Riboflavin Vitamin B2 Market Report 2024 (Global Edition)

Global Riboflavin Vitamin B2 Market Report 2024 Market Size Split by Form (Powder, Granules, Tablets, Capsules, Liquid), by Application (Food & Beverages, Dairy Products, Bakery Products, Beverages, M...

Riboflavin Vitamin B2 Market Report Description

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Riboflavin Vitamin B2 Market Insights Video

Competitive Landscape of the Riboflavin Vitamin B2 Market

The Riboflavin Vitamin B2 market is highly competitive, with a mix of established pharmaceutical companies, specialized vitamin producers, and contract manufacturers striving to meet diverse global demands. Key players such as DSM, BASF, and Glanbia lead the market, leveraging their extensive R&D capabilities, manufacturing efficiency, and global distribution networks to offer high-quality Riboflavin products.

In May 2022, Royal DSM agreed to merge with Firmenich. DSM-Firmenich will have four business units - perfumery and beauty, food and beverage, health and nutrition, and animal nutrition, with combined sales of approximately EUR 11.5 billion (USD 13.58 billion). (Source: https://www.foodbusinessnews.net/articles/21456-royal-dsm-to-acquire-firmenich) In December 2021, According to a study conducted by Kobe University, the addition of vitamin B2 to cells exposed to aging stress has been found to enhance the mitochondria's ability to produce energy, effectively preventing cell aging. (Source: https://www.kobe-u.ac.jp/en/news/article/2021_12_13_01/)

Top Companies Market Share in Riboflavin Vitamin B2 Industry: (In no particular order of Rank)

• Guangji Pharmaceutical
• BASF
• Sunergy Group
• FOODCHEM
• Shanghai Acebright Pharmaceuticals
• NB GROUP
• Polifar Group
• Hegno
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Regional Analysis of the Riboflavin Vitamin B2 Market

Which Region Dominates the Riboflavin Vitamin B2 Market in 2024?

According to Cognitive Market Research, North America's dominance in the Riboflavin (Vitamin B2) market stems from its well-established health and wellness sector, high consumer awareness of nutritional supplements, and a robust pharmaceutical industry. The region has a strong demand for fortified foods, dietary supplements, and pharmaceutical products containing Riboflavin, driven by increasing health-consciousness and a focus on preventive healthcare.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific region is the fastest-growing market for Riboflavin (Vitamin B2) due to rapid urbanization, increasing disposable incomes, and a rising focus on health and nutrition. The growing middle class in countries like China and India is driving demand for fortified foods and dietary supplements, as consumers become more health-conscious.

The current report Scope analyzes Riboflavin Vitamin B2 Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Riboflavin Vitamin B2

According to Cognitive Market Research, the global Riboflavin Vitamin B2 market size was estimated at USD 9715.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 3886.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Riboflavin Vitamin B2 market with a market size of USD 3066.12 million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period. The U.S. market's increasing health awareness.
• The Canada Riboflavin Vitamin B2 market had a market share of USD 466.33 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period. Canada’s increasing health awareness.
• The Mexico Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 353.63 million in 2024.

Europe Riboflavin Vitamin B2

According to Cognitive Market Research, the global Riboflavin Vitamin B2 market size was estimated at USD 9715.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 2914.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

• The United Kingdom Riboflavin Vitamin B2 market had a market share of USD 23.66million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. In the UK, Riboflavin Vitamin B2 sales witness an upswing due to the strong focus on health-conscious lifestyles.
• The France Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 12.96million in 2024.
• According to Cognitive Market Research, the German Riboflavin Vitamin B2 market size was valued at USD 27.89million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. In Germany, Riboflavin Vitamin B2 surged due to the strong focus on health-conscious lifestyles.
• The Italy Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 12.11million in 2024.
• The Russia Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 21.83million in 2024.
• The Spain Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 11.55 million in 2024
• The Luxembourg Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 4.37 million in 2024.
• The Portugal Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 7.3% during the forecast period, with a market size of USD 2.96 million in 2024.
• The Greece Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 1.69 million in 2024.
• The Rest of Europe's Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 21.83 million in 2024.

Asia Pacific Riboflavin Vitamin B2

According to Cognitive Market Research, the global Riboflavin Vitamin B2 market size was estimated at USD 9715.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2234.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Riboflavin Vitamin B2 market size was valued at USD 1005.52 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. Riboflavin Vitamin B2surged in China due to rising awareness of nutritional health.
• The Japan Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 308.36 million in 2024.
• The India Riboflavin Vitamin B2 market had a market share of USD 268.14 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. India's rising awareness of nutritional health.
• The South Korean Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 223.45 million in 2024.
• The Australian Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 6.9% during the forecast period, with a market size of USD 116.19 million in 2024.
• The South East Asia Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 154.18 million in 2024.
• The Rest of Asia Pacific Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 158.65 million in 2024.

South America Riboflavin Vitamin B2

According to Cognitive Market Research, the global Riboflavin Vitamin B2 market size was estimated at USD 9715.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 485.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Riboflavin Vitamin B2 market size was valued at USD 207.91 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period. Riboflavin Vitamin B2s flourished in Brazil due to increased consumer awareness of vitamin deficiencies.
• Argentina's Riboflavin Vitamin B2 market had a market share of USD 81.61 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Argentina's increased consumer awareness of vitamin deficiencies.
• Colombia Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 43.23 million in 2024.
• Peru Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 39.83 million in 2024.
• Chile Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 34.97 million in 2024.
• The Rest of Latin America's Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 78.21 million in 2024.

Middle East and Africa Riboflavin Vitamin B2

According to Cognitive Market Research, the global Riboflavin Vitamin B2 market size was estimated at USD 9715.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 194.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031..

• The GCC Countries Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 83.16 million in 2024. Riboflavin Vitamin B2 sales flourish due to the growing focus on nutritional health and efforts to combat vitamin deficiencies.
• The Egypt Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 20.40 million in 2024.
• The South Africa Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 30.70 million in 2024. Riboflavin Vitamin B2sales flourished in South Africa due to growing focus on nutritional health and efforts to combat vitamin deficiencies.
• The Turkey Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 16.71 million in 2024.
• The Nigeria Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 20.40 million in 2024.
• The Rest of the MEA Riboflavin Vitamin B2 market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 22.93 million in 2024.

Riboflavin Vitamin B2 Market Analysis

Riboflavin Vitamin B2 Market Form Segment Analysis

According to Cognitive Market Research, The tablet form of Riboflavin (Vitamin B2) is currently the dominant category in the market due to its high demand for both dietary supplements and therapeutic uses. Tablets are easy to store, have a longer shelf life compared to liquid forms, and offer precise dosage, making them a popular choice for consumers and healthcare providers.

The liquid form of Riboflavin is emerging as the fastest-growing category, driven by the increasing preference for faster absorption and suitability for people with swallowing difficulties, including children and the elderly. Liquid Riboflavin provides an easily digestible option, ensuring more efficient nutrient absorption.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Riboflavin Vitamin B2 Industry. Request a Free Sample PDF!

Riboflavin Vitamin B2 Market Application Segment Analysis

According to Cognitive Market Research, Dietary supplements hold a dominant position in the Riboflavin (Vitamin B2) market due to the rising consumer awareness of preventive healthcare and the benefits of vitamins for maintaining general wellness. The growing trend towards self-care, fueled by the desire to boost immunity and overall health, has led to a surge in demand for Riboflavin supplements. This category is especially popular among individuals with vitamin deficiencies and those seeking to enhance their energy levels.

The animal feed segment is emerging as the fastest-growing category in the Riboflavin (Vitamin B2) market, spurred by increasing demand for animal nutrition and livestock health. Riboflavin plays a crucial role in the growth and metabolism of animals, making it an essential component of feed for poultry, swine, and cattle. As the global demand for meat and animal-derived products rises, livestock producers are increasingly incorporating Riboflavin into feed to improve animal health and productivity.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Riboflavin Vitamin B2 End user Segment Analysis

Riboflavin Vitamin B2 Market End user Segment Analysis

According to Cognitive Market Research, Adults represent the dominant end-user category in the Riboflavin (Vitamin B2) market, primarily due to the increasing prevalence of vitamin deficiencies and the growing emphasis on maintaining general health and wellness among this population. As people age, they may face challenges absorbing essential nutrients, prompting a need for vitamin supplements, including Riboflavin.

Athletes and active individuals are the fastest-growing end-user category in the Riboflavin (Vitamin B2) market, driven by the need for enhanced energy levels, muscle function, and recovery support. Riboflavin is vital for energy production and muscle repair, making it a valuable supplement for those with high physical activity levels.

• Adults
• Children
• Pregnant Women
• Athletes/Active Individuals

Riboflavin Vitamin B2 Distribution channel Segment Analysis

Riboflavin Vitamin B2 Market Distribution channel Segment Analysis

According to Cognitive Market Research, the Pharmacies dominate the distribution channels in the Riboflavin (Vitamin B2) market, as they are trusted sources for purchasing vitamins and other health supplements. Consumers often prefer pharmacies for the assurance of product authenticity and the ability to seek advice from healthcare professionals on appropriate dosages and benefits.

Online retail is the fastest-growing distribution channel for Riboflavin (Vitamin B2) products, driven by the convenience and variety it offers. With the increasing adoption of e-commerce, consumers are shifting to online platforms for health supplements due to benefits such as home delivery, competitive pricing, and access to a wider range of brands and product formats.

• Online Retail
• Supermarkets/Hypermarkets
• Health Food Stores
• Pharmacies
• Direct Sales

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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