Global Riboflavin Market, By Source (Plant, Dairy, Meat, Eggs, Nuts & Seeds and Algae & Fungus), Product Type (Powder, Liquid, Tablets and Others), Application (Food & Beverage, Feed Industry, Pharmaceuticals, Dietary Supplements, Animal Feed, Cosmetics & Personal Care and Others), Distribution Channel (Direct and Indirect), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of the Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights: Global Riboflavin Market
The riboflavin market is expected to witness market growth at a rate of 4.7% in the forecast period of 2022 to 2029 and is expected to reach USD 13.7 billion by 2029. Data Bridge Market Research report on riboflavin market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the disposable income is escalating the growth of riboflavin market.
Riboflavin also is referred to as vitamin B2 and lactoflavin which is an important vitamin, commonly present in several food sources, and is essential for the nourishment of the body. Riboflavin is utilized as a dietary supplement and is found in food products including leaf vegetables, eggs, milk & milk products, lean meat, legumes, mushroom, almonds, and so forth. It is a water-soluble vitamin and is essential for proper growth, development, and functioning of cells.
Major factors that are expected to boost the growth of the riboflavin market in the forecast period are the rise in the health awareness and the importance of healthy diet. Furthermore, the growing of riboflavin deficiency disorders and an increase in the malnutrition is further anticipated to propel the growth of the riboflavin market. Moreover, the developed innovation and technology and new product advancement is further estimated to cushion the growth of the riboflavin market. On the other hand, the expensive fortified food and traditional beliefs is further projected to impede the growth of the riboflavin market in the timeline period.
- In addition, the growing investment in research and development and rise in the dietary supplements will further provide potential opportunities for the growth of the riboflavin market in the coming years. However, the government limitations and the convenience of substitute food products might further challenge the growth of the riboflavin market in the near future.
This riboflavin market report provide details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 riboflavin market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Riboflavin Market Scope and Market Size
The riboflavin market is segmented on the basis of source, product type, application and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of source, the riboflavin market is segmented into plant, dairy, meat, eggs, nuts & seeds and algae & fungus.
- On the basis of product type, the riboflavin market has been segmented into powder, liquid, tablets and others.
- On the basis of application, the riboflavin market are segmented into food and beverage, feed industry, pharmaceuticals, dietary supplements, animal feed, cosmetics & personal care and others.
- On the basis of distribution channel, the riboflavin market is segmented into direct and indirect. Direct is further sub segmented into food processors, feed processors, chemical industries and others. Indirect is further sub segmented into Store-based and online retail. Store-based is further sub segmented into specialty stores, pharmaceuticals and others.
Riboflavin Market Country Level Analysis
The riboflavin market is analyzed, and market size, volume information is provided by country, source, product type, application and distribution channel as referenced above.
The countries covered in the riboflavin market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the riboflavin market due to the rise in the urbanization & industrialization. Furthermore, the product advancement & technological innovations and the growing health awareness amongst the population will further boost the growth of the riboflavin market in the region during the forecast period. Asia-Pacific is projected to observe significant amount of growth in the riboflavin market due to the riboflavin is similarly utilized in pharmaceuticals and cosmetic care because of higher exports. Moreover, the growing demand of riboflavin consumed as a supplement because of several people suffering from vitamin deficiency and rise in the cases of liver abnormalities is further anticipated to propel the growth of the riboflavin market in the region in the coming years.
The country section of the riboflavin market report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major 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, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Riboflavin Market Share Analysis
The riboflavin market competitive landscape provides details by a 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 riboflavin market.
Some of the major players operating in the riboflavin market are BASF SE, DSM, Parchem fine & specialty chemicals., Advanced Technology & Materials Co., Ltd., Shanghai Acebright Pharmaceuticals Group Co., Ltd., Xinfa Pharmaceutical, HUBEI GUANGJI PHARMACEUTICAL CO., LTD., NB GROUP., Hegno, ZenithSports, Legend Industries and F. Hoffman-La Roche Ltd among others.
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