The global demand for Niacinamide Market is presumed to reach the market size of nearly USD 981.07 MN by 2028 from USD 765.91 MN in 2021 with a CAGR of 3.6% under the study period 2022 - 2028.
Niacinamide (or nicotinamide) offers multi-purpose benefits in skincare by acting as a potent conditioning ingredient in skincare and hair care products. It has a wrinkle-smoothing impact on ageing skin and improves pigmentation problems, which has increased its use in personal care and cosmeceuticals. It is one of the types of vitamin B3 that is essential for good health.
Market Dynamics
The growing consumer awareness about the benefits of niacinamide is expected to fuel the niacinamide-based personal care products market growth. Moreover, increasing niacinamide supplementation in animal feed to avoid vitamin B3 deficiency and associated disorders in livestock will likely boost the market growth. The rising number of clinical research studies to explore niacinamide's pharmaceutical and cosmetic applications would also propel the market growth. Furthermore, the increasing prevalence of chronic diseases and rising government initiatives to raise awareness about the benefits of niacinamide are also likely to provide growth opportunities for the industry. However, the stringent regulations and prominent side effects associated with niacinamide may hamper the growth of this market. The increasing focus on enhancing aesthetic appearance and the growing need to maintain skin health among geriatric populations will continue to contribute to the rising demand for niacinamide cosmetics.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of niacinamide. The growth and trends of niacinamide industry provide a holistic approach to this study.
Market Segmentation
This section of the niacinamide market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
By Application
- Pharmaceutical
- Cosmeceutical
- Human Nutrition
By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Drug Stores And Retail Pharmacies
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Niacinamide market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Niacinamide Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the niacinamide market include Brother Enterprises Holding Co. Ltd, Evonik Industries AG, Fagron Inc., Foodchem International, Glossier, Jubilant Life Sciences Limited, Koninklijke DSM N.V, Lasons India Pvt Ltd, Lonza Group, Merck KGAA, Veer Chemie, Vertellus. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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