RIBOFLAVIN MARKET ANALYSIS
Key Takeaways from Analyst
Global riboflavin market growth is driven by increasing demand for riboflavin from key end-use industries such as pharmaceutical, food and beverage. Rising health consciousness among individuals boosts consumption of riboflavin rich foods and supplements. Growing vegan population has amplified the demand for riboflavin due to its high occurrence in animal-based foods.
Unstable prices of raw materials can hamper the market growth. Strict regulations regarding addition of riboflavin as a nutrient in food products can pose challenge for manufacturers. Easy availability of substitutes such as vitamin B2, riboflavin-5-phosphate can also limit the usage of riboflavin in certain applications.
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