The niacin and niacinamide market is estimated to reach USD 1.3 billion in 2025. It is anticipated to grow at a CAGR of 3.1% during the assessment period 2025 to 2035 and reach a value of USD 1.8 billion by 2035.
| Attributes | Description |
|---|---|
| Estimated Niacin and Niacinamide Market Size (2025E) | USD 1.3 billion |
| Projected Niacin and Niacinamide Market Value (2035F) | USD 1.8 billion |
| Value-based CAGR (2025 to 2035) | 3.1% |
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Growing Interest in Nutritional Supplements to Boost Sales
With an increasing focus on health and wellness, more people are seeking out dietary supplements enriched with vitamins such as niacin and niacinamide. These vitamins are popular for their ability to help manage cholesterol levels, support energy metabolism, and improve skin health. As individuals become more proactive about their well-being, the demand for these nutritional supplements continues to rise, making them a staple for many looking to enhance their overall health.
Expansion of Pharmaceutical and Cosmetic Industries to Augment Demand
The pharmaceutical and cosmetic industries are seeing significant demand for niacin and niacinamide owing to their essential roles. In the pharmaceutical realm, these vitamins are vital for treating conditions such as pellagra and addressing other deficiencies.
Meanwhile, in cosmetics, their incorporation into skincare products targeting anti-aging and skin brightening has spurred further demand. Additionally, there is a global initiative to fortify staple foods with essential vitamins to combat malnutrition, leading to an increased need for niacin in the food and beverage sector. This combined effort underscores the importance of these vitamins in promoting health across various industries.
Fluctuations in Raw Material Availability and Cost May Hinder Uptake
The production of niacin and niacinamide relies on specific raw materials, such as 3-cyanopyridine and ammonia, whose prices and availability can vary due to factors such as supply chain disruptions, geopolitical issues, and environmental regulations. These fluctuations increase production costs, potentially limiting market growth and reducing manufacturer profits.
Growing Importance in Animal Nutrition and Clean Label Trends
Niacin and niacinamide are increasingly being used for feeding animals because of their significant benefits offered for livestock health and productivity. These vitamins play a crucial role in metabolism, helping to reduce stress and promote overall growth, making them very helpful for ensuring healthy poultry and swine farming. Consumers are also more willing to buy products that are made from niacin that is naturally-made.
Expanding Applications in Skincare and Food Fortification
Niacinamide is also becoming a sought-after ingredient in skincare, known for its ability to give glowing skin, make skin smoother, and also reduce dark circles. Due to increasing popularity, it is widely used in premium cosmetic products.
Furthermore, niacin is being added to staple foods such as rice, wheat, and dairy products to tackle nutrient deficiencies through various food fortification programs. On the production side, advancements in synthesis processes improve the efficiency of niacin and niacinamide production. These improvements lower costs and reduce environmental impact, paving the way for even broader applications of these important vitamins.
Preference for Multifunctional Products
Consumers are attracted to products that offer multiple benefits in a single formulation. For example, in skincare, niacinamide is sought after for its versatility in addressing various concerns, such as hydration, anti-aging, acne control, and skin brightening. Similarly, in dietary supplements, consumers prefer niacin-enriched products that support heart health, energy metabolism, and overall well-being. This demand for multifunctional solutions is influencing product development across industries.
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Tablets are Favored Over Creams and Powders Owing to Their Ease of Storage
| Attributes | Details |
|---|---|
| Top Form Type | Tablet |
| Market Share in 2024 | 41.2% |
By form, the market is divided into dry and liquid. Dry form has a designated size and composition. Due to this, dosage can be more accurate. This makes them to be more preferred by customers. As compared to powders and creams, dry form, for instance, tablets are also easy to store and have a longer shelf life. They are packed in such a way that they can be opened and consumed one at a time. Additionally, owing to their ease of use and affordability, they are a popular choice among consumers.
Stringent Regulations Followed by Hospital Pharmacies to Boost Patient Preference
By distribution channel, the market is divided into pharmacies and drug store, hypermarkets and supermarkets. The pharmacies and drug stores segment egment held 38.9% market share in 2024.
Hospital pharmacies serve as the primary distribution points for prescription-based products, ensuring patients receive the correct formulations and dosages according to their needs. Patients often prefer these pharmacies for medical products as they are trustworthy. Hospital pharmacies work under strict regulations and standards are maintained. Hence they are reliable sources.
These pharmacies also can provide prescribed medications right after a patient sees a doctor. Hence, there is no need for a patient to look out for external retail or online pharmacies. This smoothens the process of getting necessary treatments. Additionally, doctors within the hospital can offer personalized recommendations on the appropriate use of niacin and niacinamide products.
Among the European countries, the UK is expected to show the fastest growth rate during the forecast period, and is expected to grow at a CAGR of 4.57%.
In the UK, fortified foods are becoming popular. Several fortification programs are also taking place in the country. This is leading to a rising niacin demand in the food industry. The European people focus on their looks as well, and the cosmetics market is healthy in Europe. Niacinamide has several benefits for skin, and can help in slowing the aging, promote hydration, and brighten the skin. The rising product use in the skincare industry is boosting market growth in the country.
Asia Pacific has countries showing moderate growth rates during the forecast period. China, among all, shows a higher growth rate, and is expected to grow at a CAGR of 3.64% during the forecast period. Such a growth rate is high, given the population size of China. India might grow at a CAGR of 2.80%, Japan at 1.96%, Australia at 2.52%, and South Korea at 2.05% CAGR during the forecast period.
As the middle-class population in the Asia-Pacific region continues to grow alongside urbanization, more consumers are turning to health supplements and fortified foods that contain niacin and niacinamide. With rising income levels, people are becoming more health-conscious and willing to invest in products that support their well-being.
Additionally, governments and NGOs in developing countries are actively spreading awareness about nutritional deficiencies and implementing strategies to tackle these issues. This increased focus on health is driving demand for niacin-based products, as more individuals seek to improve their nutritional intake.
The pharmaceutical and animal feed industries in the region are also contributing to the rising demand for niacin. The expanding pharmaceutical sector utilizes niacin for various therapeutic applications, while the significant livestock and poultry industry incorporates it into animal feed formulations to ensure healthier animals.
Furthermore, the booming cosmetics market in Asia Pacific is increasingly using niacinamide in skincare products, driven by consumer interest in skin-whitening and anti-aging solutions. Countries such as China and India play a crucial role in this landscape, as they are major producers and exporters of niacin and niacinamide, making these products widely available and affordable for local and regional markets.
The competitive landscape of the niacin and niacinamide market is characterized by the presence of a mix of global and regional players engaged in the production and distribution of these compounds. Key manufacturers often leverage advancements in chemical synthesis and production technologies to improve efficiency and reduce costs.
Many players focus on catering to diverse industries, including pharmaceuticals, animal nutrition, food fortification, and cosmetics, to expand their market reach. Strategic partnerships, collaborations, and mergers are common as companies seek to strengthen their supply chain and distribution networks.
Regional players in countries such as China and India contribute significantly to global exports, owing to cost-effective manufacturing capabilities. Meanwhile, established players in North America and Europe emphasize high-quality standards and product innovation to maintain competitiveness.
| Product Type | Price Range (per kg) |
|---|---|
| Niacin (Vitamin B3) | USD 150 - USD 500 |
| Niacinamide (Vitamin B3 derivative) | USD 300 - USD 1,200 |
| Niacinamide (Bulk) | USD 250 - USD 800 |
| Niacin (Bulk) | USD 100 - USD 350 |
Pricing Analysis Overview:
The pricing of niacin (vitamin B3) and niacinamide keeps varying, and this depends on their purity, how was it produced, and what is it going to be used as. Niacinamide, a derivative of niacin, is usually expensive because its production process is quite complex. It is widely used in cosmetics and personal care products, where raw materials of higher quality and purity are needed for better effects.
Niacinamide prices can be between USD 300 to USD 1,200 per kilogram, and this depends upon how it is going to be used (e.g, either in medicines or in cosmetics). In comparison, niacin (in its basic form) has a price ranging from USD 150 to USD 500 per kilogram. This is mostly influenced by sourcing, purity levels, and how much is its production.
Bulk pricing for both niacin and niacinamide offers a cost advantage for companies purchasing in larger quantities, with prices often lower per kilogram. For niacinamide, bulk purchases can range from USD 250 to USD 800 per kilogram depending on the grade, while bulk niacin can be priced as low as USD 100 to USD 350 per kilogram, especially when sourced in large volumes for industrial uses or as an ingredient in dietary supplements and food.
The price difference between synthetic and bio-fermentation methods, as well as the targeted market segment (cosmetics vs. pharmaceuticals), plays a significant role in the overall price structure within the niacin and niacinamide market.
| Aspect | Niacinamide |
|---|---|
| Top Exporters | India (10,131 shipments), China (3,474 shipments), United States (2,372 shipments) |
| Top Importers | United States (22% of global imports) Vietnam, Philippines (49% collectively) |
| Trade Code (HTS) | 2936.29.1500 |
| Primary Import Sources | China (e.g., 16,000 kg shipments to USA) |
Summary of Export-Import Dynamics
The market demonstrates India's prominence as a key exporter, supplying significant quantities of these nutrients to global markets. India leads in shipments of both niacin (2,470 shipments) and niacinamide (10,131 shipments), followed by other major exporters such as China, Belgium, and the USA.
The USA, a major importer, sources significant amounts of niacinamide, accounting for 22% of global imports. Collectively, the USA, Vietnam, and the Philippines represent nearly half of the global import market for niacinamide. Niacin exports are valued at approximately USD 179.5 million, with an average price of USD 1.56 per unit, emphasizing its economic significance.
Some of the startups in the market include NutraNext Innovations, BioVitality Solutions, Dermaceutical Labs, and others. NutraNext Innovations is a key company that develops advanced dietary supplements infused with niacin and niacinamide to assist energy production and support metabolic health. Another company Nue Co. is focusing on clean and sustainable formulations to appeal to health-conscious consumers.
On the other hand, Glossier emphasizes simplicity and effectiveness to attract a millennial audience. Drunk Elephant incorporates niacinamide into its products, promoting biocompatible and toxin-free skincare solutions to cater to consumers seeking clean beauty options.
By form, the market is segmented into dry and liquid.
By distribution channel, the market is segmented into hospital pharmacies and drug store, hypermarkets and supermarkets, and others.
The market is segmented into North America, Latin America, Western Europe, South Asia and Pacific, East Asia, and the Middle East and Africa.
The market value is poised to reach USD 1.3 billion in 2025.
The market is predicted to reach a size of USD 1.8 billion by 2035.
Some of the prominent product manufacturers include Lonza Group AG, Koninklijke DSM N.V. , and Bactolac Pharmaceutical Inc.
China is expected to be a promising country for the market, holding CAGR of 3.64% during the study period.
| Estimated Market Size (2024E) | USD 1.4 billion |
|---|---|
| Projected Market Value (2034F) | USD 2.5 billion |
| Value-based CAGR (2024 to 2034) | 5.5% |
| Current Year Value (2023) | USD 19.09 billion |
|---|---|
| Expected Forecast Value (2033) | USD 41.64 billion |
| Projected CAGR (2023 to 2033) | 8.1% |
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Niacin and Niacinamide Market
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