What is Global Niacinamide for Personal Care Market?
The Global Niacinamide for Personal Care Market is a specialized and in-depth study of the personal care industry with a special focus on the global market trend analysis. Niacinamide, also known as Vitamin B3, is a water-soluble vitamin that plays an important role in maintaining skin health. It is used in a variety of personal care products such as creams, lotions, and serums due to its multiple benefits like improving skin texture, reducing fine lines and wrinkles, and treating hyperpigmentation. The market for Niacinamide in personal care is growing globally due to the increasing awareness about skin health and the rising demand for high-quality skincare products. However, the market also faces some challenges such as stringent regulations regarding the use of certain ingredients in personal care products and the high cost of Niacinamide. Despite these challenges, the market is expected to grow steadily in the coming years due to the increasing demand for natural and organic skincare products.
Cosmetics Grade, Other Grade in the Global Niacinamide for Personal Care Market:
The Global Niacinamide for Personal Care Market is segmented into two grades: Cosmetics Grade and Other Grade. The Cosmetics Grade Niacinamide is specifically designed for use in personal care products. It is highly pure and is safe for topical application. This grade of Niacinamide is used in a variety of skincare products such as creams, lotions, and serums due to its multiple skin benefits. On the other hand, the Other Grade Niacinamide is used in various other applications such as food and beverages, pharmaceuticals, and animal feed. The demand for both grades of Niacinamide is expected to increase in the coming years due to the growing awareness about the benefits of Niacinamide and the rising demand for high-quality personal care products.
Skin Care, Hair Care in the Global Niacinamide for Personal Care Market:
The Global Niacinamide for Personal Care Market finds its application in two major areas: Skin Care and Hair Care. In the Skin Care segment, Niacinamide is used in various products such as creams, lotions, and serums. It helps in improving skin texture, reducing fine lines and wrinkles, and treating hyperpigmentation. In the Hair Care segment, Niacinamide is used in shampoos and conditioners. It helps in strengthening the hair and promoting hair growth. The demand for Niacinamide in both these segments is expected to increase in the coming years due to the growing awareness about the benefits of Niacinamide and the rising demand for high-quality personal care products.
Global Niacinamide for Personal Care Market Outlook:
The Global Niacinamide for Personal Care Market, which was valued at US$ 14 million in 2022, is expected to grow at a steady pace and reach a value of US$ 18 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period from 2023 to 2029. This growth can be attributed to the increasing awareness about skin health and the rising demand for high-quality skincare products. The market also benefits from the growing trend of using natural and organic ingredients in personal care products. However, the market also faces some challenges such as stringent regulations regarding the use of certain ingredients in personal care products and the high cost of Niacinamide. Despite these challenges, the market is expected to grow steadily in the coming years.
| Report Metric | Details |
| Report Name | Niacinamide for Personal Care Market |
| Accounted market size in 2022 | US$ 14 in million |
| Forecasted market size in 2029 | US$ 18 million |
| CAGR | 3.2% |
| Base Year | 2022 |
| 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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| Consumption by Region |
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| By Company | Lonza, DSM, Vertellus, Zhejiang Lanbo Biotechnology, Jubilant Life Sciences, Lasons India, Tianjin Zhongrui Pharmaceutical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
