The world is facing tremendous increase in the incidence of diabetes mellitus, cardiac problems, and vitamin deficiency. For combating these challenges, cost-effective and complementary therapies are required. Diabetes has now been classified as a vascular disease and the cost of treating and controlling the micro-vascular component is a serious problem, specifically in developing countries. Niacinamide or nicotinamide is an essential vitamin and also an essential constituent of co-enzymes found in the mammalian systems. Nicotinamide is a member of the vitamin B complex. It is generally soluble in water. Deficiency of nicotinamide can be initially observed with symptoms such as weakness, indigestion, lassitude, anorexia, and irritability, which can lead to diarrhea and dementia. The chemical name of nicotinamide is 3-pyridinecarboxamide. It can be directly synthetized by the human body. In human body, nicotinamide is easily absorbed by the gastro-intestinal (GI) tract. Major dietary sources of nicotinamide are meat, milk, and grains. Physically, nicotinamide is a solid powder with water solubility of 691–1000 grams/liter and vapor pressure of 31.4 hPa at room temperature.
Nicotinamide is a highly important ingredient used in food products to enhance their nutritional value. It is extensively used in bakery products, cereals, and beverages. It is also a type of dietary supplement. It is incorporated in supplements such as tablets and capsules. Nicotinamide is employed in cosmetics as a hair- and skin-conditioning agent. It is also used for the treatment of chronic schizophrenia, diabetes mellitus, and alcoholism. Nicotinamide is undergoing clinical trials for its antidiabetic and neuroprotective effects, so as to use it in pharmaceutical drugs.
Nicotinamide can be synthesized by using 3-picoline. Nicotinic acid or amide can be selectively oxidized to form nicotinamide, with the production of a carboxyl derivative and a few byproducts. The production of nicotinamide can be intensified by enzymatic conversion or biosynthesis. Nicotinamide is extensively employed in a variety of processes carried out in pharmaceuticals, cosmeceuticals, animal nutrition, metal brighteners, and metal plating industries. Nicotinamide is used in pharmaceutical applications that are meant for maintaining healthy cholesterol levels and sound heart functioning in humans. The increasing demand for nicotinic acid for use in various dietary supplements, food products, and pharmaceuticals is driving the global market for nicotinamide. Increasing incidence of coronary diseases and diabetes as well as decreasing nutritional value of food products demands for addition of nutritional value to dietary products. This is also a major reason for increased demand for nicotinamide. Threat from other organic chemicals, development of generic supplement ingredients, and fluctuations in prices of nicotinamide all over the world are major restraints for the nicotinamide market.
Developed regions such as North America and Europe witness the maximum consumption of nicotinamide. Industries such as pharmaceuticals, cosmetics, paints, and beverages are utilizing nicotinamide to improve the quality of their products. Southeast Asia is an expanding market for nicotinamide. The sub-region offers potential for growth of the nicotinamide market in Asia Pacific. Presently, China is the leading supplier of nicotinamide, followed by India and countries of North America and Europe.
Key global players that produce nicotinamide are Jubilant Life Sciences, Yurigose, Zhejiang Lanbo Biotechnology, LONZA, Vertellus, Nantong Acetic Acid Chemical Co., Ltd., Henan Xinyi Medicine group Fine Chemical Industry Company Ltd., Shanghai Jinhuan Chemical, and Brother. Jubilant Life Sciences leads the market in Asia in terms of production of nicotinamide. Growth of food processing and supplements industries has propelled the global nicotinamide market. Increasing incidence of coronary diseases and diabetes would also lead to major consumption of nicotinamide.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.