Global Niacinamide Market Size, Trends, By Form (Powder, Liquid, and Others), By Application (Cosmetics, Pharmaceuticals, Animal Feed, Food & Beverages), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Niacinamide Market
The Global Niacinamide Market was valued at US$ 700.95 Mn in 2022, estimated to reach US$ 971.98 Mn by 2030, with a CAGR of 4.17% from 2023-2030.
Niacinamide is a water-soluble vitamin that plays an essential role in a wide range of biological processes. It is a derivative of niacin, but unlike niacin, it does not cause the flushing or itching sensation commonly associated with high doses of niacin. Niacinamide is a vital nutrient for the human body and is involved in energy metabolism, DNA repair, immune function, and the maintenance of healthy skin. It is commonly used in supplements, skin care products, and as a food fortifier to ensure adequate intake of this essential vitamin. Niacinamide is also believed to have various health benefits, such as reducing inflammation, improving skin health, and promoting healthy aging.
Market Drivers
The global niacinamide market is expected to undergo expansion due to its significant popularity in the personal care industry for its various skin benefits. It is known to improve skin texture, reduce fine lines and wrinkles, lighten skin tone, and improve overall skin health. With the rise of the global population's interest in personal grooming and increasing awareness of the benefits of using natural products, the demand for niacinamide has witnessed steady growth in recent years.
Furthermore, with the growth of the aging population and increasing disposable income, the demand for anti-aging products has increased, thus driving the growth of the niacinamide market. The rising prevalence of skin diseases such as acne and rosacea and the demand for effective treatment options have further fueled the growth of the niacinamide market.
Market Restraints
The global niacinamide market may be restrained by the availability of alternative products, such as retinol and vitamin C, which have similar benefits to niacinamide and are preferred by consumers.
Additionally, the high cost of niacinamide products and its limited availability in some regions can also hinder market growth. Another challenge faced by the niacinamide market is the limited understanding of its benefits among consumers, particularly in emerging markets. This lack of awareness can lead to low demand for niacinamide products, limiting the market's growth potential.
Market Segmentation
The scope of the global niacinamide market covers segmentation based on form, application, and region.
Based on form, the global niacinamide market is segmented into powder, liquid, and others. Further, based on application, the market is segmented into cosmetics, pharmaceuticals, animal feed, and food & beverages.
Regional Analysis
The global niacinamide market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia-Pacific region is expected to register rapid growth in the niacinamide market due to the increasing demand from the cosmetics and personal care industries in countries such as China, Japan, and South Korea. These countries have a large population with a growing disposable income, which has resulted in an increase in demand for premium cosmetics and personal care products that contain niacinamide. Additionally, the region has a well-established pharmaceutical industry that uses niacinamide in the production of various drugs.
North America and Europe are also significant markets for niacinamide due to the presence of a large number of pharmaceutical and cosmetic companies that use niacinamide in their products. However, these regions are expected to witness slower growth compared to Asia-Pacific due to market saturation and the maturity of the industries.
Key Players
Lonza Group AG, Merck KGaA, DSM, Jubilant Life Sciences, Zhejiang NHU Co Ltd, Vertellus Holdings LLC, Evonik Industries AG, Lasons India Pvt Ltd, Foodchem International Corporation, Brother Enterprises Holding Co Ltd, BASF SE, etc.
Market Taxonomy
By Form
• Powder
• Liquid
• Others
By Application
• Cosmetics
• Pharmaceuticals
• Animal Feed
• Food & Beverages
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the key opportunities in the Global Niacinamide Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the market?
• What is the competitive landscape in the industry?
• What is the role of key players in the value chain?
Global Niacinamide Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Niacinamide Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Niacinamide Market, By Form
5.1 Y-o-Y Growth Comparison, By Form
5.2 Global Niacinamide Market Share Analysis, By Form
5.3 Global Niacinamide Market Size and Forecast, By Form
5.3.1 Powder
5.3.2 Liquid
5.3.3 Others
6 Global Niacinamide Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Niacinamide Market Share Analysis, By Application
6.3 Global Niacinamide Market Size and Forecast, By Application
6.3.1 Cosmetics
6.3.2 Pharmaceuticals
6.3.3 Animal Feed
6.3.4 Food & Beverages
7 Global Niacinamide Market, By Region
7.1 Global Niacinamide Market Share Analysis, By Region
7.2 Global Niacinamide Market Size and Forecast, By Region
7.3 Global Niacinamide Market Trends and Forecast, By Region
8 North America Niacinamide Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Niacinamide Market Share Analysis, By Form
8.3 North America Niacinamide Market Size and Forecast, By Application
8.4 North America Niacinamide Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Form
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Form
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Form
8.4.3.2 Market Size and Forecast, By Application
9 Europe Niacinamide Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Niacinamide Market Share Analysis, By Form
9.3 Europe Niacinamide Market Size and Forecast, By Application
9.4 Europe Niacinamide Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Form
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Form
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Form
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Form
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Form
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Form
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Form
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Niacinamide Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Niacinamide Market Share Analysis, By Form
10.3 Asia Pacific Niacinamide Market Size and Forecast, By Application
10.4 Asia Pacific Niacinamide Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Form
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Form
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Form
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Form
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Form
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Form
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Form
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Form
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Form
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Niacinamide Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Niacinamide Market Share Analysis, By Form
11.3 Latin America Niacinamide Market Size and Forecast, By Application
11.4 Latin America Niacinamide Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Form
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Form
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Form
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Form
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Form
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Form
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Form
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Niacinamide Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Niacinamide Market Share Analysis, By Form
12.3 Middle East Niacinamide Market Size and Forecast, By Application
12.4 Middle East Niacinamide Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Form
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Form
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Form
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Form
12.4.4.2 Market Size and Forecast, By Application
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Form
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Form
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Lonza Group AG
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Merck KGaA
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 DSM
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Jubilant Life Sciences
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Zhejiang NHU Co Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Vertellus Holdings LLC
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Evonik Industries AG
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Lasons India Pvt Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Foodchem International Corporation
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Brother Enterprises Holding Co Ltd
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
14.11 BASF SE
14.11.1 Overview
14.11.2 Offerings
14.11.3 Key Financials
14.11.4 Business Segment & Geographic Overview
14.11.5 Key Market Developments
14.11.6 Key Strategies
