Pyridoxine Market outlook
The growing consciousness, concerning health and wellness, underpins the rising demand for vitamins, nutraceuticals, and dietary supplements, which aids in preventing diseases and health-related issues. Along with growing consciousness regarding preventive healthcare, there is increasing demand for vitamin supplements and vitamin fortified food products among the millennial and baby boomers to overcome the prevailing vitamin deficiency in the body. Pyridoxine commonly known as vitamin B6 is one such vital water-soluble vitamin that is needed by the body to provide complete nutrition and nourishment to the body. Pyridoxine is a potential vitamin used for the metabolism of lipids, carbohydrates, amino acids, and other nitrogen-containing compounds, thereby maintaining proper health of nerves, red blood cells, and skin. Pyridoxine is also used in the prevention and treatment of peripheral neuropathy, pyridoxine-dependent epilepsy, and anemia in the body. Thus pyridoxine is anticipated to witness a growing demand owing to its effectiveness in preventive and curative healthcare and growing demand for dietary supplements among the demographics.
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Preventive Healthcare and Upsurging Market for Vitamin Fortified Food Products is Paving the Path for Pyridoxine
Trends toward healthy living and preventive healthcare among consumers aiming to extend healthy life spans along with dodging expensive healthcare costs are generating growth opportunities for pyridoxine market over the forecast period. The increasing urbanization is leading to growing hectic lifestyles of the consumers; this fast-paced lifestyle is leading to lack of proper diet and nutrition which is needed to maintain the proper working of the body. The lack of intake of appropriate nutrients like vitamins leads to an increasing deficiency of vitamin in the body that is leading to numerous health issues and diseases. To prevent such health issues, the consumers are switching towards dietary supplements like pyridoxine, which complete the nutritional requirements of the individuals. Apart from this, the pyridoxine market is expected to witness a snowballing demand owing to the rapidly growing fortified and functional food and beverage market. Today’s consumers not only demand flavorful and aesthetically appealing food products but also want food which has health aiding properties; thus consumers prefer functional and fortified food and beverages over the conventional choices available. Therefore, to cope up with the changing eating trends of consumers, the manufacturers are offering pyridoxine fortified food products including pyridoxine-rich baked goods, snacks, beverages and health drinks, breakfast cereals, and others is boosting the demand for pyridoxine over the forecast period. Pyridoxine also finds application in other industrial applications including animal feed, cosmetics, and cosmeceutical products. Pyridoxine is used in the supplements of young ruminants and livestock to compensate for their dietary requirement and to provide the proper nutrition. The increasing concern regarding animal welfare and nutritional animal feed is opening the way for pyridoxine manufacturers and giving them the opportunity to upscale their pyridoxine production capacities.
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Global Pyridoxine Market: Segmentation
On the basis of grade, the global pyridoxine market has been segmented as-
- Food Grade
- Feed Grade
- Pharmaceutical Grade
On the basis of form, the global pyridoxine market has been segmented as-
On the basis of end use, the global pyridoxine market has been segmented as-
- Food and Beverages
- Bakery and Confectionary
- Dietary Supplements
- Animal Feed
- Cosmetics and Personal Care
On the basis of region, the global pyridoxine market has been segmented as-
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Global Pyridoxine: Key Players
Some of the major players of pyridoxine market include: BASF SE, Jiangxi Tianxin Pharmaceutical Co. Ltd., Koninklijke DSM N.V., Acebright Pharmaceuticals Group, Huazhong Pharmaceutical, NOW Health Group, Inc., Nanjing Pharmaceutical Factory Co. Ltd., and Shanghai Hegno Pharmaceutical Holding Co., Ltd., among others.
Key Takeaways: Pyridoxine
- In 2016, DSM Nutritional Products, a part of Koninklijke DSM N.V., opened a new manufacturing facility of pyridoxine hydrochloride also known as Vitamin B6, to meet the growing demand for vitamin B6 fortified food and personal care products. The DSM Nutritional Products invested over US$ 100 million in the Xinghou Development Zone of Shanghai.
Opportunities for Participants of Pyridoxine Market:
The market for pyridoxine is anticipated to have a lucrative market in North America and the Asia Pacific. The growing health and wellness trend in North America backed with the rising demand for dietary supplements, nutraceuticals, and fortified food and beverages are anticipated to fuel the demand for pyridoxine market. Besides, pyridoxine is used in several pharmaceutical formulations which is again boosting its demand in North America over the forecast years. The Asia Pacific is also anticipated to have a large share for pyridoxine market, owing to rapidly growing population, rising awareness regarding preventive healthcare, increasing vitamin deficiency among demographics, growing per capita expenditure of consumers, and surging demand for healthy products. The manufacturers of pyridoxine are focusing on upscaling their production capacities to meet the growing demand from the end-user industries. Besides, the manufacturers are focusing on using innovations and technologies to enhance the efficiency and efficacy of their products. The food and beverage manufacturers, on the other hand, are well aware of the changing consumers eating habit and growing consumption trend for healthy and fortified food products; hence they are fortifying their conventional offerings with pyridoxine to cater to the changing consumers demand.
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The following regional segments are covered comprehensively:
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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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