Vitamin B12 Market
Vitamin B12 Market Study by Tablets, Powder, Liquid, and Capsules for Fortified Food & Beverages, Healthcare, Personal Care, Pharmaceuticals, Agriculture, Animal Feed, and Poultry from 2024 to 2034
Analysis of Vitamin B12 Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Vitamin B12 Market Outlook (2024 to 2034)
According to a recent industry analysis by Fact.MR, the global vitamin B12 market is expected to be valued at US$ 312.4 million in 2024 and expand at a CAGR of 6.3% to reach US$ 575.4 million by the end of 2034.
Cobalamin, also called vitamin B12, is the largest of the eight water-soluble B-complex vitamins. It is essential for the formation of DNA and red blood cells. Also, it is an important component for the development and functioning of the brain and nerve cells.
- According to the Food and Agriculture Organization, the average required intake of vitamin B12 for the human body is 2 to 4 micrograms per day.
The human body does not produce vitamin B12, nor do plants synthesize vitamin B12. It can only be found in food from animals. Sources include meat, eggs, and some yeast products. Additionally, the fortification of food is done by artificially adding vitamin B12 to it.
Lack of vitamin B12 can cause anemia and nervous system damage. Elders and infants are more prone to vitamin B12 deficiency as their bodies do not absorb vitamin B12 from food efficiently. Cognitive changes, tiredness, shortness of breath, and muscle weakness are the prominent symptoms of a lack of vitamin B12. Physicians frequently suggest vitamin B12 to cancer patients and pregnant women to improve their immune systems. Also, scientists have proven that vitamin B12 benefits those suffering from depression.
| Report Attributes | Details |
|---|---|
| Vitamin B12 Market Size (2023A) | US$ 293.8 Million |
| Estimated Market Value (2024E) | US$ 312.4 Million |
| Forecasted Market Value (2034F) | US$ 575.4 Million |
| Global Market Growth Rate (2024 to 2034) | 6.3% CAGR |
| China Market Size (2024E) | US$ 51.7 Million |
| United States Market Growth Rate (2024 to 2034) | 5.5% CAGR |
| Key Companies Profiled |
|
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What are the Noteworthy Vitamin B12 Market Trends?
“Rising Adoption of Plant-based Diets That Potentially Lack Vitamin B12”
Plant-based foods lack vitamin B12. This poses nutrient concerns for vegetarians and especially vegans adhering to solely plant-based diets. Deficiency, primarily in vegetarian or vegan pregnant women, can lead to permanent neurological damage in fetuses.
- As per the 2023 report by the World Animal Foundation, there are over 88 million vegans globally, constituting 1% to 2% of the world's population.
- According to estimates from the Ipsos Survey 2018, individuals residing in the United Kingdom exhibit the highest likelihood of transitioning to a vegetarian diet.
The vitamin B12 market size is projected to expand significantly, as there are no other natural sources of vitamin B12 available for these dietary groups.
“Government Recommendations Promoting Vitamin B12 Supplementation and Monitoring”
The human body does not retain significant amounts of vitamin B12, excreting excess amounts through urine. Essential for functions such as nerve health and energy production, a consistent supply of B12 is necessary, as it is not stored long-term. Thus, regular supplementation is recommended, as advised by the United Kingdom government, which also advocates monitoring B12 levels.
The Canadian government has incorporated vitamin B12 into its dietary guidelines. With growing awareness of supplements and increasing prioritization of health, market growth for vitamin B12 sources will be constant.
What is Restricting Vitamin B12 Market Growth?
“Stringent Regulations Governing Dosage Levels, Permissible Additives, and Labeling”
The vitamin B12 market is typically regulated by health authorities in various countries to ensure product safety, efficacy, and accurate labeling. Regulations may include guidelines for dosage levels, permissible additives, and labeling requirements. Additionally, dietary supplement regulations may differ from those governing pharmaceuticals. The Food and Drug Administration (FDA), as the regulatory authority in the United States, monitors the content and labeling of vitamin B12 products in accordance with the Federal Food, Drug, and Cosmetic Act.
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Country-wise Insights
What are the Factors Driving Vitamin B12 Demand in North America?
“Increasing Investments in Health and Wellness”
The United States market is projected to expand at 5.5% CAGR through 2034.
- According to a recent Gallup poll, 5% of adults in the country self-identify as vegetarians.
With the rising availability of plant-based options, the trend toward veganism is expected to surge. Consequently, the reliance on natural sources of vitamin B12 may diminish. Given the higher purchasing power of individuals in North America and their willingness to invest in health, the market for vitamin B12 supplements is projected to expand steadily throughout the forecast period.
Why is China a Lucrative Market for Producers of Vitamin B12 Supplements?
“Rising Demand for Vitamin B12 Supplements Driven by Increase in Elderly Population”
The market in China is forecast to expand at a 7% CAGR and reach US$ 101.7 million by the end of 2034. The country has a rapidly aging population. The absorbability of vitamin B12 from natural sources depends on the stomach acidity level, which is naturally lower in older people. Hence, the requirements of vitamin B12 are met through supplements.
- According to the World Health Organization, China has one of the fastest-growing aging populations in the world. By 2040, 28% of the Chinese population is projected to be above 60. This substantial consumer demographic is forecasted to drive market growth during and beyond the forecast period.
Category-wise Insights
Why are Vitamin B12 Supplements Widely Preferred in the Tablet Form?
"Ease of Consumption and Handing Associated with Tablets”
The tablet form of vitamin B12 supplement is estimated to hold 40% of the vitamin B12 market share in 2024. This segment is valued at US$ 125 million in 2024 and is projected to reach US$ 230 million by the end of 2034.
Vitamin B12 supplements are available in different forms on the market. Out of all other forms, the tablet form of vitamin B12 is easier to consume and handle. Also, it is convenient to get the dosage as the tablets are available in different ranges of concentrations from 50 mcg to 5,000 mcg. Typically, the injectable form is available in a concentration of 1,000 mcg.
Why are Sales of Vitamin B12-Fortified Food and Beverages Rising?
“Government Implementation of Fortified Food Programs to Address Nutritional Deficiencies”
Fortified food & beverages are estimated to hold a 29% market share in 2024. The B12 food segment is estimated at a valuation of US$ 91 million in 2024 and is forecast to climb to US$ 163 million by the end of 2034.
- According to the World Health Organization, micronutrient deficiency, also known as hidden hunger, is more common in low- and lower-middle-income countries.
- According to the Food and Agriculture Organization, countries in South-central and Southeast Asia and Africa heavily rely on staple foods like cereals, roots, and tubers due to the lack of availability of animal-based food.
These population groups have a high risk of micronutrient deficiency. Therefore, to overcome this problem, various strategies for micronutrient interventions have been developed, and one of the strategies is food fortification.
- The UN World Food Programme has pledged to elevate the proportion of fortified rice, maize, and wheat from 60% in 2020 to 80% by 2025. Additionally, it aims to collaborate with 40 nations to guarantee fortified food access for the most vulnerable families.
Countries such as India and China are implementing fortified food programs for their citizens. As a result of these initiatives, demand for vitamin B12 for fortification purposes is projected to rise.
Know thy Competitors
Competitive landscape highlights only certain players
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Competition Landscape
Charkit Chemical, Chem Kart India Pvt Ltd, Koninklijke DSM N.V., Pfizer Inc., Sanofi-Aventis, Bristol-Myers Squibb Company, Apotheca Inc., Johnlee Pharmaceutical Pvt Ltd., American Regent, and Merck Group are key players in the vitamin B12 industry.
- The Cymbiotica Company introduced a composition combining Vitamin B6 and B12 in 2022. The formulation aims to bolster memory, alleviate depression, and promote heart health.
- Zydus Lifescience has been authorized by the United Nations to distribute its generic cyanocobalamin injection. This injection is beneficial for patients with vitamin B12 deficiency and those dealing with anemia. The B12 injection will be available in concentrations of 1,000 mcg/ml, 10,000 mcg/10ml, and 30,000 mcg/30ml.
- In February 2020, DSM made significant investments in advanced technology for both the production and packaging of vitamin B12 supplements. This strategic move was aimed at enhancing production capabilities and expanding business operations.
Fact.MR has provided detailed information about the price points of key manufacturers of vitamin B12 positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Segmentation of Vitamin B12 Market Research
-
By Form :
- Tablets
- Powder
- Liquid
- Capsules
-
By End-use Industry :
- Fortified Food & Beverages
- Pharmaceuticals
- Health & Personal Care
- Agriculture, Animal Feed, Poultry
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Market - Executive Summary 2. Global Market Overview 2.1. Market Definition and Introduction 2.2. Market Taxonomy/ Research Scope 3. Market Background and Foundation Data 3.1. Global Upcycled Ingredients Market Overview, By Ingredient Type, 2019-2024 3.2. Top micronutrients Producing Countries and Volume Produced, 2019-2023 3.3. Global Import and Export Data, 2019-23 3.3.1. By Region 3.3.1.1. Volume 3.3.1.2. Value 3.3.2. By Key Countries 3.3.2.1. Volume 3.3.2.2. Value 3.4. Dietary Fiber Market Overview, 2019-2034 3.4.1. By Region 3.4.2. By End Use Industry 3.5. Key Market Players and Production Capacities, 2023 3.6. Market Regulations on By Country 3.7. Market Opportunity Assessment 3.7.1. Total Available Market (US$ Mn) 3.7.2. Serviceable Addressable Market (US$ Mn) 3.7.3. Serviceable Obtainable Market (US$ Mn) 3.8. Market White Space Assessment 3.9. Market Dynamics 3.9.1. Market Growth Drivers 3.9.2. Market Restraints 3.9.3. Market Opportunity 3.9.4. Market Trends 3.10. Industry Supply Chain Analysis 3.10.1. Value Added at Each Node of Supply Chain 3.10.2. Gross Profitability Margins (at Every Level) 3.10.2.1. List of Prominent Producers 3.10.2.2. List of Distributors 3.11. Forecast and Macro-Economic Factors - Relevance and Impact 4. End-user Consumer Survey Analysis 4.1. End-user Survey Analysis 4.1.1. By Industry Type 4.1.2. By Revenue Levels 4.1.3. By Regional Presence 4.2. Brand Popularity Analysis 4.2.1. By Key Brands 4.2.1.1. By Regions 4.2.1.2. By Countries 5. Global Demand (KT) Analysis and Forecast 5.1. Historical Market Volume (KT) Analysis, 2019-2023 5.2. Current and Future Market Volume (KT) Projections, 2024-2034 5.3. Y-o-Y Volume Growth Trend Analysis 6. Global - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Factors Affecting Pricing 6.3. Global Average Pricing Analysis Benchmark 7. Global Market Value (US$ Mn) Analysis and Forecast 7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023 7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2034 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Market Analysis and Forecast, By Form 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) and Volume (KT) Analysis By Form, 2019-2023 8.3. Current and Future Market Size (US$ Mn) Analysis and Volume (KT) Forecast By Form, 2024-2034 8.3.1. Tablet 8.3.2. Powder 8.3.3. Liquid 8.3.4. Capsule 8.4. Market Attractiveness Analysis By Form 9. Global Market Analysis and Forecast, By End-Use Industry 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) and Volume (KT) Analysis By End-Use Industry, 2019-2023 9.3. Current and Future Market Size (US$ Mn) Analysis and Volume (KT) Forecast By End-Use Industry, 2024-2034 9.3.1. Fortified Food & Beverages 9.3.2. Pharmaceutical 9.3.3. Health and Personal Care 9.3.4. Agriculture, Animal Feed, Poultry 9.4. Market Attractiveness Analysis By End-Use Industry 10. Global Market Analysis and Forecast, By Region 10.1. Introduction 10.2. Historical Market Size (US$ Mn) and Volume (KT) Analysis By Region, 2019-2023 10.3. Current Market Size (US$ Mn) Analysis and Volume (KT) Forecast By Region, 2024-2034 10.3.1. North America 10.3.2. Latin America 10.3.3. Western Europe 10.3.4. Eastern Europe 10.3.5. East Asia 10.3.6. South Asia & Pacific 10.3.7. Middle East & Africa 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis and Forecast 11.1. Introduction / Key Findings 11.2. Pricing Analysis 11.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 11.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 11.4.1. By Country 11.4.1.1. U.S. 11.4.1.2. Canada 11.4.2. By Form 11.4.3. By End-Use Industry 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Form 11.5.3. By End-Use Industry 12. Latin America Market Analysis and Forecast 12.1. Introduction / Key Findings 12.2. Pricing Analysis 12.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 12.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Argentina 12.4.1.4. Rest of Latin America 12.4.2. By Form 12.4.3. By End-Use Industry 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Form 12.5.3. By End-Use Industry 13. Western Europe Market Analysis and Forecast 13.1. Introduction / Key Findings 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 13.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. Italy 13.4.1.3. France 13.4.1.4. U.K. 13.4.1.5. Spain 13.4.1.6. Netherland 13.4.1.7. Nordics 13.4.1.8. Rest of Europe 13.4.2. By Form 13.4.3. By End-Use Industry 13.4.4. By Source 13.4.5. By End Use Industry 13.5. Market Attractiveness Analysis 13.5.1. By Form 13.5.2. By End-Use Industry 14. Eastern Europe Market Analysis and Forecast 14.1. Introduction / Key Findings 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 14.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 14.4.1. By Country 14.4.1.1. Russia 14.4.1.2. Hungary 14.4.1.3. Poland 14.4.1.4. Balkan & Baltics Region 14.4.1.5. Rest of Eastern Europe 14.4.2. By Form 14.4.3. By End-Use Industry 14.5. Market Attractiveness Analysis 14.5.1. By Form 14.5.2. By End-Use Industry 15. East Asia Market Analysis and Forecast 15.1. Introduction / Key Findings 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 15.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 15.4.1. By Country 15.4.1.1. China 15.4.1.2. Japan 15.4.1.3. South Korea 15.4.2. By Form 15.4.3. By End-Use Industry 15.5. Market Attractiveness Analysis 15.5.1. By Form 15.5.2. By End-Use Industry 16. South Asia & Oceania Market Analysis and Forecast 16.1. Introduction / Key Findings 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 16.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 16.4.1. By Country 16.4.1.1. India 16.4.1.2. Thailand 16.4.1.3. Indonesia 16.4.1.4. Malaysia 16.4.1.5. ANZ 16.4.1.6. Rest of South Asia & Oceania 16.4.2. By Form 16.4.3. By End-Use Industry 16.5. Market Attractiveness Analysis 16.5.1. By Form 16.5.2. By End-Use Industry 17. Middle East & Africa Market Analysis and Forecast 17.1. Introduction / Key Findings 17.2. Pricing Analysis 17.3. Historical Market Size (US$ Mn) and Volume (KT) Trend Analysis By Market Taxonomy, 2019-2023 17.4. Market Size (US$ Mn) and Volume (KT) Forecast By Market Taxonomy, 2024 - 2034 17.4.1. By Country 17.4.1.1. GCC Countries 17.4.1.2. Turkey 17.4.1.3. Northern Africa 17.4.1.4. South Africa 17.4.1.5. Rest of Middle East and Africa 17.4.2. By Form 17.4.3. By End-Use Industry 17.5. Market Attractiveness Analysis 17.5.1. By Form 17.5.2. By End-Use Industry 18. Country-level Market Analysis and Forecast 18.1. Introduction / Key Findings 18.1.1. Market Value Proportion Analysis, By Key Countries 18.1.2. Global Vs. Country Growth Comparison 18.2. US Market Analysis 18.2.1. Value Proportion Analysis by Market Taxonomy 18.2.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.2.2.1. By Form 18.2.2.2. By End-Use Industry 18.3. Canada Market Analysis 18.3.1. Value Proportion Analysis by Market Taxonomy 18.3.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.3.2.1. By Form 18.3.2.2. By End-Use Industry 18.4. Brazil Market Analysis 18.4.1. Value Proportion Analysis by Market Taxonomy 18.4.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.4.2.1. By Form 18.4.2.2. By End-Use Industry 18.5. Mexico Market Analysis 18.5.1. Value Proportion Analysis by Market Taxonomy 18.5.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.5.2.1. By Form 18.5.2.2. By End-Use Industry 18.6. Argentina Market Analysis 18.6.1. Value Proportion Analysis by Market Taxonomy 18.6.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.6.2.1. By Form 18.6.2.2. By End-Use Industry 18.6.2.3. By Source 18.6.2.4. By End Use Industry 18.7. Germany Market Analysis 18.7.1. Value Proportion Analysis by Market Taxonomy 18.7.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.7.2.1. By Form 18.7.2.2. By End-Use Industry 18.8. France Market Analysis 18.8.1. Value Proportion Analysis by Market Taxonomy 18.8.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.8.2.1. By Form 18.8.2.2. By End-Use Industry 18.9. Italy Market Analysis 18.9.1. Value Proportion Analysis by Market Taxonomy 18.9.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.9.2.1. By Form 18.9.2.2. By End-Use Industry 18.10. Spain Market Analysis 18.10.1. Value Proportion Analysis by Market Taxonomy 18.10.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.10.2.1. By Form 18.10.2.2. By End-Use Industry 18.11. Netherland Market Analysis 18.11.1. Value Proportion Analysis by Market Taxonomy 18.11.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.11.2.1. By Form 18.11.2.2. By End-Use Industry 18.12. Nordics Market Analysis 18.12.1. Value Proportion Analysis by Market Taxonomy 18.12.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.12.2.1. By Form 18.12.2.2. By End-Use Industry 18.13. U.K. Market Analysis 18.13.1. Value Proportion Analysis by Market Taxonomy 18.13.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.13.2.1. By Form 18.13.2.2. By End-Use Industry 18.14. China Market Analysis 18.14.1. Value Proportion Analysis by Market Taxonomy 18.14.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.14.2.1. By Form 18.14.2.2. By End-Use Industry 18.15. Japan Market Analysis 18.15.1. Value Proportion Analysis by Market Taxonomy 18.15.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.15.2.1. By Form 18.15.2.2. By End-Use Industry 18.16. South Korea Market Analysis 18.16.1. Value Proportion Analysis by Market Taxonomy 18.16.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.16.2.1. By Form 18.16.2.2. By End-Use Industry 18.17. India Market Analysis 18.17.1. Value Proportion Analysis by Market Taxonomy 18.17.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.17.2.1. By Form 18.17.2.2. By End-Use Industry 18.18. Thailand Market Analysis 18.18.1. Value Proportion Analysis by Market Taxonomy 18.18.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.18.2.1. By Form 18.18.2.2. By End-Use Industry 18.19. Indonesia Market Analysis 18.19.1. Value Proportion Analysis by Market Taxonomy 18.19.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.19.2.1. By Form 18.19.2.2. By End-Use Industry 18.20. Malaysia Market Analysis 18.20.1. Value Proportion Analysis by Market Taxonomy 18.20.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.20.2.1. By Form 18.20.2.2. By End-Use Industry 18.21. Australia Market Analysis 18.21.1. Value Proportion Analysis by Market Taxonomy 18.21.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.21.2.1. By Form 18.21.2.2. By End-Use Industry 18.22. New Zealand Market Analysis 18.22.1. Value Proportion Analysis by Market Taxonomy 18.22.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.22.2.1. By Form 18.22.2.2. By End-Use Industry 18.23. GCC Countries Market Analysis 18.23.1. Value Proportion Analysis by Market Taxonomy 18.23.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.23.2.1. By Form 18.23.2.2. By End-Use Industry 18.24. Turkey Market Analysis 18.24.1. Value Proportion Analysis by Market Taxonomy 18.24.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.24.2.1. By Form 18.24.2.2. By End-Use Industry 18.25. Northern Africa Market Analysis 18.25.1. Value Proportion Analysis by Market Taxonomy 18.25.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.25.2.1. By Form 18.25.2.2. By End-Use Industry 18.26. South Africa Market Analysis 18.26.1. Value Proportion Analysis by Market Taxonomy 18.26.2. Volume (KT) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy, 2019-2034 18.26.2.1. By Form 18.26.2.2. By End-Use Industry 19. Market Structure Analysis 19.1. Market Analysis by Tier of Companies 19.2. Market Concentration of Players 19.3. Market Share Analysis of Top Players 19.4. Market Space for Upcoming Manufacturers and Dollar Opportunity 19.5. Market Presence Analysis 19.5.1. By Regional footprint of Players 19.5.2. Product footprint by Players 19.5.3. Channel footprint by Players 20. Market Competition Analysis 20.1. Competition Dashboard 20.2. Pricing Analysis by Competition 20.3. Competition Benchmarking of Products 20.4. Competition Deep Dive: 20.5. Global Brands 20.5.1. Apotheca Inc. 20.5.1.1. Overview 20.5.1.2. Product Portfolio 20.5.1.3. Key Financials 20.5.1.4. Sales Footprint 20.5.1.5. SWOT Analysis 20.5.1.6. Key Developments 20.5.1.7. Strategy Overview 20.5.2. Merck Group 20.5.2.1. Overview 20.5.2.2. Product Portfolio 20.5.2.3. Key Financials 20.5.2.4. Sales Footprint 20.5.2.5. SWOT Analysis 20.5.2.6. Key Developments 20.5.2.7. Strategy Overview 20.5.3. Charkit Chemical Company LLC 20.5.3.1. Overview 20.5.3.2. Product Portfolio 20.5.3.3. Key Financials 20.5.3.4. Sales Footprint 20.5.3.5. SWOT Analysis 20.5.3.6. Key Developments 20.5.3.7. Strategy Overview 20.5.4. Johnlee Pharmaceuticals Pvt. Ltd. 20.5.4.1. Overview 20.5.4.2. Product Portfolio 20.5.4.3. Key Financials 20.5.4.4. Sales Footprint 20.5.4.5. SWOT Analysis 20.5.4.6. Key Developments 20.5.4.7. Strategy Overview 20.5.5. American Regent, Inc. 20.5.5.1. Overview 20.5.5.2. Product Portfolio 20.5.5.3. Key Financials 20.5.5.4. Sales Footprint 20.5.5.5. SWOT Analysis 20.5.5.6. Key Developments 20.5.5.7. Strategy Overview 20.5.6. Others Players 20.5.6.1. Overview 20.5.6.2. Product Portfolio 20.5.6.3. Key Financials 20.5.6.4. Sales Footprint 20.5.6.5. SWOT Analysis 20.5.6.6. Key Developments 20.5.6.7. Strategy Overview 21. Assumptions & Acronyms Used 22. Research Methodology
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List Of Table
Table 01. Global Market Value (US$ million) by Region, 2019-2023
Table 02. Global Market Value (US$ million) and Forecast by Region, 2024-2034
Table 03. Global Market Value (US$ million) By Form, 2019-2023
Table 04. Global Market Value (US$ million) and Forecast By Form, 2024-2034
Table 05. Global Market Value (US$ million) By End Use Industry, 2019-2023
Table 06. Global Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 07. North America Market Value (US$ million) by Country, 2019-2023
Table 08. North America Market Value (US$ million) and Forecast by Country, 2024-2034
Table 09. North America Market Value (US$ million) By Form, 2019-2023
Table 10. North America Market Value (US$ million) and Forecast By Form, 2024-2034
Table 11. North America Market Value (US$ million) By End Use Industry, 2019-2023
Table 12. North America Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 13. Latin America Market Value (US$ million) by Country, 2019-2023
Table 14. Latin America Market Value (US$ million) and Forecast by Country, 2024-2034
Table 15. Latin America Market Value (US$ million) By Form, 2019-2023
Table 16. Latin America Market Value (US$ million) and Forecast By Form, 2024-2034
Table 17. Latin America Market Value (US$ million) By End Use Industry, 2019-2023
Table 18. Latin America Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 19. Western Europe Market Value (US$ million) by Country, 2019-2023
Table 20. Western Europe Market Value (US$ million) and Forecast by Country, 2024-2034
Table 21. Western Europe Market Value (US$ million) By Form, 2019-2023
Table 22. Western Europe Market Value (US$ million) and Forecast By Form, 2024-2034
Table 23. Western Europe Market Value (US$ million) By End Use Industry, 2019-2023
Table 24. Western Europe Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 25. Eastern Europe Market Value (US$ million) by Country, 2019-2023
Table 26. Eastern Europe Market Value (US$ million) and Forecast by Country, 2024-2034
Table 27. Eastern Europe Market Value (US$ million) By Form, 2019-2023
Table 28. Eastern Europe Market Value (US$ million) and Forecast By Form, 2024-2034
Table 29. Eastern Europe Market Value (US$ million) By End Use Industry, 2019-2023
Table 30. Eastern Europe Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 31. East Asia Market Value (US$ million) by Country, 2019-2023
Table 32. East Asia Market Value (US$ million) and Forecast by Country, 2024-2034
Table 33. East Asia Market Value (US$ million) By Form, 2019-2023
Table 34. East Asia Market Value (US$ million) and Forecast By Form, 2024-2034
Table 35. East Asia Market Value (US$ million) By End Use Industry, 2019-2023
Table 36. East Asia Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 37. South Asia & Pacific Market Value (US$ million) by Country, 2019-2023
Table 38. South Asia & Pacific Market Value (US$ million) and Forecast by Country, 2024-2034
Table 39. South Asia & Pacific Market Value (US$ million) By Form, 2019-2023
Table 40. South Asia & Pacific Market Value (US$ million) and Forecast By Form, 2024-2034
Table 41. South Asia & Pacific Market Value (US$ million) By End Use Industry, 2019-2023
Table 42. South Asia & Pacific Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
Table 43. MEA Market Value (US$ million) by Country, 2019-2023
Table 44. MEA Market Value (US$ million) and Forecast by Country, 2024-2034
Table 45. MEA Market Value (US$ million) By Form, 2019-2023
Table 46. MEA Market Value (US$ million) and Forecast By Form, 2024-2034
Table 47. MEA Market Value (US$ million) By End Use Industry, 2019-2023
Table 48. MEA Market Value (US$ million) and Forecast By End Use Industry, 2024-2034
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List Of Figures
Figure 01. Global Market Value (US$ million) Forecast, 2024-2034
Figure 02. Global Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 03. Global Market Value (US$ million) by Region, 2024 & 2034
Figure 04. Global Market Y-o-Y Growth Rate by Region, 2024-2034
Figure 05. Global Market Value (US$ million) By Form, 2024 & 2034
Figure 06. Global Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 07. Global Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 08. Global Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 09. North America Market Value (US$ million) Forecast, 2024-2034
Figure 10. North America Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 11. North America Market Value (US$ million) by Country, 2024 & 2034
Figure 12. North America Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 13. North America Market Value (US$ million) By Form, 2024 & 2034
Figure 14. North America Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 15. North America Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 16. North America Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 17. North America Market Attractiveness Analysis by Country, 2024-2034
Figure 18. North America Market Attractiveness Analysis By Form, 2024-2034
Figure 19. North America Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 20. Latin America Market Value (US$ million) Forecast, 2024-2034
Figure 21. Latin America Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 22. Latin America Market Value (US$ million) by Country, 2024 & 2034
Figure 23. Latin America Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 24. Latin America Market Value (US$ million) By Form, 2024 & 2034
Figure 25. Latin America Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 26. Latin America Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 27. Latin America Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 28. Latin America Market Attractiveness Analysis by Country, 2024-2034
Figure 29. Latin America Market Attractiveness Analysis By Form, 2024-2034
Figure 30. Latin America Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 31. Western Europe Market Value (US$ million) Forecast, 2024-2034
Figure 32. Western Europe Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 33. Western Europe Market Value (US$ million) by Country, 2024 & 2034
Figure 34. Western Europe Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 35. Western Europe Market Value (US$ million) By Form, 2024 & 2034
Figure 36. Western Europe Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 37. Western Europe Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 38. Western Europe Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 39. Western Europe Market Attractiveness Analysis by Country, 2024-2034
Figure 40. Western Europe Market Attractiveness Analysis By Form, 2024-2034
Figure 41. Western Europe Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 42. Eastern Europe Market Value (US$ million) Forecast, 2024-2034
Figure 43. Eastern Europe Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 44. Eastern Europe Market Value (US$ million) by Country, 2024 & 2034
Figure 45. Eastern Europe Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 46. Eastern Europe Market Value (US$ million) By Form, 2024 & 2034
Figure 47. Eastern Europe Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 48. Eastern Europe Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 49. Eastern Europe Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 50. Eastern Europe Market Attractiveness Analysis by Country, 2024-2034
Figure 51. Eastern Europe Market Attractiveness Analysis By Form, 2024-2034
Figure 52. Eastern Europe Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 53. East Asia Market Value (US$ million) Forecast, 2024-2034
Figure 54. East Asia Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 55. East Asia Market Value (US$ million) by Country, 2024 & 2034
Figure 56. East Asia Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 57. East Asia Market Value (US$ million) By Form, 2024 & 2034
Figure 58. East Asia Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 59. East Asia Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 60. East Asia Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 61. East Asia Market Attractiveness Analysis by Country, 2024-2034
Figure 62. East Asia Market Attractiveness Analysis By Form, 2024-2034
Figure 63. East Asia Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 64. South Asia & Pacific Market Value (US$ million) Forecast, 2024-2034
Figure 65. South Asia & Pacific Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 66. South Asia & Pacific Market Value (US$ million) by Country, 2024 & 2034
Figure 67. South Asia & Pacific Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 68. South Asia & Pacific Market Value (US$ million) By Form, 2024 & 2034
Figure 69. South Asia & Pacific Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 70. South Asia & Pacific Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 71. South Asia & Pacific Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 72. South Asia & Pacific Market Attractiveness Analysis by Country, 2024-2034
Figure 73. South Asia & Pacific Market Attractiveness Analysis By Form, 2024-2034
Figure 74. South Asia & Pacific Market Attractiveness Analysis By End Use Industry, 2024-2034
Figure 75. MEA Market Value (US$ million) Forecast, 2024-2034
Figure 76. MEA Market Absolute $ Opportunity (US$ million), 2024-2034
Figure 77. MEA Market Value (US$ million) by Country, 2024 & 2034
Figure 78. MEA Market Y-o-Y Growth Rate by Country, 2024-2034
Figure 79. MEA Market Value (US$ million) By Form, 2024 & 2034
Figure 80. MEA Market Y-o-Y Growth Rate By Form, 2024-2034
Figure 81. MEA Market Value (US$ million) By End Use Industry, 2024 & 2034
Figure 82. MEA Market Y-o-Y Growth Rate By End Use Industry, 2024-2034
Figure 83. MEA Market Attractiveness Analysis by Country, 2024-2034
Figure 84. MEA Market Attractiveness Analysis By Form, 2024-2034
Figure 85. MEA Market Attractiveness Analysis By End Use Industry, 2024-2034
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- FAQs -
What was the global vitamin B12 market size in 2023?
The global vitamin B12 market reached a size of US$ 293.8 million in 2023.
What are the projected sales for vitamin B12 supplements for 2034?
Sales of vitamin B12 are projected to reach US$ 575.4 million by 2034-end.
At what rate is the demand for vitamin B12 fortified food and beverages forecasted to rise?
Sales of vitamin B12-fortified food & beverages are forecasted to rise at a CAGR of 6% from 2024 to 2034.
Who are the leading manufacturers of vitamin B12?
Key players in the market are Chem Kart India, Pfizer Inc., Sanofi-Aventis, and Bristol-Myers Squibb Company.
What is the vitamin B12 market size in China?
The market for vitamin B12 in China is set to reach US$ 51.7 million in 2024.
Vitamin B12 Market