Surging demand for Thiamine hydrochloride as a nutritional supplement is one of the significant factors influencing the market growth.
The global thiamine hydrochloride market is expected to reach USD 272.6 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of thiamine hydrochloride, a white or nearly white crystalline powder.
Thiamine hydrochloride helps in enhancing the body immunity. It is beneficial in improving the overall well-being of the human body, along with the prevention of complications in the nervous system, aerobic metabolism, cell growth, and acetylcholine synthesis, among others. It is required by the body to maintain the proper flow of electrolytes into and out of nerve cells. Moreover, it aids in preventing several disorders, including Wernicke-Korsakoff syndrome (WKS), which if left raw can lead to permanent memory loss.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launch, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Xinfa Pharmaceutical Co. Ltd., Wuxi Weikang Curative Chemical Co. Ltd., TCI Chemical, Huazhong Pharmaceutical Co. Ltd., Hubei Jusheng Technology Co. Ltd., Shanghai Science Biotechnology Co. Ltd., Beijing Yunbang Biosiciences Co. Ltd., Haihang Industry Co. Ltd., Qcbio Science Technologies Co. Ltd., and DSM Nutritional Products AG, among others.
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The Thiamine Hydrochloride market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Animal Feed
- Pharmaceutical
- Personal care Cosmetics
Key Regions Analyzed in the Report includes:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Furthermore, it consists of information about individual segment of the Thiamine Hydrochloride market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- By grade, the feed grade thiamine hydrochloride held a substantial market size in 2018. Feed grade product is meant to cater to the needs of the animal owing to various changes arising from factors, including genetic lines, the influence of changing seasons, and diverse animal physiologies, among others.
- By distribution channel, the offline distribution channel contributes to the largest market share in 2018 and is expected to grow at a rate of 3.4% in the forecast period. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
- By application, food beverage applications held the largest market share in 2018 and is expected to grow at a rate of 4.1% in the forecast period.
- The market in the Asia Pacific region dominated market share in 2018 and is forecasted to grow at a rate of 4.9% in the forecast period. Growing inclination to maintain a healthy wellbeing, increase in population, and a rise in the level of disposable income are among the reasons that drive the growth of the market in the region.
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