Vitamin B12 Market Set to Surpass USD 444.47 Million by 2030, Driven by Rising Veganism, Preventive Healthcare Focus, and Growth in Nutraceuticals: MarkNtel Advisors
NEW DELHI, Aug. 14, 2025 /PRNewswire/ -- The Global Vitamin B12 Market is on track to grow from USD 288 million in 2024 to USD 444.47 million by 2030, representing a compound annual growth rate (CAGR) of 7.50%, according to the latest industry research. The market's expansion is being fueled by heightened consumer awareness of Vitamin B12's critical role in human health, alongside a surge in plant-based dietary patterns, and rapid advances in the nutraceutical and fortified food industries.
Vitamin B12, scientifically known as cobalamin, is a water-soluble vitamin essential for red blood cell formation, neurological function, and DNA synthesis. Naturally occurring in animal-derived foods such as meat, fish, eggs, poultry, and dairy, it is notably absent from plant-based diets — creating a significant risk of deficiency among vegans, vegetarians, and individuals with certain medical conditions that affect nutrient absorption. Deficiency symptoms can include fatigue, weakness, anemia, cognitive decline, and nerve damage.
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Leading Companies in the Vitamin B12 Market:
The competitive landscape of the global Vitamin B12 market features a strong mix of top Vitamin B12 companies, trusted brands, and leading manufacturers driving innovation and supply worldwide. Key industry players dominating the Vitamin B12 segment include Hebei Yufeng Group, Hebei Huarong Pharmaceutical, BASF Nutrition, Sanofi, NCPC VICTOR, Chempure, Hebei Yuxing Bio-Engineering Co. Ltd, Ningxia Kingvit Pharmaceutical, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., LUPIN, Mylan N.V., Apotex Inc., Bristol Laboratories Ltd., Mankind Pharma, and Biocon, among others. These companies are recognized for their large-scale production capacities, high-quality formulations, and extensive distribution networks, making them crucial contributors to the growth of the global Vitamin B12 market.
Why Vitamin B12 Demand is Rising Globally:
- Increasing Vitamin B12 Deficiency Rates
Globally, healthcare practitioners are diagnosing Vitamin B12 deficiency in a broader range of demographics than ever before. Causes include dietary restrictions, gastrointestinal disorders, age-related absorption issues, and genetic factors. The rise in deficiencies is driving demand for both preventive and therapeutic supplementation across medical, retail, and online channels. - Shift Toward Plant-Based Nutrition
The rapid growth in vegan and vegetarian populations, driven by environmental, ethical, and health considerations, is significantly reshaping food and supplement markets. Since plant-based diets naturally lack Vitamin B12, fortified foods such as plant-based milks, breakfast cereals, and nutritional yeast have become important dietary staples. Supplementation is now a critical recommendation for those avoiding animal products. - Expansion of the Nutraceutical and Functional Food Industry
The global nutraceutical market is integrating Vitamin B12 into a wide range of formulations, from energy-boosting blends and cognitive health products to immune support and sports recovery supplements. Increasing disposable incomes and the shift toward proactive wellness are fueling retail growth across supermarkets, pharmacies, and e-commerce platforms.
Market Segmentation Analysis
By Cyanocobalamin Type:
- Injection: Preferred in clinical environments for treating severe deficiencies, neurological disorders, and anemia. Known for rapid absorption and effectiveness in acute cases.
- Oral: Tablets, capsules, and gummies dominate the consumer market due to convenience, affordability, and wide availability.
- Spray: A growing category for fast absorption, targeting both the wellness and sports nutrition markets.
By Application:
- Medical Treatment: The largest revenue segment, supported by healthcare providers and prescription-based supplementation.
- Food Additives: Increasing demand in fortified plant-based beverages, cereals, and packaged health foods.
- Feed Supplements: Critical in the livestock and poultry sectors to improve animal health and productivity.
- Others: Includes pharmaceutical integration and cosmetic formulations targeting skin health.
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Regional Outlook: Asia-Pacific Leading the Growth:
Asia-Pacific is projected to dominate the market due to:
- High prevalence of malnutrition & B12 deficiency in younger populations.
- Government-led nutrition awareness campaigns in India, China, and Southeast Asia.
- Rising disposable incomes driving health supplement purchases.
North America and Europe will continue to hold substantial market shares, driven by advanced healthcare infrastructure, preventive medicine adoption, and high supplement penetration rates.
Key Market Trends:
- B12-Fortified Vegan Foods: Rapid innovation in fortified plant-based products to meet the needs of vegan and vegetarian consumers.
- Digital Health Integration: AI-driven nutrition platforms and telehealth services are increasingly recommending tailored B12 supplementation plans.
- E-Commerce Dominance: Direct-to-consumer supplement sales are surging, with subscription models improving retention rates.
- Multi-Nutrient Formulations: Combining Vitamin B12 with other vitamins and minerals for holistic health benefits.
Challenges and Industry Responses:
While Vitamin B12 is generally considered safe, excessive intake can cause mild side effects, including skin irritation, headaches, and dizziness in sensitive individuals. Certain medical conditions, such as Leber's hereditary optic neuropathy, require caution. Industry leaders are responding by implementing clear dosage labeling, robust consumer education campaigns, and third-party testing for quality assurance.
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Related Questions You May Find Helpful:
Q1. What is the current size of the global Vitamin B12 market?
A. The market is valued at approximately USD 288 million in 2024 and is projected to reach USD 444.47 million by 2030, growing at a CAGR of around 7.50%.
Q2. Who are the top Vitamin B12 manufacturers globally?
A. Major players include Hebei Yufeng Group, BASF Nutrition, Sanofi, Merck & Co., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., and Mankind Pharma among others.
Q3. Which industries use Vitamin B12?
A. Key sectors include pharmaceuticals, nutraceuticals, food & beverage, feed supplements, and cosmetics.
Q4. Why is demand for Vitamin B12 increasing?
A. Rising veganism, increasing vitamin deficiencies, and higher health awareness are driving global demand.
Q5. What are the key benefits of Vitamin B12 supplements?
A. Supports blood health, DNA synthesis, nerve function, and helps prevent megaloblastic anemia.
Q6. Which region leads the Vitamin B12 market?
A. Asia-Pacific dominates due to high deficiency rates, rising incomes, and growing vegan/vegetarian populations.
Q7. Where can I get a detailed report?
A. MarkNtel Advisors offers in-depth Vitamin B12 market analysis with forecasts, segmentation, and competitive intelligence to help businesses make data-driven decisions.
Q8. How can I invest in this market?
A. Investors can explore partnerships with leading manufacturers, nutraceutical startups, or distribution networks to capitalize on the growing demand.
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