The global pantothenic acid market was valued at US$ 460.3 million in 2020, according to Global Pantothenic Acid Market Report, by Form (Powder and Tablets), by Source ( Plants Animals, and Dairy Products), by Nature (Organic and Inorganic), by End Use (Pharmaceuticals, Nutritional & Dietary Supplements, Animal Health & Nutrition, Infant Food & Supplements, and Food & Beverages), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global pantothenic acid market is expected to reach at US$ 750.7 million by 2028 and is expected to exhibit a CAGR of 6.2% during the forecast period (2021-2028).
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Browse 25 market data tables* and 20 figures* on "Pantothenic Acid Market” - Global Forecast to 2028.
Key Trends and Analysis of the Global Pantothenic Acid Market:
- Among regions, Asia Pacific accounted for a significant market share in 2020. This is attributed to the exponential population growth with growing disposable income in China, India, Japan, and other South Asian countries. The leading country-level in the Asia-Pacific region is China. Several functional foods use pantothenic acid as an ingredient. In this region, the consumption of functional foods is increasing due to the increasing per capita disposable income, urbanization, and rising concerns for nutrition deficiency.
Key Takeaways of the Market:
- On the basis of source, pantothenic acid market is segmented into plants, animals, and dairy products. Almost all plant based foods contain pantothenic acid in varying amounts. Some of the richest dietary sources include beef, chicken, organ meats, whole grains, and some vegetables. Pantothenic acid is added to various foods, including some breakfast cereals and beverages (such as energy drinks). The human body absorbs 40%–61% (or half, on average) of pantothenic acid from foods.
- Major 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.
- Key players operating in the global pantothenic acid market are focusing on adoption of various growth strategies to expand their business operations and regional presence. For instance, on October 19, 2021, Koninklijke DSM N.V completed the acquisition of First Choice Ingredients for an enterprise value of US$ 453 million. This acquisition by DSM will be highly synergetic for both companies. This acquisition will help DSM can further to accelerate the growth of First Choice Ingredients by offering their products outside the U.S. to DSM’s broad global customer base and integrating their solutions in DSM’s full offering on taste, texture and health in sustainable solutions for Food & Beverage customers.
Global Pantothenic Acid Market - Impact of Coronavirus (COVID-19) Pandemic
- The global pantothenic acid market has been negatively impacted to some extent due to the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown, travel restrictions, and shutting down manufacturing facilities. Moreover, the unavailability of raw material required for manufacturing pantothenic acid hampered the demand for pantothenic acid. However, restarting of international trade and ease of trade restrictions is expected to drive demand for pantothenic acid in the upcoming years. Moreover, loosening of restrictions and reopening of manufacturing facilities is expected to boost demand for pantothenic acid over the post-pandemic period.
- Key players operating in the global pantothenic acid market are tier I and tier II players. These players have their manufacturing and distribution facilities across various regions such as Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in demand for pantothenic acid across the globe, thereby restraining the market growth.