The Global Niacinamide Market size was estimated at USD 725 million in 2022 and is anticipated to reach around USD 950 million by 2032, growing at a CAGR of roughly 3.5% between 2023 and 2032. Our research report offers a 360-degree view of the Niacinamide market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Niacinamide market.
Niacinamide Market: Overview
The coenzyme Nicotinamide Adenine Dinucleotide (NAD), Nicotinamide Adenine Dinucleotide (NADH), Nicotinamide Adenine Dinucleotide (NADP), and NADPH are all made up of the water-soluble vitamin B3 niacinamide. It is the active form of vitamin B3, and by functioning as a potent conditioning component in skincare and hair care products, it provides multiple benefits for skin care.
Niacinamide increases collagen levels while decreasing extracellular matrix-degrading enzyme levels and inhibiting the generation of prostaglandins. Niacinamide also improves the skin’s functional integrity by increasing the synthesis of lipids and fatty acids. It is essential for maintaining skin homeostasis because it effectively controls the redox state of skin cells and the different metabolites produced.
Browse the full “Niacinamide Market Size, Trends and Insights By Grade (Feed Grade, Pharmaceutical Grade), By Form (Liquid, Granular, Powder), By End-use (Cosmeceutical, Pharmaceutical, Animal Nutrition, Human Nutrition), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/niacinamide-market/
The use of topical niacinamide to treat skin conditions, improve the appearance of aged facial skin, and lessen hyperpigmentation is on the rise. The growing number of clinical research projects investigating niacinamide’s uses in medicine and cosmetics would also fuel the niacinamide industry expansion. Niacinamide, an essential nutrient, has been studied extensively in recent years to learn more about its potential for the prevention and treatment of cancer, wound healing, psoriasis, pigmentation disorders, acne vulgaris, and blistering disorders. Niacinamide supplementation is extremely beneficial for the skin and the entire body.
It is also commonly used in cosmetics to lighten skin tone and halt the skin’s aging process. Niacinamide-containing cosmetics are more in demand as senior people emphasize improving aesthetic appearance and need to maintain skin health.
Since niacinamide functions as a tyrosinase inhibitor and blocks the transfer of melanosomes to keratinocytes, it is also intensively researched for its skin-lightening qualities. It is crucial for people who want to rejuvenate their skin yet are prone to acne because it also lowers sebum production on the face. Niacinamide is used more frequently in cosmetic products like face serums and moisturizers. However, some people’s demand for these goods can be reduced by specific side effects like rash, itching, upset stomach, gas, or allergic response, which can somewhat impede the market growth.
The market for Niacinamide is segmented into grade, form, and end-use. The global niacinamide market has been divided into granular, powder, and liquid segments based on form. Due to the growing use of granular niacinamide in vitamin B3 dietary supplements, such as tablets and hard-shell capsules, the granular category is anticipated to experience strong revenue CAGR growth throughout the projection period. Additionally, multivitamins, bakery goods, fortified animal feed, and cosmetics include granular niacinamide. Another element anticipated to support this segment’s sales growth is the accessibility of extremely pure, high-quality, and process-stable granular niacinamide.
The global niacinamide market has been divided into four categories based on end use: pharmaceutical, cosmeceutical, animal nutrition, and human nutrition. Due to the growing use of niacinamide in treating autoimmune skin disorders, skin lesions, chronic acne, diabetic Mellitus, and osteoarthritis, the pharmaceutical segment is anticipated to dominate in revenue over the forecast period. Additionally, it is utilized to prevent diseases like pellagra, disorders like vitamin B3 insufficiency, and cancer.
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Over the course of the forecast period, North America is anticipated to hold the biggest revenue share in the global niacinamide market, thanks to rising niacinamide usage in the form of cosmetics, dietary supplements, bakery goods, and multivitamin supplements. Growth in the niacinamide industry is also projected to be fueled by consumers switching more frequently from prescription drugs to over-the-counter remedies like cosmeceuticals due to inadequate insurance coverage for medications intended to treat photoaging skin. Additionally, a variety of items’ accessibility and rising affordability are significant aspects anticipated to support the North American market’s revenue growth.
Competitive Landscape/ Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Niacinamide market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
Some of the prominent players
- Lonza Group
- Zhejiang Lanbo Biotechnology
- Merck KGaA
- Evonik Industries AG
- Foodchem International Corporation
- Koninklijke DSM N.V.
- BASF SE
- Bactolac Pharmaceutical Inc.
- Lasons India.
- Foodchem International Corporation
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