Vitamin B12 Drops Market
Global vitamin B12 drops market is estimated to be valued at USD 141.5 Mn in 2024 and is expected to exhibit a CAGR of 7.8% during the forecast period (2024-2031). Vitamin B12 plays a key role in red blood cell formation, neurological function, and DNA synthesis. It helps prevent megaloblastic anemia which occurs due to improper cell division. With changing lifestyles and food habits, people are unable to obtain sufficient vitamin B12 through diet alone. Thus, vitamin B12 drops have emerged as a convenient means to meet daily requirements for this essential vitamin through supplementation. Vitamin B12 deficiency can lead to fatigue, weakness, constipation, loss of appetite and weight loss. Vitamin B12 drops provide an easy way to supplement this essential nutrient without the need for injections.
Market Dynamics
Global vitamin B12 drops market growth is driven by growing prevalence of vitamin B12 deficiency worldwide due to various factors such as poor absorption of nutrients in elderly population or lifestyle diseases like gastric bypass. Rising health consciousness and preference for dietary supplements for fulfilling nutritional gaps can also drive the market growth. However, lack of awareness in many developing nations can hamper the market growth. Emerging trend of vegan or plant-based diets that eliminate animal products can boost demand for vitamin B12 fortified products like drops. This presents an opportunity for market players to cater to this consumer segment through innovative product offerings.
Key features of the study
- This report provides in-depth analysis of the global vitamin B12 drops market, and provides market size (US$ 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 vitamin B12 drops 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 AdvaCare Pharma, BioCare Ltd., Vitboost, Triquetra, Carlyle Nutritionals, LLC, Ultra6 Nutrition, Go Nutrients, Klaire Labs, Bluebonnet Nutrition, PipingRock Health Products, LLC.
- 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 vitamin B12 drops 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 vitamin B12 drops market
Market Segmentation
Table of Contents
*Browse 36 market data tables and 32 figures on 'Vitamin B12 Drops Market' - Global forecast to 2031
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