In 2020, the global Riboflavin (Vitamin B2) market size showed significant strength and is expected to maintain a steady revenue CAGR over the forecast period. The growth of the market is being driven by various factors, including increasing disposable income, rising health awareness, growing investments in research and development activities, and increasing healthcare spending.
Riboflavin, which is also known as vitamin B2 or lactoflavin, is a crucial vitamin required for maintaining good health. It can be found in a variety of foods, including leafy greens, eggs, milk and milk products, lean meat, legumes, almonds, mushrooms, and more. Riboflavin is a water-soluble vitamin that plays an essential role in cell growth, development, and function.
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Top Companies Operating in the Global Riboflavin (Vitamin B2) Market Report:
- BASF
- Desano
- DSM
- Hebei Shengxue Dacheng
- Hubei Guangji Pharmaceutical
- Ningxia Qiyuan Pharma
- Shandong NB Group
Major Driving Factors of Riboflavin (Vitamin B2) Market
- Rising disposable income: As disposable income increases, consumers are becoming more health-conscious and are willing to spend more on nutritional supplements, including Riboflavin.
- Increasing health awareness: People are becoming more aware of the importance of maintaining a healthy lifestyle and are seeking nutritional supplements like Riboflavin to support their overall health.
- Rising investments in research and development activities: As the demand for Riboflavin increases, companies are investing more in research and development activities to improve the quality of their products and meet the evolving needs of consumers.
- Increasing healthcare spending: Governments and private organizations are increasing their spending on healthcare, including preventive measures such as nutritional supplements, driving the demand for Riboflavin.
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The global Riboflavin (Vitamin B2) market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
By Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Feed Grade
- Food Grade
- Pharma Grade
By End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Animal Feeding
- Food Additives
- Health Supplements
- Pharma
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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