Vitamin B12 (Cobalamin) Market is estimated to be valued at USD 311.7 million in 2021 and is poised to grow at a significant CAGR of 8.2% over 2022–2028. Vitamin B12 supplement, B12 supplement for vegans, vitamin B12 naturally, vitamin B12 deficiency, vitamin B12 benefits, methylcobalamin B12, adenosylcobalamin, vitamin B12 foods, vitamin B12 overdose, methylcobalamin dosage for neuropathy, and hydroxocobalamin, to name a few, are highly demanded topics and factors that have influenced market growth in a variety of ways. Leading and emerging market companies investing heavily in research and development in such corresponding factors have seen tremendous business growth. The demand for cyanocobalamin is increasing in the global cyanocobalamin market, particularly among vegans and patients with anemia. In the food and beverage, nutraceutical, and dietary supplement industries, cyanocobalamin demand is expanding at a rapid rate. In addition, the pharmaceutical industry is seeing an increase in demand for cyanocobalamin. Veganism is gaining popularity among the general public, and many businesses now provide certified vegan food products in their product lines. Food manufacturers have a lot of options to add cyanocobalamin to their goods to meet the demand for B12 among the vegan population, because fortified foods are becoming increasingly popular. In 2017, France and Germany had the greatest percentage of polled individuals aged 16 to 24. Growing environmental concerns, as well as greenhouse gas emissions, are predicted to drive market demand.
Recent Market Developments:
In July 2019, USFDA granted supplemental drug approval for Calomist, (Cyanocobalamin Nasal Spray) manufactured by Par Pharmaceutical, New York