NEWARK, Del, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The global thiamine market is projected to reach a value of USD 1,238.2 million by 2024 and grow to USD 2,497 million by 2034. Sales are expected to increase at a CAGR of 7.3% during the forecast period from 2024 to 2034. In 2023, the market generated USD 1,166.2 million, with a forecasted year-over-year growth of 6.2% in 2024.
North America is poised to hold around 25% of the global market share, driven by the presence of well-established industries in the United States that utilize thiamine (vitamin B1). The steady growth and development of these sectors contribute to the sustained and rising demand for the micronutrient.
The robust food and beverage industry in the United States plays a significant role in driving high thiamine consumption. The Food and Drug Administration (FDA) requires the fortification of like bread and cereals with essential vitamins, including B1, to address nutritional deficiencies.
The United States has long recognized the importance of preventing vitamin B1 deficiency. Since the early 1940s, mandates have been in place requiring the fortification of bread and cereals with essential vitamins. According to a 2023 report from the United States Department of Agriculture, fortification of these staples accounts for more than 40% of the country’s total thiamine consumption.
Understanding the Thiamine Market
The thiamine market is experiencing significant growth, driven by increasing awareness of the importance of this essential nutrient in promoting health and preventing deficiencies. Thiamine, also known as vitamin B1, plays a crucial role in various bodily functions, including energy metabolism and nerve function. Key industries, particularly food and beverage, heavily influence thiamine consumption through the fortification of staple products like bread and cereals. Regulatory bodies, such as the FDA, mandate this fortification to combat nutritional deficiencies, underscoring the nutrient's vital role in public health. The demand for thiamine is further supported by ongoing research highlighting its benefits, as well as its incorporation into dietary supplements, contributing to its prominence in the market. With a strong foundation in established industries and a growing focus on health and nutrition, the thiamine market is well-positioned for continued expansion.
Market Value of Thiamine by Region
| Countries | CAGR 2024 to 2034 | |
| India | 13% | |
| China | 12.4% | |
| South Korea | 11.9% | |
| Northern Africa | 7.2% | |
| Japan | 6.9% | |
“The thiamine market is poised for growth, driven by increased awareness of its health benefits and regulatory support for fortification in food products. With rising consumer demand for essential nutrients, thiamine's importance in nutrition is more prominent than ever.” - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Prominent Drivers of the Thiamine Market
- Health Awareness: Increasing consumer awareness about the importance of thiamine for overall health and wellness.
- Regulatory Support: Mandates for fortification of staple foods by authorities like the FDA to combat nutritional deficiencies.
- Growing Food and Beverage Industry: High demand for thiamine in food products, particularly in processed and fortified items.
- Rising Nutritional Supplement Market: Increased consumption of dietary supplements containing thiamine as part of health and wellness trends.
- Research and Development: Ongoing studies highlighting the health benefits of thiamine, contributing to its growing popularity.
- Aging Population: Greater focus on nutrition among aging populations, leading to increased demand for essential vitamins like thiamine.
In-Depth Market Analysis: A Complete Report! https://www.futuremarketinsights.com/reports/thiamine-market
Challenges Faced by the Thiamine Market:
- Market Competition: Intense competition from alternative vitamins and supplements can hinder thiamine's market growth.
- Regulatory Hurdles: Variations in regulations across countries can complicate the fortification processes and market entry.
- Consumer Perception: Lack of awareness or misconceptions about the importance of thiamine compared to other vitamins may limit demand.
- Supply Chain Issues: Disruptions in the supply chain for raw materials can affect production and availability.
- Economic Factors: Economic downturns or fluctuations can lead to reduced spending on health supplements and fortified foods.
- Shelf Stability: Thiamine's sensitivity to heat and light may pose challenges for manufacturers in preserving its efficacy in products.
Leading Thiamine Companies
- DSM Nutritional Products
- BASF SE
- Lonza Group
- Archer Daniels Midland Company (ADM)
- Kemin Industries
- Nutraceutical International
- Nexira
- Glanbia Nutritionals
- Evonik Industries
- Nutritional Outlook
- Shandong Huarong Pharmaceutical
- Ningbo Cansun Pharmaceutical
- Hebei Yuxing Chemical
- Vitamins and Supplements Co.
- Alltech
- Shanghai Green Chemical
- Nanjing Zhengu Biochemical
- Tokyo Chemical Industry
- Jiangsu Boli Bioproducts
- Herbalife
Regional Analysis of the Thiamine Market:
- North America: Strong market presence due to stringent food fortification regulations and high consumer awareness of health benefits.
- Europe: Increasing focus on nutrition and health, with robust demand for fortified foods and dietary supplements driven by health-conscious consumers.
- Asia-Pacific: Rapid growth fueled by rising populations, urbanization, and increasing adoption of fortified food products in emerging economies.
- Latin America: Growing awareness of nutritional deficiencies and the importance of vitamins, leading to higher demand for thiamine in food products.
- Middle East and Africa: Emerging markets with increasing investment in food fortification initiatives and growing health awareness among consumers.
Key Segments of Market Report
By Product Type:
Mononitrate and hydrochloride are the two product types.
By End-use:
In terms of end-use, the industry is divided into food and beverages, animal feed, pharmaceuticals, and personal care. Food and beverages are further segregated into fortified cereals and nutritional supplements. The animal feed category is trifurcated into livestock feed, pet food, and aquaculture feed. The personal care segment is segregated into skincare and hair care.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, and the Middle East and Africa have been covered in the report.
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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한국어 번역-
글로벌 티아민 시장은 2024년까지 1,238.2백만 달러에 도달하고, 2034년까지 2,497백만 달러로 성장할 것으로 예상됩니다. 2024년부터 2034년까지의 예측 기간 동안 매출은 7.3%의 CAGR로 증가할 것으로 예상됩니다. 2023년에 시장은 1,166.2백만 달러를 창출했으며, 2024년에는 연간 성장률이 6.2%로 예측됩니다.
북미는 티아민(비타민 B1)을 활용하는 미국 내 잘 정립된 산업의 존재에 힘입어 글로벌 시장 점유율의 약 25%를 차지할 것으로 예상됩니다. 이러한 부문의 꾸준한 성장과 발전은 미량 영양소에 대한 지속적이고 증가하는 수요에 기여합니다.
미국의 강력한 식품 및 음료 산업은 높은 티아민 소비를 촉진하는 데 중요한 역할을 합니다. 식품의약국(FDA)은 영양 결핍을 해결하기 위해 빵과 시리얼과 같은 식품을 B1을 포함한 필수 비타민으로 강화하도록 요구합니다.
미국은 오랫동안 비타민 B1 결핍을 예방하는 것의 중요성을 인식해 왔습니다. 1940년대 초부터 빵과 시리얼을 필수 비타민으로 강화하도록 요구하는 명령이 시행되었습니다. 미국 농무부의 2023년 보고서에 따르면 이러한 필수 식품의 강화는 미국 전체 티아민 소비량의 40% 이상을 차지합니다.
티아민 시장 이해
티아민 시장은 건강을 증진하고 결핍을 예방하는 데 있어 이 필수 영양소의 중요성에 대한 인식이 높아짐에 따라 상당한 성장을 경험하고 있습니다. 비타민 B1이라고도 알려진 티아민은 에너지 대사와 신경 기능을 포함한 다양한 신체 기능에 중요한 역할을 합니다. 주요 산업, 특히 식품 및 음료는 빵과 시리얼과 같은 필수 제품의 강화를 통해 티아민 소비에 큰 영향을 미칩니다. FDA와 같은 규제 기관은 영양 결핍에 대처하기 위해 이러한 강화를 의무화하여 영양소가 공중 보건에서 중요한 역할을 한다는 점을 강조합니다. 티아민에 대한 수요는 티아민의 이점을 강조하는 지속적인 연구와 건강 보충제에 통합되어 시장에서 두드러지게 나타나는 데 기여함으로써 더욱 뒷받침됩니다. 확립된 산업에서 강력한 기반을 갖추고 건강과 영양에 대한 관심이 커지면서 티아민 시장은 지속적인 확장을 위한 좋은 위치에 있습니다.
티아민 시장의 주요 원동력
• 건강 인식: 전반적인 건강과 웰빙에 티아민의 중요성에 대한 소비자 인식 증가.
• 규제 지원: 영양 결핍에 대처하기 위해 FDA와 같은 당국에서 주식 식품의 강화를 의무화.
• 성장하는 식품 및 음료 산업: 가공 및 강화된 식품에서 티아민에 대한 수요가 높음.
• 영양 보충제 시장 증가: 건강 및 웰빙 트렌드의 일부로 티아민이 포함된 건강 보충제 소비 증가.
• 연구 및 개발: 티아민의 건강상의 이점을 강조하는 지속적인 연구로, 티아민의 인기가 높아지는 데 기여합니다.
• 고령화 인구: 고령화 인구의 영양에 대한 집중도가 높아져 티아민과 같은 필수 비타민에 대한 수요가 증가합니다.
