Niacinamide Market Is Expected to Reach USD 832.4 Million by 2031, Says Allied Market Research

Allied Market Research
Allied Market Research

Rising number of this skin-related diseases made the researchers turn their focus toward niacinamide products, thus driving the growth of the global niacinamide market. Based on type, the liquid segment contributed to the highest market share in 2021. By region, on the other hand, Asia-Pacific would cite the fastest CAGR by 2031.

Portland, OR, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global niacinamide market was estimated at $546.08 million in 2021 and is expected to hit $832.4 million by 2031, registering a CAGR of 4.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2022­–2031

Base Year

2021

Market Size in 2021

$546.08 Million

Market Size in 2031

$832.4 Million

CAGR

4.3%

No. of Pages in Report

315

Segments Covered

Type, Application, Distribution Channel, and Region.

Drivers

Rising number of this skin related diseases made the researchers turn their focus toward niacinamide products

Opportunities

Shift to a healthier lifestyle

Impact of Covid-19 on Niacinamide Market-

  • The outbreak of the pandemic has changed nutrition pattern along with health-related behaviors of individuals across the world.

  • People have now started adopting healthy nutritional supplements to boost their immunity, which has had a sheer positive impact on the global niacinamide market.

The global niacinamide market is analyzed across Type, Application, Distribution Channel, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

Based on type, the liquid segment contributed to nearly half of the global niacinamide market revenue in 2021, and is expected to dominate by 2031. The same segment would also showcase the fastest CAGR of 5.0% throughout the forecast period.

Based on application, the cosmeceutical segment garnered nearly three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 4.8% throughout the forecast period.

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Based on distribution channel, the drug stores and retail pharmacies segment contributed to more than half of the global dicing tapes market revenue in 2021, and is expected to dominate by 2031. The online pharmacies segment, however, would showcase the fastest CAGR of 5.7% throughout the forecast period.

Based on region, the global niacinamide market across North America generated nearly two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 6.1% during the forecast period. The other provinces analyzed in the report include LAMEA and Europe.

The key market players analyzed in the global niacinamide market report include Evonik Industries AG, Fagron Inc, Glossier, Jubilant Life Sciences Limited, Koninklijke DSM N.V, Brother Enterprises Holding Co., Ltd, Vertellus, Lasons India Pvt Ltd, Lonza Group, Merck KGAA, Foodchem International Corporation, and Veer Chemie. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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