Global Vitamin B12 Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Vitamin B12 Market: By Dosage form (Powder, Injection, Tablets, Nasal sprays, and Syrups), By Route of Administration (Intravenous, Subcutaneous, Oral, and Nasal), By Distribution channel (Hospital Pharmacy, Online sales, and Retail Pharmacy) and Geography

 

 

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Report

Description

The vitamin B12 market is valued at approximately USD 347.9 million in 2021 and is predicted to exceed at a significant CAGR of 6.9 percent between 2022 and 2028. Vitamin B12 is the most extensive and structurally complicated vitamin. It occurs naturally in animal products like meat and eggs, and manufacturers can produce it through bacterial fermentation synthesis. Continuous demand for vitamin B12 ingredients because of increased vitamin B12 deficiency boosts the global vitamin B12 market. The market is fueled by rising consumer health consciousness, and a significant increase in the vegan population has resulted in vitamin deficiencies, such as Vitamin B12. Leading and developing market companies who have invested much in research and development in such corresponding elements have seen tremendous success in their businesses. The rising prevalence of depression and memory loss also drives the vitamin B12 market. In the global vitamin B12 market, the demand is increasing among the vegan population and the patients suffering from anaemic diseases. The trend of veganism is booming among the population, and many manufacturers are providing certified vegan food products in their product portfolio. Based on dosage form, the tablet segment is expected to be the most popular in the vitamin B12 market. Tablets are easy to use and deliver a correct dose of the active ingredient in a convenient portable form. They can also be engineered to safeguard unstable drugs or hide undesirable chemicals.

Recent Market Developments:

In, March 2022, LBB Specialties LLC announced that it has acquired Debro Inc., a Canadian specialty chemicals distributor based in Brampton, ON. The terms of the transaction were not disclosed.

In Oct 2021, Royal DSM, a global purpose-led science-based company, announces the completion of its acquisition of First Choice Ingredients for an enterprise value of US$453 million.

Vitamin B12 Market

MARKET SUMMARY
-
6.9% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 6.9%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Vitamin B12 Market

  • Global Vitamin B12 Market report gives comprehensive outlook on Vitamin B12 across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of product types and application/end user, and region.
  • Key stakeholders of the global market report include suppliers, manufacturers, marketers, and policy makers engaged in global Vitamin B12 Market.
Key Players
  • Sanofi-Aventis
  • NCPC Victor Co., Ltd.
  • Yufeng Industry Group
  • Hebei Huarong Pharmaceutical.
  • Ningxia Kingvit Pharmaceutical.
Vitamin B12 Market

Dynamics

The increased prevalence of malnutrition and vitamin deficiency among young people drives the demand for vitamin B12. Demand for vitamin B12 is also driven by rapid urbanization and rising disposable income. The global population’s vitamin B deficiency has also created a vast market for vitamin B12. The lack of public knowledge of vitamin insufficiency impedes industry expansion.


North-America Got Significant Share

Vitamin B12 Market

North America owns a significant share in the global vitamin B12 market. Growing awareness about the significance of healthy among the people in this region is expected to drive market growth in North America. Increased demand for vitamin B12 also boosts the global vitamin B12 market in North America. Furthermore, Europe accounts for the second larger share in the global vitamin B12 market owing to attractive marketing strategies and unique promotional activities.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The vitamin B12 market report provides granular level information about the market size, regional market share, historic market (2015-2020) and forecast (2021-2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Vitamin B12 Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The CAGR of the vitamin B12 market is 6.9% over the forecast period (2022 – 2028)

Sanofi-Aventis, Yufeng Industry Group, NCPC Victor Co., Ltd., Hebei Huarong Pharmaceutical Co., Ltd.

The Europe is the fastest-growing region in the vitamin B12 market


Report

Table Of Content

  1. Executive Summary
  2. Global Vitamin B12 Market Introduction
    • Global Vitamin B12 Market – Taxonomy
    • Global Vitamin B12 Market –Definitions
      • By Product Type
      • Application/ End Users
  3. Global Vitamin B12 Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Vitamin B12 Market Dynamic Factors – Impact Analysis
    • Global Vitamin B12 Market – Competition Landscape
  4. Global Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025
    • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  5. Global Vitamin B12 Market, By Product Type, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • 98% Vit B12
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • 2% Vit B12
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • 1% Vit B12
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vitamin B12 Market Forecast, By Application/End User, 2013 – 2018 and Forecast, 2019 – 2025
    • Pharma Industry
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Food
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Feed
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Vitamin B12 Market Forecast, By Region, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • North America
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User, and Region, 2019 – 2025
  2. North America Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Product Type Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • 98% Vit B12
      • 2% Vit B12
      • 1% Vit B12
      • Others
    • Application/End User Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Pharma Industry
      • Food
      • Feed
      • Others
    • Country Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User, and Country, 2019 – 2025
    • North America Vitamin B12 Market Dynamics – Trends
  3. Europe Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Product Type Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • 98% Vit B12
      • 2% Vit B12
      • 1% Vit B12
      • Others
    • Application/End User Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Pharma Industry
      • Food
      • Feed
      • Others
    • Country Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Poland
      • Rest of Europe
    • Europe Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User and Country, 2019 – 2025
    • Europe Vitamin B12 Market Dynamics – Trends
  4. Asia-Pacific Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Product Type Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • 98% Vit B12
      • 2% Vit B12
      • 1% Vit B12
      • Others
    • Application/End User Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Pharma Industry
      • Food
      • Feed
      • Others
    • Country Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Australia & New Zealand
      • Rest of Asia-Pacific
    • Asia-Pacific Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User and Country, 2019 – 2025
    • Asia-Pacific Vitamin B12 Market Dynamics – Trends
  5. Latin America Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Product Type Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • 98% Vit B12
      • 2% Vit B12
      • 1% Vit B12
      • Others
    • Application/End User Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Pharma Industry
      • Food
      • Feed
      • Others
    • Country Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Latin America Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User and Country, 2019 – 2025
    • Latin America Vitamin B12 Market Dynamics – Trends
  6. Middle East and Africa Vitamin B12 Market Analysis, 2013 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn)
    • Product Type Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • 98% Vit B12
      • 2% Vit B12
      • 1% Vit B12
      • Others
    • Application/End User Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
      • Pharma Industry
      • Food
      • Feed
      • Others
    • Country Analysis 2013 – 2018 and Forecast 2019 – 2025 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Gulf Cooperation Council (GCC) Countries
      • Israel
      • South Africa
      • Rest of MEA
    • MEA Vitamin B12 Market – Opportunity Analysis Index, By Product Type, Application/End User and Country, 2019 – 2025
    • MEA Vitamin B12 Market Dynamics – Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Product Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Sanofi-Aventis
      • Yufeng Industry Group
      • Hebei Huarong Pharmaceutical Co., Ltd.
      • Ningxia Kingvit Pharmaceutical Co., Ltd.
      • NCPC Victor Co., Ltd.
  1. Research Methodology
  2. Key Assumptions and Acronyms

Report

Company Profile

  • Sanofi-Aventis
  • Yufeng Industry Group
  • Hebei Huarong Pharmaceutical Co., Ltd.
  • Ningxia Kingvit Pharmaceutical Co., Ltd.
  • NCPC Victor Co., Ltd.

Description

The vitamin B12 market is valued at approximately USD 347.9 million in 2021 and is predicted to exceed at a significant CAGR of 6.9 percent between 2022 and 2028. Vitamin B12 is the most extensive and structurally complicated vitamin. It occurs naturally in animal products like meat and eggs, and manufacturers can produce it through bacterial fermentation synthesis. Continuous demand for vitamin B12 ingredients because of increased vitamin B12 deficiency boosts the global vitamin B12 market. The market is fueled by rising consumer health consciousness, and a significant increase in the vegan population has resulted in vitamin deficiencies, such as Vitamin B12. Leading and developing market companies who have invested much in research and development in such corresponding elements have seen tremendous success in their businesses. The rising prevalence of depression and memory loss also drives the vitamin B12 market. In the global vitamin B12 market, the demand is increasing among the vegan population and the patients suffering from anaemic diseases. The trend of veganism is booming among the population, and many manufacturers are providing certified vegan food products in their product portfolio. Based on dosage form, the tablet segment is expected to be the most popular in the vitamin B12 market. Tablets are easy to use and deliver a correct dose of the active ingredient in a convenient portable form. They can also be engineered to safeguard unstable drugs or hide undesirable chemicals.

Recent Market Developments:

In, March 2022, LBB Specialties LLC announced that it has acquired Debro Inc., a Canadian specialty chemicals distributor based in Brampton, ON. The terms of the transaction were not disclosed.

In Oct 2021, Royal DSM, a global purpose-led science-based company, announces the completion of its acquisition of First Choice Ingredients for an enterprise value of US$453 million.

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