Cyanocobalamin Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Cyanocobalamin is a synthetic form of vitamin B12, which is used to treat vitamin B12 deficiency. Vitamin B12 deficiency may occur in pernicious anemia, following surgical removal of the stomach, fish tapeworm, or bowel cancer. Growing veganism has uplifted the deficiency of certain vitamins such as vitamin B12 among vegan consumers. To overcome the deficit, cyanocobalamin is administered to fulfill the deficiency of Vitamin B12. The deficiency of vitamin B12 is because pure vegan products contain less amount of B12, making vegan people more susceptible to anemia as vitamin B12 helps in the maturation of the red blood cells in the bone marrow. Besides, cyanocobalamin is used to fortify various food and beverage products as it is tasteless and odorless, and does not impact the previous taste and odor of the food products. It has also been suggested in diseases like Crohn's disease, where there is a subtle decrease in the blood's RBCs.

MARKET DYNAMICS

In the global cyanocobalamin market, cyanocobalamin demand is increasing among the vegan population and the patients suffering from anemic diseases. The rising prevalence of depression, paranoia, and memory loss is also propelling the demand for Vitamin B12. Also, the demand for cyanocobalamin is rising at the high growth rate in the food and beverage, nutraceutical, pharmaceutical, and dietary supplement industry. Fortified food is gaining more attention, creating enormous opportunities for the food manufacturer to add cyanocobalamin to their food products to cater to the demand for B12 among the vegan population. However, cyanocobalamin's high prices and high processing costs are restraining the market.

MARKET SCOPE

The "Global Cyanocobalamin Market Analysis to 2031" is a specialized and in-depth study of the food and beverage industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the cyanocobalamin market with detailed market segmentation by form, end use, and distribution channel. The global cyanocobalamin market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading cyanocobalamin market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global cyanocobalamin market is segmented into form, end use, and distribution channel. By form, the cyanocobalamin market is classified into Powder, Liquid, Capsule, Tablets. On the basis of end use, global cyanocobalamin market is segmented as Food industry, Nutraceuticals, Dietary Supplements, Pharmaceutical. By distribution channel, the cyanocobalamin market is classified into Supermarkets & Hypermarkets, Convenience Stores, Online Stores, Others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global cyanocobalamin market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The cyanocobalamin market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the cyanocobalamin market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the cyanocobalamin market in these regions.

MARKET PLAYERS

The reports cover vital developments in the cyanocobalamin market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from the cyanocobalamin market are anticipated to lucrative growth opportunities in the future with the rising demand for cyanocobalamin in the global market. Below mentioned is the list of few companies engaged in the cyanocobalamin market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the cyanocobalamin market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.

•   Koninklijke DSM N.V.
  
•   American Regent, Inc.
  
•   Johnlee Pharmaceuticals Pvt. Ltd.
  
•   WN Pharmaceuticals Ltd.
  
•   Natural Factors Nutritional Products Ltd.
  
•   Continental Vitamin Company
  
•   RPI
  
•   Nelon Pharmaceuticals Private Limited
  
•   NOW Foods
  
•   HBS Healthcare
  

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.

Cyanocobalamin Report Scope