Vitamin B12 ingredient Market Size & Share 2025 – 2034
Market Size by Form, Source, Application, End Use Industries Analysis, Share, Growth Forecast.
Report ID: GMI6864
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Published Date: January 2025
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Report Format: PDF
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Authors:
Kiran Pulidindi, Keshav Tandle
Vitamin B12 ingredient Market Size
The global vitamin B12 ingredient market size was valued at USD 295.4 thousand in 2024 and is estimated to grow at a CAGR of over 5.8% from 2025 to 2034. Growing awareness of the importance of maintaining overall health and well-being has led to greater interest in vitamins and minerals, including Vitamin B12. Vegan and vegetarian diets exclude animal products, which are primary sources of Vitamin B12. As the popularity of plant-based diets increases, the demand for Vitamin B12 supplements and fortified foods rises.
Vitamin B12 ingredient Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The food and beverage industry often fortifies products with essential vitamins, including Vitamin B12. Fortified foods and beverages cater to health-conscious consumers looking for functional and nutritious options. Vitamin B12 is used in pharmaceuticals to treat deficiency-related conditions, such as pernicious anaemia.
Vitamin B12 ingredient Market Trends
The growing awareness of the importance of Vitamin B12 for overall health, especially among specific groups like vegans, vegetarians, and older adults, is driving significant demand for Vitamin B12 supplements and fortified foods. Vitamin B12 plays a crucial role in maintaining nerve function, producing red blood cells, and supporting DNA synthesis, and its deficiency can lead to serious health issues like anemia and neurological problems.
As more people adopt plant-based diets, there is an increasing focus on ensuring adequate Vitamin B12 intake, as plant-based foods generally lack this essential nutrient. This has led to a rise in demand for plant-based sources of Vitamin B12, such as fortified plant-based milk, cereals, and supplements. Plant-based milk, including almond, soy, oat, and coconut milk, is frequently fortified with Vitamin B12 to help individuals meet their nutritional needs without relying on animal-derived products.
The fortification of plant-based foods with Vitamin B12 is becoming a growing trend. Manufacturers are actively adding Vitamin B12 to plant-based products to address potential nutrient deficiencies and support the health of those following plant-based diets. This trend is further amplified by the increasing number of consumers seeking to align their diets with environmental and ethical values, leading to greater adoption of plant-based eating habits.
Overall, the growing awareness of Vitamin B12's role in health, coupled with the rise of plant-based diets, has created a strong demand for fortified plant-based foods and supplements, ensuring that individuals can maintain optimal health while following dietary preferences.
Vitamin B12 ingredient Market Analysis
The market from cyanocobalamin segment held over USD 48.7 thousand revenue in 2024. Cyanocobalamin is the most common and cost-effective form of Vitamin B12, making it a preferred choice for many supplement manufacturers. Cyanocobalamin is readily available and has a longer shelf life compared to other forms, making it suitable for mass production and distribution.
The animal-based segment accounted for 85% of the Vitamin B12 ingredient market share in 2024. Vitamin B12 is naturally found in animal products like meat, dairy, and eggs, making it more accessible for use in the meat and dairy industry. As a result, the demand for Vitamin B12 from this segment is substantial, driven primarily by the need to fortify products such as milk, yogurt, and meat-based products to ensure that they meet the nutritional requirements of consumers.
Animal-derived sources of Vitamin B12 continue to be a major contributor to the market due to their natural availability and widespread use in traditional food products. As the consumption of animal-based products remains high across various regions, this segment is expected to maintain its dominance in the market.
The Vitamin B12 ingredient market from the pharmaceuticals segment is anticipated to witness a 6.4% compound annual growth rate (CAGR) through 2034. Vitamin B12 is a critical ingredient in pharmaceutical formulations, used extensively to treat Vitamin B12 deficiency-related conditions such as pernicious anemia, neurological disorders, and fatigue. The demand for Vitamin B12 supplements and injections continues to rise, particularly as the global population ages and awareness of Vitamin B12 deficiency grows.
The increasing incidence of conditions related to inadequate Vitamin B12 intake further fuels the demand for its inclusion in pharmaceutical products. Pharmaceutical companies are focusing on developing more effective treatments and supplements, contributing to this growth trend.
The human nutrition segment is poised to show significant growth until 2034. The demand for fortified foods and beverages with added vitamins, including Vitamin B12, is continuing to rise. As consumers become more health-conscious, there is an increased focus on nutrition, leading to the fortification of a wide variety of food products such as cereals, plant-based milk, energy bars, and snacks.
Vitamin B12 is considered essential for maintaining energy levels, cognitive function, and red blood cell production, which is why its inclusion in fortified foods has become a significant trend. Growing awareness about the importance of Vitamin B12 in supporting overall human health, along with the rising popularity of plant-based diets, has led to greater demand for supplements and fortified foods containing Vitamin B12. This shift is driving the expansion of the human nutrition segment, positioning it for substantial growth over the coming years.
U.S. vitamin B12 ingredient market size dominated around USD 89.5 thousand in 2024. An increasing number of consumers in North America are focusing on health and wellness, leading to a higher demand for dietary supplements and fortified foods containing Vitamin B12.
Vitamin B12 ingredient Market Share
These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Vitamin B12 ingredient Market Companies
Major players operating in the vitamin B12 ingredient industry are:
Vitamin B12 ingredient Industry News
The vitamin B12 ingredient market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Thousand) & volume (Kilo Tons) from 2021 to 2034, for the following segments:
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Market, By Form
Market, By Source
Market, By Application
Market, By End Use
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
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Our 6-step research process
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