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Niacin, often known as vitamin B3, is an essential nutrient in humans. Niacin helps to lower cholesterol levels in the human body, lowering the risk of cardiovascular disease. Niacin has been demonstrated in trials to improve good HDL cholesterol levels while decreasing triglyceride levels. Another type of vitamin B3 is niacinamide, which is used to treat diabetes, oral cancer, acne, osteoarthritis, and other conditions. Pellagra can be treated with a niacin and niacinamide combination. Stellar market research has published a study on the niacin and niacinamide market, providing thorough segment analysis, market size, and forecast estimates by form, application, and region.
Niacin and Niacinamide Market Report Scope and Research Methodology :
The report's goal is to give a complete study of the Niacin and Niacinamide market that includes all industry stakeholders. The study analyses complicated data in simple language to describe the past and current condition of the Niacin and Niacinamide Industry, as well as anticipated market size and trends. It examines all areas of the Niacin and Niacinamide industry, with a focus on significant players such as market leaders, followers, and new entrants. The Niacin and Niacinamide market study examines both external and internal elements that affect the business positively or adversely. By analysing market segments and estimating market size, the research also aids in understanding Niacin and Niacinamide market dynamics and market structure. A clear portrayal of significant players'competitive analyses The research serves as an investor's guidance by type, price, financial situation, raw material portfolio, growth strategies, and regional presence in the Niacin and Niacinamide market. The Niacin and Niacinamide Market research includes a PORTER, PESTLE analysis as well as the possible influence of market microeconomic factors.
Niacin and Niacinamide Market Overview:
Stellar Market Research, a Niacin and Niacinamide Market research agency, has released a competitive intelligence and market research report on the "Niacin and Niacinamide Market." The research contains a full analysis of the dynamics and Niacin and Niacinamide market size by segment and region, which aids in understanding the market's future potential.
Niacin and Niacinamide Market size was valued at US$ 1050.28 million in 2022 and the Niacin and Niacinamide revenue is expected to grow at 5.8% through 2023 to 2029, reaching nearly US$ 1558.50 million.
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Niacin and Niacinamide Market Dynamics:
Skin disease, diabetes, heart disease, fatigue, and exhaustion are driving niacin and niacinamide market expansion. Niacin is a B vitamin that is widely used to reduce high blood cholesterol and pellagra (niacin deficiency). Second, because Niacin is a high-nutrition component for animals, the market for Niacin is predicted to develop as the livestock sector expands. The increasing usage of niacin in cosmetics for skincare products is pushing niacin demand worldwide. However, excessive niacin consumption has been associated to side effects such as nausea, vomiting, rashes, headaches, dizziness, irregular heartbeats, and blood sugar increase in some studies.
Niacin and Niacinamide Market Segmentation:
During the projected period, the powder segment is expected to hold the greatest market share. Furthermore, powdered Niacin and Niacinamide have a speedier onset of action than other formulations, fueling the segment's expansion. However, because to faster absorption rates and greater dosage flexibility, the liquid segment accounted for the highest market share in 2020 and is predicted to rise at a significant 7.6% CAGR from 2021 to 2027.
By way of example, In 2020, the animal nutrition category led the Niacin and Niacinamide Market. The segment's supremacy could be attributed in large part to its capacity to alleviate ketosis in dairy cattle, resulting in increased milk supply. According to recent lactation research, cows given niacin consistently produce more milk with higher fat percentages. In contrast, the cosmeceuticals application sector held the biggest market share in 2020 and is predicted to grow at a 7.9% CAGR from 2021 to 2027. Niacinamide is increasingly being used in skincare products due to its ability to protect skin cells from UV exposure.
Niacin and Niacinamide Market Regional Insights
Each regional market is thoroughly researched in order to identify its current and future growth prospects. This information assists clients in expanding their enterprises. The market research Niacin and Niacinamide covers all five regions and their country-by-country distribution. The research also includes information about their Niacin and Niacinamide market size and trends.
Niacin and Niacinamide Market Key Players:
Brother Enterprises Holding Co., Ltd. (China)
Zhejiang NHU Company Ltd. (China)
Fagron NV (Netherlands)
Vertellus Specialties Inc.( United States )
Jubilant Life Sciences Limited (Noida)
Evonik Industries AG (Germany)
Foodchem International Corporation (China)
BASF SE (Germany)
Merck KGaA (Germany)
Bactolac Pharmaceutical Inc. ( United States )
Koninklijke DSM N.V. (Netherlands)
Lonza Group AG (Switzerland)
Key Questions answered in the Niacin and NiacinamideMarket Report are:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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