Global pantothenic acid market is estimated to witness high growth, owing to increasing consumer awareness towards functional nutraceuticals and growing demand for nutritional supplements
Global pantothenic acid market is estimated to be valued at USD 480.5 Mn in 2024, exhibiting a CAGR of 7% over the forecast period (2024-2031). Pantothenic acid or vitamin B5 finds widespread applications in nutritional supplement, feed additive, and functional food industries across the world. Furthermore, increasing consumer awareness about preventive healthcare and growing proclivity towards functional nutraceuticals can drive the market growth during the forecast period.
Market Dynamics-
Global pantothenic acid market growth is driven by increasing demand for nutritional supplements and growing consumption of functional food products. Rising health-conscious consumer base, increasing incidences of stress and lifestyle disorders have boosted demand for dietary supplements enriched with various vitamins and minerals globally. Pantothenic acid acts as a cofactor for synthesis and metabolism of fatty acids, sterols and acetylcholine neurotransmitter in the human body. It plays an important role in energy production and release from carbohydrates, proteins and fats. Thus, growing deficiencies of essential vitamins and minerals in modern lifestyles boosts its adoption and consumption through supplements.
Rising demand for dietary supplements can drive the pantothenic acid market growth
Global pantothenic acid market growth is driven by rising consumer awareness about the importance of maintaining proper nutrient levels in the body. Pantothenic acid also known as vitamin B5 helps in various metabolic functions such as production of hormones and cholesterol. Increasing health consciousness among people has boosted demand for dietary supplements containing essential vitamins and minerals. Pantothenic acid supplements are widely used for reducing stress, boosting energy levels and promoting overall wellness.
As people lead busier lifestyles with lesser time for proper nutrition, there has been huge dependence on dietary supplements as a health supplement. Aging population can also drive the market growth as older consumers are more inclined towards supplements to fulfill their dietary needs. Manufacturers are launching a variety of pantothenic acid infused supplements in different forms such as tablets, capsules and powders to cater to the diverse supplement demands. Growing health supplement industry offers immense opportunities for pantothenic acid suppliers and manufacturers to expand their business.
Increasing applications in animal feed additives can drive the market growth
Apart from human consumption, pantothenic acid is used as a vital nutrient in animal feed additives. It plays an important role in metabolism, hormonal regulation and energy yield for livestock and pets. Pantothenic acid is increasingly used in compound feed and premixes for cattle, poultry and aqua farming. It delivers improved growth performance, immune function and lactation in animals.
Global pantothenic acid market can witness growth due to rising meat consumption coupled with growing focus on animal welfare. Manufacturers are developing innovative delivery systems of pantothenic acid for improving the nutritional value and palatability of feed.
Production constraints due to complex manufacturing process
Pantothenic acid’s complex production process involving fermentation and chemical reactions poses major challenges for commercial manufacturing of pantothenic acid. It requires sophisticated technological expertise and facilities to extract the compound from natural sources or produce synthetically. Pure product yield rates are generally low, which increases the per unit production costs significantly.
Fluctuating raw material prices also impact the economical production of pantothenic acid. Dependence on few major suppliers for key raw materials makes the market susceptible to supply disruptions. These technical barriers restrict large scale capacity expansion by manufacturers. The end product prices have to be maintained at reasonably higher levels to achieve profitability amid high production costs. This can hamper widespread adoption of pantothenic acid.
Stringent regulatory standards can hamper the market growth
Being categorized as a dietary ingredient, pantothenic acid has to comply with strict regulatory guidelines set by authorities regarding production, packaging and labelling. Slight deviations from these quality and safety standards could lead to regulatory bans and product recalls. This extensive compliance process escalates overall operational costs.
Regulations differ widely across countries which complicate the international trade of pantothenic acid and associated products. New and frequent changes in regulatory policies also disrupt established supply chains. Complying with environmental norms pertaining to manufacturing waste disposal further increases compliance burden.
Rising demand for natural ingredients presents lucrative opportunities
With growing health and environment consciousness, natural and organic personal care and food products are gaining massive popularity worldwide. There has been huge demand for grooming products, cosmetics and supplements containing natural ingredients. Pantothenic acid obtained from natural sources such as yeast extract and vegetables provide tremendous opportunities for suppliers.
Manufacturers are investing in R&D to utilize underutilized natural sources of pantothenic acid and develop green extraction methods. Innovation of plant-based and herbal supplements containing natural pantothenic acid can attract health-conscious consumers. With sustainable production techniques, this presents lucrative avenues for long term revenue generation.
Increasing demand of infant nutrition products
Pantothenic acid plays a vital role in growth and development of infants. It supports immune function, metabolism and stress management in babies. Most infant formula products are fortified with pantothenic acid to meet the daily nutrition requirements.
Link: https://www.coherentmarketinsights.com/market-insight/pantothenic-acid-market-4815
Key Developments-
- In March 2023, The Coca-Cola Company expanded its Zero Sugar range by introducing two new beverages. Among them is "Forever You," which features a tropical mix of coconut and lime, enhanced with white curcumin. This drink is fortified with vitamin C, an antioxidant, and provides 30% of the daily recommended intake of vitamins A and E. It also includes essential B vitamins such as B3, B5, B6, and B12. The introduction of these flavors underscores Coca-Cola's dedication to enhancing the nutritional quality of its offerings while providing consumers with more diverse taste choices. As a "total beverage company," Coca-Cola produces, sells, and markets a wide array of non-alcoholic beverages, including its iconic Coca-Cola and over 200 other brands spanning categories like soft drinks, water, coffee, tea, and juices.
- In August 2022, No7, the leading skincare brand in the U.K., launched four products in its new menopause skincare line, which addresses common skin care concerns associated with menopause. This line features vitamins E, C, and B5, along with a powerful multi-vitamin and antioxidant blend that includes green tea. The development of this line underscores the brand's commitment to providing effective solutions for a variety of skincare issues specific to menopause.
Key Players
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, and AccuStandard Inc.
