Nicotinic Acid Market: An Essential Vitamin
- Nicotinic acid is also known as niacin, Vitamin B3, and nicotinamide. It is essential for the growth and synthesis of hormones. This acid is a nutrient, which supports the body by converting food into glucose. Glucose is then utilized to produce energy in the body.
- Nicotinic acid also helps in the normal functioning of the nervous system and decreases fatigue. It is prominently present in meat, fish, whole cereals, yeast, peas, beans, nuts, fruits, and vegetables.
- Tissues present in our body convert absorbed niacin into coenzyme nicotinamide adenine dinucleotide (NAD). NAD is primarily involved in catabolic reactions, for transfer of potential energy in carbohydrates, fats, and proteins to adenosine triphosphate (ATP).
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Key Drivers of Nicotinic Acid Market
- Increase in meat consumption is a key driver of the global nicotinic acid market. Rise in global per capita consumption of meat and increase in awareness regarding the intake of protein in daily diet have augmented meat consumption. Nicotinic acid is added to the animal feed of swine and chicken. This, in turn, is anticipated to fuel the global nicotinic acid market during the forecast period.
- Nicotinic acid is used for the treatment of Type 1 Diabetes. It increases HDL levels and is used in the treatment of pellagra. Demand for vitamin supplements is increasing, owing to the rise in health awareness among consumers. This is driving the global nicotinic acid market.
- Increase in disposable income of the people across the globe has led to changes in lifestyle. This, in turn, has boosted the consumption of junk food. Increase in consumption of junk food has led to an imbalance of cholesterol levels in the body. This, in turn, is likely to boost the demand for medicines, thereby driving the nicotinic acid market.
Lack of Awareness about Benefits of Nicotinic Acid Market to Hamper Market
- The nicotinic acid market is consolidated. Nicotinic acid is used in very small amounts in the production of medicines, cosmetics, etc.
- The market is dominated by a few manufacturers across the globe. Low awareness about the benefits of nicotinic acid is hampering the global nicotinic acid market.
Nicotinic Acid Market Segmentation
- Based on end-user industry, the global nicotinic acid market can be divided into industrial, feed additives, pharmaceuticals, cosmetics, and food & beverages. Nicotinic acid is used for preparation of metal surfaces during the manufacture of zinc and cadmium brighteners. It is also used as a brightener additive in cyanide-free metal baths for galvanic zinc and other metals.
- Nicotinic acid is employed as food additive to improve the color of ground meat. It reacts with hemoglobin and myoglobin present in the meat to form a bright-colored complex.
- Nicotinic acid is used as a formulation for skin cream, hair lotions, and other personal care products in the cosmetics industry. Furthermore, the acid protects the skin from sun damage. Rise in production of premium cosmetic skincare brands has boosted the cosmetics market.
- Consumers across the globe are continually looking to update and advance their knowledge about skin care products. They are extensively engaging themselves in luxury and premium brands online. These factors have led to an increase in the sale of premium skincare brands, thereby boosting the demand for cosmetics across the globe. Nicotinic acid, in the form of nicotinamide, is used to dispense the imbalance created by nicotinamide co-enzymes present in skin, with age. This, in turn, is anticipated to drive the market in the near future.
- Additionally, nicotinic acid in the form of niacinamide helps in regulation of biosynthesis of keratinocyte, which is used to produce keratin. Keratin is a type of protein, protects epithelial cells from damage or stress and is also used for the growth of hairs. In addition, with the changes in lifestyle has led to an increase in hair fall, this in turn is likely to increase the demand for nicotinic acid in the near future. Thus in turn is driving the global nicotinic acid market.
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Asia Pacific Expected to Hold Major Share of Global Nicotinic Acid Market
- In terms of region, the global nicotinic acid market can be segregated into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is anticipated to constitute major share of the global market during the forecast period. China and India have large number of consumers for chicken. Nicotinic acid supplements are given to chickens and swine to meet the basic requirements for the growth of their bodies. This, in turn, is projected to boost the demand for nicotinic acid in the near future.
- With the growing impact of western culture, increase in disposable income, hectic lifestyle, and high youth population are projected to fuel the demand for nicotinic acid in the near future
- Increase in global population and rise in spending power of people in the Asia Pacific region are anticipated to boost the demand for meat in the region. This in turn is anticipated to fuel the demand for nicotinic acid in near future.
- Rise in usage of nicotinic acid in the production of medicines for the prevention and treatment of pellagra, which is a disease caused due to lower levels of nicotinic acid in the body is anticipated to drive the market by the end of the forecast period.
Key Players in Market
Manufacturers of nicotinic acid are primarily engaged in research & development activities, strategic alliances, and mergers & acquisitions to gain higher market share. Major players operating in the global nicotinic acid market include:
- TCI Chemicals (India) Pvt. Ltd.
- Lonza Group Ltd
- Jubilant Life Sciences
- Koninklijke DSM N.V.
- Resonance Specialties Limited
- Vertellus Holdings LLC
- Zhejiang Lanbo Biotechnology Co., Ltd.
- Lasons India Pvt. Ltd.
Global Nicotinic Acid Market: Research Scope
Global Nicotinic Acid Market, by End-use
- Feed additives
- Food & Beverages
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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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:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
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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?
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