Thiamine Mononitrate Market Analysis

Type (Food Grade, Feed Grade, Pharmaceutical Grade)

The global thiamine mononitrate (vitamin B1) market is segmented and analyzed for demand and supply by type into food grade, feed grade, and pharmaceutical grade. Out of these three segments, the pharmaceutical grade segment is estimated to gain the largest market share of about 52% in the year 2037. The growth of the segment can be attributed to the rising ratio of several disorders such as diabetes, beriberi, Alzheimer’s, and so on where thiamine-enriched medications deliver a better outcome. As per the World Health Organization (WHO) report, there are 422 million diabetics worldwide, and diabetes is the primary factor of 1.5 million fatalities per year. Moreover, the escalating use of vitamins in the healthcare sector is also estimated to boost segment growth in the projected time frame.

Application (Supplements, Feed Additives, Cosmetics)

The global thiamine mononitrate (vitamin B1) market is also segmented and analyzed for demand and supply by application into supplements, feed additives, cosmetics, and others. Amongst these four segments, the feed additives segment is expected to garner a significant share of around 43% in the year 2037. Animal feed is the diet given to domestic animals, and it frequently refers to fodder in the process of farm animal management and care. Thiamine supplementation benefits dairy cows by enhancing rumen fermentation, regulating the bacterial community, and decreasing the inflammatory response in the ruminal epithelium. Therefore, the significant advantage has made the thiamin mononitrate (vitamin B1) to be highly used in the production of several kinds of cattle feed. For instance, in 2021, South Korea's compound livestock feed production exceeded by around 7 million tons, which includes feed for both dairy and beef cattle. The entire volume of animal feed produced in South Korea that year was around 20 million tons. On the other hand, the supplements segment is projected to witness a significant CAGR during the forecast period, owing to the rising awareness about the benefits of multivitamins amongst people worldwide. Since, the lack of these micronutrients may trigger several kinds of health issues including digestive disorders, skin disorders, the occurrence of dementia, and improper bone growth too. Hence, to combat such types of health conditions, the use of numerous types of health and dietary supplements has been increased which is anticipated to spike the segment growth further in the coming years.

Our in-depth analysis of the global market includes the following segments: