vitamin PP supplements in the coming years.
Global Vitamin PP (Niacin and Niacinamide) Market: Segmentation
By Grade (Revenue, USD Billion; 2017-2027)By Grade (Revenue, USD Billion; 2017-2027)
- Feed Grade
- Food Grade
- Pharma Grade
By Application (Revenue, USD Billion; 2017-2027)
- Animal Feeding
- Food Additives
- Health Supplements
- Pharmaceuticals
- Others
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