The global 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.
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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.
Contact:
Mr.
Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
