The global niacin (Vitamin B3) market size was significantly robust in 2020 and is expected to register steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are increasing demand for functional and nutritionally enriched processed food products, rising number of product offerings, technological advancements, and rising awareness about consumption of healthy food products.

Vitamin B3 is a basic micronutrient commercially available in both natural and synthetic forms. It is widely used in consumer, nourishment, pharmaceutical agrochemicals, and other applications for advancement or fortification to improve nutrient value of final product. Vitamin B3, also known as nicotinic acid, is a natural compound considered one of the essential human nutrients. When combined with nicotinamide, it forms nutrient B3 complex group. Besides, it is available in a variety of processed food products such as fish, salmon, sustained packaged food, and specific vegetables. Dairy-based beverages, bakery products, and flours are increasingly fortified with various types of B vitamins to improve their nutritional value. Various government initiatives have been implemented to combat malnutrition through implementation of food fortification programs, which further supports market growth going ahead.

Top Companies Operating in the Global Niacin (Vitamin B3) Market Report:

• Lonza
• Jubilant Life Sciences
• Vertellus
• Brother Enterprises
• Zhejiang Lanbo Biotechnology
• Lasons India
• Vanetta
• DSM
• Tianjin Zhongrui Pharmaceutical
• Resonance Specialties

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The factors that drive the industry's growth are highlighted in the report. The report divides the Niacin (Vitamin B3) market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry's major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.

Market Overview:

Food and beverage enterprises are all involved in the processing, packaging, and distribution of raw food materials. Besides drugs, this industry touches every product designed for human consumption, including fresh and packaged meals, alcohol and nonalcoholic beverages, and food and beverages.

Due to the current economic depression caused by the outbreak of Covid-19, consumers are looking for ways to save money. By purchasing generic items and cooking their own meals instead of going out, consumers are doing so in a number of ways. Consequently, food processing companies are becoming more creative in order to lower the cost of goods sold, attract more customers, and increase their profit margins.

Global food and beverage industries have been adversely affected by obesity. As consumers' desires for healthier foods have increased, so has the demand for nutrition information. Both of these changes have led companies to launch lower-calorie foods and tighten control over how their brands are perceived.

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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.

An analysis of the Niacin (Vitamin B3) market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Niacin (Vitamin B3) market, a country-by-country analysis of the market is provided in the report.

The global Niacin (Vitamin B3) market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further market segmentation

Product Type Outlook (Revenue, USD Billion; 2018-2028)

• Feed grade
• Nutrition grade

End-use Outlook (Revenue, USD Billion; 2018-2028)

• Nutrition
• Consumer
• Agrochemical
• Pharmaceutical

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market? What kind of strategic business plans have they made?

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