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Vitamin B12 API Market

Vitamin B12 API Market Size, Share & Trends Analysis Report By Type (Cyanocobalamin, Hydroxocobalamin (Hydroxocobalamin Chloride, Hydroxocobalamin Acetate, Hydroxocobalamin Base), Others (Methylcobalamin, etc.)), By Form (Powder, Liquid), By Grade, By Distribution Channel, By Region, And By Segment Forecasts, 2024-2031.

Report ID : 2536 | Published : 2024-06-20 | Pages: 179 | Format: PDF/EXCEL

Vitamin B12 API Market Size is predicted to grow at a 5.7% CAGR during the forecast period for 2024-2031.

Vitamin B12 API Market info

Vitamin B12(cobalamin) is a vital vitamin necessary for various important body processes, such as the creation of red blood cells as well as the synthesis of DNA. The API for vitamin B12 refers to the unadulterated form of the vitamin, typically acquired through chemical synthesis or fermentation. The active ingredient is responsible for the medicinal or nutritional benefits of products like dietary supplements, injections, or fortified meals. In the pharmaceutical sector, Vitamin B12 is utilized in nutritional therapy to address deficiencies, pernicious anaemia, liver disease, neuritis, and neuralgia. Moreover, in health and personal care products, it functions as a skin-conditioning agent, contributing to skin health and conditioning in cosmetics. Furthermore, in agriculture, animal feed, and poultry farming, Vitamin B12 supplements cattle, sheep, and other livestock, supporting their nutritional requirements.

However, the COVID-19 pandemic significantly impacted the Vitamin B12 Active Pharmaceutical Ingredient (API) market. Supply chain disruptions and manufacturing halts due to lockdowns caused shortages and delays in production. However, the heightened focus on health and immunity during the pandemic led to rapid demand for Vitamin B12 supplements, boosting the market. The shift towards preventive healthcare and the rising awareness of vitamin deficiencies contributed to this demand surge. Despite initial challenges, the market adapted with enhanced production protocols and supply chain strategies, leading to recovery and even growth in the latter stages of the pandemic.

Competitive Landscape

Some Major Key Players In The Vitamin B12 API Market:

  • North China Pharmaceutical Group
  • Kingvit
  • Basic Nutrition
  • EuroAPI
  • Rochem International
  • Wockhardt
  • CSPC Pharmaceutical Group Co., Ltd
  • HealthTech BioActives
  • Antibiotice
  • Pharmavit
  • RX pharmachem
  • Other Market Players

Market Segmentation:

The Vitamin B12 API Market is segmented on the basis of type, grade, form, and distribution channel. Based on type, the market is segmented into Cyanocobalamin, Hydroxocobalamin, and Others (Methylcobalamin, etc.). Based on form, liquid and powder form. On the basis of grade, the segmentation includes Pharmaceutical Grade, Food Grade, and Industrial Grade. On the basis of the distribution channel, the market is segmented into direct sales, distributors/wholesalers, online retailers, pharmacies, and others.

Based On Type, The Cyanocobalamin Segment Is Accounted As A Major Contributor In The Vitamin B12 API Market.

The Cyanocobalamin segment of the Vitamin B12 API market is witnessing rapid growth, driven by growing demand for healthcare products and growing awareness about the importance of vitamin supplementation. The market research indicates a rapid rise in adopting Cyanocobalamin API across different industries, primarily driven by Contract Manufacturing Organizations (CMOs), Pharmaceutical Companies, and other industries. Hence, the cyanocobalamin segment of the Vitamin B12 API market is growing rapidly, driven by its widespread use in supplements and fortified foods.

Online Retailers' Distribution Channel Segment Witnessed Rapid Growth.

The online retailers' distribution channel for the Vitamin B12 API market is expanding significantly, fueled by the convenience of e-commerce platforms and the increasing consumer preference for online shopping. This channel offers a wide range of product choices, competitive pricing, and easy access to customer reviews, enhancing consumer trust and purchase decisions. The growth of digital health trends and the rise in direct-to-consumer brands further drive this segment, making it a vital component of the market.

In The Region, The North American Vitamin B12 API Market Holds A Significant Revenue Share.

The North American Vitamin B12 API Market is predicted to have the very large market revenue share in the forecast period due to the presence of major pharmaceutical companies and nutrition supplement manufacturers, which has led to the optimization of their supply chains and competitive pricing. Additionally, the region has established itself as a reliable sourcing partner, contributing to the steady growth of the North American Vitamin B12 API market, as well as the increasing health awareness and rising need for dietary supplements in the region. Vitamin B12, important for nerve function as well as red blood cell formation, is witnessing heightened interest due to its benefits in managing deficiencies, especially among vegetarians and older people. The market is bolstered by advancements in pharmaceutical manufacturing and a surge in chronic disease cases requiring B12 supplementation. In addition, Asia Pacific is estimated to grow at a rapid rate in the global Vitamin B12 API Market due to rapid industrialization, government initiatives, and increasing funding in various industries.

Recent Developments:

  • In Jan 2023, EUROAPI received approval from its Board of Directors to invest €40 million in implementing a new production technique specifically for vitamin B12 at its facility in Saint-Aubin-lès-Elbeuf (Seine-Maritime, France). This initiative was granted a financial support of €7.9 million by the French Government as part of the Relance plan, Agence de l’Eau Seine-Normandie (Seine-Normandie Water Agency - AESN), and Normandie Region.

Vitamin B12 API Market Report Scope

Report Attribute

Specifications

Growth Rate CAGR

CAGR of 5.7% from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Mn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Type, Grade, Form, And Distribution Channel

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea

Competitive Landscape

Kingvit, Basic Nutrition, EuroAPI, Rochem International, Wockhardt, CSPC Pharmaceutical Group Co., Ltd, HealthTech BioActives, Antibiotice, Pharmavit, RX pharmacy.and Other Market Players

Customization Scope

Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Vitamin B12 API Market Snapshot

Chapter 4. Global Vitamin B12 API Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis

5.1. by Type & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:

5.2.1. Cyanocobalamin

5.2.2. Hydroxocobalamin

5.2.2.1. Hydroxocobalamin Chloride

5.2.2.2. Hydroxocobalamin Acetate

5.2.2.3. Hydroxocobalamin Base

5.2.3. Others (Methylcobalamin, etc.)

Chapter 6. Market Segmentation 2: by Form Estimates & Trend Analysis

6.1. by Form & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Form:

6.2.1. Powder

6.2.2. Liquid

Chapter 7. Market Segmentation 3: by Grade Estimates & Trend Analysis

7.1. by Grade & Market Share, 2019 & 2031

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Grade:

7.2.1. Pharmaceutical Grade

7.2.2. Food Grade

7.2.3. Industrial Grade

Chapter 8. Market Segmentation 4: by Distribution Channel Industry Estimates & Trend Analysis

8.1. by Distribution Channel Industry & Market Share, 2019 & 2031

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Distribution Channel Industry:

8.2.1. Direct Sales

8.2.2. Distributors/Wholesalers

8.2.3. Online Retailers

8.2.4. Pharmacies

8.2.5.  Others

Chapter 9. Vitamin B12 API Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031

9.1.2. North America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Form, 2024-2031

9.1.3. North America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Grade, 2024-2031

9.1.4. North America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel Industry, 2024-2031

9.1.5. North America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

9.2. Europe

9.2.1. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031

9.2.2. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Form, 2024-2031

9.2.3. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Grade, 2024-2031

9.2.4. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel Industry, 2024-2031

9.2.5. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

9.3. Asia Pacific

9.3.1. Asia Pacific Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031

9.3.2. Asia Pacific Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Form, 2024-2031

9.3.3. Asia-Pacific Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Grade, 2024-2031

9.3.4. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel Industry, 2024-2031

9.3.5. Asia Pacific Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

9.4. Latin America

9.4.1. Latin America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031

9.4.2. Latin America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Form, 2024-2031

9.4.3. Latin America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Grade, 2024-2031

9.4.4. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel Industry, 2024-2031

9.4.5. Latin America Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

9.5. Middle East & Africa

9.5.1. Middle East & Africa Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031

9.5.2. Middle East & Africa Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Form, 2024-2031

9.5.3. Middle East & Africa Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Grade, 2024-2031

9.5.4. Europe Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel Industry, 2024-2031

9.5.5. Middle East & Africa Vitamin B12 API Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. North China Pharmaceutical Group

10.2.2.  Kingvit

10.2.3.  Basic Nutrition

10.2.4.  EuroAPI

10.2.5.  Rochem International

10.2.6.  Wockhardt

10.2.7.  CSPC Pharmaceutical Group Co., Ltd

10.2.8.  HealthTech BioActives

10.2.9.  Antibiotice

10.2.10. Pharmavit

10.2.11.  RX pharmachem

10.2.12. Other Prominent Players

Segmentation of Vitamin B12 API Market -

Vitamin B12 API Market By Type

  • Cyanocobalamin
  • Hydroxocobalamin
    • Hydroxocobalamin Chloride
    • Hydroxocobalamin Acetate
    • Hydroxocobalamin Base
  • Others (Methylcobalamin, etc.)

Vitamin B12 API Market Seg

Vitamin B12 API Market By Form

  • Powder
  • Liquid

Vitamin B12 API Market By Grade

  • Pharmaceutical Grade
  • Food Grade
  • Industrial Grade

Vitamin B12 API Market By Distribution Channel

  • Direct Sales
  • Distributors/Wholesalers
  • Online Retailers
  • Pharmacies
  • Others

Vitamin B12 API Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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What is the Vitamin B12 API Market Growth?

Rochem International, Wockhardt, CSPC Pharmaceutical Group Co., Ltd, HealthTech BioActives, Antibiotice, Pharmavit, RX pharmacy.and Other Market Playe

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