Global Vitamin B6 (Pyridoxine Hydrochloride) Market is expected to grow at a CAGR of 4.3% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Vitamin B6 (Pyridoxine Hydrochloride) Market by Type (Feed Grade, Pharmaceuticals and Food Grade), Form (Capsules, Syrups, Cream, Tablets, Liquids, Injection and Others), Applications (Muscular Cramps, Menopausal Depression, Insomnia, Fatigue, Water Retention, Anaemia and Premenstrual Syndrome), End-User, Region, Global Forecast 2020-2027.
The global vitamin B6 (Pyridoxine Hydrochloride) market is expected to grow from USD 1.06 billion in 2019 to USD 1.48 billion by 2027, at a CAGR of 4.3% during the forecast period 2020-2027. Asia-Pacific as a region is projected to grow at a significant rate as the region is witnessing high market demand due to the growing health awareness. Also, the ever-increasing demand is equally balanced with the rise in the number of manufacturers. China has the maximum percentage of share in the region as they have efficient manufacturers.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the vitamin B6 (Pyridoxine Hydrochloride) market are Jiangxi Tianxin Pharmaceuticals Co. Ltd., Now Foods, BASF, Royal DSM, Shanghai Hegno Pharmaceutical Holding, Nanjing Pharmaceutical Factory Co. Ltd., Huazhong Pharmaceutical, Acebright Pharmaceuticals Group and others. Many manufacturers are investing to increase their capacity of production to cope up with the demand.
The type segment includes feed grade, pharmaceuticals and food grade. The pharmacy is the dominant sub-segment. It is expected to grow at a higher CAGR attributed to the extensive use in the production of medicines. The form segment includes capsules, syrups, cream, tablets, liquids, injection and others. Capsules attributes for the largest market share as they are readily available and are easy to use in comparison to other alternatives. The application segment includes muscular cramps, menopausal depression, insomnia, fatigue, water retention, anaemia and premenstrual syndrome. Out of which, anaemia is the dominant sub-segment. B6 is widely used for curing anaemic patients. The end-user segment includes animal nutrition, food and beverages, pharmaceuticals and other. The pharmaceutical industry contributes to the largest market share of the B6 market. The growing health awareness has increased the consumption of B6 as dietary supplements.
Vitamin B6 helps to strengthen the central nervous system. It is a water-soluble vitamin and is also partially soluble in ethanol which is why it has full applications. It does not stay in for long inside the body and is secreted by urine. So, it is essential to consume vitamin B6 every day. It helps in boosting the brain function as it helps in neuron transmission in the brain. It is also useful in reducing the impact of the air pollution. It is available naturally and can also be developed artificially. They are majorly found in cereals, vegetables, beans, egg, meat and liver. It is vital for the formulation of red blood cells. Also, it directs all the hormonal activities going on in a human body. The demand for vitamin B6 has been increasing as it provides many benefits. It is being used as a dietary supplement as people are getting health conscious and so demand for vitamin-enriched food is rising.
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About the report:
The global vitamin B6 (Pyridoxine Hydrochloride) market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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