Cyanocobalamin Market Growth Statistics, Size, Outlook to 2030

The global cyanocobalamin market or global cyanocobalamin (vitamin B12) market size is expected to grow from USD 160.79 billion in 2020 to USD 211.08 billion in 2027, with a CAGR of 3.9% during the forecast period (2021-2027). The deficiency of vitamin B12 among vegan consumers is the main reason for the growth of the cyanocobalamin market. Cyanocobalamin is a form of vitamin B12. Pure vegan products push vegan people towards anemia diseases, which leads to the deficiency of vitamin B12. The patients suffering from anemia diseases are in a state of urgent requirement of vitamin B12. Moreover, it leads to a rise in the cyanocobalamin market.

Factors Affecting the Cyanocobalamin Industry Over the Forecast Period:

Following a vegan diet, changing lifestyle, habits, and concerning health are some reasons leading to the growth of the cyanocobalamin market.
Infections, nerve damage, anemia diseases, fatigue, depression, digestive problems, and memory loss are some symptoms that occur due to the lack of vitamin B12, which increases the demand for cyanocobalamin supplements.
The major challenges for the cyanocobalamin market are better health products with fewer side effects, branding of a product, low cost, expansion of business, promotional business strategies, and others.
The chances of growth in this market are comparatively due to the increasing health-consciousness to improve their immunity.

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Impact of COVID-19 on Cyanocobalamin Market:

The crisis of the COVID-19 situation has been a driver of the growth in health products, especially in the vitamins market. Cyanocobalamin has witnessed considerable growth amidst the crisis, backed by the rising demand for medicinal products to boost immunity. Therefore, a considerable rise in global sales of cyanocobalamin is estimated by the end of 2020. Post COVID-19 pandemic, the demand for cyanocobalamin is expected to remain constant during the forecast period.

Scope of the Report

The report shows the outlook of cyanocobalamin market study based on the shape, class, end-users, and distribution channel.

Based on the shape, the cyanocobalamin market has been divided into-

Capsule
Power
Liquid
Tablets

Based on the class, the cyanocobalamin market has been divided into-

Pharmaceutical
Food

Based on the end-users, the cyanocobalamin market has been divided into-

Nutraceuticals
Dietary Supplements
Food Industry
Pharmaceutical

Based on the distribution channel, the cyanocobalamin market has been divided into-

Store-Based Retailing
Online Retailing

Cyanocobalamin Market: Regional Outlook

The global cyanocobalamin market has been divided into five regions respectively; North America, Europe, Asia Pacific, Middle East Africa, and South America. Out of these, North America held the largest share in the global cyanocobalamin market in 2020, followed by Europe and the Asia Pacific. North America is quite expected to dominate in the coming years and has the largest share in producing vitamin B12 products. Secondly, the Asia Pacific and Europe are expected to record the highest growth share in the coming years. The Asia Pacific and Europe have the largest share in the consumption of vitamin B12 products. Moreover, these countries are leading to the growth of the vitamin B12 (cyanocobalamin) market.

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Key Global Cyanocobalamin Market Competitors Includes –

The cyanocobalamin market has a presence of a few market players across the globe. The key cyanocobalamin players operating in the global market include –

ANGELINI
Bayer HealthCare
Biological E
Bristol-Myers Squibb
CCEPCD
Endo International
Huaxin Pharmaceutical
Jamieson
Luitpold Pharmaceuticals
Merck
Mylan
Pfizer
Sanofi-Aventis
Teva (Actavis).

The cyanocobalamin market report provides a thorough analysis of macroeconomic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs.

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Cyanocobalamin Market Report Covers Comprehensive Analysis On:

Market Segmentation Regional Analysis
Market Size of 10 years
Pricing Analysis
Supply Demand Analysis
Product Life Cycle Analysis
Porter's Five Forces Value Chain Analysis
Developed Emerging Economies Analysis
PEST Analysis
Market and Forecast Factor Analysis
Market Opportunities, Risks, Trends
Conclusion Recommendation
Regulatory Landscape
Patent Analysis
Competition Landscape
15+ Company Profiles

Cyanocobalamin Market Regional Analysis Includes:

North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

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