Vitamin B12 Market to grow at a CAGR of 5.5 percent to reach USD 386.2 Mn by 2029

(EMAILWIRE.COM, July 08, 2023 ) As per Maximize Market research, the total global “Vitamin B12 Market” was USD 251.5 Mn in 2022 and is expected to grow at a CAGR of 5.5 percent over the forecast period to reach USD 386.2 Mn by 2029.

Vitamin B12 Market Report Scope and Research Methodology

The report includes Vitamin B12 Market size estimation and the growth rate along with existing and future trends in the market. The data for the report is collected by using primary and secondary collection methods. A thorough report includes the drivers, restraints, upcoming opportunities, and challenges of the Vitamin B12 Market.

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Vitamin B12 Market Dynamics

The increasing prevalence of Vitamin B12 deficiency, the rising trend of veganism as well as vegetarianism and the growing awareness among consumers about the benefits of Vitamin B12 and changing consumer preferences are the influencing factors for the regional market growth. The market growth is restrained by the high cost of vitamin B12.

Vitamin B12 Market Regional Insights

North America dominated the Vitamin B12 Market in 2022. The increasing awareness about vitamin deficiency, higher sedentary lifestyle and rising availability of several vitamin supplements are the driving factors for the regional market growth.

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Vitamin B12 Market Segmentation

By Product Type

Cyanocobalamin

Methyl cobalamin

Adenosyl cobalamin

By Form

Tablets

Capsules

Injections

Others

By End-User

Pharmaceuticals

Dietary supplements

Food and beverages

Vitamin B12 Market Key Competitors include:

Merck KGaA (Germany)

Pfizer Inc. (USA)

Sanofi S.A. (France)

GlaxoSmithKline plc (UK)

Fermenta Biotech Ltd. (India)

NOW Foods (USA)

Garden of Life LLC (USA)

Nature Made (USA)

Solgar Inc. (USA)

Pure Encapsulations (USA)

The Clorox Company (USA)

Daiichi Sankyo Company Limited (Japan)

Amway (USA)

DSM Nutritional Products (Netherlands)

Nature’s Bounty Co. (USA)

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Maximize Market Research is leading Healthcare research firm, has also published the following reports:

Vitamins Market– The market size is expected to reach USD 11.99 Bn by 2029 at a CAGR of 7.9 percent during the forecast period.

Vitamin D Market– The Market size is expected to reach USD 2.09 Bn by 2029 at a CAGR of 7.8 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.