The Vitamin B12 Market report by MarkNtel Advisors – Market Research Company, offers a comprehensive analysis of the current state of the market, including an overview of key players, emerging trends, and future growth prospects. The report is segmented into various sections, each dedicated to different aspects of the market such as market size, geographical shares, competitive landscape, and market dynamics.
How Big is the Vitamin B12 Industry?
The Global Vitamin B12 Market size reached USD 288 Million in 2024. Looking forward, it is expected to rise at a CAGR of around 9.19% during the forecast period 2024-2030.
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Vitamin B12 Market Trend:
Rise in Veganism & Vegetarianism Changing Market Dynamics – One developing trend that is having a big influence on the vitamin B12 market size is the rise in veganism and vegetarianism. For ethical, environmental, and health-related reasons, more people are switching to plant-based diets, which is driving rising demand for foods and supplements enriched with vitamin B12. Since vitamin B12 is naturally present in animal products, vegetarians and vegans are more likely to be deficient in it. To satisfy their nutritional demands, this has caused a spike in the consumption of B12 supplements and fortified plant-based foods, such as cereals, plant milk, and nutritional yeasts. Market growth is being driven by the increasing number of vegan and vegetarian consumers, especially in developed areas, to which leading companies are responding by offering a greater range of goods enhanced with B12.
This trend is further supported by growing awareness of the need to maintain enough B12 levels for general health, which makes the rise in veganism and vegetarianism a major factor augmenting vitamin B12 supplement market share.
Competitor Breakdown: Top Vitamin B12 Companies 2024-2030
- Hebei Yufeng Group
- Hebei Huarong Pharmaceutical
- BASF Nutrition
- Sanofi
- NCPC VICTOR
- Chempure
- Hebei Yuxing Bio-Engineering Co. Ltd
- Ningxia Kingvit Pharmaceutical
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Regional Analysis:
North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Share of each region segment in the Market
- Potential growth opportunities in the region
- The growth rate of the region in the Industry
Breaking Down the Vitamin B12 Market Segmentation:
By Cyanocobalamin Type
- Injection
- Oral
- Spray
By Type of Production
- Direct Fermentation
- Indirect Production
- Genetic Engineering
By Product
- 1% Vitamin B12
- 2% Vitamin B12
- 98% Vitamin B12
- Others (96% Vitamin B12, 99% Vitamin B12)
By Application
- Medical Treatment
- Food Additives
- Feed Supplement
- Others (Cosmetics, Pharmaceutical, etc.)
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