Nicotinamide Market by Regional Analysis, Key Players and Forecast 2024
The world is facing tremendous increase in the incidence of diabetes mellitus, cardiac problems, and vitamin deficiency. For combating these challenges, cost-effective and complementary therapies are required. Diabetes has now been classified as a vascular disease and the cost of treating and controlling the micro-vascular component is a serious problem, specifically in developing countries. Niacinamide or nicotinamide is an essential vitamin and also an essential constituent of co-enzymes found in the mammalian systems. Nicotinamide is a member of the vitamin B complex. It is generally soluble in water. Deficiency of nicotinamide can be initially observed with symptoms such as weakness, indigestion, lassitude, anorexia, and irritability, which can lead to diarrhea and dementia. The chemical name of nicotinamide is 3-pyridinecarboxamide. It can be directly synthetized by the human body. In human body, nicotinamide is easily absorbed by the gastro-intestinal (GI) tract. Major dietary sources of nicotinamide are meat, milk, and grains. Physically, nicotinamide is a solid powder with water solubility of 691–1000 grams/liter and vapor pressure of 31.4 hPa at room temperature.
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Nicotinamide is a highly important ingredient used in food products to enhance their nutritional value. It is extensively used in bakery products, cereals, and beverages. It is also a type of dietary supplement. It is incorporated in supplements such as tablets and capsules. Nicotinamide is employed in cosmetics as a hair- and skin-conditioning agent. It is also used for the treatment of chronic schizophrenia, diabetes mellitus, and alcoholism. Nicotinamide is undergoing clinical trials for its antidiabetic and neuroprotective effects, so as to use it in pharmaceutical drugs.
Nicotinamide can be synthesized by using 3-picoline. Nicotinic acid or amide can be selectively oxidized to form nicotinamide, with the production of a carboxyl derivative and a few byproducts. The production of nicotinamide can be intensified by enzymatic conversion or biosynthesis. Nicotinamide is extensively employed in a variety of processes carried out in pharmaceuticals, cosmeceuticals, animal nutrition, metal brighteners, and metal plating industries. Nicotinamide is used in pharmaceutical applications that are meant for maintaining healthy cholesterol levels and sound heart functioning in humans.
The increasing demand for nicotinic acid for use in various dietary supplements, food products, and pharmaceuticals is driving the global market for nicotinamide. Increasing incidence of coronary diseases and diabetes as well as decreasing nutritional value of food products demands for addition of nutritional value to dietary products. This is also a major reason for increased demand for nicotinamide. Threat from other organic chemicals, development of generic supplement ingredients, and fluctuations in prices of nicotinamide all over the world are major restraints for the nicotinamide market.
Developed regions such as North America and Europe witness the maximum consumption of nicotinamide. Industries such as pharmaceuticals, cosmetics, paints, and beverages are utilizing nicotinamide to improve the quality of their products. Southeast Asia is an expanding market for nicotinamide. The sub-region offers potential for growth of the nicotinamide market in Asia Pacific. Presently, China is the leading supplier of nicotinamide, followed by India and countries of North America and Europe.
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Key global players that produce nicotinamide are Jubilant Life Sciences, Yurigose, Zhejiang Lanbo Biotechnology, LONZA, Vertellus, Nantong Acetic Acid Chemical Co., Ltd., Henan Xinyi Medicine group Fine Chemical Industry Company Ltd., Shanghai Jinhuan Chemical, and Brother. Jubilant Life Sciences leads the market in Asia in terms of production of nicotinamide. Growth of food processing and supplements industries has propelled the global nicotinamide market. Increasing incidence of coronary diseases and diabetes would also lead to major consumption of nicotinamide.
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