Vitamin B12, also known as cobalamin, is a water-soluble vitamin that helps keep the body's nerve and blood cells healthy.
Global Vitamin B12 Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Vitamin B12 market, which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
According to MarkNtel Advisors’ research report titled “Global Vitamin B12 Market Analysis, 2020”, the Global Vitamin B12 market is anticipated to grow at a significant rate during 2020-25F. Based on cyanocobalamin type, oral and injected captured the largest share in the Global Vitamin B12 market in 2019. The demand for injected vitamin B12 is likely to upsurge especially in the emerging countries such as India along with rising prevalence of pernicious anemia among the people. In addition, the intake of Cyanocobalamin oral has proliferated among pregnant women or nursing mothers to avoid spina bifida and other spinal and central nervous system birth defects in the baby. Therefore, these factors are projected to accelerate the demand for vitamin B12 in the forecast years.
Medical Treatment Acquired Substantial Market Share
Based on application, the demand of vitamin B12 has escalated in medical treatment in 2020 due to the outbreak of the novel COVID-19 in the world. The vitamin is used by the medical professional to boost immunity of the patient, enabling to their body to fight the virus. Moreover, the growing prevalence of the symptoms among people such as depression, disturbed vision, pernicious anemia, etc., have accelerated the need for the vitamin B12 for medical treatment.
Food additive market is also projected to grow at an exponential rate in the coming years. The rising health awareness among people, growing inclination toward the high rich vitamin B12 food items and elevating demand for fortified food product has boosted the demand for vitamin B12 in the food additive market. Thus, this is estimated to strongly contribute towards the growth of the Vitamin B12 market globally in the coming period as stated in the MarkNtel Advisors’ research report “Global Vitamin B12 Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Vitamin B12 market include Hebei Yufeng Group, Hebei Huarong Pharmaceutical, BASF Nutrition, Sanofi, NCPC VICTOR, Chempure, Hebei Yuxing Bio-Engineering Co. Ltd, Ningxia Kingvit Pharmaceutical etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Vitamin B12 Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Vitamin B12 Market during 2020-25?
A. The growth rate of Global Vitamin B12 Market during 2020-25 is forecast to be grow at a significant rate.
Q. Who are the key competitors or players operating in Global Vitamin B12 Market?
A. Hebei Yufeng Group, Hebei Huarong Pharmaceutical, BASF Nutrition, Sanofi, NCPC VICTOR, Chempure, Hebei Yuxing Bio-Engineering Co. Ltd, Ningxia Kingvit Pharmaceutical etc., are few of the leading players in the Global Vitamin B12 Market.
Q. Which application segment would emerge as an opportunity area for players in Global Vitamin B12 Market?
A. Medical treatment is expected to grow at a the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Vitamin B12 Market?
A. North America grabbed a highest market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Global Vitamin B12 Market.