Global Riboflavin Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Riboflavin refers to vitamin B2. It is extracted from both plant- and animal-based sources, such as milk, meat, eggs, nuts, enriched flour, and green vegetables. It helps the body break down carbohydrates, proteins and fats. It also contributes to the development of the skin, lining of the digestive tract, blood cells, and brain function. The growing incidences of riboflavin deficiency disorders and rising consumption of healthcare supplements as well as increasing application as food color and fortification are key factors accelerating the market growth.
According to Statista - in 2021, the global dietary supplements market was estimated at USD 137 billion. And the market is projected to grow to USD 185.1 billion by 2025. Also, the rising health consciousness among individuals and growing investment in R&D activities would create lucrative growth prospectus for the market over the forecast period. However, the high cost associated with fortified food products stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Riboflavin Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players as well as growing demand for dietary supplements in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising healthcare spending as well as growing pharmaceuticals sector in the region.
Major market players included in this report are:
BASF SE
DSM
Parchem fine & specialty chemicals.
Advanced Technology & Materials Co., Ltd.
Shanghai Acebright Pharmaceuticals Group Co., Ltd.
Xinfa Pharmaceutical
HUBEI GUANGJI PHARMACEUTICAL CO., LTD.
NB GROUP.
Hegno
ZenithSports
Recent Developments in the Market:
In October 2021, Royal DSM, completed its acquisition of first choice ingredients for an enterprise value of USD 453 million.
In June 2022, Royal DSM, completed acquisition of Prodap. Prodap is a leading animal nutrition and technology company based in Brazil.
Global Riboflavin Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Source, Product Type, Application, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Source
Plant
Dairy
Meat
Eggs
Nuts & Seeds
Algae & Fungus
By Product Type
Powder
Liquid
Tablets
Others
By Application
Food & Beverage
Feed Industry
Pharmaceuticals
Dietary Supplements
Animal Feed
Cosmetics & Personal Care
Others
By Distribution Channel
Direct
Indirect
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
