PANTOTHENIC ACID MARKET ANALYSIS

Pantothenic Acid Market Size and Trends

Pantothenic acid market is estimated to be valued at USD 480.5 Mn in 2024 and is expected to reach USD 770.3 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031.

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There has been huge demand for pantothenic acid due to its wide applications in industries like food & beverages, pharmaceutical, and cosmetics. It is widely used as a nutrient and supplement in various food products such as energy drinks, nutritional supplements, and infant formula. Rising health consciousness among individuals has boosted the consumption of dietary supplements containing pantothenic acid. Growing personal care and cosmetics industry can also drive the growth of the market as it is used in anti-aging creams and moisturizers. Growing vegan population has also boosted demand for pantothenic acid supplements. Increasing cognizance about the benefits of pantothenic acid in maintaining overall health and well-being can offer lucrative opportunities for this market over the forecast period.

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Insights, By Form- Market Overview of Pantothenic Acid in Powder Form

In terms of form, powder segment is estimated to contribute the highest market share of 60.2% in 2024, owing to its easy consumption options. Powder forms of pantothenic acid can easily be added to drinks, smoothies, and various food recipes providing the convenience of consumption. Powder dissolves readily than tablet or capsule, which makes absorption easier. This is beneficial for individuals who have difficulty in swallowing tablets. Furthermore, powder is affordable to manufacture and transport as compared to bulkier capsule or tablet form. This provides powder form a cost advantage over other forms.

Insights, By Nature- Consumer Preferences and Health Consciousness

In terms of nature, plants segment is estimated to contribute the highest market share of 36.20% in 2024, due to consumer preference for natural sources. Many health-conscious consumers desire plant-based pantothenic acid due to the perception of greater safety associated with natural substances. Plants are seen as more sustainable and environment-friendly sources in comparison to animal sources. Furthermore, plant-based pantothenic acid is considered suitable for vegans and vegetarians who avoid consumption of animal products. This widespread acceptance and demand for natural plant sources can drive the plants segment growth.

Insights, By End-use Industry- Pharmaceuticals' Medical Value

In terms of End-use Industry, pharmaceuticals segment is estimated to contribute the highest market share of 26.30% in 2024, due to pantothenic acid's clinical benefits. It plays a key role in various biochemical reactions in human body, and deficiency can cause health issues. Therefore, pantothenic acid has applications in the treatment of conditions like fatigue, stress, depression, ketosis, and others. Clinical studies have demonstrated its efficacy as supportive therapy. Growing healthcare needs and costs have boosted demand from pharmaceutical companies. Increasing health awareness among consumers regarding nutritional supplementation in daily diet can drive the segment growth.

Regional Insights

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Regional Analysis- Pantothenic Acid Market

Dominating Region- Asia Pacific

The Asia Pacific region is projected to lead the pantothenic acid market, capturing an estimated 42.8% share in 2024, fueled by a robust dietary supplement industry and heightened consumer awareness. Key players in this area have built their reputations through innovative product developments and strategic expansions across various countries. Additionally, supportive government policies that favor the natural ingredients sector are likely to further stimulate market growth.

Fastest-Growing Region- North America

The North America region is experiencing rapid growth driven by increasing health awareness among consumers and rising disposable incomes in emerging markets. A large population and a transition towards preventive healthcare are enhancing the adoption of pantothenic acid across various sectors.

Pantothenic Acid Market Outlook for Key Countries

U.S. - The U.S. market is characterized by a high level of unmet demand for premium health products. Leading players' innovation-driven business tactics can help them spread their franchise across the country.

China - China market have opportunity to expanded significantly over the past decade, due to the expanding middle-class consumer group and burgeoning e-commerce platforms.

Japan - Japan market leads in East Asia with a well-established dietary ingredients industry and focus on functional food items.

India - The potential for India market remains largely unexploited. However, Indian companies are beginning to introduce innovative local solutions to establish a presence in the market, especially in response to rapid urbanization.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Pantothenic Acid Market Players

• Established Players: These companies often focus on extensive research and development to enhance product quality and efficacy. They invest in robust supply chains and strategic partnerships to ensure consistent availability and distribution. Additionally, they engage in aggressive marketing campaigns to strengthen brand recognition.
• Mid-Level Companies: Mid-tier firms typically target niche markets by offering specialized formulations, such as vegan or organic pantothenic acid products. They often utilize e-commerce platforms to reach consumers directly, enhancing accessibility and customer engagement.
• Small-Scale Manufacturers: Small businesses usually emphasize sustainable sourcing and production methods to cater to health-conscious consumers. They leverage social media and community outreach to build brand loyalty and raise awareness. Collaborations with local health influencers can also help them penetrate the market effectively.

Emerging Startups in the Pantothenic Acid Market

Innovative Technologies-

SynBio Technologies has developed a patented fermentation process to bio-produce pantothenic acid using non-pathogenic microbes. This ensures a sustainable supply of the vitamin and removes dependence on chemical synthesis. The technology could lower production costs and prices over the long run.

Sustainable Solutions-

Companies like Anthropic focuses on more environmentally friendly approaches. For example, the startup produces pantothenic acid using byproducts from the food industry that would otherwise become waste. This circular production method helps reduce agricultural waste and lower the industry's carbon footprint.

Pantothenic Acid Industry News

• In March 2023, The Coca-Cola Company launched two new products in its Zero Sugar range. "Forever You" is a newly crafted flavor featuring a tropical blend of coconut and lime, enriched with white curcumin. It also contains vitamin C, an antioxidant, along with 30% of vitamins A and E. Additionally, it includes essential B vitamins such as B3, B5, B6, and B12. The launch of these new flavors demonstrated the company's dedication to improving the nutritional value of its goods while also providing customers with a variety of taste alternatives. The Coca-Cola Company primarily manufactures, sells, and markets a wide range of non-alcoholic beverages, including its flagship product, Coca-Cola. The company operates as a "total beverage company," offering over 200 brands across various categories such as soft drinks, water, coffee, tea, and juices.
• In August 2022, four items in the NEW No7 menopause skincare line, which addresses common skincare issues during menopause, were launched by No7, the top skincare brand in the U.K. The line included vitamins E, C, and B5, as well as a strong multi-vitamin/antioxidant combination that included components like green tea. This was created with menopause-specific skincare needs in mind, demonstrating the brand's dedication to offering practical answers for a range of skin care issues.

Key Takeaways from Analyst

• Increasing demand for dietary supplements and functional foods across the world can boost demand for pantothenic acid. Rising health consciousness among people due to growing obesity and chronic disease rates prompt consumers to include more nutritional supplements in their diets. This growing concern for health and wellness offers significant opportunities for pantothenic acid producers.
• Asia Pacific dominates the market due to high dietary supplement consumption in China. However, North America region is likely to emerge as the fastest growing market due to rising living standards and sizeable middle-class populations in countries like U.S. & Canada. Stringent regulations regarding the use of chemical additives in food and feed products can pose challenges for market players. High dependence on China for raw material supply can impact production if there are any trade restrictions imposed.

Market Report Scope

Market Dynamics

Market Driver- Health benefits of pantothenic acid

Pantothenic acid, also known as vitamin B5, plays an important role in human health as it is involved in various metabolic functions within our body. It helps convert food into energy and is essential for the synthesis of hormones and cholesterol, hemoglobin formation and nerve transmission. A lack of pantothenic acid can cause fatigue, irritability, and stress, as this vitamin is essential for the production of acetylcholine—a neurotransmitter that regulates many vital bodily functions. This concern is heightened by the increasing global prevalence of non-communicable diseases such as diabetes. According to data released by the World Health Organization in April 2023, a growing number of consumers are anticipated to seek out supplements that contain pantothenic acid to aid in blood glucose management and enhance metabolic health. It also aids in the absorption of essential minerals like iron, calcium, and magnesium. Since pantothenic acid is necessary for cholesterol synthesis, it plays a supporting role in maintaining healthy cortisol and sex hormone production.

Market Challenge- Lack of awareness about pantothenic acid

While pantothenic acid is an essential vitamin that supports various metabolic activities in the human body, there has been general lack of awareness regarding it among consumers. In March 2021, a report from the National Institutes of Health (NIH) outlined that the Dietary Reference Intakes (DRIs) for pantothenic acid and other nutrients are established by the Food and Nutrition Board (FNB) at the National Academies of Sciences, Engineering, and Medicine. The Recommended Dietary Allowance (RDA) represents the average daily intake level necessary to satisfy the nutrient needs of nearly all (97%–98%) healthy individuals and is often utilized for planning nutritionally adequate diets. Majority of consumers remain unfamiliar with the dietary sources and health benefits of pantothenic acid. This lack of awareness poses challenge for this market as consumers may not actively seek pantothenic acid supplements or fortified products.

Market Opportunity- Untapped developing markets

Global pantothenic acid market can witness growth opportunities due to developing markets of the world. In developed regions such as North America and Western Europe, there are well-established consumer markets for various vitamins and supplements. However, emerging economies have seen limited penetration and awareness regarding these products. For instance, in 2021, as per the report published by NIH, countries in Asia Pacific like India, Indonesia, and Philippines currently have low pantothenic acid consumption levels as compared to developed nations. This region alone accounts for over 60% of the world's undernourished people, according to the UN Food and Agriculture Organization. As their standard of living enhances, there will be huge demand for pantothenic acid and other vital vitamins and minerals.

Market Segmentation

• By Form Insights (Revenue, USD, 2019 - 2031)
• • Powder
  • Tablet
  • Capsule
• By Nature Insights (Revenue, USD, 2019 - 2031)
• • Plants
  • Animals
  • Others
• By End-use Industry Insights (Revenue, USD, 2019 - 2031)
• • Pharmaceuticals
  • Nutritional &Dietary Supplements
  • Animal Health & Nutrition
  • Infant Food & Supplements
  • Food & Beverages
• By Regional Insights (Revenue, USD, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Nutrina Co Inc.
  • Zhengzhou Sigma Chemical Co. Ltd.
  • Cayman Chemical
  • CHEM-BRIDGE Co. Ltd.
  • Foodchem International Corporation
  • Koninklijke DSM N.V.
  • RxList Inc.
  • NOW Health Group Inc.
  • BASF SE
  • AccuStandard Inc.