Thiamine Mononitrate Market Share

APAC Market Statistics

Asia Pacific industry is likely to hold largest revenue share of 44% by 2037. The growth of the market can be attributed majorly to the increasingly high demand for dietary supplements and vitamins in the region. For instance, as per a survey report, more than 60% of Asians were consuming a health supplement in 2022, Moreover, almost 80% of respondents in South Korea reported that they used dietary supplements, the highest share within the Asia-Pacific region surveyed. Further, the upsurge in the population, coupled with the rising cognizance among people regarding thiamine deficiency, and escalating disposable income are also anticipated to contribute to the market growth in the region during the forecast period.

North American Market Forecast   

The North American thiamine mononitrate (vitamin B1) market, amongst the market in all the other regions, is projected to hold the second largest share of about 23% during the forecast period. The growth of the market can be attributed majorly to the expanding demand for cosmetics, higher awareness regarding proper nutrition, and the growing pharmaceutical industry in the region. For instance, in 2021, the US pharmaceutical industry generated nearly USD 558 billion in revenue. In addition to this, the escalating use of thiamine in the food and beverages sector, along with the rising ratio of the geriatric population, and a steady increase in the proportion of rare disorders is also estimated to skyrocket the market growth in the region in the coming years.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a considerable share of about 17% by the end of 2037. The growth of the market can be attributed majorly to the increasing utilization and production of thiamine-infused cosmetic and personal care products comprising anti-aging creams, lotions, anti-pigmentation creams, and so on. Moreover, the a significant presence of several multinational key players who are engaged in the huge production of thiamine-enriched cosmetics and personal care products. In addition to this, the escalating demand and production of hair protection products are also anticipated to drive market growth further throughout the forecast period in the region.