Niacinamide Market – Increasing Use in Skin Care Cosmetics is expected to Lead the Market Growth – Growing at a CAGR (Compound Annual Growth Rate) 4.1% from 2022 to 2028

Niacinamide
  • Niacinamide Market

As stated in our extensive report; the Global Niacinamide Market accounted forUSD 523.1 Millionin 2021.

The growing usage of Niacinamide in skin care cosmetics, along with its mounting awareness among people regarding the consumption of healthy food supplements is driving the overall market sales of Niacinamide.

Niacinamide, commonly known as nicotinamide, is the active form of vitamin B and provides multiple advantages in skincare by acting as a powerful conditioning ingredient in skincare & haircare products. Generally, it slows the production of prostaglandins and decreases the enzyme level, degrading the extracellular matrix while growing the level of collagen.Let’s discuss the major reasons for the growth of the Niacinamide Market.

Key factors influencing Niacinamide Market Growth

The growth of the Global Niacinamide Market can be attributable to the following:

i. Various factors, such as the rise in demand for the product owing to its health advantages such as maintaining cholesterol levels and vitamin B3 levels in the body, the growth in research and development activities, the development of the cosmetics and healthcare industries, and enhancing the energy metabolism are expected to drive the growth of the Niacinamide Market in the coming years.

ii. Niacinamide is widely utilized in treating autoimmune skin ailments like localized bullous pemphigoid and dermatitis herpetiformis.

iii. Increasing granular Niacinamide in producing vitamin B3 nutritional supplements like tablets and hard shell capsules, animal feed fortification, and cosmetics are also driving market growth in the forecast period.

iv. Rising investment in accelerating Research and Development (R&D) activities and the usage of Niacinamide as an adjunct in dermatological disease treatment and as topical & oral drugs with unfavorable effects are some other aspects that are contributing to the market revenue in the future.

On the other hand, side effects of Niacinamide like itching, rash, allergic reaction, and upset stomach or gas might hinder the market's growth to a certain level.

North America Region to Lead the Market

North Americais accounted for the largest market share in theNiacinamide Market and will likely continue during the forecast period. The growing utilization of Niacinamide in cosmetic products, dietary & bakery products, and multivitamin supplements drive the market expansion in this region. In addition, the established healthcare infrastructure and the leading pharmaceutical & cosmetic players will also support the market growth in this region. The availability of a wide-ranging range of products is also likely to fuel the regional market growth in the future.

Conclusion

As per our latest report on the Niacinamide Market, the growing government's initiatives for spreading awareness relating to the benefits provided by Niacinamide will influence the Global Niacinamide market positively.

Notable and prominent players in the Global Niacinamide Market include- Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, Lasons India and others.