Niacin And Niacinamide Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: HCR 10406 Report Format: PDF + Excel (Delivery in 48 Hrs)

Niacin and Niacinamide Market Overview

The Niacin and Niacinamide Market size was estimated at $923.8 million in 2020, projected to grow at a CAGR of 5.8% during the forecast period 2021-2026. Niacin is a type of Vitamin B3 belonging to the family of the pyridinecarboxylic acids which can be consumed independently or in form of multivitamins. Niacin deficiency in humans may result in pellagra. As a result, it is an important food for humans. In the world of essential supplements, niacinamide, also known as Nicotinamide or Nicotinic Acid Amide, is interchangeably used with niacin.

The rising healthcare spending, customer preference for healthier eating habits, rising demand from cosmeceutical and pharmaceutical industry owing to its ability to protect skin cells from UV rays and benefiting against a variety of diseases are all driving the global Niacin and niacinamide market. Additionally, increasing prevalence of chronic diseases and rising government initiatives to raise awareness about the benefits of niacin and niacinamide are also likely to provide growth opportunities for the niacin and niacinamide industry. However, the stringent regulations along with, prominent side effects associated with niacin and niacinamide is predicted to pose a major threat to the market's growth during the forecast period 2021-2026.

Report Coverage

The report: “Niacin and Niacinamide Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Niacin and Niacinamide Market.
By Form: Powder, Granular and Liquid.
By Application: Pharmaceutics, Cosmeceutics, Human Nutrition, Animal Nutrition and others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), Asia-Pacific (China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others) and Rest of the World (Middle East and Africa).

Key Takeaways

  • Geographically, The Europe region held 39.6% of the total market share in 2020 owing to the rising cases of downer cow syndrome (DCS) in dairy cattle, as well as an increase in cases of childhood obesity.
  • Rising demand from cosmeceutical and pharmaceutical industry owing to its ability of protecting skin cells from UV rays and benefiting against a variety of diseases are the major driving force for Niacin and Niacinamide Market during the forecast period 2021-2026.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Niacin and Niacinamide Market.


Niacin and Niacinamide Market - By Geography, 2020.

Niacin and Niacinamide Market
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Niacin and Niacinamide Market Segment Analysis - By Form

On the basis of form, the market is divided into Powder, Granular and Liquid form. Powder segment account for the highest market share in 2020 owing to its higher shelf life and low cost when compared with liquid form. Additionally the onset of action of powdered Niacin and Niacinamide is rapid as compared to other forms thereby driving the market growth of the segment.

However the liquid segment accounted for the fastest market share in 2020 and it is expected to expand rapidly at a significant CAGR of 7.6% during the forecast period 2021-2026 owing to faster absorption rates and easy flexibility with dosing.

Niacin and Niacinamide Market Segment Analysis - By Application

Based on End User, the global Niacin and Niacinamide Market is segmented into Pharmaceutics, Cosmeceutics, Human Nutrition, Animal Nutrition and others. In 2020, the animal nutrition segment dominated the Niacin and Niacinamide Market. The Dominance of the segment can largely be attributed to its property which aid in the reduction of Ketosis in dairy cattle, resulting in increased milk production. According to recent lactation studies Cows supplemented with niacin reliably produce more milk with higher fat percentages.

However cosmeceuticals application segment accounted for the fastest market share in 2020 and is projected to grow at a CAGR of 7.9% during the forecast period 2021-2026. The dominance is due to increasingly usage of Niacinamide in the skin care product owing to its ability to protect skin cells from UV rays.

Niacin and Niacinamide Market Segment Analysis - By Geography

Based on geography, Europe dominated the Niacin and Niacinamide Market with a region share of 39.6% in 2020 followed by North America and APAC. Rising cases of downer cow syndrome (DCS) in dairy cattle, as well as increasing cases of childhood obesity, are the major factors propelling the growth of Niacin and Niacinamide Market in this region. Moreover, the presence of large number of pharmaceutical and cosmeceutical companies that invest heavily on the research along is predicted to drive the market growth in this region.

Asia Pacific region is predicted to see the demand maturing in Niacin and Niacinamide Market owing to the rapid advancement in chemical studies, as well as the increasing healthcare expenditure in emerging economies such as China and India, which is predicted to create new opportunities for the regional Niacin and Niacinamide industry. 

Niacin and Niacinamide Market Drivers

Application in Disease Prevention

Niacin and niacinamide have been shown to be beneficial in the treatment of a variety of diseases, including Pellagra and Melanoma. Taking extreme disorders like Schizophrenia into account, these chemicals have shown to be effective, and researchers are emphasizing the intake of niacin and niacinamide to combat Schizophrenia. Additionally, in vitro studies have shown that niacinamide has the ability to suppress melanoma cell proliferation and speed up apoptosis which is further set to propel the market forward during the forecast period 2021-2026.

Niacin and Niacinamide Market Challenge

Adverse Side Effects Associated with Consumption of Niacin

After years of being the go-to prescription for cholesterol treatment, niacin is no longer being recommended to patients because it has been linked to an increased risk of mortality and negative side effects. Niacin is losing its reputation for lowering the risk of strokes and heart attacks. There was no improvement in the risk of stroke and heart attacks in elderly people with cardiovascular disorders in the age group 50-80 who took extended release niacin and laropiprant. Concerns about niacin supplementation's dangerous side effects, such as liver complications, excessive bleeding, infections, and gout, are also being investigated all these factor are predicted to act as a major impediment to the Niacin and Niacinamide Market's growth during the forecast period 2021-2026.

Niacin and Niacinamide Market Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Niacin and Niacinamide Market. Key companies of this market are Brother Enterprises Holding Co., Ltd., Zhejiang NHU Company Ltd., Fagron NV, Vertellus Specialties Inc., Jubilant Life Sciences Limited, Evonik Industries AG, Foodchem International Corporation, BASF SE, Merck KGaA, Bactolac Pharmaceutical Inc., Koninklijke DSM N.V., and Lonza Group AG.

Developments:

  • In April 2020, ScieGen, a subsidiary of Bactolac Pharmaceutical, bolster its production to meet growing demandsof nutraceutical industry.
  • In July 2019, Jubilant Life Sciences announces price increase of 10% for Vitamin B3 (Niacin and Niacinamide).

Relevant reports

Report Code: FBR 0005

Report Code: FBR 0523

For more Lifesciences and Healthcare Market related reports, please click here

1. Niacin And Niacinamide Market Overview
    1.1 Definitions and Scope
2. Niacin And Niacinamide Market Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends By Form
    2.3 Key trends By Application
    2.4 Key trends By Geography
3. Niacin And Niacinamide Market Landscape
    3.1 Product Benchmarking- Key Companies
    3.2 Financial Analysis- Key Companies
    3.3 Patent Analysis
    3.4 Pricing Analysis–Average Pricing
4. Niacin And Niacinamide Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Niacin And Niacinamide Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Niacin And Niacinamide Market Forces
    6.1 Market Drivers
    6.2 Market Constraints and Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Niacin And Niacinamide Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Niacin And Niacinamide Market– By Form
    8.1 Granular
    8.2 Powder
    8.3 Liquid
9. Niacin And Niacinamide Market– By Application
    9.1 Pharmaceutics
    9.2 Cosmeceutics
    9.3 Human Nutrition
    9.4 Animal Nutrition
    9.5 Others
10. Niacin And Niacinamide Market- By Geography
    10.1 North America
        10.1.1 U.S
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K
        10.2.2 Germany
        10.2.3 France
        10.2.4 Spain
        10.2.5 Italy
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia Pacific
        10.3.1 India
        10.3.2 China
        10.3.3 Japan
        10.3.4 Australia
        10.3.5 South Korea
        10.3.6 Rest of Asia pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Niacin And Niacinamide Market Entropy
12. Niacin And Niacinamide Market- Industry / Segment Competition landscape Premium Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
        12.1.4 Best Practices for Companies
13. Niacin And Niacinamide Market- Key Company List by Country Premium Premium
14. Niacin And Niacinamide Market Company Analysis (Company Revenue, Products, M&A, Developments)
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 
"*Financials for private companies would be provided on a best efforts basis”

LIST OF TABLES

LIST OF FIGURES

1.US Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
2.Canada Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
3.Mexico Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
4.Brazil Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
5.Argentina Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
6.Peru Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
7.Colombia Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
8.Chile Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
9.Rest of South America Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
10.UK Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
11.Germany Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
12.France Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
13.Italy Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
14.Spain Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
15.Rest of Europe Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
16.China Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
17.India Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
18.Japan Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
19.South Korea Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
20.South Africa Niacin And Niacinamide Market Revenue, 2019-2024 ($M)
21.North America Niacin And Niacinamide By Application
22.South America Niacin And Niacinamide By Application
23.Europe Niacin And Niacinamide By Application
24.APAC Niacin And Niacinamide By Application
25.MENA Niacin And Niacinamide By Application
26.Niacin and Niacinamide Market Competitive Landscape, Sales /Revenue, 2015-2018 ($Mn/$Bn)