The Essential Nutrient for Energy and Nerve Health

Vitamin B12 Market

The Global Vitamin B12 Market reached US$ 346.18 million in 2023 and is expected to reach US$ 517.25 million by 2031, growing at a CAGR of 5.15% during the forecast period 2024-2031.

Vitamin B12 Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Vitamin B12 is an essential water-soluble vitamin that plays a key role in red blood cell formation, neurological function, and DNA synthesis. It is primarily found in animal-based foods such as meat, fish, dairy, and eggs, making supplementation important for vegetarians and vegans. Deficiency can lead to anemia, fatigue, memory issues, and nerve damage. B12 is commonly available in supplement forms such as tablets, injections, and fortified foods. It is vital for maintaining energy levels, brain health, and overall metabolic function.

List of the Key Players in the Vitamin B12 Market:

Hoffmann-La Roche Ltd., Bayer AG, Merck Group, Johnlee Pharmaceuticals Pvt. Ltd, American Regent Inc, Koninklijke DSM N.V., EUROAPI, Pharmavit, Supreem Pharmaceuticals Mysore Pvt. Ltd. and Arshine Feed Additives Co., Ltd.

Industry Development:

On October 25, 2022, DIESSE Diagnostica Senese introduced two new mono-tests for Vitamin B12 and Folate, scheduled for release by the end of November. These tests play a vital role in diagnosing anemia and neuropathy, evaluating nutritional status, and tracking treatment effectiveness for these essential vitamins.

Growth Forecast Projected:

The Global Vitamin B12 Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Vitamin B12 Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Vitamin B12 Market:

By Product: Cyanocobalamin, Hydroxocobalamin, Methyl cobalamin, Adenosyl cobalamin.

By Source: Plant-based, Animal-based.

By Composition: Tablets, Capsules, Powders, Others.

By Application: Food and Beverage, Animal Feed, Personal Care, Others.

Regional Analysis for Vitamin B12 Market:

The regional analysis of the Vitamin B12 Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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