Thiamine Mononitrate (Vitamin B1) Market : A Strong Growth Outlook from 2023 to 2035
Research Nester published a report titled “Thiamine Mononitrate (Vitamin B1) Market: Global Demand Analysis & Opportunity Outlook 2035” which delivers detailed overview of the global thiamine mononitrate (vitamin B1) market in terms of market segmentation by type, application, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global thiamine mononitrate (vitamin B1) market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035. The market is segmented on the basis of application into supplements, feed additives, cosmetics, and others, out of which, the cosmetics segment is anticipated to hold a substantial share in terms of revenue over the forecast period on account of increasing demand for cosmetic products with vitamin B1 across the world, as vitamin B1 is an antioxidant.
The global thiamine mononitrate (vitamin B1) market is anticipated to witness growth on the back of increasing application of vitamin B1 in the cosmetic products, additive in food items, and in the healthcare industry. It is used as a supplement to promote blood circulation, healthy hair and skin, and improve reproductive health. Moreover, the growing demand for vitamin B1 as feed additive, is also anticipated to boost the market growth.
Regionally, the global thiamine mononitrate (vitamin B1) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period, owing to the increasing demand for supplements and vitamins in the region. For instance, in the Asia Pacific region, vitamins, herbals, minerals and supplements (VHMS) generated a revenue of about USD 40 billion in 2017.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand for Vitamin B1 in Cosmetic Industry to Propel the Market Growth
Vitamin B1 is used for reduce premature aging signs, such as, wrinkle, grey hair, and dark spots. Moreover, it is an antioxidant, which fights the degradation of cells and promote healthy looking skin and hair. Such factors contribute to the high demand for vitamin B1 in the cosmetic industry, which is estimated to encourage the market growth.
However, high investment cost, and easy availability of alternatives are expected to operate as key restraint to the growth of global thiamine mononitrate (vitamin B1) market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global thiamine mononitrate (vitamin B1) market which includes company profiling of Huazhong Pharmaceutical Co., Ltd., Koninklijke DSM N.V., Jiangxi Tianxin Pharmaceutical Co., Ltd., Saltvae Pharmaceuticals Private Limited, BASF SE, Xinfa Pharmaceutical Co. Ltd., Supreem Pharmaceuticals Mysore Pvt. Ltd., CMG Biotech Private Limited, EUROAPI (Sanofi-aventis Groupe), and Brother Enterprises Holding Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global thiamine mononitrate (vitamin B1) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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