The global niacinamide market size was USD 639.3 Million in 2020 and is expected to register a revenue CAGR of 2.6% during the forecast period. Increasing use of topical niacinamide to improve appearance of aging facial skin, treat skin diseases, and reduce hyperpigmentation is a key factor driving market revenue growth. Rising number of clinical research studies to explore the pharmaceutical and cosmetic applications of niacinamide would also propel market growth. Supplementation of niacinamide as an essential nutrient is highly beneficial for skin and the overall body, and over recent years, extensive research has been carried out to explore its potential in the prevention and treatment of cancer, wound healing, psoriasis, pigmentation disorders, acne vulgaris, and blistering disorders.
It is also widely used in cosmetics for slowing the progression of skin aging and brightening skin tone. Increasing focus on enhancing aesthetic appearance and growing need to maintain skin health among geriatric populations are contributing to increasing demand for cosmetics containing niacinamide.
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Niacinamide is the amide form of water-soluble vitamin B3 and is a component of coenzymes such as Nicotinamide Adenine Dinucleotide (NAD), NADH, NADP, and NADPH. It is the active form of vitamin B3 and offers multi-purpose benefits in skincare by acting as a potent conditioning ingredient in skincare and hair care products. Niacinamide inhibits the production of prostaglandins and decreases the level of enzymes that degrade extracellular matrix while increasing the level of collagen. Niacinamide also enhances the functional integrity of skin barrier by elevating lipid and fatty acids synthesis. It plays a crucial role in skin homeostasis by efficient regulation of redox status of skin cells and various metabolites that are generated.
Niacinamide supplementation to human cells enhances replicative lifespan and halts the progression of senescence. It also exhibits anti-inflammatory effects by inhibiting Nuclear Factor kappa B (NF-kB), reduces production of inflammatory cytokines IL-1 and IL-2, inhibits degranulation of mast cells, and prevents migration of leukocytes into the skin. Niacinamide is beneficial to health as it increases protein and keratin synthesis, stimulates ceramide synthesis, and accelerates differentiation of keratinocytes, which in turn, stabilizes the epidermal barrier function. On ageing skin, it has a wrinkle-smoothing effect, inhibits photocarcinogenesis, and elevates intracellular NADP levels. These factors have boosted use of niacinamide in cosmeceuticals that are used in treating disorders of epidermal barrier function, improving pigmentation disorders, enhancing ageing skin, and on skin types prone to acne. Growing preference for cost-effective, non-invasive methods to enhance skin appearance and increasing availability of a wide range of over-the-counter treatments would significantly contribute to market growth.
Niacinamide is also extensively explored for its skin lightening properties as it acts as a tyrosinase inhibitor and prevents transfer of melanosomes to keratinocytes. It also reduces sebum production on the face, which makes it an important ingredient for people who desire skin rejuvenation but are prone to acne. It has further boosted use of niacinamide in cosmetic ingredients such as face serum and moisturizers. However, certain side effects such as rash, itching, upset stomach, gas, or allergic reaction can decrease demand for these products among some individuals and hamper market growth to a certain extent.
Driver: Increasing Benefits of Niacinamide for Skin and Overall Health
Niacinamide has a critical function in DNA repair, cellular energy metabolism, and transcription regulation. Robust anti-inflammatory and sebostatic role of niacinamide has increased its use as an anti-acne topical formulation. Niacinamide-infused moisturizers are highly effective in treatment of atopic dermatitis as niacinamide decreases transepidermal water loss and increases the level of free fatty acids. It also boosts collagen production and reduces dermal aminoglycoside in photodamaged skin. Topical application of niacinamide significantly reduces detectable area of facial spots and pigmentation.
In addition, niacinamide is also extensively used in treatment of autoimmune skin disorders such as localized bullous pemphigoid and dermatitis herpetiformis. Niacinamide replenishes cellular energy, prevents over activation of PARP-1 gene that is involved in cell senescence, cancer, and ageing, as well as provides protection against UV-induced immunosuppression. Some research studies also indicate its potential in reducing the number of cases of non-melanoma skin cancer, which has increased the need for further research to explore the potential of niacinamide in prevention of skin cancers. Increasing investment in accelerating R&D activities, use of niacinamide as adjunct in the treatment of dermatological disorders, and as topical and oral drug with little to no adverse effects are expected to further fuel revenue growth of this market over the forecast period.
Restraint: Side effects Associated with Long-term Use of Niacinamide
Niacinamide is a well-tolerated and safe cosmetic product, however, its long-term use at high doses can cause severe side effects to liver and other organs. Some clinical studies suggest that severe metabolic and epigenetic changes are observed in animals linked with long-term administration of very high doses of niacinamide. Niacinamide is well-tolerated by the skin at normal conditions but can cause irritation, flushing, or stinging sensation if high concentration of niacinamide is used. Oral niacinamide can cause nausea, diarrhea, heartburn, and gas among individuals. In addition, high doses of niacinamide can elevate levels of histamine in serum that can cause allergic reactions in people susceptible to skin allergies. These factors can limit adoption of niacinamide in cosmetics and pharmaceutical products.
Based on grade, the global niacinamide market has been segmented into pharmaceutical grade and feed grade. Pharmaceutical grade segment is expected to account for the largest revenue share in the global market over the forecast period, owing to increasing demand for pharmaceutical grade niacinamide in the production of cosmeceuticals, pharmaceutical products, and in development of therapeutics for autoimmune and other skin disorders. Availability of high-quality nutraceuticals and pharmaceutical grade niacinamide at cost-effective prices is another key factor contributing to revenue growth of this segment. This grade of niacinamide is used as a pharmaceutical reference standard for determining analyte concentration in plasma, pharmaceutical formulations, and nutritional formula powders.
Feed grade segment is expected to register a steady revenue share over the forecast period, attributable to increasing supplementation of niacinamide in animal feed to improve weight gain, optimize feed intake, boost absorption of nutrients, and enhance overall health of livestock. Supplementing niacinamide in foods given to animals can help prevent health conditions associated with vitamin B3 deficiency and is considered as an effective source of niacin in animal nutrition, which is expected to further boost demand for feed grade niacinamide.
Based on form, the global niacinamide market has been segmented into granular, powder, and liquid. Granular segment is expected to register a robust revenue CAGR over the forecast period, owing to increasing use of granular niacinamide in vitamin B3 dietary supplements, including tablets and hard shell capsules. Granular niacinamide is also used in multivitamins, bakery products, animal feed fortification, and cosmetics. Availability of granular niacinamide that is highly pure, has good quality, and is stable during processes is another factor expected to contribute to revenue growth of this segment.
Powder segment is expected to account for a large revenue share over the forecast period, attributable to increasing usage of powdered niacinamide in food and beverages, nutrition powders, bakery mixes, and cereals, among others. Niacinamide powder is a white, crystalline power that can be mixed in water-based treatments to apply on face and skin for skin whitening, pore and acne reduction, and anti-ageing purposes. It further treats enlarged pores and irregular skin texture and helps in maintaining functional and structural integrity of skin, which is further boosting its adoption as a skincare product.
Based on end-use, the global niacinamide market has been segmented into pharmaceutical, cosmeceutical, human nutrition, and animal nutrition. Pharmaceutical segment is expected to dominate in terms of revenue over the forecast period, attributable to increasing application of niacinamide in the treatment of autoimmune skin disorders, persistent acne, skin lesions, diabetes mellitus, and osteoarthritis. It is also used in the prevention of cancer, vitamin B3 deficiency, and associated conditions such as pellagra. Niacinamide is commercially available as a dietary supplement and has been widely used to treat various disease conditions such as inflammatory diseases and dementia – in both humans and animals. Niacinamide supplementation has also proven to have protective effects against certain types of skin cancer and non-melanoma skin cancers in high-risk individuals. It minimizes the probability of developing rough scaly patches and these key factors are expected to further drive revenue growth of this segment.
Based on regional analysis, North America is expected to account for the largest revenue share in the global market over the forecast period, attributable to increasing consumption of niacinamide in the form of cosmetics, dietary supplements, bakery products, and multivitamin supplements. Increasing consumer shift from prescription medicines to over-the-counter treatments such as cosmeceuticals due to lack of adequate insurance coverage for medications used to treat photoaging skin is also anticipated to propel growth in this region. In addition, availability of a wide range of products and increasing affordability of these products are key factors expected to continue to drive revenue growth of the North America market. Furthermore, presence of established healthcare infrastructure, expanding network of dermatology clinics, and robust presence of key pharmaceutical and cosmetic companies in this region are some other key driving factors.
Asia Pacific is expected to register robust revenue CAGR over the forecast period, owing to increasing demand for efficient cosmetics and cosmeceutical products due to rising disposable income of people and growing healthcare expenditure. In addition, increasing number of clinical research studies, availability of a wide range of affordable over-the-counter medications, and presence of a large number of pharmaceutical and cosmeceutical companies in the region would boost market growth.
Europe market is expected to register a steady revenue share during the forecast period, attributable to increasing usage of feed grade niacinamide to prevent growing incidence of diseases in cattle and livestock, high demand for dietary supplements, and rapid adoption of niacinamide-based skin and hair care products.
The global niacinamide market is fragmented with the presence of many players operating on a global and regional scale. Key players are engaged in product development and strategic alliances to cater to growing global demand and gain a robust footing in the market. Some major companies profiled in the market report are Lonza Group, Vertellus, Vanetta, Zhejiang Lanbo Biotechnology, Foodchem International Corporation, Merck KGaA, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., BASF SE, and Lasons India.
Some Strategic Developments in the Market Include:
- In October 2021, TRI-K Industries, Inc. introduced niacinamide-peptides called Fision GlowPlex to enhance skin radiance, support homogenous skin tone, blur skin imperfections, and lower the appearance of hyperpigmentation and dark spots.
In a quasi-experimental study conducted in two large tertiary care hospitals on a cohort of 201 hospitalized adult patients, efficiency of niacinamide to improve outcomes in patients with COVID-19-related Acute Kidney Injury (AKI) was assessed. The study was carried out to understand and evaluate the association of niacinamide therapy and outcomes in patients with COVID-19-related AKI. According to results, niacinamide was associated with lower risk of RRT or death, and also improved creatinine graph in patients with severe COVID-19 related AKI. Results have emphasized a need for larger randomized studies to establish a proper, detailed relationship between the two factors.
Segments Covered in the Report:
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented the global niacinamide market based on grade, form, end-use, and region:
Niacinamide Market Report Scope
Segments covered By Grade Outlook, Form Outlook, End-use Outlook, Regional Outlook
By Grade Outlook
By Form Outlook
By End-use Outlook
Middle East & Africa
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