Global Niacinamide Market Size was USD 1.10 Billion in 2022
Niacinamide is a type of vitamin B3 that is used in various industries, including human and animal nutrition, pharmaceuticals, cosmeceuticals, and others. The Niacinamide market is segmented based on its type, such as powder, granular, and liquid, and its application. The market players include Lonza Group AG, Koninklijke DSM, Bactolac Pharmaceutical Inc, Merck KGaA, BASF SE, Foodchem International Corporation, Evonik Industries AG, Jubilant Life Sciences Limited, Vertellus Specialties Inc, Fagron NV, Zhejiang NHU Company Ltd, and Brother Enterprises Holding Co., Ltd. Niacinamide is widely used in the treatment of skin-related problems such as acne, pigmentation, and aging. The regulatory and legal factors specific to market conditions include the Food and Drug Administration (FDA) approval, certification of the product, patent rights, and other regulations imposed by the governing authorities. The North American, Asia Pacific, Middle East, Africa, Australia, and Europe regions are the key geographic areas where the Niacinamide market is growing rapidly. The presence of a large number of market players and the increasing demand for Niacinamide across various industries are the major factors driving the growth of this market.