Market Report: Market for Vitamin B12 Continues to Grow

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The new market research report “Global Vitamin B12 (Cobalamin, Cyanocobalamin) Market Professional Survey Report 2018” by MarketResearchNest discusses the global market for vitamin B12, and provides various forecasts up to the year 2025.

Cyanocobalamin is an artificial form of vitamin B12, which is important for growth, cell proliferation, hematopoiesis and protein and tissue synthesis. Vitamin B12 is also used to treat many different diseases. The global market for vitamin B12 (cobalamin, cyanocobalamin) was estimated at $310 million in 2017, and will reach $400 million by the end of 2025, representing an annual growth of 3.1%. This development could be strongly related to the growing vegan trend. Vegan diets often lack vitamins such as cobalamin and cyanocobalamin. Vegans are therefore partially dependent on B12 supplements. In addition, cyanocobalamin drugs are used in hospitals, clinics and pharmacies.