The need for fortified foods and beverages is boosting the market for riboflavin. The Food Fortification Initiative estimates that 31% of the industrially milled wheat flour consumed worldwide is fortified. Iron, zinc, and the B vitamins folic acid, riboflavin, niacin, thiamin, vitamin B12, and vitamin B6 are the nutrients that are most frequently supplemented. Riboflavin's widespread use and multifaceted functionality are additional factors that are projected to support market expansion. The riboflavin/vitamin B2 has a wide range of uses, including the food processing business as well as the cosmetic, pharmaceutical, and animal feed industries.
The global Riboflavin Market was valued at US$ 397 Mn in 2021 and is forecast to reach a value of US$ 670.23 Mn by 2030 at a CAGR of 6.65% between 2022 and 2030.
Key Manufacturers in the Riboflavin Industry:
1. BASF SE
Founded in 1856 is a chemical manufacturing company that include the sectors materials, industrial solution, surface technology, Nutrition and agricultural solutions. Operational in more than 90 countries. Headquarters in Ludwigshafen, DE.
2. Koninklijke DSM N.V.
Koninklijke DSM N.V., a science-based company, engages in nutrition, health, and sustainable living businesses. The company was founded in 1902 and is headquartered in Heerlen, the Netherlands
3. Xinfa Pharmaceutical Co. Ltd
XINFA was founded in 1998. Their main products include: D-calcium pantothenate, Folic acid, Vitamin B1, Vitamin B6, Beta-alanine, D-panthenol, sucralose. The company has headquarters situated in Amsterdam, USA.