MARKET INTRODUCTION
Niacin is one of the eight B vitamins and is also referred to as vitamin B3, an essential nutrient for the body. Niacin helps to lower down cholesterol, boost brain function, and ease arthritis. Niacin is a significant component of NADP (Nicotinamide Adenine Dinucleotide Phosphate) and NAD (Nicotinamide Adenine Dinucleotide), two coenzymes involved in cellular metabolism. Niacin plays a significant role in cell signaling and repairing DNA other than acting as an antioxidant. Niacin imparts different health benefits such as the nervous system's proper functioning, production of red blood cells and cellular energy, and enhancement of skin health.
MARKET DYNAMICS
Factors driving the growth of the niacin market are the growing prevalence of vitamin B3 deficiency, and the growth in the demand for functional and nutritionally enriched food products. However, establishment of regulatory control on supplement usage limit is expected to hamper the growth of the market. Moreover, increased demand for nutrition supplements for monogastric animals is likely to create growth opportunities in the market.
MARKET SCOPE
The "Niacin Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of niacin market with detailed market segmentation by source, form, and application. The niacin market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in niacin market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The niacin market is segmented on the basis of source, form, and application. On the basis of source, the market is categorized as natural and synthetic. On the basis of form, the market is categorized as dry, and liquid. On the basis of application, the market is categorized as pharmaceutical, personal care products, agricultural, livestock, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the niacin market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The niacin market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting niacin market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the niacin market in these regions.
MARKET PLAYERS
The report covers key developments in the niacin market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from niacin market are anticipated to have lucrative growth opportunities in the future with the rising demand for niacin in the global market. Below mentioned is the list of few companies engaged in the niacin market.
The report also includes the profiles of key players in niacin market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years.
- NutraScience Labs
- Lonza Group AG
- Vertellus
- The Western Drugs Ltd.
- Glanbia Plc
- Spectrum Chemical Mfg. Corp.
- Jubilant Life Sciences Ltd.
- Shandong Hongda Biotechnology Co., Ltd.
- Lasons India
- DSM
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.