Product Code: 29291
The Global Vitamin B12 Market was valued at USD 165.09 Million in 2024 and is projected to reach USD 199.02 Million by 2030, growing at a CAGR of 2.58%. Known as cobalamin, Vitamin B12 plays an essential role in red blood cell production, nerve health, and DNA synthesis. Rising awareness of its importance in preventing fatigue, anemia, and neurological disorders is driving increased supplementation across various demographic groups. Individuals following plant-based diets are especially at risk for deficiency, resulting in a growing demand for fortified products such as cereals, energy drinks, and plant-based milk. Additionally, an aging population with reduced nutrient absorption capacity further fuels demand for clinical nutrition solutions. The expanding use of Vitamin B12 in pharmaceutical and nutraceutical formulations highlights its evolving role in health maintenance and disease management, particularly for cognitive and fatigue-related conditions.
Market Overview |
Forecast Period | 2026-2030 |
Market Size 2024 | USD 165.09 Million |
Market Size 2030 | USD 199.02 Million |
CAGR 2025-2030 | 2.58% |
Fastest Growing Segment | Direct |
Largest Market | North America |
Key Market Drivers
Growth in Pharmaceutical Industry
The continued expansion of the pharmaceutical sector is a major growth driver for the Vitamin B12 market. With global pharmaceutical revenues reaching USD 1.6 trillion by 2023, the industry has become a key consumer of Vitamin B12, particularly in applications related to anemia, neurological health, and prenatal care. Vitamin B12 is indispensable for red blood cell formation, nervous system function, and DNA replication, making it a staple ingredient in a variety of pharmaceutical products. Increased awareness about deficiencies-especially among vegetarians, the elderly, and individuals with absorption issues-has further accelerated demand. Companies like EUROAPI, which remains the only Western-based producer of Vitamin B12 for pharmaceutical use, continue to innovate with advanced fermentation technologies to meet global supply needs.
Key Market Challenges
High Production Costs
High production costs present a major challenge in the Vitamin B12 market. Manufacturing bioactive forms like methylcobalamin involves complex microbial fermentation processes and sophisticated purification methods. These procedures require stringent environmental controls and high operational precision, significantly driving up costs. Production yields can vary due to inconsistencies in microbial performance and raw material quality, leading to inefficiencies and wastage. Furthermore, maintaining product purity and stability demands advanced technology and rigorous quality control, particularly in regions with elevated labor and energy costs. These factors make large-scale production costly and reduce profitability for manufacturers, especially smaller enterprises.
Key Market Trends
Expansion of Nutraceutical Applications
The growing popularity of nutraceuticals is a key trend bolstering the Vitamin B12 market. Increasing consumer focus on preventive healthcare and overall wellness is driving demand for Vitamin B12 in functional foods and dietary supplements. In India, for instance, the government introduced fortified nutritional products like Jan Aushadhi Poshan under the PMBJP initiative, containing Vitamin B12 among other vital nutrients. B12's recognized benefits in energy production, cognitive health, and immune support are making it a popular addition to multivitamins, fortified drinks, and meal replacement formulas. With health-conscious lifestyles becoming more prevalent, especially in North America, Europe, and Asia-Pacific, manufacturers are actively expanding their nutraceutical product lines enriched with B12.
Key Market Players
- Hebei Yuxing Bio-Engineering Co., Ltd.
- Hebei Huarong Pharmaceutical Co., Ltd
- North China Pharmaceutical Group Corp. (NCPC)
- Ningxia Kingvit Pharmaceutical CO., LTD
- Euroapi
- DSM
Report Scope
In this report, the Global Vitamin B12 Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Vitamin B12 Market, By Sales Channel:
Vitamin B12 Market, By End Use:
- Pharmaceutical
- Animal Feed
- Food & Beverages
- Healthcare
- Personal Care
- Others
Vitamin B12 Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Vitamin B12 Market.
Available Customizations
Global Vitamin B12 Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, and Trends
4. Impact of COVID-19 on Global Vitamin B12 Market
5. Global Vitamin B12 Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Sales Channel (Direct, Indirect)
- 5.2.2. By End Use (Pharmaceutical, Animal Feed, Food & Beverages, Healthcare, Personal Care, Others)
- 5.2.3. By Region
- 5.2.4. By Company (2024)
- 5.3. Market Map
6. North America Vitamin B12 Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Sales Channel
- 6.2.2. By End Use
- 6.2.3. By Country
- 6.3. North America: Country Analysis
- 6.3.1. United States Vitamin B12 Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Sales Channel
- 6.3.1.2.2. By End Use
- 6.3.2. Mexico Vitamin B12 Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Sales Channel
- 6.3.2.2.2. By End Use
- 6.3.3. Canada Vitamin B12 Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Sales Channel
- 6.3.3.2.2. By End Use
7. Europe Vitamin B12 Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Sales Channel
- 7.2.2. By End Use
- 7.2.3. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. France Vitamin B12 Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Sales Channel
- 7.3.1.2.2. By End Use
- 7.3.2. Germany Vitamin B12 Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Sales Channel
- 7.3.2.2.2. By End Use
- 7.3.3. United Kingdom Vitamin B12 Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Sales Channel
- 7.3.3.2.2. By End Use
- 7.3.4. Italy Vitamin B12 Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Sales Channel
- 7.3.4.2.2. By End Use
- 7.3.5. Spain Vitamin B12 Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Sales Channel
- 7.3.5.2.2. By End Use
8. Asia Pacific Vitamin B12 Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Sales Channel
- 8.2.2. By End Use
- 8.2.3. By Country
- 8.3. Asia Pacific: Country Analysis
- 8.3.1. China Vitamin B12 Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Sales Channel
- 8.3.1.2.2. By End Use
- 8.3.2. India Vitamin B12 Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Sales Channel
- 8.3.2.2.2. By End Use
- 8.3.3. South Korea Vitamin B12 Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Sales Channel
- 8.3.3.2.2. By End Use
- 8.3.4. Japan Vitamin B12 Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Sales Channel
- 8.3.4.2.2. By End Use
- 8.3.5. Australia Vitamin B12 Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Sales Channel
- 8.3.5.2.2. By End Use
9. South America Vitamin B12 Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Sales Channel
- 9.2.2. By End Use
- 9.2.3. By Country
- 9.3. South America: Country Analysis
- 9.3.1. Brazil Vitamin B12 Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Sales Channel
- 9.3.1.2.2. By End Use
- 9.3.2. Argentina Vitamin B12 Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Sales Channel
- 9.3.2.2.2. By End Use
- 9.3.3. Colombia Vitamin B12 Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Sales Channel
- 9.3.3.2.2. By End Use
10. Middle East and Africa Vitamin B12 Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Sales Channel
- 10.2.2. By End Use
- 10.2.3. By Country
- 10.3. MEA: Country Analysis
- 10.3.1. South Africa Vitamin B12 Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Sales Channel
- 10.3.1.2.2. By End Use
- 10.3.2. Saudi Arabia Vitamin B12 Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Sales Channel
- 10.3.2.2.2. By End Use
- 10.3.3. UAE Vitamin B12 Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Sales Channel
- 10.3.3.2.2. By End Use
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
- 12.1. Merger & Acquisition (If Any)
- 12.2. Product Launches (If Any)
- 12.3. Recent Developments
13. Global Vitamin B12 Market: SWOT Analysis
14. Porters Five Forces Analysis
- 14.1. Competition in the Industry
- 14.2. Potential of New Entrants
- 14.3. Power of Suppliers
- 14.4. Power of Customers
- 14.5. Threat of Substitute Products
15. Competitive Landscape
- 15.1. Hebei Yuxing Bio-Engineering Co., Ltd.
- 15.1.1. Business Overview
- 15.1.2. Company Snapshot
- 15.1.3. Products & Services
- 15.1.4. Financials (As Reported)
- 15.1.5. Recent Developments
- 15.1.6. Key Personnel Details
- 15.1.7. SWOT Analysis
- 15.2. Hebei Huarong Pharmaceutical Co., Ltd
- 15.3. North China Pharmaceutical Group Corp. (NCPC)
- 15.4. Ningxia Kingvit Pharmaceutical CO.,LTD
- 15.5. Euroapi
- 15.6. DSM
16. Strategic Recommendations
17. About Us & Disclaimer