Pantothenic acid is an essential nutrient that is naturally present in foods, and available as a dietary supplement. Pantothenic acid is also called vitamin B5 and is a water-soluble vitamin. The main function of this water-soluble B vitamin is in the synthesis of coenzyme A (CoA) and acyl carrier protein. Pantothenic acid is widely consumed and used vitamin.
The global pantothenic acid market is estimated to surpass US$ 750.7 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 6.2% during the forecast period (2021 to 2028).
Overall health benefits pantothenic acid provides to the human body are driving the market growth. The pantothenic acid is largely used to cure diseases such as asthma, problems related to digestion, allergies and infections such as yeast infection, problems related to heart and others. The importance of pantothenic acid is it activates the metabolism in the body and breaks down the proteins, carbohydrates, and fats to produce energy in the body. The deficiency of pantothenic acid can cause various problems such as fatigue, depression, and infections related to the respiratory tract.
Among regions, Asia Pacific held dominant position in the global pantothenic acid market in 2020, accounting for 39.2% market share, in terms of revenue, followed by North America and Europe.
Figure 1. Global Pantothenic Acid Market Revenue Share (%), By Region, 2020
Less awareness regarding health benefits associated with pantothenic acid in the emerging economies such as majority of African countries is expected to hamper the market growth over the forecast period.
The pantothenic acid is used in the fortification of several food products, infant nutrition, and animal feed. The rapidly increasing processed food industry, infant nutrition products, and animal feed products is creating a strong demand for pantothenic acid. Thus, players operating in this market are offering, pantothenic acid as a dietary supplement to prevent deficiency of vitamin B5, which is vital for the healthy living of an individual.
Pantothenic Acid Market Report Coverage
||Market Size in 2020:
||US$ 460.3 Mn
|Historical Data for:
||2017 – 2019
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 750.7 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, ASEAN, South Korea, Australia, and Rest of Asia Pacific
- Middle East & Africa: Middle East and Africa
- By Form: Powder and Tablets
- By End Use: Pharmaceuticals, Nutritional &Dietary Supplements, Animal Health & Nutrition, Infant Food & Supplements, and Food & Beverages
- By Source: Plants, Animals, and Dairy Products
- By Nature: Organic and Inorganic
Nutrina Co., Inc., Zhengzhou Sigma Chemical Co., Ltd., Watson Inc., Cayman Chemical, CHEM-BRIDGE Co., Ltd, Foodchem International Corporation, Koninklijke DSM N.V., RxList Inc., NOW Health Group, Inc., BASF SE, AccuStandard Inc., Merck KGaA, Toronto Research Chemicals, AcerChem International Inc., and Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd.
- Overall health benefits that the acid provides to the human body
- The rapid increase in the food processing industry across the globe
|Restraints & Challenges:
- Lack of awareness about pantothenic acid
Figure 2. Global Pantothenic Acid Market – Opportunity Analysis
On the basis of form, global pantothenic acid market can be segmented into powder and tablets. Powder segment is expected to hold 64.8% of market share due to growing demand for powder pantothenic acid. The importance of pantothenic acid is it activates the metabolism in the body and breaks down the proteins, carbohydrates, and fats to produce energy in the body.
Figure 3. Global Pantothenic Acid Market Revenue Share (%), By Form, 2020
Global Pantothenic Acid Market - Impact of Coronavirus (COVID-19) Pandemic
The global market for pantothenic acid has been impacted due to the ongoing COVID-19 pandemic. Several governments across the globe have imposed nationwide lockdowns to curb the spread of the virus, which resulted in the shutting down of businesses and ceasing of several economic activities. For instance, according to the International Monetary Fund’s 2020 report, the global economy had contracted sharply by 3.0% in 2020, which is worse than the 2008-09 financial crisis. Moreover, the reduced demand for fertilizers and pesticides has indirectly led to low demand for the humic sector across the agricultural sector. However, increasing demand for pharmaceutical drugs, nutritional, and dietary supplements is expected to increase demand for pantothenic acid across the pharmaceuticals sector.
Key players operating in the global pantothenic acid market include Nutrina Co., Inc., Zhengzhou Sigma Chemical Co., Ltd., Watson Inc., Cayman Chemical, CHEM-BRIDGE Co., Ltd, Foodchem International Corporation, Koninklijke DSM N.V., RxList Inc., NOW Health Group, Inc., BASF SE, AccuStandard Inc., Merck KGaA, Toronto Research Chemicals, AcerChem International Inc., and Zhejiang Hangzhou Xinfu Pharmaceutical Co., Ltd.