Riboflavin Market
Global riboflavin market is estimated to be valued at USD 461.5 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. Riboflavin, also known as vitamin B2, is an essential nutrient required by the human body for growth and development. It plays a vital role in various metabolic processes through its involvement as a precursor for flavin mononucleotide and flavin adenine dinucleotide. As a water-soluble vitamin, riboflavin needs to be supplemented through diet. It is naturally present in a variety of foods including milk, eggs, meat, leafy green vegetables, mushrooms, and legumes. Deficiency of riboflavin can lead to health issues like cracks at the corners of the mouth, inflammation of the mouth, sore throat, itchy skin, and seborrheic dermatitis. Due to growing health awareness and increasing demand for nutritional supplements, global riboflavin can witness growth in the near future.
Market Dynamics-
Global riboflavin market growth is driven by factors such as increasing consumer preference for nutritional supplements, growing health consciousness, rising cases of riboflavin deficiencies, and expanding food & beverage industry. However, high costs associated with natural extraction of riboflavin from foods and synthetic production can hamper the market growth. Novel applications of riboflavin as an additive in pharmaceuticals, cosmetics and animal feed can present new avenues for market expansion. However, the market faces certain restraints due to presence of riboflavin in many routine foods. Strict regulatory norms governing dietary supplements can hamper the market growth. Increasing adoption of vegan and vegetarian diets as riboflavin intake can be challenging through a non-meat diet can offer growth opportunities. Product innovation leading to enhanced formulations presents another favorable growth prospect.
Key Features of the Study-
- This report provides in-depth analysis of the global riboflavin market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global riboflavin market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include BASF SE, Koninklijke DSM NV, Shanghai Acebright Pharmaceuticals Group Co. Ltd., Xinfa Pharmaceutical Co. Ltd, Hubei Guangji Pharmaceutical Co. Ltd, NB Group Co. Ltd, Hegno, Legend Industries, Hebei Shengxue dacheng Pharmaceutical Co. Ltd, Duchefa Biochemie, and Harman Finichem Ltd
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global riboflavin market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global riboflavin market
Market Segmentation
Market Segmentation
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize Now
Credibility and Certifications
860519526
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
