The need for fortified foods and beverages is boosting the market for riboflavin. The Food Fortification Initiative estimates that 31% of the industrially milled wheat flour consumed worldwide is fortified. Iron, zinc, and the B vitamins folic acid, riboflavin, niacin, thiamin, vitamin B12, and vitamin B6 are the nutrients that are most frequently supplemented. Riboflavin's widespread use and multifaceted functionality are additional factors that are projected to support market expansion. The riboflavin/vitamin B2 has a wide range of uses, including the food processing business as well as the cosmetic, pharmaceutical, and animal feed industries.
The global Riboflavin Market was valued at US$ 397 Mn in 2021 and is forecast to reach a value of US$ 670.23 Mn by 2030 at a CAGR of 6.65% between 2022 and 2030.
Key Manufacturers in the Riboflavin Industry:
1. BASF SE
Founded in 1856 is a chemical manufacturing company that include the sectors materials, industrial solution, surface technology, Nutrition and agricultural solutions. Operational in more than 90 countries. Headquarters in Ludwigshafen, DE.
2. Koninklijke DSM N.V.
Koninklijke DSM N.V., a science-based company, engages in nutrition, health, and sustainable living businesses. The company was founded in 1902 and is headquartered in Heerlen, the Netherlands
3. Xinfa Pharmaceutical Co. Ltd
XINFA was founded in 1998. Their main products include: D-calcium pantothenate, Folic acid, Vitamin B1, Vitamin B6, Beta-alanine, D-panthenol, sucralose. The company has headquarters situated in Amsterdam, USA.
4. Hubei Guangji Pharmaceutical Co. Ltd
Hubei Guangji Pharmaceutical Co., Ltd. manufactures and sells pharmaceutical raw materials, medicinal feed additives, fine chemicals, and preparations in China. The company also exports its products to approximately 30 countries and regions worldwide. Hubei Guangji Pharmaceutical Co., Ltd. was founded in 1969 and is based in Wuxue, China. In June, 2019 Guangji Pharmaceutical Industry first "Qingtong Training Camp" training course officially opened! Wang Xukun, Deputy Secretary of the Party Committee (presiding over the work), chairman Anjing, Secretary of the Discipline Commission and chairman of the Board of Supervisors, gave excellent lectures to the students.
5. Hegno
Founded in 2002, Hegno is a high-tech company engaged in developing, manufacturing & marketing pharmaceutical and nutritional ingredients. Headquartered in Shanghai, China. The company is operational in more than 100 countries.
6. Legend Industries
Established in 2006, Manufacturer Of Riboflavin Sodium Phosphate, Ferrous Ascorbate, Magnesium Stearate, Sodium Ascorbate, Tolnaftate etc. It has headquarters situated in Ahmedabad, India.
7. Hebei Shengxue dacheng Pharmaceutical Co. Ltd
Started in 1997Hebei Shengxue Dacheng Pharmaceutical Co. Ltd. manufactures pharmaceuticals. The headquarter is located in National Bio-Industry Base－Shijiazhuang Luancheng Pharmaceutical Industry Park.
*Definition- A nutrient necessary for the body's metabolism is riboflavin. The metabolism of other nutrients can be hampered by this vitamin's deficiency.
