Coherent Market Insights published a business research report on Riboflavin Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2023–2030. Riboflavin Market with 150+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. The information is gathered based on modern floats and requests identified with the administrations and items.
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The body needs nutrient for carrying out metabolism, Riboflavin is one such nutrient. Lack of riboflavin can lead to metabolism impairment of other nutrients. Deficiency of riboflavin in people will result in decreased flavin coenzyme level which leads to development of cataracts or anemia. Anorexic people have decreased level of calories to a mark where they fail to get the required nutrition. Riboflavin has nutritional benefits and also has some negative aftereffects.
Market Statistics
Globally, the market of riboflavin was priced at US$ 397 million in the year 2021 and is predicted to the extent US$ 670.23 million by the end of the year 2030 at a CAGR of 6.65% from 2022 to 2030.
Asia Pacific holds a dominating place in the market of riboflavin in the year 2021, reporting for 31% volume of share, trailed by North America and Europe respectively.
Recent Developments
- DSM in September 2018 declared plans in expanding vitamin B2 productivity by 15% to 20% at Grenzach, Germany, designed to encounter increasing need in the markets of food and dietary supplements.
Market Drivers
Increasing need from refreshed food & beverages is boosting the market growth of the riboflavin. As per Food Fortification Initiative, approximately 31% of the total industrial wheat flour of the world is fortified/ refreshed. Normally, the nutrients added are zinc, iron and vitamin B includes riboflavin, folic acid, niacin, vitamin B12, thiamin and vitamin B6.
Furthermore, extensive usages and the benefits of riboflavin are further expected to raise the growth of the market. The many usages of the vitamin B2 or riboflavin as is commonly known ranges from food processing industry to the cosmetic industry, animal feed and the pharmaceuticals. Furthermore, the sector of food & beverages has extensive use of riboflavin as colorant of food and in fortifying foods like cereals, bread, beverages and many more which enhances the riboflavin bioavailability. Moreover, it is a vital vitamin added in bakery products, beverages and flour. Also, dairy milk products, energy drinks, breakfast cereals and fruit drinks gets enriched with its addition.
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Market Restraints:
Riboflavin is less stable since it is humidity-sensitive and this property of the vitamin is anticipated to restrain the growth of the market.
The product’s high price restrains the consumers from buying it further which is yet another cause hindering the market growth.
Market Opportunities
Increasing need for food & beverages which is based on plant is anticipated to offer profitable opportunities of growth for companies in the market in future. When riboflavin or vitamin B2 is added in the food & beverages (based on plant), it results in making them more healthy and nutritious, in comparison to traditional food & beverage products available in the market.
Rise in adoption of vitamin B2 / riboflavin in supplement of beauty products is further expected to provide substantial opportunities of growth in the predicted period. The ingredient in vitamin B2/ riboflavin increases occurrence of wrinkles and fine lines. The ingredient so present aids in correcting the tone of the skin, increasing radiance, and natural oil balance. Thus, making it a requirement for dry skin and acne skincare products and supplements.
Market Trends/Key Takeaways
Rise in scope in the supplements for pet foods is anticipated to be a main tendency in the market. For example, Bougie Bakes is a healthy snack alternative manufacturer based in Los Angeles in July 2021 introduced Bougie Bakes Peanut Butter Carob Dog Cookies which is enriched with riboflavin/vitamin B2and other important bioactive constituents.
Increasing acceptance of food products of functional type in the regions of Asia Pacific due to industrialization and change of socio-economic situation is anticipated to accelerate the growth of the market.
Competitive Landscape
BASF SE, Koninklijke DSM NV, Shanghai Acebright Pharmaceuticals Group Co. Ltd, Xinfa Pharmaceutical Co. Ltd, Hubei Guangji Pharmaceutical Co. Ltd, NB Group Co. Ltd, Hegno, Legend Industries, and Hebei Shengxue dacheng Pharmaceutical Co. Ltd
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Riboflavin Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Riboflavin Industry Impact
Chapter 2 Global Riboflavin Competition by Types, Applications, and Top Regions and Countries
2.1 Global Riboflavin (Volume and Value) by Type
2.3 Global Riboflavin (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Riboflavin Sales, Consumption, Export, Import by Regions (2018-2023)
Chapter 5 North America Riboflavin Market Analysis
Chapter 6 East Asia Riboflavin Market Analysis
Chapter 7 Europe Riboflavin Market Analysis
Chapter 8 South Asia Riboflavin Market Analysis
Chapter 9 Southeast Asia Riboflavin Market Analysis
Chapter 10 Middle East Riboflavin Market Analysis
Chapter 11 Africa Riboflavin Market Analysis
Chapter 12 Oceania Riboflavin Market Analysis
Chapter 13 South America Riboflavin Market Analysis
Chapter 14 Company Profiles and Key Figures in Riboflavin Business
Chapter 15 Global Riboflavin Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology
Continued….
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