What is Niacinamide?
Niacinamide, also known as nicotinamide, is a form of vitamin B3. It is a water-soluble vitamin that plays an important role in many physiological functions in the body. Niacinamide is commonly used in skincare products due to its many benefits for the skin.
Niacinamide is generally considered safe for topical use on the skin, and is well-tolerated by most people. It can be found in a variety of skincare products, including creams, serums, and masks. However, if you have any concerns about using niacinamide on your skin, it's always best to consult with a dermatologist or other qualified healthcare provider.
Some of the benefits of niacinamide for the skin include:
Helps to reduce inflammation and redness
Helps to improve the appearance of fine lines and wrinkles
Helps to improve skin elasticity
Helps to lighten hyperpigmentation and dark spots
Helps to regulate oil production in the skin
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Niacinamide Market –
The niacinamide market size was valued at $546.08 million in 2021, and is estimated to reach $832.4 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
The market is driven by the increasing incidence of skin cancer, growing awareness about the disease, and technological advancements in Niacinamide. The increasing use of immunotherapy and targeted therapy for the treatment of skin cancer is also contributing to the growth of the market.
The Niacinamide market includes various products and services used for the prevention, diagnosis, and treatment of skin cancer.
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By application, the cosmeceutical segment held a dominant portion in the global niacinamide market in 2021. The segment is expected to grow at the fastest rate with a CAGR of 4.8% during the forecast period.
According to the type, based on niacinamide market analysis, liquid was the largest segment in 2021, and is expected to grow at a highest CAGR of 5.0% during the niacinamide market forecast period, owing to increase in usage of niacinamide solutions that are used in skin treatments, rising concerns about skin care, and large number of product offering by market players.
By distribution channel, the drug stores & retail pharmacies segment owned the largest niacinamide market share in 2021. On the other hand, the online pharmacies segment is expected to grow at the highest CAGR during the forecast period, owing to easy accessibility, time saving, and heavy discounts & offers provided by these online platforms, which also boosts sales of niacinamide containing medications.
Region wise, in niacinamide industry, North America acquired a major share, owing to presence of key players, rise in government initiatives, well-developed healthcare infrastructure, and rise in prevalence of health issues. However, Asia-Pacific is expected to witness highest growth rate with a CAGR of 6.1% for the niacinamide market throughout the forecast period.
Major companies profiled in this niacinamide industry include
Brother Enterprises Holding Co., Ltd,
Evonik Industries AG,
Fagron Inc,
Foodchem International Corporation,
Glossier, Jubilant Life Sciences Limited,
Koninklijke DSM N.V,
Lasons India Pvt Ltd,
Lonza Group,
Merck KGAA, and Veer Chemie, Vertellus.
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