Riboflavin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global riboflavin market is segmented by Source into Plant and Animal Sources; by Form into Powder and Liquid; by Application into Food and Beverages, Dietary Supplements, Pharmaceuticals, Animal Feed, and Personal Care; and by Geography.

Market Snapshot

Riboflavin Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.5 %

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Market Overview

The global riboflavin market is growing at a CAGR of 4.5% during the forecast period (2020-2025).

  • The market for riboflavin is driven by the increased demand for riboflavin infused supplements owing to its multi-utility, which makes it extensively used in all sectors of the market across the world. Riboflavin is consumed through medicines due to increased vitamin deficiency found in most adults and infants. In addition, riboflavin is used as a part of various processed food as a coloring and fortifying agent, along with nourishment.
  • Riboflavin, also, plays an important role in the animal feed industry as a growth promoter. As riboflavin has high collagen, it is used to nourish the skin and hair, hence, it is promoted in cosmetic products.
  • In the segmentation font by application, dietary supplements segment, and pharmaceuticals segment accounts for the largest share owing to the rich vitamin B content in riboflavin.

Scope of the Report

Global riboflavin market has been segmented by source into plant and animal sources; by form into powder and liquid; and by application into food and beverages, dietary supplements, pharmaceuticals, animal feed, and personal care. Also, the study provides an analysis of the riboflavin market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Source
By Form
By Application
Food & Beverages
Dietary Suppplements
Animal Feed
Personal Care
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Asia Pacific
Rest of Asia-Pacific
South America
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Key Market Trends

Growing Acceptance Of Riboflavin Rich Dietary Supplements

Riboflavin is widely available in the form of multivitamin/multimineral supplements, in B-complex dietary supplements. The decline in riboflavin intake in western countries particularly among young people boosts the demand for riboflavin supplement. It acts as metabolic boosters helps in to promote good health. It plays a key role in energy metabolism, and for the metabolism of fats, ketone bodies, carbohydrates, and proteins. According to public health research, riboflavin plays an essential factor in protecting against cardiovascular diseases and cancers and in vision. Concern regarding bone and pregnancy health is becoming crucial for grain fortified food which in turn increases the demand for riboflavin market. Riboflavin or vitamin B2 deficiency increases the risk of preeclampsia during pregnancy.

Riboflavin Market1

North America To Drive The Global Market For Riboflavin

North America maintains the leading position in the riboflavin market, due to rapid urbanization & industrialization, product development & technological innovations. Also, increasing health awareness among people, the rise in per-capita income and the wide range of applications is the key factor driving the growth of the riboflavin industry in the US market. The prevalence of vitamin deficiency on typical Western diets is higher, especially in senior adults. Milk and milk products fortified with Vitamin B2 are critical in the North America fortified foods market, which is likely to fuel the overall need. Asia-Pacific is witnessed to have the fastest-growing market of riboflavin in the region and is also expected to increase during the forecast period.

Riboflavin Market2

Competitive Landscape

The global riboflavin market is competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in September 2017, Eisai Co., Ltd has launched vitamin B2 tablet - Chocola BB® Plus, that is one of the major product from the Chocola BB series, in Taiwan, which is in high demand from consumers who are both healthy and beauty conscious across Asia. Also, in July 2018, Vitabiotics launched supplements for hair, nail, and skin under the brand named Perfectil, across the global market, which mostly contained vitamin B2 and niacin as well as minerals like zinc and selenium.

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Source

      1. 5.1.1 Plant

      2. 5.1.2 Animal

    2. 5.2 By Form

      1. 5.2.1 Powder

      2. 5.2.2 Liquid

    3. 5.3 By Application

      1. 5.3.1 Food & Beverages

      2. 5.3.2 Dietary Suppplements

      3. 5.3.3 Pharmaceuticals

      4. 5.3.4 Animal Feed

      5. 5.3.5 Personal Care

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.4.2 Europe

        1. Spain

        2. United Kingdom

        3. Germany

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.4.3 Asia Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle East and Africa


    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 DSM

      3. 6.4.3 Parchem fine & specialty chemicals

      4. 6.4.4 Advanced Technology & Industrial Co., Ltd.

      5. 6.4.5 Shanghai Acebright Pharmaceuticals Group Co., Ltd.

      6. 6.4.6 Xinfa Pharmaceutical Co., Ltd

    5. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Riboflavin Market market is studied from 2016 - 2026.

The Riboflavin Market is growing at a CAGR of 4.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

BASF SE, DSM, Parchem fine & specialty chemicals, Advanced Technology & Industrial Co., Ltd. are the major companies operating in Riboflavin Market.

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