Vitamin B12 Market

Vitamin B12 market is projected to grow at a CAGR of 6.2% between 2025 and 2035. The market growth is primarily driven by rising health awareness, the increasing prevalence of vitamin B12 deficiencies, and growing demand from the pharmaceutical, nutraceutical, and animal nutrition sectors. As consumers shift toward preventive healthcare and dietary supplementation, Vitamin B12 has emerged as a key ingredient in multivitamin formulations.

Among product types, Cyanocobalamin dominates the market due to its cost-effectiveness, stability, and widespread use in oral and injectable forms. However, Methylcobalamin is gaining traction due to its superior bioavailability and preference in neurological treatments. The pharmaceutical segment remains the largest application area, supported by increasing clinical applications for anemia, neuropathy, and fatigue-related disorders.

Geographically, Asia-Pacific is the fastest-growing and largest market, led by China and India, which serve as both major consumers and manufacturers of Vitamin B12. The presence of a strong generic drug manufacturing base and increasing government focus on nutrition-based health interventions in these countries contribute significantly to regional growth. In contrast, North America and Europe continue to hold substantial shares due to established pharmaceutical industries and a rising aging population that requires dietary supplements.

Prominent players in the market include BASF SE, Hebei Huarong Pharmaceutical Co., Ltd., Dishman Carbogen Amcis Ltd., Zhejiang NHU Co., Ltd., and Luwei Pharmaceutical Group Co., Ltd. These companies focus on expanding their production capacity, leveraging fermentation-based technologies, and forming strategic partnerships to meet the growing global demand.