A new market study, titled “Discover Global Vitamin B12 (Cyanocobalamin) Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Cyanocobalamin is is derived from vitamin B12 and has a wide-spread application in treating vitamin B12 deficiency. The deficiency can occur for diverse reasons like due to occurrence of pernicious anemia or due to bowel cancer. Vitamin B12 (Cyanocobalamin) can be swallowed by mouth, as an injection into a muscle, or can be used as a nasal spray. The product may trigger minor diarrhea and itchiness,howver, in general, it can be well-tolerated. Vitamin B12 (Cyanocobalamin) is essential for sustenance. The product is doing great in pharmaceutical sectors and in sports drinks category as several companies are using it as a chief component in their energy drink. It is also widely-accepted in the feed industry. Increasing food & beverage industry can trigger its intake as well.
Product and application are segments in which the study of the market for Vitamin B12 (Cyanocobalamin) can be segmented. These two segments have been further sub-segmented to get into details of factors that can impact the global market in the coming years.
By product, the market for Vitamin B12 (Cyanocobalamin) can be segmented into 0.98, 0.02, and 0.01. All these segments are gaining momentum as their specific needs for exclusive clients are providing substantial thrust to the market.
By application, the market for Vitamin B12 (Cyanocobalamin) includes pharmaceutical industry, food industry, and feed industry. In pharmaceutical industry, it is getting easy percolation in the manufacturing of diverse drugs and health drinks. The feed industry is also receiving substantial investment in this regard.
The Vitamin B12 (Cyanocobalamin) market has better positioning in North America and Europe. These two regions are known for their extensive investment capacity and research ability. Major companies are also from this region, which is providing an advantage to these regions. High disposable income and better awareness regarding nutrients and vitamins are expected to give these markets some leverage.
The APAC market is making substantial progress owing to increasing per capita income and a massive population. Various companies are trying to tap these factors for their personal gains, which can trigger growth.
Key Players of Global Vitamin B12 (Cyanocobalamin) Market =>
The market for Vitamin B12 (Cyanocobalamin) is gaining traction from several companies as they are increasing their investment in the global market to develop various tactical moves. The intent is to cement their own market status and assist a better permeation for the market across industries. This report includes several names and tracks their recent contributions to gauge the market flow of the coming years. These companies are Sanofi, Hebei Yufeng Group, Ningxia Kingvit Pharmaceutical, VICTOR, Hebei Huarong Pharmaceutical, and others.
In September 2019, Major League Soccer (MLS) declared that they have inked a multi-year partnership with BodyArmor. This makes the latter the official sports drink for MLS in 2020. The drink contains Vitamin B12 (Cyanocobalamin) as one of the most significant ingredients. This particular vitamin is known for its ability to increase strength, something that players require a lot while performing.
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