Niacinamide Market to Grow with a CAGR of 4.13% through 2029
Surge in research and development activities is
expected to drive the Global Niacinamide Market growth in the forecast period,
2025-2029.
According to TechSci Research report, “Niacinamide Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029F”, the Global Niacinamide Market stood at USD 704.28
Million in 2023 and is anticipated to grow with a CAGR of 4.13% through 2029. Initiatives
taken by government based on niacinamide has led to favorable market conditions
for the Global Niacinamide Market. Several factors contribute to the growth of
various niacinamide products.
Many countries include niacinamide as part of their
dietary guidelines, emphasizing the importance of B vitamins in maintaining
health. Governments support initiatives to increase the awareness of
niacinamide's role in preventing deficiency-related conditions, such as
pellagra. Supplementation programs, particularly in developing regions, may
also focus on B vitamins, including niacinamide, to address public health
concerns related to malnutrition.
Governments enforce regulatory standards for the use
of niacinamide in cosmetic products. Agencies like the U.S. Food and Drug
Administration (FDA) and the European Commission evaluate the safety and
efficacy of ingredients, including niacinamide, to ensure consumer protection.
By establishing guidelines for permissible concentrations and labelling
requirements, these agencies promote transparency and safety in the cosmetics
market.
The increasing consumer awareness surrounding health and wellness is driving demand for functional ingredients in various products. As manufacturers seek to differentiate themselves in a competitive market, they are investing in R&D to explore the health benefits of niacinamide. This includes its potential effects on skin health, metabolism, and overall well-being, leading to the development of innovative formulations that meet consumer needs.
Technological advancements are revolutionizing R&D processes, enabling researchers to conduct more extensive and sophisticated studies. Enhanced analytical methods and techniques allow for deeper insights into niacinamide’s mechanisms of action and its interactions within the human body. This not only helps in substantiating health claims but also aids in formulating more effective products, thereby stimulating market growth.
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The Global Niacinamide Market is segmented into type, end
user, regional distribution, and company.
Based on Type, Powder have emerged as
the dominating segment in the Global Niacinamide Market in 2023. Powdered
niacinamide is renowned for its versatility, making it suitable for a wide
range of applications, including dietary supplements, functional foods,
cosmetics, and animal nutrition. This adaptability allows manufacturers to
incorporate powdered niacinamide into various formulations, catering to diverse
consumer needs and preferences. As the demand for multifunctional ingredients
grows, powdered niacinamide's ability to serve multiple markets strengthens its
position as the leading segment.
Based on Region, Asia Pacific have emerged as the fastest
growing region in the Global Niacinamide Market in 2023. Increasing awareness
among consumers about the benefits of niacinamide, particularly in skincare and
health products, has driven demand. As consumers become more informed about the
advantages of niacinamide for skin health, such as its ability to improve skin
tone and texture, reduce inflammation, and combat signs of aging, its
popularity continues to rise. The Asia Pacific region is experiencing a rapid
expansion in the beauty and personal care industry, driven by rising disposable
incomes, urbanization, and changing lifestyles. This growth is particularly
evident in countries like China, India, and Southeast Asian nations, where
consumers are increasingly investing in skincare products that incorporate
active ingredients like niacinamide.
Major companies operating in Global Niacinamide Market
are:
- Lonza Group Ltd.
- DSM-Firmenich AG
- Merck KGaA
- Foodchem International Corporation
- Jubilant Pharmova Ltd.
- Aurorium Holdings LLC
- Fagron, Inc.
- Brother Enterprises Holding Co.
- Lasons India Pvt.Ltd.
- MOLBASE (Shanghai) Biotechnology Co.,
Ltd
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“Niacinamide can be employed as a functional finishing
agent in textiles. It can enhance the hydrophilicity of fabrics, improving
moisture management and comfort. This characteristic is particularly beneficial
for sportswear and activewear, where moisture-wicking properties are crucial
for performance and user satisfaction. Niacinamide can also improve the dyeing
process and colorfastness of textiles. It acts as a catalyst in dyeing
operations, enhancing the affinity of dyes for fabric fibers and resulting in
more vibrant colors. Additionally, it can help improve the wash and light
fastness of dyed fabrics, making them more durable and long-lasting”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“Niacinamide Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Powder, Liquid, Others), By End User (Human Nutrition, Pharmaceuticals, Animal Nutrition, Cosmeceuticals, Others), By Region and Competition, 2019-2029F”, has evaluated
the future growth potential of Global Niacinamide Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Niacinamide Market.
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