Vitamin B6 is a water-soluble vitamin necessary for processing amino acids in the body, which form the building blocks of proteins and some hormones. It is involved in red blood cell metabolism, proper functioning of the nervous and immune systems and various other bodily functions. With the food sources include poultry, fish, potatoes, chickpeas and bananas, Vitamin B-6 (pyridoxine) is important for normal brain development and for keeping the nervous system and immune system health.
Increasing the amount of vitamin B6 in feed can enhance animal immunity and anti-stress ability. Vitamins are organic substances that are indispensable to the normal metabolic processes of animals. In most cases, the animal organism itself is not able to synthesize vitamins. Vitamin feed additives in premixes, mixtures and feeds are used to treat diseases caused by pyridoxine hydrochloride deficiency, and have the effect of enhancing the physical fitness of livestock and poultry and improving the growth of livestock and poultry. Pharmaceutical grade vitamin B6 is very pure and can be used for injection because it has less impurities. Vitamin B6 pharmaceutical grade is used for dermatitis and peripheral neuritis. In clinical treatment of vitamin B6 and niacin or niacinamide deficiencies, vitamin B6 is often used together to improve the efficacy. In addition, vitamin B6 preparations are clinically used to prevent and treat pregnancy vomiting and radiation sickness vomiting. Vitamin B6 is a nutrient in the vitamin B complex that the body needs in small amounts to function and stay healthy. Vitamin B6 helps keep nerves and skin healthy, fight infections, keep blood sugar levels normal, produce red blood cells, and some enzymes work properly. Not enough vitamin B6 can cause mouth and tongue sores and nervous disorders. Vitamin B6, along with the other B vitamins, helps the body turn food into energy. On its own, vitamin B6 has many other uses that are important to maintaining a healthy body and developing a healthy brain. In 2019, the market share of these three types of vitamin B6 was 51.83%, 33.82% and 14.36% respectively.
Vitamin B6 has a wide range of downstream applications. In recent years, its importance in various fields such as animal nutrition, food and beverage industry, and pharmaceutical industry has become increasingly prominent. Animal nutrition is the largest application field. In 2019, the market share of these three application was 51.83%, 15.68%, and 26.34%.
The Current Situation of Vitamin B6 Industry Market
Asia Pacific was the largest revenue market with a market share of 42.71% in 2015 and 45.68% in 2019, an increase of 2.97%. In 2019, the Europe market share was 24.38%, ranking second. In addition, India Vitamin B6 market is expected to be the growing market. Development of economy, increase downstream demand, technology innovation progress in these areas will promote the Vitamin B6 market. Vitamin B6 companies are mainly from China; the industry concentrate rate is very high. The top three companies are Tianxin Pharmaceutical, DSM, Xinfa Pharmaceutical with the revenue market share of 57.57%, 18.02%, 6.33% in 2019.
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With the economic growth, scientific and technological progress, and improvement of health awareness and medical level in India, there is a growing demand for Vitamin B6. India is a country with a global population second only to China, which has great downstream demand. The penetration rate of Vitamin B6 in India is relatively low. It is expected that with the economic development and the popularity of Vitamin B6 in the Indian market in the future, the entire market will maintain rapid growth for a long time. What is more, the manufacturing sector has evolved from its earlier stages of industrialization to its current phase of global competitiveness in India, making it a great location for newer, smaller businesses to manufacture, which brings a great market potential for Vitamin B6 in this area. Besides, factory wages of India are the lowest among Mexico, Philippines, Vietnam, Indonesia, and China. The cost to manufacture in India is often lower compared to other Asian manufacturing industries due to largely lower worker wages, which reduces manufacturing costs for manufacturers. This attracts more and more large enterprises entering the India market and Brings opportunity to the development of the Vitamin B6 industry. At the same time, the rapid development of the Animal Nutrition, Food & Beverage Industry and pharmaceutical industry in the India region also means that Vitamin B6 has a large market potential in the India region.
Global Vitamin B6 Industry Development Forecast
As one of the essential trace elements of human body, vitamin B6 has many functions and benefits, which is very helpful for maintaining physical health. The benefits of vitamin B6 itself have promoted consumption and demand, and have a beneficial impact on the development of the industry. Conversely, too much vitamin B6 taken from supplements can lead to nerve damage in the arms and legs. Prolonged intake of daily doses of 500 mg and more may cause damage to the sensory nerves. Tolerable upper intake level to avoid adverse effects, health authorities in Europe and the U.S. have set tolerable upper intake levels for vitamin B6. Excessive intake of vitamin b6 may cause side effects, which hinders consumption to some extent and restricts industry development.
The Vitamin B6 industry has higher barriers to entry. The first is technical barriers. Vitamin B6 production involves complex processes. The process was originally monopolized by the Vitamin B6 giant companies. It is difficult for companies that do not master the technology to fully replicate the production lines and process parameters of existing Vitamin B6 manufacturers, and it is difficult to obtain key intermediates for preparing Vitamin B6s. The second is the capital barrier. The Vitamin B6 industry is a typical capital-intensive industry. Enterprises without strong capital strength cannot enter the Vitamin B6 industry, and even if they enter, they cannot form an effective scale effect. The third is exit cost barriers. Vitamin B6 synthesis routes is long and the equipment is mostly dedicated, the exit cost is high, The fourth is brand barriers, in order to ensure product quality, enterprises in various manufacturing industries generally choose excellent brand products in the Vitamin B6 industry, and establish long-term relationships with superior manufacturers in the Vitamin B6 industry, Stable cooperative relationship. Therefore, it is often difficult for non-industry companies to enter the Vitamin B6 industry, and various varieties basically present an oligopoly pattern, and the industry concentration is relatively high. All these factors will hinder the development of this industry.
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