Riboflavin Market by Source (Plant and Animal), Form (Food & Beverages, Dietary Supplements, Pharmaceutical, Cosmetics & Personal Care, Animal Feed) and Region - Global Forecast to 2027
According to MarketsandMarkets, the global riboflavin market is estimated to be valued at USD 389.5 million in 2022 and is projected to reach USD 555.6 million by 2027. The market is expected to grow with a CAGR of 6.2%, in terms of value between 2022 and 2027. Riboflavin, or vitamin B2, assists many enzymes with multiple daily functions in the body. The market is majorly driven by increasing consumer awareness regarding health & wellness and rising demand for dietary supplements.
Riboflavin Market Dynamics
Drivers: Increasing awareness regarding health and wellness among consumers
In recent years, consumers have become more aware about their health. They are increasingly incorporating dietary supplements in their daily routine. This is expected to drive the consumption and demand for riboflavin-infused supplements.
Restraints: Certain characteristics of riboflavin hinders its growth
Riboflavin is very sensitive to humidity. It becomes less stable in humid environment. Hence, this property of riboflavin is expected to restrain the growth of the market.
Opportunities: Increasing use of riboflavin in cosmetics & personal care industry
Riboflavin is increasingly being used in cosmetic & personal care products and offering lucrative growth opportunities. Riboflavin helps in dealing with fine lines and wrinkles. It also assists in improving skin tone and balancing natural oils.
Challenges: High price of riboflavin
High prices associated with riboflavin and riboflavin products act as a major challenge for companies operating in the market. This factor hinders the growth of global riboflavin market.
By source, the animal segment is expected to dominate the global riboflavin market
Riboflavin is sourced from two sources namely animals and plants. Among these two, animal segment acquires the major market share in the global riboflavin market.
By application, the dietary supplements segment is projected to grow in the forecasted period
On the basis of application, the dietary supplements segment is expected to grow in the coming years. Riboflavin is increasingly being used in supplements owing to its multi-utility. Riboflavin-infused supplements are gaining popularity among the consumers.
Asia Pacific region is expected to dominate the global riboflavin market. The growth of the Asia Pacific riboflavin market is majorly driven by consumers being more aware of health & wellness and the rising per capita income of consumers in the region. Along with this, riboflavin is increasingly being used in various application areas.
Key Market Players:
Key players in this market include BASF SE (Germany), DSM (Netherlands), Hubei Guangji Pharmaceutical Co Ltd (China), NB Group Co., Ltd. (China), Shanghai Acebright Pharmaceuticals Group Co., Ltd. (China), Xinfa Pharmaceutical Co. Ltd (China), Hegno (China), Duchefa Biochemie (Netherlands), Supriya Lifescience Ltd. (India), Harman Finochem Ltd (India), and Ningxia Qiyuan Pharmaceutical Co. (China).
FAQs:
- Which are the major sources of riboflavin considered in this study and which segments are projected to have promising growth rates in the future?
- I am interested in the Asia Pacific market for food & beverage segment and dietary supplement segment. Is the customization available for the same? What all information would be included in the same?
- What are some of the drivers fuelling the growth of the riboflavin market?
- I am interested in understanding the research methodology on how you arrived at the market size and segmental splits before making a purchase decision. Can you provide me with an explanation on the same?
- What kind of information is provided in the competitive landscape section?
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TABLE OF CONTENTS
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.4 REGIONAL SEGMENTATION
1.5 PERIODIZATION CONSIDERED
1.6 CURRENCY CONSIDERED
1.7 VOLUME UNITS CONSIDERED
1.8 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key Data from Secondary Sources
2.1.2 PRIMARY DATA
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 MARKET SIZE ESTIMATION - METHOD 1
2.2.2 MARKET SIZE ESTIMATION - METHOD 2
2.3 DATA TRIANGULATION
2.4 ASSUMPTIONS FOR THE STUDY
2.5 LIMITATIONS OF THE STUDY
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.2 RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.4 CHALLENGES
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
6.3 TECHNOLOGY ANALYSIS
6.4 PRICING ANALYSIS
6.5 ECOSYSTEM/ MARKET MAP
6.6 TRENDS/ DISRUPTION IMPACTING THE CUSTOMER’S BUSINESS
6.7 PATENT ANALYSIS
6.8 TRADE ANALYSIS
6.9 KEY CONFERENCES AND EVENTS IN 2022-2023
6.10 TARIFF AND REGULATORY LANDSCAPE
6.11 PORTER’S FIVE FORCES ANALYSIS
6.12 KEY STAKEHOLDERS & BUYING CRITERIA
6.13 CASE STUDY ANALYSIS
7 RIBOFLAVIN MARKET, BY SOURCE
7.1 INTRODUCTION
7.2 PLANT
7.3 ANIMAL
8 RIBOFLAVIN MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 FOOD & BEVERAGES
8.3 DIETARY SUPPLEMENTS
8.4 PHARMACEUTICAL
8.5 COSMETICS & PERSONAL CARE
8.6 ANIMAL FEED
9 RIBOFLAVIN MARKET, BY FORM
9.1 INTRODUCTION
9.2 DRY
9.3 LIQUID
10 RIBOFLAVIN MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.2.3 MEXICO
10.3 EUROPE
10.3.1 GERMANY
10.3.2 FRANCE
10.3.3 UK
10.3.4 ITALY
10.3.5 SPAIN
10.3.6 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 JAPAN
10.4.4 AUSTRALIA & NEW ZEALAND
10.4.5 REST OF ASIA PACIFIC
10.5 SOUTH AMERICA
10.5.1 BRAZIL
10.5.2 ARGENTINA
10.5.3 REST OF SOUTH AMERICA
10.6 REST OF THE WORLD
10.6.1 AFRICA
10.6.2 MIDDLE EAST
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 MARKET SHARE ANALYSIS
11.3 KEY PLAYERS STRATEGIES
11.4 COMPANY REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
11.5.5 COMPETITIVE BENCHMARKING
11.6 PRODUCT FOOTPRINTS
11.7 STARTUP/SME EVALUATION QUADRANT
11.7.1 PROGRESSIVE COMPANIES
11.7.2 STARTING BLOCKS
11.7.3 RESPONSIVE COMPANIES
11.7.4 DYNAMIC COMPANIES
11.8 PRODUCT LAUNCHES, DEALS, AND OTHER DEVELOPMENTS
11.8.1 NEW PRODUCT LAUNCHES
11.8.2 DEALS
11.8.3 OTHER DEVELOPMENTS
11.8.4 PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES
12 COMPANY PROFILES
12.1 BASF SE
12.2 DSM
12.3 HUBEI GUANGJI PHARMACEUTICAL CO LTD
12.4 NB GROUP CO., LTD.
12.5 SHANGHAI ACEBRIGHT PHARMACEUTICALS GROUP CO., LTD.
12.6 XINFA PHARMACEUTICAL CO. LTD
12.7 HEGNO
12.8 DUCHEFA BIOCHEMIE
12.9 SUPRIYA LIFESCIENCE LTD.
12.10 HARMAN FINOCHEM LTD
Note: Currently, list of only 10 companies have been provided. However, this section covers 12-15 key company profiles which include business overview, recent financials, product offerings, key strategies, and swot analysis. recent financials can be provided based on data/information availability in public domain. The list of companies mentioned above can be altered depending upon client’s interest
13 APPENDIX
Note: The TOC prepared above is tentative and may subject to change, based on the research progress
Growth opportunities and latent adjacency in Riboflavin Market