Nicotinamide Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sales Channel (Direct, Indirect), By End Use (Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, Animal Feed, Chemicals), By Region and Competition, 2020-2030F

Market Overview

Global Nicotinamide Market was valued at USD 624.74 Million in 2024 and is expected to reach USD 1095.34 Million by 2030 with a CAGR of 6.61% during the forecast period. Nicotinamide, also known as niacinamide, is a water-soluble form of vitamin B3 that plays a crucial role in metabolic processes and is widely used in both therapeutic and cosmetic applications due to its various health benefits. Its versatility and effectiveness make it a vital ingredient in a wide range of consumer products, positioning the nicotinamide market for continued expansion.

The pharmaceutical industry is one of the primary drivers of the nicotinamide market. Nicotinamide is used as an active ingredient in several medications, including those for treating conditions like pellagra, a disease caused by niacin deficiency, and skin disorders such as acne and rosacea. Furthermore, increasing awareness of the importance of skin health, especially in emerging markets, is driving the demand for nicotinamide-based products in the cosmetics and personal care sector. The ingredient's ability to reduce inflammation, regulate oil production, and improve skin elasticity has made it a popular component in anti-aging creams, moisturizers, and acne treatments.

Despite its positive outlook, the nicotinamide market faces some challenges. One of the primary concerns is the availability of raw materials. Nicotinamide is typically synthesized from nicotine, and fluctuations in the supply of precursor materials or production costs can impact market stability. Furthermore, while nicotinamide is generally regarded as safe, there is growing regulatory scrutiny over the safety and efficacy of its use in food and personal care products. Stringent regulatory requirements in different regions could limit market growth or result in higher compliance costs for manufacturers.

Key Market Drivers

Growth in Pharmaceutical Industry

The global nicotinamide market is experiencing significant growth, largely driven by the increasing demand from the pharmaceutical industry. The global healthcare industry generates annual revenues surpassing USD 4 trillion. Key sectors within the industry, such as pharmaceuticals and biotechnology, contribute nearly USD 850 billion, while medical technology and diagnostics generate over USD 400 billion in revenue. Nicotinamide, a form of vitamin B3 (niacin), plays a critical role in various therapeutic applications, making it a key component in pharmaceutical formulations. As the pharmaceutical sector continues to expand globally, the demand for nicotinamide has surged, particularly in areas related to skin care, anti-inflammatory treatments, and metabolic health.

One of the primary drivers of nicotinamide's growing demand in the pharmaceutical industry is its use in dermatological treatments. Zhejiang University has developed two new co-crystals of Ticagrelor with Nicotinamide, demonstrating enhanced solubility. Given that Ticagrelor suffers from poor solubility and dissolution rate, a novel co-crystallization method was employed, utilizing a structurally homogeneous crystalline material, an active pharmaceutical ingredient (API), and a co-former in an indefinite stoichiometric ratio to improve its solubility. The Ticagrelor-Nicotinamide (TICA-NCA) co-crystal was prepared in a 1:1 ratio and confirmed through FTIR, DSC, and XRD characterization techniques. Nicotinamide is widely recognized for its anti-inflammatory properties and its ability to improve skin barrier function. It is commonly used in the treatment of skin conditions such as acne, rosacea, and eczema. As the global population becomes more focused on skin health, the demand for topical products containing nicotinamide is on the rise. Additionally, nicotinamide's ability to reduce redness and irritation in skin care products has contributed to its increasing use in over-the-counter formulations and prescription-based treatments.

Growth in Food & Beverage Industry

The expansion of the global food and beverage industry has emerged as a significant driver of the nicotinamide market, as increasing consumer demand for fortified, functional, and health-conscious products has created new opportunities for this vital ingredient. Nicotinamide, a form of vitamin B3, is widely used in food and beverage formulations due to its essential role in promoting metabolic health, energy production, and skin health, making it a crucial additive in both nutritional supplements and fortified foods.

One of the primary drivers of nicotinamide's growth within the food and beverage sector is the rising consumer awareness around health and wellness. Following the EFSA opinion and its approval as a novel food, nicotinamide riboside chloride will be incorporated into Annex II of Regulation (EC) 1925/2006 as a form of niacin. As a result, a new entry for 'nicotinamide riboside chloride' has been added, and Regulation (EC) 1925/2006 has been amended accordingly. As more consumers seek foods and drinks that contribute to overall well-being, there is an increased demand for functional foods that offer additional health benefits. Nicotinamide, with its well-documented benefits in supporting metabolism, cardiovascular health, and skin appearance, has found its place in a range of products, including dietary supplements, energy drinks, fortified cereals, and health-focused beverages.

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Key Market Challenges

Fluctuating Raw Material Prices

Fluctuating raw material prices represent a significant challenge in the global nicotinamide market, impacting both production costs and overall market stability. Nicotinamide is primarily synthesized from nicotine, which is derived from natural sources such as tobacco. The prices of raw materials, including tobacco and other chemical precursors, can experience significant volatility due to supply chain disruptions, environmental factors, and geopolitical events.

These price fluctuations can lead to higher manufacturing costs, affecting the profitability of nicotinamide producers. Additionally, companies may face challenges in maintaining consistent pricing strategies, as raw material price increases are often passed on to consumers, potentially reducing demand for end products. The dependence on a few key raw materials, coupled with the pressure for sustainable and cost-effective production practices, means that manufacturers must continuously adapt to market conditions.

Key Market Trends

Growth in the Dietary Supplement Sector

The global nicotinamide market is experiencing a notable trend driven by the growth of the dietary supplement sector. Nicotinamide riboside (NR), a newly identified form of vitamin B3 and a precursor to nicotinamide adenine dinucleotide (NAD+), has demonstrated promising therapeutic potential. Beyond its established role in revitalizing aging cells in preclinical mouse models, NR is also being explored for its viability as a pharmaceutical compound. Nicotinamide, also known as niacinamide, is a form of vitamin B3 that plays an essential role in various metabolic processes within the body. As consumer awareness of health and wellness increases, the demand for dietary supplements containing nicotinamide has surged, contributing to the market's expansion. This trend is particularly evident in the growing interest in preventive healthcare, anti-aging supplements, and products designed to promote overall well-being.

One of the key factors behind this surge is the rising consumer focus on preventive health. As people become more proactive about maintaining their health, there has been a marked increase in the consumption of dietary supplements that support vital bodily functions. Nicotinamide, due to its potential to support cellular metabolism and promote energy production, has garnered attention in supplements targeting general health maintenance. Its role in supporting the body's ability to convert food into energy and maintain the health of the skin, digestive system, and nervous system is driving its integration into a wide range of products.

Segmental Insights

Sales Channel Insights

Based on Sales Channel, Direct have emerged as the fastest growing segment in the Global Nicotinamide Market in 2024. One of the key drivers behind the growth of direct applications is the rising global demand for nutraceuticals and functional foods. As consumers become more health-conscious and prioritize preventive healthcare, the need for dietary supplements and fortified food products containing essential vitamins and minerals, such as nicotinamide, has escalated. Nicotinamide, with its well-established benefits for metabolism, skin health, and overall wellness, is increasingly being incorporated into a wide range of consumer products. These include energy drinks, vitamin-enriched water, fortified cereals, and snack bars that offer added health benefits. Direct incorporation of nicotinamide into these products allows manufacturers to quickly meet consumer demand while maintaining high product efficacy and nutritional value.

End Use Insights

Based on End Use, Animal Feed have emerged as the fastest growing segment in the Global Nicotinamide Market during the forecast period. Nicotinamide (vitamin B3) plays a vital role in metabolic functions, energy production, and immune system support in animals. With increasing awareness of the importance of balanced nutrition in animal husbandry, feed manufacturers are incorporating nicotinamide to boost the overall health and productivity of livestock, poultry, and aquaculture species.

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Regional Insights

Based on Region, Asia Pacific have emerged as the dominating region in the Global Nicotinamide Market in 2024. This is due to a combination of robust industrial growth, increasing health awareness, and a rapidly expanding cosmetics and pharmaceutical sector. The region, particularly countries like China, India, Japan, and South Korea, benefits from a well-established chemical manufacturing infrastructure, enabling cost-effective and large-scale production of nicotinamide. This has made Asia Pacific a key supplier to both domestic and international markets.

Recent Development

• In June 2024, ChromaDex Corp., a global leader in nicotinamide adenine dinucleotide (NAD⁺) research and its role in healthy aging, announced the launch of Niagen+, the first pharmaceutical-grade formulation of its patented nicotinamide riboside chloride (NRC). Authorized by the U.S. FDA for compounding by 503B outsourcing facilities, this advanced NRC formulation will be available in intravenous (IV), injectable shot, and push forms exclusively through clinics with a prescription. With this development, ChromaDex is positioned to become the first U.S. company to offer its proprietary Niagen both as a globally distributed dietary supplement under the Tru Niagen brand and as a pharmaceutical-grade injectable product for clinical use.
• In December 2024, MIRAILAB INC. BIOSCIENCE Inc. launched its high-concentration “NMN Pure Series” under the “MIRAI LAB” brand in the United Arab Emirates. This β-Nicotinamide Mononucleotide (β-NMN) supplement, recognized for its anti-aging benefits, is now available in the UAE following successful market entry in Japan, China, the United States, and Singapore. The expansion highlights the rising global demand for NMN-based supplements, with the UAE representing a strategic growth market driven by a high-income consumer demographic.
• In June 2024, Syngenta’s nicotinamide-based insecticide, Flumetnicam, received provisional approval from the International Organization for Standardization (ISO) and is expected to receive formal approval following a six-month public consultation period. The compound, an active metabolite of Flumetnicam with insecticidal properties, has been incorporated into the residue definition for food safety purposes in both the United States and the European Union. Several agrochemical companies have filed for or secured patents related to the insecticidal composition of the compound, targeting pests such as mosquitoes, cotton aphids, whiteflies, and Nilaparvata lugens.
• In August 2024, Helsinki-based NADMED successfully closed a USD 3.97 million Series A funding round to support its expansion into the U.S. and other international markets. The funding will accelerate the global rollout of its proprietary nicotinamide adenine dinucleotide (NAD) measurement technology, designed to enable more precise and personalized disease treatments. The round was led by Nordic Science Investments (NSI), a Finnish investor focused on science-driven startups, with additional participation from existing backers Voima Ventures and University of Helsinki Funds, private European investors, and a grant from Business Finland.

Key Market Players

• Nebula Health Care
• Suchem Laboratory
• Western Drugs Limited
• Roopa industries limited
• S.V. Labs Pvt. Ltd.
• Veer Chemie & Aromatics pvt ltd.
• Optimus Drugs Pvt. Ltd
• NIGAM FINECHEM PVT. LTD
• Ishita Drugs & Industries Ltd
• Anhui Redpont Biotechnology Co., Ltd

Report Scope

In this report, the Global Nicotinamide Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Nicotinamide Market, By Sales Channel:

o   Direct

o   Indirect

• Nicotinamide Market, By End Use:

o   Pharmaceuticals

o   Cosmetics & Personal Care

o   Food & Beverages

o   Animal Feed

o   Chemicals

• Nicotinamide Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Nicotinamide Market.

Available Customizations:

Global Nicotinamide Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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