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.
Niacin and Niacinamide Market Overview:
The report is based on extensive research, qualitative and quantitative evaluations by industry experts, and feedback from field personnel and supply chain stakeholders. The study delves deeply into parent market trends, macroeconomic statistics, and regulating variables, as well as market attractiveness by segment. The analysis also maps out the qualitative impact of major market factors on market segments and geographies.
Market Scope:
This Niacin and Niacinamide Market review looks at the most recent developments, regulatory frameworks, trade analysis, business models, supply chain utilization, market dominance, the impact of residential and localized market participants, assessments of possibilities in terms of evolving revenue spots, regulatory shifts, tactical industry growth analysis, sales volume, categorical market growth, implementation niches and dominance, product releases, global coverage, and product latitude. To understand more about the Niacin and Niacinamide market, contact Stellar Market Research and get an Analyst Brief. Our personnel will help you make an informed market decision to achieve market growth.
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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)
The market’s leading players are embracing various growth techniques such as partnerships and strategic alliances, as well as new product launches, to expand their presence in emerging nations and eventually widen their customer base. Some of the prominent players in the Niacin and Niacinamide market are as follows:
Niacin and Niacinamide Market Segmentation:
By Form, the powder segment is expected to have the largest market share during the forecast period. Furthermore, powdered Niacin and Niacinamide have a faster beginning of effect than other forms, which is fuelling the segment’s growth. However, due to higher absorption rates and easier dosing flexibility, the liquid segment accounted for the largest market share in 2020, and it is expected to grow at a considerable CAGR of 7.6% over the forecast period 2021-2027.
By Application, The Niacin and Niacinamide Market was dominated by the animal nutrition segment in 2020. The segment’s dominance can be due in great part to its ability to reduce ketosis in dairy cattle, resulting in improved milk output. Cows treated with niacin reliably give more milk with greater fat percentages, according to recent lactation studies. The cosmeceuticals application segment, on the other hand, accounted for the largest market share in 2020 and is expected to increase at a CAGR of 7.9% from 2021 to 2027. Because of its potential to protect skin cells from UV radiation, Niacinamide is increasingly being used in skincare products.
Niacin and Niacinamide Market Regional Analysis:
Individual market influencing aspects and changes in market regulations that affect existing and future marketing tactics are also explored in the Niacin and Niacinamide market study’s country-focused discussion. Consumer volumes, processing facilities, and inventories, shipping analysis, price prediction modeling, raw material prices, and upstream and downstream value chain analysis are some of the major factors used to forecast the market scenario for specific countries. While providing forecast analysis of national data, the availability and affordability of global brands, as well as the challenges they face due to large or limited competition from local and domestic producers, the effect of local tariffs, and shipping routes, are all considered.
COVID-19 Impact Analysis on Niacin and Niacinamide Market:
The COVID-19 outbreak resulted in a severe and prolonged decline in production efficiency, while travel bans and factory closures kept people away from their businesses, leading the Niacin and Niacinamide market to slow in 2020. The new research features pandemic’s impact on the Niacin and Niacinamide # market, as well as observations, research, estimations, and projections. The Stellar Niacin and Niacinamide Market Research study contains an in-depth examination of customer behavior in the aftermath of the virus, as well as its influence on the Niacin and Niacinamide market’s outlook, classification, trends, and economic constraints.
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Key Questions Answered in the Niacin and Niacinamide Market Report are:
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- What are the drivers motivating overall Niacin and Niacinamide market advancement in the upcoming period?
- What revenue potential is estimated from the Niacin and Niacinamide market’s transactions in the years ahead?
- What CAGR potential is forecasted for the Niacin and Niacinamide market in the approaching period?
- Who are the significant contenders functioning in the Niacin and Niacinamide market?
- Which region is leading the global Niacin and Niacinamide market share at the end of the forecast period?
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