What is Nicotinic Acid
Niacin, or nicotinic acid, is a B vitamin essential for maintaining healthy skin, nerve function, metabolism, and other bodily processes. As a result of its health advantages, it is frequently employed in the food and pharmaceutical industries. In the upcoming years, the global market for nicotinic acid is expected to expand significantly. The market for nicotinic acid is expanding due to several factors, some of which are listed below.
Market factors of Nicotinic Acid Market
Increasing demand from the pharmaceutical industry
Nicotinic acid has multiple benefits, like reducing cholesterol, preventing heart disease, and improving blood circulation. It is widely used in the pharmaceutical industry to produce drugs for treating medical conditions. The increase in chronic diseases like cardiovascular diseases and diabetes drives the demand for nicotinic acid in the pharmaceutical industry. As per the WHO, approx. 17.9 million people died from cardiovascular diseases in 2016. It has resulted in a significant increase in demand for nicotinic acid in the pharmaceutical industry.
Rising demand from the food and beverage industry
Nicotinic acid is even used as a food additive in the food and beverage industry. It is added to several food products like pasta, cereals, and bread to improve their nutritional value. The increasing demand for nutritious and healthy food products drives the demand for nicotinic acid in the beverage and food industry. The increasing trend of fortifying food products with minerals and vitamins also contributes to the growth of the nicotinic acid market in the food and beverage industry.
Increasing investments in research and development
Various food and pharmaceutical companies invest heavily in development and research to develop innovative nicotinic acid products. Such advancements and innovations drive the demand for nicotinic acid in the market. Increasing focus on developing sustainable and eco-friendly production methods for nicotinic acid is even contributing to the market's growth.
Conclusion
Due to expanding consumer demand from the food and pharmaceutical industries, the popularity of dietary supplements, rising investments in research and development, and geographic considerations, the nicotinic acid market is anticipated to expand rapidly in the upcoming years. Because of the fierce competition in the market, businesses are concentrating on creating novel and ground-breaking items to acquire a competitive advantage.
Author's Details
Vinayak Bali/ Linkedin
Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 100+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
Author's Detail:
Vinayak Bali /
LinkedIn
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
