Thiamine Hydrochloride Market Size Will be Expected to Grow at a CAGR of 4.3% By 2027 | Reports and Data

 

The global thiamine hydrochloride market is expected to reach USD 272.6 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of thiamine hydrochloride, a white or nearly white crystalline powder.

Thiamine hydrochloride helps in enhancing the body immunity. It is beneficial in improving the overall well-being of the human body, along with the prevention of complications in the nervous system, aerobic metabolism, cell growth, and acetylcholine synthesis, among others. It is required by the body to maintain the proper flow of electrolytes into and out of nerve cells. Moreover, it aids in preventing several disorders, including Wernicke-Korsakoff syndrome (WKS), which if left untreated can lead to permanent memory loss.

Rising geriatric population is likely to boost the growth of the thiamine hydrochloride market in the upcoming years. As per the Global Health and Aging report published by the WHO (World Health Organization), the number of people aged 65 years or older is estimated to increase from a projected 524 million in 2010 to approximately 1.5 billion by 2050, with a significant percentage of increase in developing economies. Additionally, the number of people aged 65 years or older is anticipated to considerably surpass children younger than 5 years of age by 2050.

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Key participants include Xinfa Pharmaceutical Co. Ltd., Wuxi Weikang Curative Chemical Co. Ltd., TCI Chemical, Huazhong Pharmaceutical Co. Ltd., Hubei Jusheng Technology Co. Ltd., Shanghai Science Biotechnology Co. Ltd., Beijing Yunbang Biosiciences Co. Ltd., Haihang Industry Co. Ltd., Qcbio Science & Technologies Co. Ltd., and DSM Nutritional Products AG, among others.

Further key findings from the report suggest

• By grade, the feed grade thiamine hydrochloride held a substantial market size in 2018. Feed grade product are meant to cater to the needs of the animal owing to various changes arising from factors, comprising genetic lines, the influence of changing seasons, and diverse animal physiologies, among others.
• By distribution channel, the offline distribution channel contributed to the largest market share in 2018 and is expected to grow at a rate of 3.4% in the forecast period. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
• By application, food & beverage applications held the largest market share in 2018 and is expected to grow at a rate of 4.1% in the forecast period.
• The market in the Asia Pacific region dominated market share in 2018 and is forecasted to grow at a rate of 4.9% in the forecast period. Growing inclination to maintain a healthy wellbeing, increase in population, and a rise in the level of disposable income are among the reasons that drive the growth of the market in the region.

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Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Food Grade
• Feed Grade
• Pharmaceutical Grade

Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Online
• Offline

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

• Animal Feed
• Pharmaceutical
• Personal care & Cosmetics

Key Regional Markets Covered in the Report:

·       North America (U.S.A., Canada, Mexico)

·       Europe (Italy, U.K., Germany, France, Rest of Europe)

·       Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)

·       Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

 

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 Key Questions answered by the Report:

·       What is the expected year-on-year growth of the during the forecast period?

·       What key trends are expected influence revenue growth of the market going ahead?

·       Which region is expected to account for largest revenue share over the forecast period?

·       Which key companies are profiled in the report?

 

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