Vitamin B12 Market Size
Vitamin B12 Market size reached US$ 350.12 million in 2024 and is expected to reach US$ 592.63 million by 2032, growing with a CAGR of 6.80% during the forecast period 2025-2032.
As more people become aware of the symptoms and consequences of vitamin B12 deficiency, there is a growing demand for supplements that address this issue. Deficiency in vitamin B12 can lead to various health problems, including fatigue, neurological issues and anemia. This heightened awareness is driving consumers to seek out vitamin B12 supplements to prevent or manage these conditions, contributing to the market's growth.
Innovations such as sublingual tablets, liquid formulations and intranasal sprays are gaining popularity due to their improved absorption and convenience compared to traditional oral supplements. These advanced delivery methods enhance the bioavailability of vitamin B12, leading to more effective supplementation and driving consumer preference for these products. The market is seeing a rise in the availability of these innovative formulations, reflecting the trend towards more effective and user-friendly vitamin B12 supplements.
For instance, on July 30, 2024, LycoRed introduced its new line of innovative Vitamin B12 formulations, showcased at Vitafoods. Featuring advanced tablet technology, these formulations overcome the challenges of stability and uniform distribution by chemically bonding B12 to a pharmaceutical ion exchange resin. This breakthrough protects the vitamin from pro-oxidants and potential cross-reactions that could lead to degradation.
Vitamin B12 Market Trend
A notable trend in the vitamin B12 market is the increasing demand for fortified foods and beverages. This shift is driven by consumer preference for convenient, health-enhancing products that seamlessly integrate into daily diets. Manufacturers are responding by developing innovative fortified offerings, such as plant-based milks and cereals enriched with vitamin B12, catering to the nutritional needs of diverse populations.
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Market Scope
| Metrics | Details |
| By Source | Cyanocobalamin, Hydroxocobalamin, Methyl cobalamin, Adenosyl cobalamin |
| By Product | Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Others |
| By Composition | Tablets, Capsules, Powders, Others |
| By Application | Food and Beverages, Animal Feed, Personal Care, Others |
| By Region | North America, South America, Europe, Asia-Pacific and Middle East and Africa |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth |
Vitamin B12 Market Dynamics
Growing Geriatric Population
The growing geriatric population is a significant driver of the global Vitamin B12 market due to the increased risk of deficiency among older adults. According to the FAO, By 2030, one in six people worldwide will be aged 60 or older, with this population growing from 1 billion in 2020 to 1.4 billion. By 2050, the number of people aged 60 and above will double to 2.1 billion, and those aged 80 and over are expected to triple to 426 million. This rapid aging trend will significantly increase the demand for Vitamin B12 supplementation, as older adults are more prone to deficiencies due to reduced absorption.
As people age, their bodies naturally become less efficient at absorbing nutrients, particularly Vitamin B12, because of reduced stomach acid production and age-related gastrointestinal issues. This deficiency can lead to serious health concerns such as anemia, fatigue, cognitive decline, memory loss, and neurological disorders.
As a result, there is a heightened demand for Vitamin B12 supplements and fortified foods to support healthy aging and maintain quality of life. Moreover, the elderly are more likely to suffer from chronic conditions or take medications that further impair B12 absorption, increasing the need for supplementation. Healthcare providers increasingly recommend routine B12 monitoring and supplementation for seniors, driving market growth.
Companies are innovating new and convenient delivery methods such as nasal sprays, sublingual tablets, and patches that improve patient compliance and expand consumer options. For instance, in February 2024, Lupin Limited announced the launch of its Cyanocobalamin Nasal Spray, 500 mcg, following FDA approval. The spray is a generic equivalent and is indicated for maintenance therapy in adults with pernicious anemia, treatment of various types of Vitamin B12 deficiency, and prevention in patients with higher B12 needs.
Potential for Adverse Effects
The possibility of adverse effects from vitamin B12 supplements can lead to consumer hesitancy, affecting market demand. Potential side effects, such as allergic reactions or interactions with other medications, may cause individuals to avoid or limit their use of these supplements. This reluctance can slow growth in the global vitamin B12 market as consumers seek safer or alternative options.
Adverse effects associated with vitamin B12 supplementation may contribute to negative market perceptions. The potential for adverse effects has led to market segmentation within the global vitamin B12 market. Companies are developing specialized formulations, such as those with controlled-release mechanisms or lower dosages, to address safety concerns and minimize the risk of adverse effects. This segmentation can influence market trends and product availability.
Vitamin B12 Market Segment Analysis
The global vitamin B12 market is segmented based on product, source, composition, application and region.
Food and Beverages Segment Driving Vitamin B12 Market
The food and beverage sector holds a significant share in the global vitamin B12 market due to the increasing consumer demand for fortified and functional foods that support health and wellness. Vitamin B12 is essential for maintaining neurological function, red blood cell formation, and DNA synthesis, driving its inclusion in a wide range of consumables.
Many food manufacturers are enriching products such as dairy, plant-based milk alternatives, cereals, energy bars, and nutritional beverages with vitamin B12 to appeal to health-conscious consumers, especially vegetarians and vegans who may be at higher risk of deficiency. For instance, in February 2024, Weikfield Foods Pvt Limited has launched Iron Fortified Pasta, enriched with Iron, Vitamin B12, and Folic Acid, combining essential nutrition with great taste.
The growing trend toward clean-label and natural ingredient products has further encouraged the incorporation of vitamin B12, as it is recognized for its vital role in energy metabolism and cognitive health. Moreover, fortified foods offer an accessible way to address the widespread global prevalence of B12 deficiency, which is particularly common in older adults and populations with restricted diets. Advances in food technology have improved the stability and bioavailability of vitamin B12 in processed foods, making it easier for manufacturers to formulate effective fortified products.
Additionally, the rising awareness of nutritional deficiencies and the increasing prevalence of lifestyle-related health issues have boosted consumer preference for functional foods and beverages. This has resulted in strong growth opportunities within the vitamin B12 market segment dedicated to food and beverage products. Additionally, the rising awareness of nutritional deficiencies and the increasing prevalence of lifestyle-related health issues have boosted consumer preference for functional foods and beverages. This has resulted in strong growth opportunities within the vitamin B12 market segment dedicated to food and beverage products.
Vitamin B12 Market Geographical Share
Demand for Vitamin B12 in Asia-Pacific
The Asia-Pacific region holds a significant share of the global vitamin B12 market, driven by several key factors. Rapid population growth, increasing awareness about health and nutrition, and rising incidences of vitamin B12 deficiency contribute to the growing demand in this region. Countries such as China, India, Japan, South Korea, and Australia have witnessed a surge in dietary supplement consumption, including vitamin B12, due to lifestyle changes, urbanization, and a rising middle-class population with higher disposable income
Moreover, over 650 million people in India suffer from vitamin B12 deficiency. This massive prevalence is mainly due to dietary habits—India has a large vegetarian population that consumes very little animal-based foods, which are the primary natural sources of vitamin B12. Additionally, factors like poor absorption due to gastrointestinal issues, socioeconomic conditions, and limited awareness about supplementation contribute to this widespread deficiency.
Companies are launching affordable, accessible vitamin B12 supplements, including tablets, capsules, syrups, and fortified foods, specifically tailored for the Indian consumer. For instance, in December 2024, Rasayanam Nutripharm Pvt. Ltd. introduced a vegan-friendly Vitamin B12 supplement sourced from natural ingredients like chlorella and spirulina. This product aims to address B12 deficiencies, especially among vegetarians and vegans, offering benefits like enhanced energy, brain health, and red blood cell formation. Similarly, in January 2024, Tata 1mg collaborated with Vitonnix UK to launch sublingual Vitamin B12 sprays in India. These sprays offer rapid absorption and are designed for individuals who prefer a convenient, pill-free supplement option.
Sustainability Analysis
The global vitamin B12 market is increasingly shifting toward sustainability, driven by environmental concerns and the demand for more efficient production practices. Traditional B12 synthesis, which often relies on fermentation using significant quantities of cobalt, results in waste streams with residual heavy metals. In response, researchers at the UK’s Quadram Institute and University of Kent have developed a genetically engineered strain of Escherichia coli that reduces cobalt usage, thereby cutting both environmental impact and production costs.
In industry, EUROAPI has committed US$ 43.3 million to upgrade its vitamin B12 manufacturing facility in Saint-Aubin-lès-Elbeuf, France. The investment aims to reduce water consumption and waste by nearly 50% while boosting output by over 50%. This project received US$ 8.6 million in support from the French government, underlining its strategic sustainability importance.
Additionally, new research has shown that using waste frying sunflower oil as a carbon source in Propionibacterium freudenreichii fermentation can enhance vitamin B12 yield by up to 170% compared to conventional methods. This innovation not only improves production efficiency but also repurposes food industry waste, supporting circular economy principles. These initiatives represent a broader push in the vitamin B12 market to align with global environmental goals and ethical manufacturing standards, reflecting increased demand from both consumers and regulatory bodies for cleaner, more sustainable nutraceutical solutions.
Vitamin B12 Market Major Players
The major global players in the market include Hoffmann-La Roche Ltd., Bayer AG, Merck Group, Johnlee Pharmaceuticals Pvt. Ltd, American Regent Inc, Koninklijke DSM N.V., EUROAPI, Pharmavit, Supreem Pharmaceuticals Mysore Pvt. Ltd. and Arshine Feed Additives Co., Ltd.
Key Developments
- In August 2024, Expana announced a proposal on the launch of weekly Expana Benchmark Prices (EBP) for choline chloride 60% and vitamin B12 in all regions and is collecting feedback from market participants.
- In October 2022, DIESSE Diagnostica Senese announced the launch of two new mono-tests for Vitamin B12 and Folate, set to be available by the end of November. These tests are crucial for diagnosing the causes of anemia and neuropathy, assessing nutritional status and monitoring the effectiveness of treatment for these essential vitamins.
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Target Audience 2024
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