Global Niacin Market Overview
Rapidly growing interest in health and wellness among consumers increase the demand for vitamins and supplements. Globally, people have incorporated vitamins and supplements as part of their regular diet. Vitamins play an important role to prevent different kind of health issues like skin disease, fatigue, diabetes, digestion and nervous system issue. Majorly, Niacin a Vitamin B3 has been preferred to manage digestive system, skin and nervous system. Niacin is a one of the water-soluble B vitamins. Niacin is referred as a nicotinic acid and nicotinamide. These two nutrients help to body to convert food into glucose and also help to produce energy. Most of physicians prefer Niacin to treat nervous system and to normalize the psychological function. In addition to this Niacin has been used to fortify grains such as corn and bran breakfast cereals and wheat flour.
Global Niacin Market Scenario
The Niacin market has been growing rapidly due increasing number of health conscious people, their disposable income growth and stringent government rules and regulation for safety security of the citizens. Therefore, pharmaceutical companies are preferring to buy pharmaceutical additives like Niacin to produce vitamin B tablets and capsules. Globally, consumers preferred to have supplements to prevent critical health issues due to vitamin deficiency. In addition to this Niacin is also preferred as animal nutrition to resolve vitamin deficiency issues among animals and to keep their health strong for good quality meat, and milk. Globally, North America is one of the dominant markets in Niacin market due increasing obesity and critical health issues among North American people. Asia Pacific and Middle East and Africa markets are growing rapidly due to increasing population and changing lifestyle.
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Global Niacin Market Dynamics
Increasing heath issues like skin disease, diabetes, heart disease, fatigue, and tiredness are major driver for Niacin market growth. Because Niacin is majorly used to prevent high blood cholesterol and pellagra (niacin deficiency). In addition to this Niacin is also one of the high nutrition ingredient for animal therefore increasing livestock business drives demand for Niacin in the market. The increasing utilization of niacin in the cosmetics for skin care products drive the demand for niacin across the globe. However, in some research studies, it has been observed that high intake of niacin causes some side effects such as nausea or vomiting, rashes, headache, dizziness, irregular heartbeats increase in blood sugar. People hesitate to take niacin without any appropriate medical prescription.
Global Niacin Market Segmentation
The niacin market can be segmented based on the basis of application, nutrition type and form. On the basis of application the niacin market can segmented into Pharmaceutical, Personal Care Products, Agricultural, and Live Stock. On the basis of nutrition type the niacin market can be categorized into human nutrition, and animal nutrition. Moreover, the niacin mix market can be segmented on the basis form including liquid and solid form. Geographically, the global market for niacin market can be segmented into seven regions, namely North America, Latin America, Europe, CIS & Russia, and Asia Pacific excluding Japan, Japan and Middle East & Africa.
Global Niacin Market Key Players
Niacin manufacturers are primarily converging on emerging economies to gain a huge profit margin. Key manufacturers in the global market are continuously introducing new niacin products. Some of the key market participants in the global niacin market are Aarti Drugs, Brother Enterprises Holding, DSM, Jubilant Life Science, Lanbo Biotechnology, Lasons, Lonza, Resonance Specialties Tianjin Zhongrui Pharmaceutical, Vanetta, and Vertellus
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The research report presents a comprehensive assessment of the niacin market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to niacin market segments such as geographies, application, nutrition, and form.