Increasing use of niacinamide in treating skin disorders and high demand for feed grade niacinamide are expected to drive market revenue growth
global niacinamide market size is expected to reach USD 785.02 Million in 2028 at a CAGR of 2.6% during the forecast period, according to the latest report by Reports and Data. Increasing availability of cost-effective face serums and moisturizers containing niacinamide and rising demand for feed grade niacinamide to improve animal nutrition are driving market revenue growth. Increasing use of niacinamide in cosmeceuticals to improve skin and hair health, growing number of research studies to explore the potential of niacinamide in prevention and treatment of skin cancers, and high popularity of over-the-counter anti-aging and skin brightening treatment are some other key factors expected to propel market growth over the forecast period.
Niacinamide is an active form of vitamin B and is a crucial component of coenzymes such as Nictotinamide Adenine Dinucleotide (NAD), NADH, NADP, and NADPH. It offers multi-purpose benefits in skin care by acting as a potent conditioning agent in skin and hair care products. Niacinamide also enhances structural integrity of the skin barrier and plays a vital role in skin homeostasis by enhancing synthesis of lipid components. Niacinamide has a wrinkle-smoothing effect on ageing skin, inhibits photocarcinogenesis, and improves pigmentation disorders, which has boosted its use in personal care products and cosmeceuticals. Over recent years, extensive research development activities have been carried out to explore the potential of niacinamide in treatment and prevention of non-melanoma cancers and this is expected to further boost revenue growth of this market going ahead.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, and Lasons India.
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The Niacinamide market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018-2028)
- Pharmaceutical Grade
- Feed Grade
Form Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018-2028)
- Granular
- Powder
- Liquid
End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018-2028)
- Pharmaceutical
- Cosmeceutical
- Human Nutrition
- Animal Nutrition
Key Regions Analyzed in the Report include:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Niacinamide market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Some Key Highlights from the Report:
- Pharmaceutical grade niacinamide segment is expected to account for the largest revenue share over the forecast period, owing to growing demand for cosmeceuticals to treat skin disorders and conditions, development of robust anti-aging treatments, and prevention of vitamin B3 deficiency.
- Granular segment is expected to register a robust revenue CAGR over the forecast period, attributable to increasing use of granular niacinamide in the production of vitamin B3 dietary supplements such as tablets and hard shell capsules, animal feed fortification, and cosmetics.
- Pharmaceutical segment is expected to dominate in terms of revenue share over the forecast period, owing to increasing investment to accelerate research studies on potential therapeutic applications of niacinamide, higher use of niacinamide for treatment of atopic dermatitis, diabetes mellitus, acne and skin lesion, and cancer.
- Europe is expected to register a steady revenue share over the forecast period, attributable to increasing demand for pharmaceutical and cosmeceutical products containing niacinamide due to higher incidence of skin cancer and growing focus on protecting skin from UV rays. Increasing use of feed grade niacinamide to combat vitamin B3 deficiency in livestock is another factor expected to contribute to revenue growth of this market in the region.
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