Global Niacinamide Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2031

Niacinamide Market Analysis  

The niacinamide market is experiencing significant growth, driven by its increasing use across various industries such as skincare, pharmaceuticals, and dietary supplements. The rising demand for skincare products, especially those targeting hyperpigmentation, wrinkles, and inflammation, is fueling market expansion. For instance, companies such as OLAY and La Roche-Posay have launched innovative products like OLAY Super Serum and Niacinamide 10 Serum, which feature niacinamide as a key ingredient. In addition, the pharmaceutical sector is utilizing niacinamide in various formulations for treating conditions like pellagra and acne. The growing consumer preference for natural and safe ingredients in personal care products, coupled with increasing health awareness, is expected to boost the market further.

Niacinamide Market Size

The global niacinamide market size was valued at USD 749.02 million in 2023 and is projected to reach USD 1005.54 million by 2031, with a CAGR of 3.75% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Niacinamide Market Trends

“Growing Popularity of Anti-Aging and Brightening Skincare Products”

The niacinamide market is witnessing significant growth, driven by the increasing demand for skincare products due to rising consumer awareness of skin health. One major trend influencing the market is the growing popularity of anti-aging and brightening skincare products that feature niacinamide as a key ingredient. Known for its anti-inflammatory and moisturizing properties, niacinamide is widely used in serums, creams, and lotions aimed at treating hyperpigmentation, acne, and fine lines. For instance, brands such as The Ordinary and CeraVe have introduced niacinamide-based products that target consumers seeking affordable yet effective skincare solutions, contributing to the ingredient's increased use. As more consumers prioritize natural and multifunctional ingredients in their skincare routines, the niacinamide market is expected to expand further, supported by continuous innovations and product formulations in the beauty and personal care industry.

Report Scope and Niacinamide Market Segmentation

Niacinamide Market Definition

Niacinamide, also known as nicotinamide, is a form of vitamin B3, an essential nutrient for the body. It plays a crucial role in various biological processes, including energy production and maintaining healthy skin. In skincare, niacinamide is valued for its multiple benefits, such as reducing inflammation, improving the skin barrier, minimizing the appearance of pores, and treating conditions like acne and hyperpigmentation. It is a water-soluble vitamin that is commonly found in skincare products like serums, moisturizers, and creams, making it a versatile ingredient in both pharmaceutical and cosmetic formulations.

Niacinamide Market Dynamics

Drivers

• Rising Demand for Skincare Products

The rising demand for skincare products is significantly contributing to the growth of the niacinamide market, as consumers increasingly seek beauty solutions that promote healthy, radiant skin. This growing interest is evident in the surge of online discussions and social media trends centered around skincare routines that incorporate effective active ingredients. For instance, the popularity of niacinamide is reflected in products like The Ordinary’s niacinamide serum 10% + Zinc 1%, which has gained a cult following for its ability to reduce the appearance of blemishes, minimize pores, and improve overall skin texture. As more consumers become educated about the benefits of niacinamide, such as its anti-inflammatory properties and its role in strengthening the skin barrier, they are increasingly choosing products that feature this ingredient, driving its adoption across the skincare market.

• Growing Awareness Of Skin Health

The growing awareness of skin health is driving consumers to seek products that deliver multiple benefits, and niacinamide has emerged as a favored ingredient due to its remarkable properties. Various researches has highlighted that niacinamide can improve skin texture, reduce fine lines, and enhance the overall appearance of the skin, leading to increased consumer demand. Brands like Neutrogena have capitalized on this trend by incorporating niacinamide into their formulations, such as the Neutrogena Rapid Tone Repair Dark Spot Corrector, which targets hyperpigmentation and uneven skin tone. Such growing interest in effective, multifunctional skincare products reflects consumers' desire for enhanced skin health, thereby driving the popularity of niacinamide and contributing to its robust market growth.

Opportunities

• Growing Preference for Natural Ingredients

Consumers has become more health-conscious and environmentally aware, there is a growing preference for skincare products that feature natural and effective ingredients. Niacinamide stands out in this landscape due to its reputation as a safe and well-tolerated active component that suits a variety of skin types, including sensitive skin. For instance, brands like Herbivore Botanicals have successfully leveraged this trend by incorporating niacinamide into their Blue Tansy Resurfacing Clarity Mask, which utilizes natural ingredients to enhance skin texture and clarity while providing the soothing benefits of niacinamide. In addition, the rise of clean beauty movements emphasizes transparency in ingredient sourcing, with consumers increasingly seeking products free from harmful additives. This has led to a surge in the popularity of formulations that combine niacinamide with other natural extracts, positioning it as a key player in the natural skincare segment. As a result, the niacinamide market is experiencing significant growth, driven by consumer demand for products

• Rising Innovations in Formulations

Innovations in formulations are playing a pivotal role in driving the adoption of niacinamide in the beauty industry, as companies continuously develop new products that showcase its versatility and effectiveness. For instance, The Ordinary’s Niacinamide 10% + Zinc 1% serum has gained widespread acclaim for its ability to reduce the appearance of blemishes and improve overall skin texture, showcasing how innovative formulations can elevate product performance. In addition, brands like Paula’s Choice have integrated niacinamide into their RESIST Anti-Aging Clear Skin Hydrator, which combines niacinamide with other active ingredients to address multiple skin concerns simultaneously, such as fine lines and enlarged pores. This trend toward multi-functional products enhances consumer interest and encourages brands to explore creative combinations that maximize the benefits of niacinamide. As consumers increasingly seek effective solutions tailored to their specific skincare needs, the continuous innovation in niacinamide formulations is expected to propel its popularity and create opportunities in the niacinamide market.

Restraints/Challenges

• Regulations Creating Delays

Regulatory challenges are a significant hurdle for manufacturers in the global niacinamide market, as different countries enforce varying regulations regarding cosmetic ingredients. For instance, the European Union has stringent regulations under the Cosmetics Regulation (EC) No 1223/2009, which mandates rigorous safety assessments and labeling requirements for cosmetic products, including those containing niacinamide. This regulatory landscape can complicate the entry of manufacturers into the European market, as they must invest time and resources to ensure compliance with these standards. Companies that fail to navigate these regulatory complexities risk facing penalties or market withdrawal, thereby deterring market expansion.

• Quality Control Issues

Quality control issues pose a significant challenge for manufacturers in the niacinamide market, as ensuring consistent quality and potency across formulations is crucial for maintaining consumer trust and brand reputation. Variability in production processes, such as differences in sourcing raw materials or variations in manufacturing techniques, can lead to inconsistencies in the concentration and efficacy of niacinamide in the final product. For instance, if a skincare product claims to contain a specific percentage of niacinamide but fails to meet that standard due to inadequate quality control measures, it could result in ineffective treatment for consumers and potential adverse reactions. For instance, the Ordinary, which is renowned for its straightforward formulations. However, the brand emphasizes rigorous testing to ensure the concentration of active ingredients remains consistent. Any lapses in quality control could lead to negative reviews, recalls, or even legal ramifications, ultimately jeopardizing brand loyalty and market position, ultimately hampering the overall market growth.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Niacinamide Market Scope

The market is segmented on the form, end-use and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Form

• Powder
  • Type
    • Natural
    • Synthetic
• Granular
• Liquid

End-Use

• Human Nutrition
• Pharmaceuticals
• Animal Nutrition
• Cosmeceuticals
• Others

Distribution Channel

• Hospital Pharmacies
• Online Pharmacies
• Drug store and Retail Pharmacies

Niacinamide Market Regional Analysis

The market is analysed and market size insights and trends are provided by country, form, end-use and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America leads the niacinamide market, driven by the increasing aging population and the growing demand for advanced medical technologies. The region's robust healthcare infrastructure, coupled with a rising focus on skincare and wellness products tailored for the elderly, has fueled market growth. In addition, the adoption of innovative formulations, such as those incorporating niacinamide for anti-aging and skin health, further strengthens North America's market dominance.

Asia-Pacific region is projected to experience the highest growth rate in the niacinamide market from 2024 to 2031, driven by increasing health awareness and a growing demand for advanced medical technologies. As consumers in the region become more conscious of the benefits of preventive healthcare and skincare, the market for products enriched with niacinamide is expanding. In addition, advancements in medical and skincare technologies are further boosting demand, positioning Asia-Pacific as a key growth market during the forecast period.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.  

Niacinamide Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Niacinamide Market Leaders Operating in the Market Are:

• Lonza (Switzerland)
• dsm-firmenich (Netherlands)
• Bactolac Pharmaceutical, Inc. (U.S.)
• Merck KGaA (Germany)
• BASF (Germany)
• Foodchem International Corporation (China)
• Evonik Industries AG (Germany)
• Jubilant Pharmova Limited (India)
• Aurorium (U.K.)
• Fagron (U.S.)
• Zhejiang NHU Co., Ltd. (China)
• Brother Enterprises Holding Co., Ltd. (China)
• Lasons India Pvt. Ltd. (India)
• MOLBASE (China)

Latest Developments in Niacinamide Market

• In August 2023, OLAY introduced its latest breakthrough in skincare, the OLAY Super Serum. This advanced formula combines activated niacinamide with powerful ingredients like vitamin C, collagen peptide, vitamin E, and alpha hydroxy acid (AHA), offering impressive skin-transforming benefits
• In June 2023, La Roche-Posay unveiled its Niacinamide 10 Serum, marking the first mass-market serum with 10% pure niacinamide. Clinically proven to even out skin tone, diminish dark spots, and correct discoloration, this serum addresses photodamage and hyperpigmentation, aligning with La Roche-Posay’s dedication to delivering effective, anti-aging skincare solutions

SKU-53148