Researchmoz added most current research on the "Niacin and Niacinamide Market: Global Industry Analysis (2012-2016) & Opportunity Assessment (2017-2026)" to its vast collection of research reports.
Niacin is an organic compound and is considered to be one of the most important nutrients for humans because niacin deficiency causes pellagra. Niacinamide, an amide of niacin, is also called nicotinic acid amide or nicotinamide. Niacin and niacinamide are integral components of vitamin B3, and are often exchangeable as additives. These are usually found in several food products such as meat, fish, beans, eggs, green vegetables and yeast. Niacin and niacinamide are also sought in various vitamin supplements, especially in vitamin B complex supplements.
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Guidelines for food enhancements to include niacin and niacinamide in most of the food products to test their market growth
Niacin and Niacinamide have been approved by U.S. Food and Drug Administration for the treatment of patients with pellagra. Over the years, niacin has become well-known for the treatment of individuals with high cholesterol levels, but recent studies have shown niacin to have adverse side effects when used to treat cholesterol levels. In countries with malnutrition, one of the biggest problems is regulatory agencies develop guidelines for food strengthening, including edible oil, salt, milk, wheat flour and rice. Inclusion of niacin and niacinamide in most of these foods is one of the aspects of food strengthening in these countries to prevent vitamin B3 deficiency.
niacin and niacinamide market
Lack of vitamin B3 leads to the development of pellagra. Although pellagra is less widespread in developed regions on the back of food enhancement programs, some countries in Africa such as Ethiopia, Zaire and Malawi have a number of reported cases related to pellagra. A health-conscious trend promotes the developed regions, with consumer awareness about health benefits of various dietary supplements like niacin and niacinamide which are experiencing an increase. In addition, the use of niacin in cosmetics, especially in skin care cosmetics, increases the appeal due to its ability to protect skin cells from UV rays.
As projected by Future Market Insights (FMI) in its new research analysis, the global market for niacin and niacinamide will ride on a stable CAGR during the forecast period (2017-2026). Global sales of niacin and niacinamide are estimated to yield approximately 1,500 million US earnings before the 2026 end.
Europe to lead global niacin and niacinamide markets in revenues
Europe will continue to lead the global niacin and niacinamide market in terms of revenue. Increased incidence of Downer Cow syndrome (DCS) in dairy cattle and an increasing number of childhood obesity cases are the major factors expected to affect the demand for niacin and niacinamide in the region. Physical inactivity and unhealthy consumption patterns are the main causes of obesity and obesity in both young and older populations in European countries, which is a major problem for the region's healthcare sector. Niacin has the potential to increase adiposity, insulin sensitivity, glucose tolerance and lipid profile, while modulating adiponektic levels, effectively supplementing obesity management. Doctors in the region strongly recommend taking vitamin B3 supplements, such as niacinamide, to deal with obesity complications.
In addition, niacin has been closely linked to improved energy metabolism and increased glucose content in cows. The government as well as private institutes in the region take the initiative to spread awareness about niacin's benefits of preventing and treating DCS and improving milk production among cows among dairy farmers.
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Important research findings from FMI's report
The powder form of niacin and niacinamide will be sought after by consumers, where sales are expected to represent more than two thirds of the market share in 2017-2026
Animal feed is expected to be the largest end-use of niacin and niacinamide worldwide throughout the forecast period
Key actors profiled by FMI's report include Lonza Group AG, Koninklijke DSM NV, Bactolac Pharmaceutical Inc., Merck KGaA, BASF SE, Foodchem International Corporation, Evonik Industries AG, Jubilant Life Sciences Limited, Vertellus Specialties Inc., Fagron NV, Zhejiang NHU Company Ltd., and Brother Enterprises Holding Co., Ltd.
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