WASHINGTON, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's findings of the Niacinamide market are that there is a great opportunity for growth in this market. The Niacinamide market is expected to expand to excess $665.7 Million by 2028, at a CAGR 4.1%.
Vantage Market Research has recently published a Report titled, Niacinamide Market The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The Niacinamide report also displays important product developments and tracks recent acquisitions, mergers and research in the Niacinamide industry by the major players. Niacinamide report helps make known uncertainties that may come up due to changes in business activities or introduction of a new product in the market. Moreover, all the stats, data, facts and figures collected to prepare this market report are obtained from the trustworthy sources such as websites, journals, merges, newspapers and other authentic sources. Few of these major factors are market definition, market segmentation, competitive analysis and research methodology.
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Market Overview:
There is a growing demand for niacinamide market, which is a form of vitamin B3. This nutrient has a wide range of benefits, including improving skin health, reducing inflammation, and boosting brain function. Niacinamide is found in many foods, including meat, fish, nuts, and seeds. However, it is often taken as supplement.
In the last few years, the niacinamide market has become a popular in skincare products because it can improve the appearance of acne, wrinkles, and other skin concerns. Most of the cosmetic manufacturers are making of the product since it is known to reduce inflammation and boosting collagen production. Niacinamide is also an antioxidant that helps protect the skin from damage caused by pollution and sunlight.
What Drives Demand for Niacinamide Market?
Naturally, human body only absorbs a small amount of niacinamide from food sources. Therefore, taking supplements is often required to get enough of this important nutrient. As per our study on global niacinamide market, the niacinamide is also used to improve cholesterol levels, lower blood pressure, and help prevent cardiovascular disease. Niacinamide may also help treat type 2 diabetes and Alzheimer's disease.
Vantage Market Research published a detailed report on niacinamide market that covers the market trends, production capacity, consumption, and trade of this ingredient across the globe.
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Top Players in Global Niacinamide Market
- Lonza Group
- Vertellus
- Vanetta
- Zhejiang Lanbo Biotechnology
- Foodchem International Corporation
- Merck KGaA
- Koninklijke DSM N.V.
- Bactolac Pharmaceutical Inc.
- BASF SE
- Lasons India
Niacinamide Market is Highly Competitive
The niacinamide industry is highly competitive. There are many manufacturers that produce this ingredient for use in supplements and skincare products. In order to survive in this industry, companies must offer a high-quality product at a competitive price. Many niacinamide products are available on the market today. Some are more expensive than others, but all of them offer similar benefits.
Companies in the niacinamide market also differentiate their products from those of their competitors. Many companies offer unique formulations or delivery methods that give them an edge in the marketplace. It is important for companies in the market to keep up with the latest trends and developments. New ingredients and technologies are constantly being introduced, and companies must be able to adapt their products accordingly.
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Segments Covered:
By Grade:
- Pharmaceutical Grade, Feed Grade
By Form:
- Granular, Powder, Liquid
By End Uses:
- Pharmaceutical, Cosmeceutical, Human Nutrition, Animal Nutrition
By Region:
- North America, Europe, Asia Pacific, Latin America, Middle East & Africa
North America is the largest Niacinamide Market, but Strict Regulatory Policies are Holding Back True Potential
The niacinamide market is also subject to intense regulatory scrutiny. Companies must ensure that their products comply with all applicable regulations, or they could face significant penalties.
In terms of geographical analysis, North America holds the largest share in the global niacinamide market due to the high demand for dietary supplements and cosmetic products containing niacinamide in this region. Europe is another major market for niacinamide due to the growing popularity of natural ingredients in cosmetics. Asia Pacific is expected to witness the highest growth rate during the forecast period due to the rapidly expanding cosmetic industry in countries such as China and India.
High Demand for Niacinamide in Skincare Products
Sales of skincare products containing niacinamide have soared in recent years, as more and more people discover the many benefits of this versatile ingredient. It is an antioxidant that helps to protect the skin from environmental damage, and also has anti-inflammatory properties that can help to soothe redness and irritation.
With the rise in demand for niacinamide-containing skincare products, more companies in the global niacinamide market are releasing products that contain this ingredient. Niacinamide is now being included in a wide range of formulas, from budget-friendly drugstore products to high-end luxury items.
Niacinamide is also known to boost collagen production, making it an effective anti-aging ingredient. It can help to diminish the appearance of fine lines and wrinkles, and improve skin elasticity. Due to its many beneficial properties, niacinamide has become one of the most popular skincare ingredients on the market today. With its popularity on the rise, niacinamide is now commonly found in serums, creams, and moisturizers. Many manufacturers in the global niacinamide market are also incorporating niacinamide into their sunscreen formulas, as it can help to reduce inflammation and redness caused by sun exposure.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Niacinamide market Forecast Report (2022-2028).
40% of the Demand for Niacinamide Comes from Supplement
A recent study found that niacinamide is the second most popular supplement ingredient, with 22% of supplement users taking it. This is not surprising, given that niacinamide has a wide range of potential health benefits. In the global niacinamide market, the majority of niacinamide supplements are sold as over-the-counter (OTC) products. However, some products are available only with a prescription from a healthcare provider.
As per Vantage Market Research study, niacinamide is majorly used across various supplements. In fact, 40% of global production is consumed through supplements. This is not surprising given that niacinamide is a popular ingredient in many supplements. It is often used in energy drinks and sports supplements due to its ability to improve athletic performance. Additionally, niacinamide is also used in many cognitive enhancement supplements as it has been shown to improve memory and cognitive function.
In order to better understand consumers intention and various other factors behind the buying of niacinamide supplement, Vantage Market Research conducted survey on over 9,200 consumers across the global niacinamide market.
Vantage Market Research Study Says Majority of Consumers are Taking Niacinamide as Energy Booster
Our survey of niacinamide supplement found that nearly two-thirds of respondents said they would recommend the supplement to a friend or family member. Overall, satisfaction with niacinamide was high, with 82% of respondents saying they were either satisfied or very satisfied with the supplement.
The majority of respondents in the global niacinamide market reported taking niacinamide for its energy-boosting effects, with 62% saying it helped them feel more energetic and 59% reporting that it improved their stamina. Other benefits reported included better sleep (51%), improved mental clarity (50%), and reduced stress levels (49%). Side effects from niacinamide were relatively rare, with only 8% of respondents reporting any type of issue. The most common side effect was mild gastrointestinal upset, which was reported by 5% of respondents.
Why Buy this Niacinamide Market Report?
- The report offers a comprehensive evaluation of the Global Niacinamide Market. The report includes verifiable data from authentic sources, in-depth qualitative analysis, and estimates about size of market. Estimates are calculated using proven research methods.
- The report includes in-depth market analysis using Ansoff Matrix and Porter's 5 Forces Model. Apart from this, the pre-post impact of Covid-19 on the Niacinamide market is also featured in the report.
- This Niacinamide report has been organize through extensive primary and secondary research. Primary research is done through interviews, surveys and observation of eminent persons in the industry.
- The Niacinamide industry report also includes a competitive analysis using the analyst's proprietary competitive positioning tool.
- The report also covers the regulatory landscape in the Niacinamide industry, which will help you make an informed decision. The report discusses key regulations and rules imposed on the sector by major regulatory bodies and various geographies.
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 523.1 Million |
| Revenue Forecast by 2028 | USD 665.7 Million |
| CAGR | 4.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, Lasons India |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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