What is Global Nicotinamide (NAA) (aka Niacinamide) Market?
The Global Nicotinamide (NAA) (aka Niacinamide) Market is a vast and dynamic sector that encompasses the production, distribution, and consumption of Nicotinamide, also known as Niacinamide. This compound is a form of Vitamin B3 found in food and used as a dietary supplement. It is a significant component in the global market due to its wide range of applications in various industries. The market's value was estimated at US$ 908.8 million in 2022, and it is projected to reach US$ 1045.7 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 2.0% from 2023 to 2029. The Asia Pacific region holds the largest share of this market, contributing over 35% to the global total. The product segment of this market is dominated by feed grade Nicotinamide, which accounts for over 60% of the total market share.
Pharmaceutical Grade, Feed Grade, Food Grade in the Global Nicotinamide (NAA) (aka Niacinamide) Market:
The Global Nicotinamide (NAA) (aka Niacinamide) Market is segmented based on the grade of the product into Pharmaceutical Grade, Feed Grade, and Food Grade. Pharmaceutical Grade Nicotinamide is used in the production of various drugs and health supplements due to its medicinal properties. It is a vital ingredient in the pharmaceutical industry as it helps in the treatment of various health conditions such as high cholesterol, osteoarthritis, and type 1 diabetes. On the other hand, Feed Grade Nicotinamide is used as a nutritional supplement in animal feed. It enhances the nutritional value of the feed and promotes the healthy growth of animals. Lastly, Food Grade Nicotinamide is used as a food additive. It is added to various food products to enhance their nutritional value and extend their shelf life. Each of these grades has its unique properties and applications, contributing to the overall growth and diversity of the Global Nicotinamide Market.
Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals, Others in the Global Nicotinamide (NAA) (aka Niacinamide) Market:
The Global Nicotinamide (NAA) (aka Niacinamide) Market finds its application in various sectors such as Feed Additives, Food and Drinks Industry, Pharmaceutical Industry, Daily Chemicals, and Others. In the Feed Additives sector, Nicotinamide is used as a nutritional supplement to enhance the nutritional value of animal feed. In the Food and Drinks Industry, it is used as a food additive to improve the nutritional content and extend the shelf life of food products. The Pharmaceutical Industry uses Nicotinamide in the production of various drugs and health supplements due to its medicinal properties. In the Daily Chemicals sector, Nicotinamide is used in the production of various daily use products such as cosmetics, personal care products, and cleaning agents. Other sectors also utilize Nicotinamide for various purposes, contributing to the overall growth and diversity of the Global Nicotinamide Market.
Global Nicotinamide (NAA) (aka Niacinamide) Market Outlook:
The future outlook of the Global Nicotinamide (NAA) (aka Niacinamide) Market appears promising, with a projected growth from US$ 908.8 million in 2022 to US$ 1045.7 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 2.0% from 2023 to 2029. The Asia Pacific region is anticipated to continue its dominance in the market, contributing over 35% to the global total. The product segment of this market is expected to remain dominated by feed grade Nicotinamide, which currently accounts for over 60% of the total market share. These projections are based on the current market trends and the expected future developments in the Global Nicotinamide Market.
| Report Metric | Details |
| Report Name | Nicotinamide (NAA) (aka Niacinamide) Market |
| 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, Jubilant Life Sciences, Vertellus, Brother Enterprises, Zhejiang Lanbo Biotechnology, Lasons India, Vanetta, DSM, Tianjin Zhongrui Pharmaceutical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
