What is Global Food Grade Vitamin B1 Market?
The Global Food Grade Vitamin B1 Market is a specialized and in-depth study of the food industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Food Grade Vitamin B1 market with detailed market segmentation by product, application, and geography. The global Food Grade Vitamin B1 market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Food Grade Vitamin B1 market players and offers key trends and opportunities in the market.
Thiamine Hydrochloride Type, Thiamine Nitrate Type in the Global Food Grade Vitamin B1 Market:
The Global Food Grade Vitamin B1 Market is segmented based on the type of product into Thiamine Hydrochloride Type and Thiamine Nitrate Type. Thiamine Hydrochloride Type is a water-soluble vitamin, part of the vitamin B complex and essential for aerobic metabolism, cell growth, and transmission of nerve impulses. Thiamine Nitrate Type, on the other hand, is a nitrate salt form of thiamine, a vitamin essential for aerobic metabolism, cell growth, and transmission of nerve impulses. Both types are crucial for maintaining a healthy metabolism, nervous system, and cardiovascular system. The market for these types is expected to grow significantly due to the increasing awareness about health and nutrition among consumers.
Food, Beverage in the Global Food Grade Vitamin B1 Market:
The Global Food Grade Vitamin B1 Market finds its applications majorly in the Food and Beverage industry. In the food industry, it is used as a food additive and dietary supplement, enhancing the nutritional value of the food products. It is also used in the fortification of cereals, bread, and other grain products. In the beverage industry, it is used in the production of energy drinks, sports drinks, and other functional beverages due to its role in providing energy and improving mental focus. The demand for Vitamin B1 in these industries is expected to rise due to the increasing consumer preference for fortified and functional food and beverages.
Global Food Grade Vitamin B1 Market Outlook:
Looking at the market outlook, the Global Food Grade Vitamin B1 Market was valued at US$ 58 million in 2022. It is expected to grow and reach a value of US$ 74 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period from 2023 to 2029. When we break down the market by product, the Thiamine Hydrochloride Type holds the largest share, accounting for about 90% of the market. This dominance can be attributed to its wide range of applications in the food and beverage industry and its essential role in human health.
| Report Metric | Details |
| Report Name | Food Grade Vitamin B1 Market |
| Accounted market size in 2023 | US$ 60 million |
| Forecasted market size in 2029 | US$ 74 million |
| CAGR | 3.5 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Jiangxi Tianxin, Brother Enterprises, Huazhong Pharma, DSM, Xinfa Pharmaceutical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
