Vitamin B6 (Pyridoxine) Market Size, Share, Growth, and Industry Analysis, By Type (Food Grade Vitamin B6, Feed Grade Vitamin B6, Pharmaceutical Grade Vitamin B6), By Application (Food, Feed, Health Care Products, Other), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Vitamin B6 (Pyridoxine) Market Report Overview

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The global vitamin B6 (Pyridoxine) market size was USD 88 million in 2023 and is projected to touch USD 125.7 million by 2031, exhibiting a CAGR of 4.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with vitamin B6 (Pyridoxine) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Vitamin B6, also known as pyridoxine, is one of the essential B vitamins that plays a crucial role in various bodily functions. It is a water-soluble vitamin, meaning it is not stored in the body and needs to be replenished regularly through diet or supplements.

Vitamin B6 (Pyridoxine) is involved in more than 100 enzymatic reactions in the body. Metabolism helps convert food into energy by assisting in the metabolism of carbohydrates, proteins, and fats. Neurotransmitter synthesis is necessary for the production of neurotransmitters like serotonin, dopamine, and gamma-aminobutyric acid (GABA), which play a role in mood regulation, sleep, and cognition. Hemoglobin synthesis aids in the production of hemoglobin, the protein responsible for carrying oxygen in red blood cells.

COVID-19 Impact: Pandemic Hampered the Demand for Market

The COVID-19 pandemic has had various impacts on different sectors, including the Vitamin B6 (Pyridoxine) Market. The pandemic led to disruptions in global supply chains, including the production and distribution of various ingredients and raw materials. This disruption could have affected the availability of Pyridoxine, leading to potential supply shortages or delays in the market. Restrictions and safety protocols implemented due to the pandemic, such as social distancing measures and temporary factory closures, may have affected the production and manufacturing processes of Vitamin B6. Reduced production capacity or temporary shutdowns could have resulted in a decrease in the overall supply of Pyridoxine. The economic impact of the pandemic, such as job losses and reduced incomes, may have influenced consumer spending habits. The purchase of dietary supplements, including Vitamin B6, might have been affected by these economic factors, leading to potential fluctuations in market demand.

Latest Trends

"Growing Awareness of Health Benefits to Fuel Market Growth"

Increasing consumer awareness regarding the importance of a balanced diet and nutritional supplements has contributed to the demand for vitamin B6 (Pyridoxine). Consumers are becoming more health-conscious and seeking products that promote overall well-being, which has positively impacted the market. Vitamin B6 is utilized in various industries, including food and beverages, pharmaceuticals, animal feed, and personal care products. It is often used as an ingredient in supplements, functional foods, and infant formula. The increasing adoption of dietary supplements and the growth of the functional food industry have driven the demand for Vitamin B6. With the growing focus on preventive healthcare, there has been an increased demand for fortified foods and beverages. Vitamin B6 is commonly used as a fortifying agent in a wide range of products, such as cereals, energy bars, and beverages. This trend is likely to continue as consumers seek convenient ways to incorporate essential nutrients into their diets.

Vitamin B6 (Pyridoxine) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into food grade vitamin B6, Feed grade vitamin B6, pharmaceutical grade vitamin B6.

• By Application Analysis

Based on application, the market can be divided into food, feed, health care products, other.

Driving Factors

"Growing Aging Population to Drive Market Growth"

With an increasing aging population worldwide, there is a greater need for supplements that support healthy aging and address age-related health concerns. Vitamin B6 (Pyridoxine) plays a vital role in maintaining cognitive function, reducing the risk of cardiovascular diseases, and supporting bone health, making it popular among the elderly population. The food and beverage industry extensively uses Vitamin B6 as an additive in various products. It is added to fortified cereals, infant formula, energy drinks, and nutritional bars, among other food and beverage products.

"Increased Demand for Vitamin among Population to Fuel Market Growth "

 The industry's demand for Vitamin B6 has contributed to the growth of the market. Vitamin B6 is used in the pharmaceutical industry for the production of medications and supplements. It is an essential ingredient in many prescription drugs and over-the-counter supplements due to its role in treating conditions like vitamin deficiencies, anemia, premenstrual syndrome (PMS), and nausea during pregnancy. The increasing demand for pharmaceutical products has driven vitamin B6 (Pyridoxine) market growth. The rise of e-commerce platforms has made it easier for consumers to access a wide range of dietary supplements, including Vitamin B6. Online retailing provides convenience, a wide product selection, and competitive pricing, which has contributed to the market growth by expanding the reach of Vitamin B6 products to a larger consumer base.

Restraining Factors

"Side Effects and Toxicity Concerns to Restrict Market Growth "

Excessive intake of vitamin B6 (Pyridoxine) can lead to adverse effects such as nerve damage, numbness, and tingling in the extremities. These concerns may affect consumer confidence and result in reduced demand for products containing Vitamin B6. The cost and availability of raw materials used in the production of Vitamin B6 can impact its market price. Factors such as changes in supply, weather conditions affecting agriculture, and geopolitical events can cause price fluctuations, affecting the profitability of manufacturers and influencing the market.

Vitamin B6 (Pyridoxine) Market Regional Insights

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"Presence of Key Players in North America Anticipated to Drive Market Expansion "

North America holds the leading position in vitamin B6 (Pyridoxine) market share due to its well-established pharmaceutical and dietary supplement industries. The demand for vitamin B6 in this region is driven by factors such as increasing awareness of health and wellness, a growing aging population, and the prevalence of dietary deficiencies.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are DSM, BASF, Huazhong Pharmaceutical, Tianxin Pharmaceutical, Acebright Pharmaceuticals Group, HuiSheng Pharma, Xinfa Pharmaceutical, Nanjing Pharmaceutical Factory, Hegno. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• DSM
• BASF
• Huazhong Pharmaceutical
• Tianxin Pharmaceutical
• Acebright Pharmaceuticals Group
• HuiSheng Pharma
• Xinfa Pharmaceutical
• Nanjing Pharmaceutical Factory
• Hegno

Report Coverage

This report examines an understanding of the vitamin B6 (Pyridoxine) market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.