The thiamine global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Thiamine Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The thiamine market size has grown strongly in recent years. It will grow from $1.24 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increased fortification programs, expansion of functional foods, rise in demand for natural and organic sources, increased demand for functional foods, and increased fortification efforts.
The thiamine market size is expected to see rapid growth in the next few years. It will grow to $2.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increasing health awareness, aging population, rising incidence of chronic diseases, consumer preference for natural and organic products, and rising occurrence of lifestyle-related disorders. Major trends in the forecast period include technological advancements, research and development, integration into telemedicine and digital health platforms, research into therapeutic applications, and personalized nutrition approaches.
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Scope Of Thiamine Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Thiamine Market Overview
Market Drivers –
The increasing demand for dietary supplements is expected to boost the growth of the thiamine market going forward. A dietary supplement is a manufactured product intended to supplement a person’s diet by taking a pill, capsule, tablet, powder, or liquid. The rising demand for dietary supplements is due to heightened health awareness, a growing preference for preventive healthcare, and an increasing emphasis on immune system support. Thiamine is included in dietary supplements to guarantee sufficient intake of this essential vitamin, which is crucial for vital bodily functions such as energy production, nervous system health, heart function, digestion, stress management, and overall metabolic equilibrium. For instance, in 2021, according to the CRN Consumer Survey on Dietary Supplements conducted by the Council for Responsible Nutrition, a US-based trade association for dietary supplements, the number of Americans using dietary supplements increased from 73% in 2020 to 80% in 2021. Therefore, increasing demand for dietary supplements is driving the growth of the thiamine market.
Market Trends –
Major companies operating in the thiamine market are focused on developing innovative products, such as vitamin B1 deficiency infusions, to sustain their position in the market. Vitamin B1 deficiency infusion refers to the therapeutic administration of thiamine (Vitamin B1) directly into the bloodstream via intravenous (IV) delivery. For instance, in June 2023, Lupin Limited, an Indian-based pharmaceutical company, launched thiamine hydrochloride injection (USP) in multiple-dose vials containing 200 mg/2 mL (100 mg/mL). This injectable solution offers a direct and efficient alternative for patients with oral absorption challenges, such as gastrointestinal disorders or severe deficiencies needing urgent treatment. It provides healthcare providers with a reliable means to manage and restore vitamin B1 levels, potentially mitigating risks linked to prolonged deficiency.
The thiamine market covered in this report is segmented –
1) By Product Type: Thiamine Mononitrate, Thiamine Hydrochloride, Thiamine Pyrophosphate
2) By Form: Tablets And Capsules, Liquid, Powder
3) By Application: Food And Beverages, Pharmaceuticals, Animal Feed, Dietary Supplements, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the thiamine market in 2023. The regions covered in the thiamine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the thiamine market are <b>BASF SE, Koninklijke DSM N.V., The Nature’s Bounty Co. Ltd., Zhejiang Medicine Co. Ltd., Swanson Health Products Inc., Brother Enterprises Holding Co. Ltd., NOW Health Group Inc., Molekula Group, Nutricost LLC, Solgar Inc., Tokyo Chemical Industry Co. Ltd., HPC Standards GmbH, Puritan’s Pride Inc., Loba Chemie Pvt. Ltd., Aland Nutraceuticals Group, Anhui Tiger Biotech Co. Ltd., Caisson Laboratories Inc., Chemizo Enterprise, General Nutrition Centers Inc., Huazhong Pharmaceutical Co. Ltd.</b>
Table of Contents
1. Executive Summary
2. Thiamine Market characterstics
3. Thiamine Market Trends And Strategies
4. Thiamine Market – Macro Economic Scenario
5. Global Thiamine Market Size And Growth
…..
32. Global Thiamine Market Competitive Benchmarking
33. Global Thiamine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Thiamine Market
35. Thiamine Market Future Outlook and Potential Analysis
36. Appendix
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