Global Vitamin B12 Market Trends and Forecast: Market Size is Estimated to Hit $348.73 million by 2029

Global Vitamin B12 Market Overview

According to Global Market Monitor, the global Vitamin B12market size will reach $257.02 million in 2024 and is expected to grow to $348.73 million by 2029.

Vitamin B12, also called cobalamin, is a water-soluble vitamin that is involved in the metabolism of every cell of the human body: it is a cofactor in DNA synthesis and both fatty acid and amino acid metabolism. It is particularly important in the normal functioning of the nervous system via its role in the synthesis of myelin and in the maturation of developing red blood cells in the bone marrow.

Advantages of Vitamin B12

Lack of vitamin B12 can lead to a decrease in DNA synthesis, a decrease in mitotic rate, delay or even disrupt the differentiation of normal cells, especially bone marrow cells and mucosal cells, and form abnormal giant cells, thereby forming megaloblastic anemia. It can help treat megaloblastic anemia and anemia caused by drug poisoning and be used as an adjunct to depression and the prevention of Alzheimer's disease. Vitamin B12 can promote animal protein utilization and individual growth. For the culture of fish, vitamin B12 helps fish to resist the heavy metals and related toxic components in water, reducing the mortality of fry. In addition to medical and feed uses, it has important applications in some industries, such as food coloring and indoor environmental protection of formaldehyde.

Over the years, the health and wellness industry has become a major lifestyle value for consumers, profoundly changing consumer behavior toward natural micronutrients. Due to its versatility and the ongoing clean-label trend, vitamin B12 is becoming increasingly popular in a variety of end-user industries, including cosmetics, dietary supplements, functional foods and beverages, and more.

The incidence of malnutrition and vitamin deficiencies among the world's young population has increased over the past few years, due to growing awareness of regular health screenings in developed countries. According to the National Institute for Health and Clinical Excellence (NICE), the prevalence of vitamin B12 deficiency in people under 60 is around 6%. According to the National Institutes of Health, the global prevalence of the general population is about 15%, and this factor is expected to increase the adoption of vitamin B12 supplements worldwide. However, people in emerging countries know little about the side effects of vitamin deficiency. A lack of understanding of the availability of vitamin supplements in these regions may hinder market growth in the coming years.

Hebei Yuxing Bio-Engineering, a joint-stock enterprise of China and Hong Kong is one of the major players operating in the Vitamin B12 market. It produces vitamin B12 series products, including cyanocobalamin, methyl cobalamin, food and feed grade vitamin B12 additives. The production capacity is 20 tons per year. With high starting point and investment, the company has introduced the most advanced production technology and equipment of vitamin B12 in the world, and is in the leading position in the same industry.

Company Name	Hebei Yuxing Bio-Engineering
E-mail Address	yangzhikun2008@hotmail.com
Established Time	2004
Plants Distribution	Asia
Sales Region	Worldwide

For more industry information, please refer to our latest released "2023 Global Vitamin B12 Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".