Biotin Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices

The global biotin market reached a value of about USD 2.0 billion in 2021. The industry is projected to grow at a CAGR of around 11.7% in the forecast period of 2022-2027 to reach a value of about USD 3.5 billion by 2027.

The global biotin industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. Biotin is an essential vitamin mainly used for food fortification and has nutritional advantages. It is usually a beauty vitamin because of its beneficial effects on hair, skin, and nails. As a result, of the growing consumer desire for healthy hair, skin etc., the market is experiencing immense growth. In the industry report, the critical demand indicator is the highest category spender by region— Northeast Asia, North America, and Western Europe.

Industry Definition and Segmentation

Biotin, or vitamin B7, is a B vitamin engaged in a wide range of metabolic activities in both humans and other creatures, focusing on fat, carbohydrate, and amino acid use. It supports the health of the skin, hair, eyes, liver, and nervous system. It is a cofactor for carboxylase enzymes involved in fatty acid, isoleucine, valine synthesis, and gluconeogenesis. In addition, it is also a critical vitamin during pregnancy, as it is required for embryonic development. The biotin industry report comprises segments by product form (capsules, tablets, soft gels, liquid, powders), distribution channel (supermarkets/hypermarkets, speciality store, e-commerce), application (pharmacies, skincare, haircare) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

North America, Europe, Asia Pacific, the Middle East and Africa, and South America Regions are Driving the Procurement of Biotin

North America and Europe hold a significant share in the market due to a rise in health awareness. Regular intake of food or diet-pattern needs to grow in these regions continually. The Asia Pacific region is the fastest-growing market for biotin supplements, owing to an increase in consumer spending on health supplements due to the health advantages they bring. The rise in consumer awareness about the various benefits of biotin intake like improved skin, triggering protein/amino acid metabolism in hair roots and fingernail cells, and the production of fatty acids are primarily leading the market's growth. Furthermore, growing health consciousness among the general population has spurred such fixings as both nourishment and health supplement, resulting in higher sales in the sector. Moreover, the demand for natural components in the market is rising, owing to increasing consumer awareness of natural ingredients, thus, resulting in market growth. Other factors such as changes in lifestyle, hectic schedules, rise in disposable incomes, and increased expenditure on wellness products are furthering the market's potential.

On the other hand, Nutraceutical-based products lack a clear line of demarcation, with differences among nations. As a result, the market expansion is hampered by the complexity of regulatory, legal, and technological concerns.

Best Procurement Practices

The global biotin industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global biotin products utilising regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Plants generate biotin, which is required for plant growth and development. Bacteria may also produce biotin, and bacteria in the large intestine may grow biotin taken and used by the host organism. Alanine and pimeloyl-CoA are used as precursors in the synthesis process. 7-keto-8-aminopelargonic acid is the result of these reactions (KAPA). Plant peroxisomes carry KAPA to mitochondria, which is metabolised to 7,8-diaminopelargonic acid (DAPA). Dethiobiotin synthetase is an enzyme that catalyses the synthesis of the ureido ring using a DAPA carbamate triggered with ATP, resulting in dethiobiotin, which is subsequently transformed into biotin. Biotin synthase, a radical SAM enzyme, catalyses the last step. A unique ferredoxin, [2Fe-2S], provides sulphur.

Lifestyle Changes of Consumers, Further Driving the Market

Smoking and drinking are two everyday lifestyle habits that cause vitamin and mineral absorption and production problems. Growth in the number of working women worldwide has led to more significant concern for their health and the desire to stay healthy, resulting in a growing demand for biotin supplements. Biotin supplements also aid in the healthy growth of hair and nails, indicating a developing trend worldwide. The global biotin supplement market is growing as a result of this. Pregnant women and epileptic sufferers are frequently exposed to its deficit. Moreover, medical breakthroughs and food innovations are assessed to aid the growth of the biotin supplements market. The advent of e-commerce, on the other hand, boosted sales of nutricosmetics sold through online channels. The improving online presence of businesses to reach a wider audience further propels the industry.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Biotin Industry Report

• Sports Research
• Nature's Bounty Co.
• Pure Research Products
• Zhou Nutrition
• Church & Dwight Co. Inc.
• Life Garden Naturals

Market Landscape

Established companies in the market, such as The Nature's Bounty and a few others, are releasing new goods that are also quite popular among vegans worldwide. For example, Nature's Bounty launched a cost-effective new product with no gluten, preservatives, or sugar and contained the same number of micrograms of biotin as more expensive ones. These types of products are in high demand, and they help diversify the market.

Key Initiatives by Companies

• In only a few weeks after initially issuing new regulations, India's food and safety standards organisation has modified its guidelines on recommended dietary allowances of vitamins and minerals once more.