Niacin, often known as vitamin B3, is an essential nutrient in humans. Niacin helps to lower cholesterol levels in the human body, lowering the risk of cardiovascular disease. Niacin has been demonstrated in trials to improve good HDL cholesterol levels while decreasing triglyceride levels. Another type of vitamin B3 is niacinamide, which is used to treat diabetes, oral cancer, acne, osteoarthritis, and other conditions. Pellagra can be treated with a niacin and niacinamide combination. Stellar market research has published a study on the niacin and niacinamide market, providing thorough segment analysis, market size, and forecast estimates by form, application, and region.
Niacin and Niacinamide Market Report Scope:
The Niacin and Niacinamide market has been studied at the regional and national levels. The study includes a segment- and region-specific analysis of the Niacin and Niacinamide market dynamics, including drivers, restraints, challenges, and opportunities. Because of the detailed market analysis, the report serves as an investor's guide.
A bottom-up approach has been employed to estimate the Niacin and Niacinamide market size. Secondary research identifies key players in the Niacin and Niacinamide market, and primary and secondary research determines their market revenues. Primary research included interviews with key opinion leaders and Niacin and Niacinamide industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals, while secondary research included a review of annual and financial reports from leading manufacturers. SWOT analysis was used to provide strengths, weaknesses, opportunities and threats of the Niacin and Niacinamide key players in the industry.
Niacin and Niacinamide Market Report Overview:
Stellar Market Research's new market intelligence report indicates lucrative growth for Niacin and Niacinamide Market suppliers in the forecast period through 2029. The market report includes the market's growth drivers, major restraints, upcoming challenges, and current opportunities.
Niacin and Niacinamide Market size was valued at US$ 938.29 million in 2020 and the Niacin and Niacinamide revenue is expected to grow at 5.8% through 2021 to 2027, reaching nearly US$ 1,392.31 million.
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Niacin and Niacinamide Market Regional Analysis:
Government actions and regulations in the industry fuel Niacin and Niacinamide Market growth in the region.The Niacin and Niacinamide market report includes market geography, market size and share, as well as in-depth research into the business network structure, opportunities, and news updates. The report covers all regions, including North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Niacin and Niacinamide Market Segmentation:
The powder segment is predicted to hold the biggest market share over the forecast period. Furthermore, powdered Niacin and Niacinamide have a speedier onset of action than other forms, which is fueling the segment's expansion. However, because to faster absorption rates and greater dosage flexibility, the liquid segment accounted for the highest market share in 2020, and it is predicted to rise at a significant CAGR of 7.6% between 2021 and 2027.
By way of example, In 2020, the animal nutrition category led the Niacin and Niacinamide Market. The segment's supremacy could be attributed in large part to its capacity to alleviate ketosis in dairy cattle, resulting in increased milk supply. According to recent lactation research, cows given niacin consistently produce more milk with higher fat percentages. In contrast, the cosmeceuticals application sector held the biggest market share in 2020 and is predicted to grow at a 7.9% CAGR from 2021 to 2027. Niacinamide is increasingly being used in skincare products due to its ability to protect skin cells from UV exposure.
Niacin and Niacinamide Market Key Players:
Brother Enterprises Holding Co., Ltd. (China)
Zhejiang NHU Company Ltd. (China)
Fagron NV (Netherlands)
Vertellus Specialties Inc.( United States )
Jubilant Life Sciences Limited (Noida)
Evonik Industries AG (Germany)
Foodchem International Corporation (China)
BASF SE (Germany)
Merck KGaA (Germany)
Bactolac Pharmaceutical Inc. ( United States )
Koninklijke DSM N.V. (Netherlands)
Lonza Group AG (Switzerland)
Key Questions answered in the Niacin and Niacinamide Market Report are:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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