Global Biotin Ingredient Market Overview
Biotin Ingredient Market Size was estimated at 1.89 (USD Billion) in 2022. The Biotin Ingredient Industry is expected to grow from 2.05(USD Billion) in 2023 to 4.36 (USD Billion) by 2032. The Biotin Ingredient Market CAGR (growth rate) is expected to be around 8.72% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Biotin Ingredient Market Trends Highlighted
The use of biotin has other benefits, which is why the biotin ingredient market is witnessing dramatic shifts. Biotin’s growing demand as a nutritional supplement and for its health benefits, particularly in hair, skin, and nails, are also some of the major market growth factors. The increasing knowledge about biotin’s influence on cell metabolism and cognitive functions also augments the market’s growth region.
New possibilities include biotin supplementation in food products in the food and beverage industry as a nutritional enhancer. The growing trend of vegan and gluten-free diets is generating an opportunity for biotin supplements that will accommodate these restrictions. Additionally, the assessment regarding the therapeutic use of biotin in the treatment of medical issues like diabetes or multiple sclerosis offers some potential for more growth opportunities.
It appears that there is currently a general leader for the most changeable markets. Such people prefer nutritional supplements based on plants or fermented sources, which increases the quality of biotin sustainably produced. The distribution and market penetration of biotin supplements has also been aided by the rise of e-commerce sites.
Biotin Ingredient Market Drivers
Increasing Demand for Biotin in Nutritional Supplements
Biotin is an essential nutrient that plays a crucial role in various bodily functions, including metabolism, nerve function, and hair, skin, and nail health. The growing awareness of the benefits of biotin has led to a surge in demand for biotin supplements. Consumers are increasingly seeking products that support their overall health and well-being, and biotin has emerged as a key ingredient in this regard. The rising popularity of biotin supplements is expected to drive the growth of the Biotin Ingredient Market Industry in the coming years.
Expansion of Biotin Applications in Cosmetics and Personal Care
Biotin is extensively used in the cosmetics personal care industry for improving the appearance of hair, skin, and nails. It is found in the form of shampoos, conditioners, serums, and other products used for hair growth, reduction of hair loss, and improving skin health. The increasing demand for natural and effective ingredients in cosmetics is anticipated to expand the Biotin Ingredient Market Industry across this sector.
Growing Focus on Hair and Skin Care
The increasing emphasis on personal appearance and self-care has led to a growing focus on hair and skin care. Consumers are actively seeking products that improve the health and aesthetics of their hair and skin. Biotin, with its well-established benefits for hair, skin, and nail health, is well-positioned to cater to this growing demand.
Biotin Ingredient Market Segment Insights
Biotin Ingredient Market Form Insights
Introduction The form segment of the Biotin Ingredient Market plays a crucial role in understanding the market dynamics. Among various forms, Powder and Capsules were the dominant segments. The market share captured by these two segments has been substantial. Powder Powdered biotin has been in high demand due to its versatility. Most dietary supplements, food fortified with vitamins, and cosmetic manufacturers have embraced the powder form due to its insuperable advantages. The powdered substance is dispersible and the same makes it easy to mix with other compounds.
Moreover, it makes the dosage of the ingredient more accurate. The market for powdered supplements is growing rapidly due to the popularity of dietary and nutritional vitamins. Increasing demand for fortified food products will also increase the sales of powdered biotin. Capsules Although powdered biotin had the upper hand in the market, capsules were not too far behind but still far enough to establish itself as a valuable form segment of the Biotin Ingredient Market. Capsules have been in high demand because of their portal nature. Moreover, the controlled release of substances, along with precise dosages makes it an attractive proposition for any individual in need of specific dosages.
Personalized nutrition has gained popularity in recent times. The awareness regarding the advantages of this ingredient for hair, skin, and nails is growing. These are the driving factors of the growing capsule market. Tablets The market size of the tablet form segment is highly significant and will grow in future. It is also a solid dosage form, like Capsules, and the substances remain in a constant and solid form. A tablet offers a consistent concentration of an ingredient. Over-the-counter (OTC) drugs and dietary supplements adopt this form because of the convenience of consumption.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Biotin Ingredient Market Application Insights
The Biotin Ingredient Market segmentation by Application is a crucial aspect of market research, providing insights into the diverse usage of biotin in various industries. Dietary supplements hold the largest market share, driven by the growing demand for biotin for hair, skin, and nail health. In 2023, the dietary supplements segment accounted for USD 0.95 billion in revenue, and it is projected to grow at a CAGR of 8.7% to reach USD 1.69 billion by 2032. Cosmetics and personal care products constitute another significant segment, with biotin being used in shampoos, conditioners, and skincare products for its beautifying effects.
The food and beverages segment is also witnessing growth due to the fortification of biotin in functional foods and beverages. Additionally, the pet food segment is gaining traction, driven by the increasing awareness of pet health and nutrition.
Biotin Ingredient Market Source Insights
The Biotin Ingredient Market segmentation by Source is segmented into Yeast, Bacteria, and Chemical Synthesis. The Yeast segment held the largest market share in 2023, and is expected to continue to dominate the market during the forecast period. Yeast-based biotin is preferred due to its high production efficiency, cost-effectiveness, and regulatory approvals. Bacteria-based biotin is also gaining traction, owing to advancements in fermentation technology and increasing demand for vegan and vegetarian products. Chemical synthesis, though a less common source, offers a consistent and controlled production process.
Biotin Ingredient Market Purity Insights
The purity of biotin ingredients is a key factor in determining their quality and value. Different grades of purity are available, with each grade commanding a different price point. The most common grades of biotin purity are 98%, 99%, 99.5%, and 99.9%. The 98% purity grade is the most basic and affordable option. It is typically used in applications where high purity is not critical, such as in animal feed or as a general nutritional supplement. The 99% purity grade is a step up from 98% and is used in applications where a higher level of purity is required, such as in food and beverage products.
The 99.5% purity grade is even more pure and is used in applications where the highest level of purity is essential, such as in pharmaceutical products. The 99.9% purity grade is the purest biotin ingredient available and is used in the most demanding applications, such as in research and development. The Biotin Ingredient Market revenue is expected to reach USD 4.36 Billion by 2032, exhibiting a CAGR of 8.72% during the forecast period (2024-2032). The growth of the biotin ingredient market is driven by increasing demand from the food and beverage industry, as well as the growing popularity of biotin supplements.
The market is segmented based on purity, with 99% and above purity accounting for the largest share.
Biotin Ingredient Market End User Insights
The Biotin Ingredient Market is segmented into several end-user segments, including Manufacturing, Healthcare Professionals, Veterinarians, and Consumers. The Manufacturing segment accounted for the largest share of the Biotin Ingredient Market revenue in 2023, owing to the increasing demand for biotin in the production of animal feed, food additives, and cosmetics. The Healthcare Professionals segment is also a significant contributor to the market, driven by the rising prevalence of biotin deficiency and the growing awareness of its benefits for hair, skin, and nail health.
The Veterinarians segment is expected to witness steady growth over the forecast period, supported by the increasing demand for biotin in pet food and supplements. The Consumer segment is anticipated to grow at a moderate pace, fueled by the growing trend of self-care and the increasing popularity of biotin supplements.
Biotin Ingredient Market Regional Insights
The Biotin Ingredient Market has been segmented regionally into North America, Europe, Asia-Pacific, South America, and the Middle East Africa. Among these regions, North America is expected to hold the largest market share in the coming years. The high adoption of dietary supplements and increasing awareness about the benefits of biotin are driving the growth of the regional market. Europe is another major market for biotin ingredients, owing to the presence of a large pharmaceutical industry and increasing demand for fortified food products.
The Asia-Pacific region is projected to witness significant growth in the biotin ingredient market during the forecast period. This growth is attributed to the rising disposable income and changing lifestyles in developing countries such as China and India. South America and the Middle East Africa are relatively smaller markets for biotin ingredients, but they are expected to grow steadily in the coming years. The increasing demand for functional food and beverages in these regions is expected to drive the growth of the biotin ingredient market.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Biotin Ingredient Market Key Players And Competitive Insights
Major players in the Biotin Ingredient Market industry are constantly striving to maintain their competitive edge by investing in research and development, expanding their product portfolios, and forming strategic partnerships. They are also adopting innovative marketing strategies to increase their brand visibility and customer base. The competitive landscape is expected to remain intense as leading Biotin Ingredient Market players continue to strengthen their positions and new entrants emerge in the market.
BASF is a leading Biotin Ingredient Market player with a strong presence. The company offers a wide range of biotin ingredients for various applications, including food, beverages, and pharmaceuticals. BASF is committed to providing high-quality products and services to its customers and has a strong focus on innovation. The company has invested heavily in research and development to develop new and improved biotin ingredients that meet the evolving needs of its customers. BASF has also formed strategic partnerships with other companies in the industry to expand its product offerings and reach new markets.
DSM is another major player in the Biotin Ingredient Market industry. The company has a strong focus on sustainability and is committed to producing biotin ingredients that are environmentally friendly. DSM offers a wide range of biotin ingredients for various applications, including food, beverages, and pharmaceuticals. The company has a strong presence and is committed to providing high-quality products and services to its customers. DSM has invested heavily in research and development to develop new and improved biotin ingredients that meet the evolving needs of its customers. The company has also formed strategic partnerships with other companies in the industry to expand its product offerings and reach new markets.
Key Companies in the Biotin Ingredient Market Include
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SharomAmino Ingredients Co, Ltd.
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Hainan Zhongxin Biological Pharmaceutical Co., Ltd
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Haihang Industry Co.
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Galactic
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Xi'an Kang Biotech Co.
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BASF
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Hebei Yuxing BioTechnology Co.
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Merck KGaA
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ADM
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DSM
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Xuzhou Jiuding Biological Products Co., Ltd
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Zhejiang NHU Co., Ltd.
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Lonza Group
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BioTech USAn
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Cremer Oleo GmbH
Biotin Ingredient Market Industry Developments
The biotin ingredient market is projected to reach USD 4.36 billion by 2032, exhibiting a CAGR of 8.72% during the forecast period. Increasing consumer awareness regarding the benefits of biotin for hair, skin, and nail health is driving market growth. Supplementation of biotin is gaining traction among consumers seeking to improve their overall well-being. The rising prevalence of biotin deficiency, particularly among pregnant women and individuals with certain medical conditions, is further fueling market demand. Technological advancements, such as the development of innovative delivery systems, are also contributing to market growth. Key players in the industry are focusing on expanding their product portfolios and investing in research and development to cater to the evolving needs of consumers. Strategic partnerships and acquisitions are also shaping the competitive landscape of the biotin ingredient market.
Biotin Ingredient Market Segmentation Insights
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Biotin Ingredient Market Form Outlook
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Powder
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Capsules
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Tablets
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Liquids
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Biotin Ingredient Market Application Outlook
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Biotin Ingredient Market Source Outlook
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Yeast
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Bacteria
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Chemical Synthesis
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Biotin Ingredient Market Purity Outlook
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Biotin Ingredient Market End User Outlook
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Manufacturing
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Healthcare Professionals
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Veterinarians
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Consumers
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Biotin Ingredient Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.89(USD Billion) |
| Market Size 2023 |
2.05(USD Billion) |
| Market Size 2032 |
4.36(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.72% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
SharomAmino Ingredients Co., Ltd., Hainan Zhongxin Biological Pharmaceutical Co., Ltd., Haihang Industry Co., Galactic, Xi'an Kang Biotech Co., BASF, Hebei Yuxing BioTechnology Co., Merck KGaA, ADM, DSM, Xuzhou Jiuding Biological Products Co., Ltd., Zhejiang NHU Co., Ltd., Lonza Group, BioTech USA, Cremer Oleo GmbH |
| Segments Covered |
Form, Application, Source, Purity, End User, Regional |
| Key Market Opportunities |
Growing demand for biotin supplements Increasing awareness of biotin benefits for hair, skin and nail health. Expansion in the nutraceutical industry Biotin as a key ingredient in vitamins, minerals and dietary supplements Rising popularity of vegan and vegetarian diets, Biotin is a vital nutrient often lacking in plant-based diets. Advancements in biotechnology Improved production and extraction techniques for biotin Growing applications in animal feed Biotin as an essential nutrient for livestock. |
| Key Market Dynamics |
Rising demand for dietary supplements increasing awareness of hair and nail health technological advancements, growing vegan population and expanding market for hair and skin care products. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Biotin Ingredient market size was valued at USD 2.05 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 8.72% from 2024 to 2032, reaching a value of USD 4.36 billion by 2032.
The Biotin Ingredient market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held the largest market share in 2023, accounting for over 40% of the market.
Biotin Ingredient is primarily used in the production of dietary supplements, food and beverages, and cosmetics. Dietary supplements account for the largest share of the market, followed by food and beverages. The use of Biotin Ingredient in cosmetics is expected to grow significantly over the forecast period due to increasing demand for anti-aging and hair care products.
The key competitors in the Biotin Ingredient market include DSM, BASF, Lonza, and Merck KGaA. These companies account for a significant share of the market and are focused on expanding their presence through strategic acquisitions and partnerships.
The key trends in the Biotin Ingredient market include increasing demand for natural and organic ingredients, growing awareness of the health benefits of Biotin, and rising disposable income in emerging markets. These trends are expected to drive the growth of the market over the forecast period.
The Biotin Ingredient market faces several challenges, including fluctuating raw material prices, stringent regulations, and competition from synthetic ingredients. However, the growing demand for natural and organic ingredients is expected to mitigate these challenges and drive the growth of the market.
The Biotin Ingredient market is expected to grow at a CAGR of 8.72% from 2024 to 2032.
The growth of the Biotin Ingredient market is driven by increasing demand for natural and organic ingredients, growing awareness of the health benefits of Biotin, and rising disposable income in emerging markets.
The key opportunities in the Biotin Ingredient market include the development of new products, expansion into new markets, and the adoption of new technologies.
The key challenges in the Biotin Ingredient market include fluctuating raw material prices, stringent regulations, and competition from synthetic ingredients.
