The global Biotin Market is expected to witness rapid growth in the near future due to the increasing demand for biotin products by end-user industries across the globe. Factors responsible for the market growth include rising awareness regarding benefits of biotin products and ability of biotin to activate production of protein and amino acid metabolism in the fingernail cells and hair roots.
Advantages of the biotin includes skin-softening characteristics, food conversion into glucose, and production of fatty acids. These factors strengthen the market in the forecast period. Globally, the biotin market is predicted to grow at CAGR of 7.68% in forecast period, providing numerous opportunities for market players to invest in research and development of the biotin market.
Increasing popularity of the biotin supplements is attributed to its capability of fostering hair and nail growth, thus causing nails thicker and less brittle, thus driving the market demand for biotin-based products in the forecast period. Increasing use of biotin in the ingredient-based products is anticipated to boost market growth as well. Moreover, growing health consciousness among the general population across the globe is leading to increasing adoption of ingredient-based products in both food and health supplement, thereby propelling the growth of biotin market, in the last few years.
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Biotin is commonly known as a water-soluble B vitamin, also termed as vitamin-B seven. Biotin formerly called as vitamin H due its similarities with coenzyme R. Biotin deficiency can cause effects such as hair thinning and skin rashes, particularly visible on the face of patient. Lack of vitamin-B seven intake and hereditary disorders leads to biotin deficiency, thereby affecting biotin metabolism.
Biotin is considered as a crucial part of enzymes that performs metabolism of fats and carbohydrates, thus directly affecting cell growth and protein synthesis. Biotin performs various actions involving metabolic reactions such as transfer of carbon dioxide. Biotin is also useful in monitoring a blood sugar level. Other benefits of biotin is include adoption in dietary supplement for reinforcing hair and nail growth.
The market is broadly categorized into four major types such as tablets, capsules, lotions, and serums. Capsules biotin supplements is considered as one of the fastest growing segment in the biotin market with substantial revue generation in the last couple of years. The growing popularity of the capsules biotin supplements market segment is attributed to the increasing end-user demand from North America and European region. The capsules biotin supplements market segment is further categorized into the soft gel capsules and hard gel capsules.
Additionally, increasing import and export activities and presence of the large number of local manufactures in the Asia Pacific region, particularly in the China and India are expected to fuel market growth in the near future. However, soaring international market prices for biotin products and growing competition in the market are predicted to limit market growth to a certain extent.
The biotin market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies and existence of well-established manufacturing infrastructure.
Asia-Pacific region is predicted to hold major market share in the biotin market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with strong economic growth, increasing import and export activities, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the biotin market are DSM Sinochem Pharmaceuticals, Zhejiang Medicine Co., Ltd., Takeda Pharmaceutical Company Ltd., F. Hoffmann-La Roche AG, Biocar Co., Zhejiang Shengda Bio-pharm Co., Ltd., BASF Co., Allwell Industries Co., Ltd., Fuyang Kexing Biochem Co., Ltd., and Shanghai Acebright Pharmaceuticals Group Co., Limited.
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• Food & Beverage
• North America
• Asia Pacific
• Middle East and Africa
• South America
• BBCA Group
• Kexing Biochem
• Shengda Bio-pharm
• Xi’an Allwell
• Zhejiang Medicine
• Zhejiang NHU
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Key Questions Answered in this Report
• What will the market size be in 2022?
• What are the key factors driving the global biotin market?
• What are the challenges to market growth?
• Who are the key players in the biotin market?
• What are the market opportunities and threats faced by the key players?
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/pharmaceuticals
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