Vitamin B2 API Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Vitamin B2 API Market Size
According to new survey, global Vitamin B2 API market is projected to reach US$ 53 million in 2029, increasing from US$ 41 million in 2022, with the CAGR of 3.9% during the period of 2023 to 2029.

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Vitamin B2 API Market
vitamin B2, also known as Riboflavin, is a vitamin found in food It is essential to the formation of two major coenzymes, flavin mononucleotide and flavin adenine dinucleotide. These coenzymes are involved in energy metabolism, cellular respiration, and antibody production, as well as normal growth and development. The coenzymes are also required for the metabolism of niacin, vitamin B6, and folate.
Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Vitamin B2 API market research.
The global pharmaceutical market is 1475 billion USD in 2022, growing at a CAGR of 5% during the next six years. The pharmaceutical market includes chemical drugs and biological drugs. For biologics is expected to 381 billion USD in 2022. In comparison, the chemical drug market is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The pharmaceutical market factors such as increasing demand for healthcare, technological advancements, and the rising prevalence of chronic diseases, increase in funding from private & government organizations for development of pharmaceutical manufacturing segments and rise in R&D activities for drugs. However, the industry also faces challenges such as stringent regulations, high costs of research and development, and patent expirations. Companies need to continuously innovate and adapt to these challenges to stay competitive in the market and ensure their products reach patients in need. Additionally, the COVID-19 pandemic has highlighted the importance of vaccine development and supply chain management, further emphasizing the need for pharmaceutical companies to be agile and responsive to emerging public health needs.

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Segment by Type
Pharmaceutical Grade
Food Grade
98% Feed Grade
80% Feed Grade

Segment by Application
Pharmaceutical Industry
Food Industry
Feed Industry

By Company
Hubei Guangji Pharmaceutical, BSAF, DSM, Hegno, Zhejiang Shengda Bio-pharm

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This release was published on openPR.