Global Vitamin B2 (Riboflavin) Sales Market Report 2023

Vitamin B2 Market

Vitamin B2, also referred to as riboflavin, is a nutrient that is present in food and used as a nutritional supplement. It is used as a supplement to treat and avoid riboflavin deficiency and to stop migraines. It is effective for treating genital, ocular, and mouth inflammation. The use of riboflavin in clinical practice, the food and feed business, and the cosmetic industry are all very widespread.

Due to the COVID-19 pandemic, the global Vitamin B2 (Riboflavin) market size is estimated to be worth US$ 9442.4 million in 2022 and is forecast to a readjusted size of US$ 13070 million by 2029 with a CAGR of 4.7% during the forecast period 2023-2029.

Trends Influencing the Growth of the Global Vitamin B2 Market

Due to a rise in the consumption of fortified foods and beverages around the world, it is anticipated that the riboflavin market will expand further. Nearly 31% of the industrially processed wheat flour worldwide is thought to be fortified, according to the Food Fortification Initiative. 

Foods and drinks are typically fortified with iron, zinc, folic acid, riboflavin, niacin, thiamin, vitamin B12, and vitamin B6. Riboflavin is also anticipated to gain recognition due to its extensive use and multifaceted functions. The demand for riboflavin/vitamin B2 is being fueled by its wide range of uses in industries like food manufacturing, medicine, and animal nutrition.

The riboflavin market is expected to grow further as fortified foods and beverages become more popular all over the globe. According to the Food Fortification Initiative, fortification is believed to be present in close to 31% of industrially processed wheat flour worldwide. Usually, iron, zinc, folic acid, riboflavin, niacin, thiamin, vitamin B12, and vitamin B6 are added to foods and beverages as additives. 

Due to its widespread use and diverse functions, riboflavin is also expected to become more well-known. The broad variety of applications for riboflavin/vitamin B2 in fields like food production, medicine, and animal nutrition is driving up demand for the substance.

The global demand for fortified foods and drinks is anticipated to drive further growth in the riboflavin market. The Food Fortification Initiative estimates that close to 31% of industrially processed wheat flour globally contains fortification. Typically, food and beverage supplements include iron, zinc, folic acid, riboflavin, niacin, thiamin, vitamin B12, and vitamin B6. Riboflavin is anticipated to gain popularity due to its broad use and variety of uses. Demand for riboflavin/vitamin B2 is rising as a result of the substance's wide range of uses in industries like agriculture, health, and animal nutrition.

Vitamin B2 Market Share Analysis

When the economic impact of this health crisis is taken into consideration, it is predicted that the global market for vitamin B2 (riboflavin), which is 2022 accounted for 80% of the market globally, will reach US million in value by 2029 and grow at a revised% CAGR from 2023 to 2029.

Guangji Pharmaceutical, DSM, BASF, Shanghai Acebright Pharmaceuticals, and others are major participants in the global vitamin B2 (riboflavin) market. Over 80% of the market is held by the top four producers globally. With a market share of close to 40%, Asia-Pacific is the biggest region.

By Content

• 80% Vitamin B2
• 80%~96% Vitamin B2
• 98%~102% Vitamin B2

By Application

• Feed Additives
• Food Additives
• Pharmaceutical and Cosmetic

By Region

• United States
• Europe
• China
• Japan
• Southeast Asia
• India
• Other Regions

By Company

• Guangji Pharmaceutical
• DSM
• BASF
• Shanghai Acebright Pharmaceuticals
• NB GROUP