The global thiamine Mononitrate [vitamin B1] market is expected to reach USD 778.9 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of thiamine mononitrate [vitamin B1], a water-soluble vitamin needed to process carbohydrates, fat, and protein.
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Leading Players Profiled in the Report Include:
BASF SE, DSM Nutritional Products AG, Tianjin Golden World Group, Xinfa Pharmaceutical, Huazhong Pharmaceutical, Brother Enterprises Holdings Co. Ltd., Jiangsu Jubang Pharmaceutical Co. Ltd., Jiangxi Tianxin Pharmaceutical Co., Ltd., Tianjin Zhongjin Pharmaceutical Co., Ltd., and Zhejiang Tianxin, among others.
Thiamine mononitrate [vitamin B1] helps in enhancing the body immunity. It is beneficial in improving the health of the skin, eyes, hair, and liver, along with the prevention of complications in the nervous system, stomach, muscles, and heart, among others. It is required by the body to maintain the proper flow of electrolytes into and out of nerve and muscle cells. Moreover, it aids in preventing several disorders, including beriberi, which involves the nerves, heart, and digestive system.
Rising geriatric population is likely to boost the growth of the thiamine mononitrate [vitamin B1] market in the upcoming years. Diets of the aged people are often high in carbohydrates, which surges the need for thiamine mononitrate [vitamin B1]. As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with a significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050.
Further key findings from the report suggest
By grade, the feed grade thiamine mononitrate [vitamin B1] held a substantial market size in 2018. Feed grade product is required to cater to the requirements of the animal and several changes arising from causes, including genetic lines, the effect of changing seasons, and different animal physiologies, among others.
By distribution channel, the offline distribution channel contributed to the largest market share in 2018 and is expected to grow at a rate of 3.4% in the forecast period. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
By application, food & beverage contributed to the largest market share in 2018 and is estimated to grow at a rate of 4.1% in the forecast period.
The market in the Asia Pacific region held the largest market share in 2018 and is projected to grow at a rate of 4.9% in the forecast period. Growing inclination towards a healthy lifestyle, growing population, and a rise in the level of disposable income are among the factors that drive the growth of the market in the region.
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For the purpose of this report, Reports and Data have segmented the global thiamine mononitrate [vitamin B1] market on the basis of grade, distribution channel, application, and region:
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Thiamine Mononitrate [Vitamin B1] Segmentation & Impact Analysis
4.1. Thiamine Mononitrate [Vitamin B1] Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
About Reports and Data
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