Riboflavin is a nutrient required for the body's metabolism. This vitamin deficiency may hamper the metabolism of other nutrients. Those who have this deficiency will have lower levels of flavin coenzymes. They could develop cataracts or anemia as well. Anorexics severely limit their calorie intake, which causes them to be undernourished. Although riboflavin has nutritional benefits, it can also have several adverse side effects.
Nowadays, food fortification is done to support health and wellness rather than to stop micronutrient malnutrition as it was in the past. By increasing the healthier qualities of baked foods, fortification gives manufacturers a chance to increase the value of their product categories. Numerous government initiatives are being implemented to increase the consumption of fortified foods and beverages, particularly in developing countries. Due to growing consumer demand for fortified foods and beverages with bioactive and essential vitamins and growing consumer awareness regarding vitamin B2/riboflavin deficiency, manufacturers are actively expanding their product offerings with the fortification of riboflavin to meet ongoing consumer demand. As a result, consumers' increased consumption of fortified foods and beverages—fueled by a high demand for the products' bioactive ingredients, like Vitamin B2/riboflavin—is the main factor driving the market's growth.
In the past several years, organic poultry production has considerably risen to meet the rising customer demand for organic eggs and meat. Most of the riboflavin currently on the market, specifically Vitamin B2 (80% grade), is produced through fermentation using genetically modified strains and used as a feed additive. To grow, pigs and chickens require the nutrient riboflavin. Mortality rises due to shortages' effects on the neurological system, gastrointestinal tract, and sex organs. Vitamin B2 is added to animal feed because it is too low in cereals. This demonstrates the necessity of riboflavin in animal feed for the sector. Since organic livestock and poultry production is expected to increase during the forecast period, riboflavin has potential and will be a promising market.
Asia-Pacific is the most significant contributor to the global riboflavin market and is expected to grow at a CAGR of 7.97% during the forecast period. The middle class in China is becoming more affluent, and they are also becoming more health conscious, which has increased demand for fortified foods and beverages that contain vitamins and minerals, among other nutrients. This demand has fueled the expansion of the riboflavin market in China over the last few years. Due to growing consumer awareness of dietary supplements that improve memory, control blood pressure, and boost energy, the demand for vitamin B2, also known as riboflavin supplements, has risen. In addition, manufacturers like L-GA, who work in the confectionery industry, are stepping into the vitamins, minerals, and supplements market by offering candy vitamins called MultiVita C365, which is enriched with vitamins B2, B6, and C for energy production in the body, the formation of connective tissue, and amino acid metabolism.
Recent governmental initiatives significantly impact China's animal feed additives market. The nation's efforts to modernize and find efficiency in its structure and practices, as well as the rising demand for meat and animal products to meet the protein needs of the growing population, are two significant factors driving the growth of animal feed additives like riboflavin in the market.
Europe is expected to grow at a CAGR of 6.10% during the forecast period. Germans are choosing fortified foods, beverages, and supplements due to their increased awareness and demand for the riboflavin ingredients used in these products. According to the German Migraine and Headache Society (DMKG), Headaches are extremely common. More than 10 million people in Germany experience migraines, and at least 3 million deal with chronic headaches daily. As Germany's aging population consumes more nutritive products due to growing health concerns, there is a rising demand for vitamin and mineral components like riboflavin for functional and fortified food, beverages, and supplements. A significant rise in vegan consumers drives the market's growth.
The global riboflavin market’s major key players are
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