PANTOTHENIC ACID MARKET ANALYSIS

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.