Vitamin B12 Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sales Channel (Direct, Indirect), By End Use (Pharmaceutical, Animal Feed, Food & Beverages, Healthcare, Personal Care, Others), By Region and Competition, 2020-2030F

Market Overview

Global Vitamin B12 Market was valued at USD 165.09 Million in 2024 and is expected to reach USD 199.02 Million by 2030 with a CAGR of 2.58%. Vitamin B12, also known as cobalamin, plays a crucial role in nerve function, red blood cell formation, and DNA synthesis. Its deficiency has been linked to fatigue, anemia, and neurological disorders, prompting growing demand for supplementation across diverse population segments. Since Vitamin B12 is naturally found in animal-based foods, individuals following plant-based diets are more susceptible to deficiencies, resulting in a surge in demand for fortified foods and dietary supplements. Additionally, the aging global population and the associated rise in age-related absorption issues have intensified the need for B12-enriched products in clinical nutrition and elderly care.

In recent years, there has been a notable increase in the incorporation of Vitamin B12 in fortified foods such as breakfast cereals, plant-based milk alternatives, and energy drinks. This trend reflects a broader shift toward preventive healthcare and functional nutrition. Moreover, the pharmaceutical industry continues to explore therapeutic applications of B12 in treating cognitive decline, neuropathy, and fatigue-related conditions, thereby expanding the vitamin’s role beyond basic supplementation.

Key Market Drivers

Growth in Pharmaceutical Industry

The sustained growth of the pharmaceutical industry is a key driver propelling the expansion of the global Vitamin B12 market. Over the past two decades, the global pharmaceutical industry has experienced significant growth, achieving revenues of approximately USD 1.6 trillion by 2023. This expansion has elevated the industry's market size to a scale comparable with the GDPs of major economies including Spain, Mexico, and Australia. Vitamin B12, an essential nutrient involved in red blood cell formation, neurological function, and DNA synthesis, is increasingly incorporated into pharmaceutical formulations addressing a range of health conditions. As the pharmaceutical sector advances, it continues to create significant demand for high-quality Vitamin B12 supplements and therapeutics.

This growth is largely driven by rising awareness of Vitamin B12 deficiency, which is prevalent among specific population groups such as the elderly, vegetarians, and individuals with certain medical conditions affecting nutrient absorption. As the only Western-based manufacturer of vitamin B12 for the pharmaceutical industry, EUROAPI holds a vital position in maintaining global supply. The company’s production relies on a sophisticated fermentation process it pioneered in 1966. Vitamin B12, also known as cobalamin, supports critical biological functions such as DNA synthesis, red blood cell formation, and nervous system regulation. Pharmaceutical companies are responding by developing targeted Vitamin B12 products, including injectable formulations, oral tablets, and combination supplements, designed to meet diverse patient needs.

Growth in Food Industry

The expanding food industry is a pivotal driver fueling the growth of the global Vitamin B12 market. In 2025, the global food market is forecasted to reach USD 9.43 trillion in revenue. Within this market, the meat segment holds the largest share, with an estimated value of USD 1.55 trillion. As consumer demand for fortified and functional foods intensifies, food manufacturers are increasingly incorporating Vitamin B12 into a wide range of products to enhance their nutritional value and appeal to health-conscious consumers. This trend is particularly evident in sectors such as dairy, meat substitutes, cereals, and ready-to-eat meals, where Vitamin B12 fortification addresses common dietary deficiencies and supports overall wellness.

Heightened awareness regarding the essential role of Vitamin B12 in maintaining neurological function, red blood cell formation, and energy metabolism has led to greater demand for fortified food products. This demand is further amplified by the growing prevalence of vegetarianism and veganism, as plant-based diets often lack sufficient natural sources of Vitamin B12. Consequently, food manufacturers are innovating to develop fortified plant-based alternatives, thereby expanding the application of Vitamin B12 in the food sector.

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Key Market Challenges

High Production Costs

One of the significant challenges restraining the growth of the global Vitamin B12 market is the high cost associated with its production. The synthesis of Vitamin B12, particularly in its bioactive forms such as methylcobalamin and adenosylcobalamin, involves complex fermentation processes that require specialized microbial strains, stringent environmental controls, and sophisticated purification techniques. These requirements contribute to elevated operational costs, making large-scale production both technically demanding and capital-intensive.

Moreover, the manufacturing of Vitamin B12 is highly sensitive to variations in raw material quality and microbial performance, often resulting in inconsistent yields and wastage. Maintaining the stability and purity of the final product also requires investment in advanced technologies and rigorous quality assurance measures. These factors collectively drive up production expenses and limit the ability of manufacturers to achieve cost efficiencies, especially in regions with high labor and energy costs.

Key Market Trends

Expansion of Nutraceutical Applications

The expanding application of Vitamin B12 in the nutraceutical sector has emerged as a prominent trend shaping the growth trajectory of the global Vitamin B12 market. In 2020, the Union Minister of Chemicals and Fertilizers, India, introduced eight immunity-boosting products under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) for distribution through Janaushadhi Kendras nationwide. Among these was Jan Aushadhi Poshan, a malt-based nutritional supplement fortified with essential vitamins (A, D, E, C, B1, B2, B6, B12), iron, calcium, folic acid, and other nutrients to support immunity and healthy growth. It is designed for consumption with milk or water, either hot or cold. As consumers increasingly shift towards preventive healthcare and functional nutrition, nutraceutical products enriched with Vitamin B12 are gaining considerable traction. This trend is driven by the growing awareness of the vitamin’s role in supporting energy metabolism, cognitive performance, and nervous system health.

Vitamin B12 is widely recognized for its ability to combat fatigue, support mental clarity, and enhance overall vitality, making it a popular ingredient in dietary supplements, fortified beverages, and functional foods. The rising demand for health-enhancing products among health-conscious individuals, particularly in North America, Europe, and parts of Asia-Pacific, has encouraged manufacturers to expand their product portfolios with B12-enriched offerings.

Segmental Insights

Sales Channel Insights

Based on Sales Channel, Direct have emerged as the fastest growing segment in the Global Vitamin B12 Market in 2024. Direct supplementation offers precise dosing and immediate health benefits, making it the preferred choice for individuals seeking to address specific health concerns such as fatigue, anemia, and neurological disorders. Unlike fortified foods, which may offer variable nutrient content, direct forms of Vitamin B12 ensure controlled intake, allowing users to meet recommended dietary requirements with greater accuracy. The segment’s growth is also driven by advances in formulation technologies, including sublingual tablets, fast-dissolving strips, and sustained-release capsules, which enhance bioavailability and convenience.

End Use Insights

Based on End Use, Personal Care have emerged as the fastest growing segment in the Global Vitamin B12 Market during the forecast period. Consumers are becoming more aware of the role vitamins play in maintaining healthy skin and hair. Vitamin B12, known for supporting cell regeneration, improving skin texture, and reducing dryness and inflammation, is gaining traction as a desirable ingredient in topical personal care products. This growing consumer interest is driving demand for B12-enriched skincare and haircare formulations. Advances in cosmetic science and delivery technologies, such as microencapsulation and transdermal absorption enhancers, have enabled the effective incorporation of Vitamin B12 into topical applications.

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Regional Insights

Based on Region, North America have emerged as the dominating region in the Global Vitamin B12 Market in 2024. One of the key factors contributing to North America’s market leadership is the prevalence of plant-based and specialized diets, such as vegan and vegetarian lifestyles, which often lack adequate Vitamin B12. As a result, the demand for fortified foods and nutritional supplements has grown significantly. Moreover, the region has a large geriatric population that is more prone to B12 deficiencies due to age-related absorption issues, further reinforcing the need for supplementation. In addition, North America benefits from a highly developed retail and e-commerce ecosystem, enabling broad and convenient access to a wide variety of Vitamin B12 products.

Recent Development

• In September 2024, Expana announced the launch of comprehensive global market coverage for feed-grade vitamin B12 and choline chloride, extending across Asia, Europe, North America, and South America. Vitamin B12, also known as cobalamin, is essential for monogastric animals and is primarily produced through microbial fermentation combined with chemical processes involving potassium and sodium nitrite. It is commonly available in two concentrations: 1% for premix manufacturers and 0.1% for feed compounders. The 1% concentration is more widely used, as it is typically included in premixes rather than applied directly by feed mills. The pure form of the vitamin is generally procured by companies to formulate the 1% concentration.
• In 2024, AMSbiopharma, a provider of specialized analytical solutions for pharmaceutical quality control, announced the launch of a cutting-edge service for nitrosamine analysis in vitamin B12. This advanced service enhances quality assurance in the manufacturing of vitamin B12 drug substances. Given the chemical complexity of vitamin B12, which poses challenges for pharmaceutical analysis, AMSbiopharma has developed a proprietary UPLC-MS/MS method capable of detecting and quantifying eight genotoxic nitrosamines, addressing a critical industry need.
• In April 2025, scientists successfully bioengineered Spirulina to produce active vitamin B12 previously found only in animal products providing a sustainable, carbon-neutral alternative to meat and dairy. This breakthrough marks the first identification of biologically active vitamin B12 in Spirulina, representing a major advancement with significant global health implications. With over one billion people affected by vitamin B12 deficiency, and current primary sources limited to meat and dairy which carry considerable environmental impacts this innovation offers a plant-based solution that could help address B12 deficiency while reducing dependence on animal agriculture.
• In December 2024, researchers utilized vitamins to unravel complex interactions within the soil microbiome. Soil microbial communities are remarkably diverse, with up to 10,000 species present in just a single cup of soil. Scientists are actively studying how these microbiomes and their constituent species respond to environmental factors, as these interactions significantly influence soil composition and properties. In two recent publications, researchers explored how different microbial species interact and share resources, specifically focusing on corrinoids, a family of nutrients related to vitamin B12.

Key Market Players

• Hebei Yuxing Bio-Engineering Co., Ltd.
• Hebei Huarong Pharmaceutical Co., Ltd
• North China Pharmaceutical Group Corp. (NCPC)
• Ningxia Kingvit Pharmaceutical CO.,LTD
• Euroapi
• DSM

Report Scope

In this report, the Global Vitamin B12 Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vitamin B12 Market, By Sales Channel:

o   Direct

o   Indirect

• Vitamin B12 Market, By End Use:

o   Pharmaceutical

o   Animal Feed

o   Food & Beverages

o   Healthcare

o   Personal Care

o   Others

• Vitamin B12 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 Vitamin B12 Market.

Available Customizations:

Global Vitamin B12 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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