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Vitamin B12 Ingredient Market Trends

Report ID: GMI6864
Published Date: Oct 2023
Report Format: PDF

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Vitamin B12 Ingredient Market Trends

Growing awareness of the importance of Vitamin B12 for overall health, particularly for vegans, vegetarians, and older adults, is driving demand for Vitamin B12 supplements and fortified foods. The popularity of plant-based diets is leading to a demand for plant-based sources of Vitamin B12, such as fortified plant-based milk, cereals, and supplements. The fortification of plant-based foods with Vitamin B12 is a growing trend to address nutrient deficiencies in plant-based diets.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of vitamin B12 ingredient surpassed USD 269 thousand in 2022 and is set to reach USD 479 thousand by 2032, supported by the growing awareness of the importance of maintaining overall health and well-being.

Animal-based vitamin B12 ingredient industry segment held around 85% in 2022, as it is naturally found in animal products, making it readily available to fortify meat and dairy products.

U.S. market was worth over USD 80.3 thousand in 2022, owing to the focus among consumers on health and wellness, leading to a higher demand for dietary supplements and fortified foods containing Vitamin B12.

BASF SE, Gnosis by Lesaffre, Jubilant Life Sciences, NOW Foods, NutraGenesis LLC (part of Ascenta Health), Nutrilo GmbH, Pharmavit GmbH, Rousselot, Spectrum Chemical Manufacturing Corp., Thermo Fisher Scientific, Zhejiang Shengda Bio-Pharm Co., Ltd.