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.
|Base Year:||2020||Market Size in 2020:||US$ 460.3 Mn|
|Historical Data for:||2017 – 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||6.2%||2028 Value Projection:||US$ 750.7 Mn|
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.
|Restraints & Challenges:||
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.
Pantothenic acid is also known as vitamin B5 and is a water-soluble vitamin that is a precursor in the synthesis of coenzyme A. Pantothenic acid is essential to various biochemical reactions that sustain life. Moreover, the phosphopantetheinyl moiety of coenzyme A is required for the biological activity of several proteins including the acyl-carrier protein involved in fatty acid synthesis. It is ubiquitously found in foods of plant and animal origin, and dietary deficiency is very rare
The demand for pantothenic acid is growing rapidly due to growing usage of pantothenic acid in the various applications. In addition to playing a role in the breakdown of fats and carbohydrates for energy, vitamin B5 is critical to the manufacturing of red blood cells, as well as sex and stress-related hormones produced in the adrenal glands, small glands that sit atop the kidneys. Vitamin B5 is also important in maintaining a healthy digestive tract, and it helps the body use other vitamins, particularly B2 (also called riboflavin).
However, various factors such as lack of awareness regarding pantothenic acid, and dearth of universal directives pertaining to applications of pantothenic acid are expected to restrain the pantothenic acid market growth. Moreover, the potential for side effects and interactions of pantothenic acid with medications, it should be taken only under the supervision of a knowledgeable health care provider.
Major players operating in the global pantothenic acid market are adopting various organic and inorganic growth strategies such as expansion, joint venture, collaboration, strategic alliances, new product launches, and others to increase their global reach and business operations. For instance, on July 27, 2021, Koninklijke DSM N.V a global science-based company in Nutrition, Health and Sustainable Living, acquired Midori USA, Inc. (Midori), a biotechnology start-up with a novel precision platform developing breakthrough targeted eubiotics that improve the health and environmental impact of animals. DSM already owns 38.5% of the shares of Midori and has acquired the remaining 61.5% for a consideration of US$ 63 Million.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.