IMARC Group, a leading market research company, has recently releases report titled “Thiamine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global thiamine market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Thiamine Market?
The global thiamine market size reached US$ 217.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 469.3 Million by 2028, exhibiting a growth rate (CAGR) of 12.60% during 2023-2028.
What is Thiamine?
Thiamine, also known as vitamin B1, is an essential micronutrient that plays a crucial role in the normal function of the human body. It is a water-soluble vitamin, part of the B-vitamin family, and it must be obtained through diet as the body does not synthesize it. Thiamine acts as a coenzyme — a molecule that aids enzymes in catalyzing metabolic reactions. Specifically, it is involved in the catabolism of sugars and amino acids. Thiamine is crucial to produce adenosine triphosphate (ATP), which is the primary molecule used by cells for energy. This vitamin is vital for proper cardiac function, neurological and psychological health, and the integrity of the digestive system. A deficiency in thiamine can lead to a range of health issues, including Beriberi, a disease characterized by symptoms such as weakness, chronic fatigue, heart complications, and psychological disturbances. Wernicke-Korsakoff syndrome is another serious condition associated with severe thiamine deficiency, often seen in chronic alcoholism, which affects the brain and can lead to memory impairment and confusion. Thiamine is naturally present in a variety of foods, including whole grains, some meats (particularly pork), fish, legumes, and nuts. Fortification of food products like bread and cereal helps prevent deficiencies in the general population. Given its water-solubility, thiamine is not stored extensively in the body and therefore requires regular consumption to maintain adequate levels.
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What are the Growth Prospects and Trends in the Thiamine Market?
Increasing health awareness represents one of the key factors driving the growth of the market across the globe. As public knowledge about the importance of nutrition and preventive healthcare increases, more individuals are turning to vitamin supplements, including thiamine, to ensure adequate nutrient intake. This is particularly pertinent as modern diets, often high in processed foods, may lack sufficient levels of essential vitamins. The rising prevalence of chronic conditions, such as diabetes and cardiovascular diseases, where thiamine is shown to play a beneficial role, is further propelling the demand for this vitamin. The management of these conditions often includes dietary supplementation to support overall health. Thiamine deficiencies in populations commonly result from inadequate dietary intake or increased demand due to conditions such as alcoholism, which is fueling the need for thiamine supplements. Governments and health organizations in regions facing such deficiencies may encourage the fortification of food products with thiamine.
Additionally, there is a trend towards preventive health care and wellness, which emphasizes the role of vitamins in maintaining health and preventing disease. This trend is especially strong in developed countries where consumers have greater access to health information and supplements. The growing global population and the expansion of the middle class in emerging economies lead to increased consumer spending power, part of which goes towards health and wellness products, including vitamins like thiamine. The rise in vegetarianism and veganism also contributes to the growth of the thiamine market. As these diets exclude meat, which is a natural source of thiamine, individuals following these lifestyles seek supplements to prevent potential deficiencies. Significant advancements in distribution channels, including online retailing, are making vitamins and supplements more accessible to consumers, which is boosting the market growth.
Who are the Key Players Operating in the Thiamine Industry?
The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players operating in the market.
- Chemizo Enterprise
- HPC Standards GmbH
- Jiangsu Jubang Pharmaceutical Co., Ltd
- Jiangxi Tianxin Pharmaceutical Co., Ltd.
- Koninklijke DSM N.V.
- McCartan's Pharmacy
- Nutricost
What is Included in Market Segmentation?
The report has categorized the market based on meat type, product type, processing type and distribution.
Breakup by Application:
- Dietary Supplements
- Animal Feed
- Pharmaceuticals
- Food and Beverages
- Others
Regional Analysis:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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