(Entertainment-NewsWire.com, January 28, 2021 ) The Vitamin B3 Market size is estimated to be valued USD 330 million in 2020 and is expected to reach a value of USD 373 million by 2025, growing at a CAGR of 2.5% during the forecast period. The growth of this market is attributed to the rise in demand for functional and nutritionally enriched processed food products and the prevalence of vitamin deficiencies is driving the market for vitamin B3 during the forecast period. Growth in demand for functional and nutritionally enriched processed food products contributes to the demand for Vitamin B3.
Key players in this market include as Lonza Group AG (Switzerland), Jubilant Life Sciences Ltd. (India), Shandong Hongda Biotechnology Co., Ltd. (China), Vertellus (US), Jiangsu Brother Vitamin Co. Ltd. (China), DSM (Netherlands), Vanetta Ltd. (China), Resonance Specialties (India), Lasons India (India) and Zhejiang Lanbo Biotechnology (China).
Mergers and agreements was one of the key strategies adopted by the leading players in the Vitamin B3 with a view to improve their product line and presence in the market.
Lonza Group AG (Switzerland) operates operates in two segments, namely Lonza Pharma, Biotech & Nutrition, and Lonza Specialty Ingredients.
The Lonza Pharma Biotech & Nutrition (LPBN) segment offers CDMO services for molecules such as Small Molecules, Mammalian & Microbial producta as well as vitamins and nutritional ingredients. The company’s Lonza Specialty Ingredients’ LSI segment comprises various services, which include Microbial Control Solutions, Specialty Chemical Services such as producing specialty intermedates such as pyridine and picoline derivatives for manufacturing of vitamins. Lonza Group’s product portfolio for the vitamins market finds applications for animal as well as human nutrition. R&D activities in the recent past were carried out on a lower scale with respect to the vitamins market. Unlike other leading players in the vitamins market, Lonza Group has limited industry coverage due to its limited product portfolio. The company has engaged in organic growth strategies in recent years through the expansion of its production facilities.
Founded in Switzerland in 1897, Lonza has more than 15,500 employees who operate in 120 sites. The company has a global reach in more than 35 different countries.
Jubilant Life Sciences Limited (India) is one of the major suppliers and manufactures of human and animal nutrition products. The company is global pharmaceutical and life sciences company engaged in offering ingredients and chemicals for its four segments – pharmaceuticals, life science ingredients, drug discovery solutions, and India branded pharmaceuticals.
The Life Science Ingredients segment is engaged in specialty intermediates, nutritional products, and life science chemicals through five manufacturing facilities in India. The drug discovery solutions business is served by Jubilant Biosys, and India branded pharmaceuticals business is an Indian venture with a range of pharmaceutical offerings for the domestic market, focusing primarily on products to treat medical conditions in the field of cardiology and diabetology. Vitamins, including Vitamin B3, are manufactured under its life sciences ingredients business. Jubilant claims to be the second-largest manufacturer of Vitamin B3 with variants including Niacinamide and Niacin for pharmaceutical, personal care, human nutrition, animal nutrition, agrochemical, and industrial applications. The company has production facilities for vitamin B3 in the US, across various countries in Europe and China.
Jubilant LiveSciences has 11 manufacturing facilities across India, Canada, and the US, having robust research and development centers in India and the US. The company has a global reach in more than 100 countries across the globe.
Shandong Hongda Biotechnology Co., Ltd (China) founded in 2004. The company has more than 2,000 employees. It focuses on providing products and key raw materials for the manufacturing of fortified food and beverages.
The company is certified with various globally approved certifications such as the ISO 9001, ISO 22001, and has product quality certifications such as Halal, Kosher, BRC, etc.
Shandong Hongda Biotechnology Co., Ltd. has a global presence in more than 100 countries across Asia, North America, South America, Europe, and Africa.