According to the market intelligence report titled ‘Global Vitamin B12 Market Analysis, 2020’ available with Market Study Report, global vitamin B12 market is anticipated to amass substantial revenue during the forecast period of 2020-2025.
 

Industry experts cite that increasing oral intake of Cyanocobalamin among nursing mothers and pregnant women coupled with rising product adoption to avoid spinal and central nervous system birth defects such as spina bifida in infants are stimulating the global vitamin B12 market outlook.
 

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For the record, vitamin B12, also referred to as cobalamin, is a water-soluble vitamin which assists the human body in maintaining the overall health of blood cells and nerves.
 

With regards to cyanocobalamin type, the industry is fragmented into spray, oral, and injection. Among these, the injection segment is predicted to emerge as a major revenue generator for the market through 2025, on account of escalating demand in India along with increasing prevalence of pernicious anemia.
 

The application spectrum of global vitamin B12 market comprises of feed supplements, food additives, medical treatment, and other applications such as pharmaceutical and cosmetics.
 

The medical treatment segment is slated to attain substantial expansion during the analysis timeframe, owing to growing prevalence of symptoms such as impaired vision, depression, and pernicious anemia along with rising adoption for boosting patient immunity amid the Covid-19 pandemic.
 

On the other hand, the food additive segment is also projected to grow significantly, primarily due to escalating demand for fortified food products, consumer inclination towards vitamin B12 rich foods, and growing health awareness among the population.
 

Based on type of production, global vitamin B12 market is bifurcated into genetic engineering, indirect production, and direct fermentation.
 

Speaking of the regional outlook, the overall industry is segmented into America, Asia-Pacific, Europe, and Middle East & Africa. The country wise bifurcation of the business comprises of Italy, Germany, France, UK, South Africa, Nigeria, UAE, Saudi Arabia, Egypt, South East Asia, India, Japan, U.S., Brazil, Mexico, and Canada.
 

Well-established players which define the worldwide vitamin B12 market trends are Ningxia Kingvit Pharmaceutical Co Ltd., Hebei Yuxing Bio-Engineering Co. Ltd., Chempure Private Limited, Ncpc Victor Co. Ltd., Sanofi SA, BASF SE, Hebei Huarong Pharmaceutical Co., Ltd., and Hebei Yufeng Group.