Newark, NJ, Feb. 01, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global calcium pantothenate market is expected to grow from USD 247.11 million in 2020 to USD 348.74 million by 2028, at a CAGR of 4.4% during the forecast period 2021-2028.
There are certain key factors that are driving the growth of the global calcium pantothenate market. Some of them include rising demand for nutraceuticals for healthy nerve & cell functioning, focus on preventing gastrointestinal & muscle coordination complexities, the rising popularity of veganism, and increasing consumer awareness about the health benefits of calcium D-pantothenate.
Calcium pantothenate is odorless, highly soluble in water, and bitter in taste. It is a salt that plays a vital role in the functioning of the nervous system and has been observed to enhance stamina, memory, and skin health. It is commercially sold as vitamin B5 supplements. It is broadly used in the cosmetics industry to treat skin conditions like acne. Europe is a major region of the global calcium pantothenate market. Nations like the United Kingdom, Germany, and Spain are seeing a growing client base owing to the expanding nutraceuticals penetration in the region.
With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the calcium pantothenate market. With less disposable income and broken supply chains, the market's growth is expected to slow down. Due to consumer preference for natural products, many people choose herbal supplements over calcium D-pantothenate supplements.
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Key players operating in the global calcium pantothenate market include Zhenjiang Gaopeng Pharmaceutical Co. Ltd., Shandong Hwatson Biochem, Alfa Aesar GmbH & Co KG., Shandong Xinhua Pharmaceutical Co. Ltd., Avnochem Limited, Yifan Pharmaceutical, Shandong Xinfa Pharmaceutical, BASF, and Hebei Jingye Group, among others. To gain a significant market share in the global calcium pantothenate market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Alfa Aesar GmbH & Co KG. and Zhenjiang Gaopeng Pharmaceutical Co. Ltd are some of the biggest manufacturers and suppliers of calcium pantothenate in the global market.
- For instance, SkinB5 Pty Ltd expanded its activities in New Zealand in 2017 by opening its subsidiary- Pharmaceutical Services Ltd. in the country. SkinB5 Pty Ltd is a health supplement provider that sells calcium pantothenate derived supplements for skin complexities.
Pharmaceutical grade dominated the market and held the largest market share of 59.2% in the year 2020
Based on grade, the global market has been divided into pharmaceutical grade and food grade. Pharmaceutical grade dominated the market and held the largest market share of 59.2% in the year 2020. Pharmaceutical grade refers to a supplement that has a purity of 99% or above of its active ingredient.
Powder segment leads the market and is forecasted to grow at a rate of 5.2% during the projected timeframe 2021-2028
The form segment has been categorized into capsule, liquid, powder, and tablet. The powder segment leads the market and is forecasted to grow at a rate of 5.2% during the projected timeframe 2021-2028. The primary reasons behind the high growth rate of this segment are the rising calcium D-pantothenate powder demand from athletes & bodybuilders and its mixability with drinks such as milk.
Online leads the market and is forecasted to grow at a rate of 5.7% during the projected timeframe 2021-2028
On the basis of sales channel, the calcium pantothenate market has been segmented into online and offline. The online segment leads the market and is forecasted to grow at a rate of 5.7% during the projected timeframe 2021-2028. The is due to the rising preference for online shopping among young people due to internet & smartphone penetration, a booming e-commerce sector, 24/7 availability of stock, convenience, quick home delivery, competitive pricing, and ease of shopping.
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Nutraceuticals & animal feed dominated the market and held the largest market share of 26.1% in the year 2020
The end-use segment includes nutraceuticals & animal feed, pharmaceutical, food & beverage, cosmetics & personal care, and others. The nutraceuticals & animal feed dominated the market and held the largest market share of 26.1% in the year 2020. Numerous health benefits of calcium pantothenate have been observed in people who partake in high performance and high demanding physical activities such as sports & bodybuilding.
Regional Segment Analysis of the Calcium Pantothenate Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global calcium pantothenate market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region accounted for the major market share of 37.4% in the year 2020 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the high penetration of calcium pantothenate based nutraceuticals and the high popularity of dietary & nutrient supplements in the region. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2021-2028. This growth is primarily due to the increasing demand for vegan health supplements because of a large vegetarian population in countries such as India and Nepal.
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About the report:
The global calcium pantothenate market is analyzed on the basis of value (USD Million), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an 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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