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    Vitamin B12 Cobalamin Market

    ID: MRFR/F-B & N/21172-HCR
    100 Pages
    Snehal Singh
    September 2025

    Vitamin B12 Cobalamin Market Research Report By Form (Crystalline, Powder, Liquid, Capsules, Tablets), By Source (Animal-Derived, Plant-Derived, Synthetic), By Application (Pharmaceuticals, Nutraceuticals, Food and Beverages, Cosmetics, Animal Feed), By Dosage (Low Dosage (up to 100 mcg), Medium Dosage (100-1,000 mcg), High Dosage (above 1,000 mcg)), By Distribution Channel (Retail Pharmacies, Online Pharmacies, Hospitals and Clinics, Nutritional Stores, Direct-to-Consumer) and By Regional (North America, Europe, South America, Asia Pacific,...

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    Vitamin B12 Cobalamin Market Research Report — Global Forecast till 2034 Infographic
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    Vitamin B12 Cobalamin Market Summary

    The Global Vitamin B12 Cobalamin Market is projected to grow significantly from 1.68 USD Billion in 2024 to 3.13 USD Billion by 2035.

    Key Market Trends & Highlights

    Vitamin B12 Cobalamin Key Trends and Highlights

    • The market is expected to witness a compound annual growth rate (CAGR) of 5.82% from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 3.13 USD Billion, reflecting robust growth opportunities.
    • In 2024, the market is valued at 1.68 USD Billion, indicating a strong foundation for future expansion.
    • Growing adoption of dietary supplements due to increasing awareness of health benefits is a major market driver.

    Market Size & Forecast

    2024 Market Size 1.68 (USD Billion)
    2035 Market Size 3.13 (USD Billion)
    CAGR (2025-2035) 5.82%

    Major Players

    Merck, BASF, Nature Made, Jarrow Formulas, KALNOW Foods, Health Chemie, Solgar, Thorne Research, EW Nutrition, Lonza, MegaFood, DSM, Country Life, Nature's Bounty, Pure Encapsulations

    Vitamin B12 Cobalamin Market Trends

    Key market drivers for Vitamin B12 Cobalamin include the rising prevalence of B12 deficiency due to dietary changes and increased awareness of its health benefits. Opportunities exist in the development of innovative delivery systems, such as oral sprays and transdermal patches, as well as the expansion of the market in developing countries where B12 deficiency is prevalent.Recent trends suggest a growing emphasis on personalized nutrition, with consumers seeking customized supplements based on their individual needs. Additionally, there is a shift towards plant-based diets, which can lead to B12 deficiency, driving demand for fortified foods and supplements.

    The market is also influenced by technological advancements in production processes, such as fermentation and extraction techniques, which can increase the efficiency and yield of B12 Cobalamin production.

    The increasing awareness of the health benefits associated with Vitamin B12 is driving a notable rise in its consumption across various demographics, particularly among those adopting plant-based diets.

    U.S. Department of Health and Human Services

    Vitamin B12 Cobalamin Market Drivers

    Market Trends and Projections

    The Global Vitamin B12 Cobalamin Market Industry is poised for substantial growth, with projections indicating a market value of 1.68 USD Billion in 2024 and an anticipated increase to 3.13 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 5.82% from 2025 to 2035. Such figures reflect the increasing consumer demand for Vitamin B12 products, driven by factors such as rising health awareness, demographic changes, and dietary trends. The market is likely to witness a diversification of product offerings, catering to various consumer preferences and needs, thereby enhancing its overall appeal.

    Growth in the Elderly Population

    The demographic shift towards an aging population is a crucial driver of the Global Vitamin B12 Cobalamin Market Industry. Older adults often experience decreased absorption of Vitamin B12 due to physiological changes, making supplementation essential. This demographic trend is expected to contribute to the market's expansion, as the elderly population is projected to grow significantly in the coming years. By 2035, the market could reach 3.13 USD Billion, indicating a robust demand for B12 supplements tailored for older adults. Healthcare providers are increasingly recommending B12 supplementation, further solidifying its necessity in geriatric care.

    Rising Popularity of Plant-Based Diets

    The increasing adoption of plant-based diets is influencing the Global Vitamin B12 Cobalamin Market Industry. Individuals following vegan or vegetarian diets often lack sufficient Vitamin B12, as it is primarily found in animal products. This dietary shift has led to a surge in demand for fortified foods and B12 supplements. As more consumers seek to maintain their health while adhering to plant-based lifestyles, the market is likely to see continued growth. The projected CAGR of 5.82% from 2025 to 2035 underscores the potential for B12 products that cater to this demographic, as they seek reliable sources of essential nutrients.

    Growing Health Consciousness Among Consumers

    The increasing health consciousness among consumers is significantly impacting the Global Vitamin B12 Cobalamin Market Industry. As individuals prioritize their well-being and seek preventive healthcare solutions, the demand for dietary supplements, including Vitamin B12, is on the rise. This trend is particularly pronounced among younger demographics who are more inclined to invest in their health. The market's growth is further supported by the proliferation of health and wellness information available through various channels. As consumers become more proactive about their health, the demand for Vitamin B12 products is likely to continue to escalate, contributing to a robust market environment.

    Increasing Awareness of Nutritional Deficiencies

    The rising awareness of nutritional deficiencies, particularly Vitamin B12 deficiency, is driving the Global Vitamin B12 Cobalamin Market Industry. As individuals become more informed about the health implications of deficiencies, there is a growing demand for B12 supplements. This trend is particularly evident among populations at risk, such as vegetarians, vegans, and the elderly. The market is projected to reach 1.68 USD Billion in 2024, reflecting a significant increase in consumer interest. Educational campaigns and health initiatives are likely to further enhance awareness, potentially leading to increased sales of B12 products across various regions.

    Technological Advancements in Supplement Formulation

    Innovations in supplement formulation are playing a pivotal role in the Global Vitamin B12 Cobalamin Market Industry. Advances in technology have led to the development of more effective and bioavailable forms of Vitamin B12, enhancing absorption and efficacy. This has resulted in a broader range of products available to consumers, including sublingual tablets, sprays, and fortified foods. As manufacturers continue to invest in research and development, the market is expected to benefit from these advancements. Enhanced product offerings may attract a wider audience, potentially increasing market share and contributing to the overall growth trajectory of the industry.

    Market Segment Insights

    Vitamin B12 Cobalamin Market Segment Insights

    Vitamin B12 Cobalamin Market Segment Insights

    Vitamin B12 Cobalamin Market Form Insights

    Vitamin B12 Cobalamin Market Form Insights

    The Vitamin B12 Cobalamin Market is segmented by form into Crystalline, Powder, Liquid, Capsules, and Tablets. Of these, Crystalline is expected to be the largest segment in 2023, accounting for a market share of around 54%. Crystalline Vitamin B12 is the pure form of the vitamin, and it is commonly used in the production of fortified foods and beverages, as well as dietary supplements. It is highly stable and has a long shelf life, making it the preferred choice of the manufacturers.

    The Powder form is expected to be the second-largest segment, accounting for a market share of around 26% in 2023.Powdered Vitamin B12 is commonly used in the food and beverage industry as a fortificant, and it is also available in the form of capsules and tablets for dietary supplementation. It is generally cheaper than Crystalline Vitamin B12, making it a more cost-effective option in some applications. The Liquid segment is expected to grow steadily in the coming years, driven by the increasing demand for liquid dietary supplements.

    Liquid Vitamin B12 is more readily absorbed by the body than the other forms, and it is often the preferred choice for individuals with malabsorption issues.It is also used in the form of injection for the treatment of Vitamin B12 deficiency. The Capsules and Tablets segments are also expected to be relatively small, although they remain important due to their convenience and ease of use. Capsules and tablets are commonly used in dietary supplements, and they are available in a wide range of strengths and formulations to cater to different groups of people.

    The growth of the market is driven by factors such as the increasing prevalence of Vitamin B12 deficiency, rising awareness about the importance of Vitamin B12 for overall health, and the growing demand for fortified foods and beverages.

    Vitamin B12 Cobalamin Market Source Insights

    Vitamin B12 Cobalamin Market Source Insights

    The Vitamin B12 Cobalamin Market is based on source, and is divided into animal, plant, and synthetic. The plant segment is expected to grow by 6.2% CAGR and the synthetic one by 6.5% CAGR. The growth of the animal segment is due to the growing demand for meat and dairy products, and the growth of the plant segment is explained by the growing popularity of veganism and vegetarianism. Synthetic cobalamin will grow due to the increasing use of vitamin B12 in fortified foods and beverages.

    Vitamin B12 Cobalamin Market Application Insights

    Vitamin B12 Cobalamin Market Application Insights

    The Vitamin B12 Cobalamin Market is segmented into Pharmaceuticals, Nutraceuticals, Food and Beverages, Cosmetics, and Animal Feed. Pharmaceuticals are expected to hold a significant share of the Vitamin B12 Cobalamin Market. The pharmaceutical industry uses Vitamin B12 Cobalamin for manufacturing various medications like anemia drugs and supplements. In 2023, the Vitamin B12 Cobalamin Market for Pharmaceuticals was valued at USD 0.78 billion and is expected to reach USD 1.12 billion by 2032, exhibiting a CAGR of 4.1%.

    This growth can be attributed to the rising prevalence of Vitamin B12 deficiency and increasing demand for personalized medicine.The Nutraceuticals segment is anticipated to have a promising growth rate. Growing awareness about the health benefits of Vitamin B12 Cobalamin is driving the demand in the nutraceutical industry. The market for Vitamin B12 Cobalamin in the nutraceutical sector is estimated to be valued at USD 0.42 billion in 2023 and is projected to expand at a CAGR of 6.2% over the forecast period.

    Due to rising consumer awareness of health and wellness, the demand for Vitamin B12 Cobalamin supplements is likely to increase. The Food and Beverages segment is expected to experience steady growth.The increasing use of Vitamin B12 Cobalamin as a food supplement is expected to propel the segment's growth. In 2023, the Vitamin B12 Cobalamin Market for Food and Beverages was valued at USD 0.25 billion and is projected to reach USD 0.36 billion by 2032, exhibiting a CAGR of 4.3%. The Cosmetics segment is anticipated to have a positive growth trajectory.

    Vitamin B12 Cobalamin is increasingly used in skincare products due to its anti-aging and skin-brightening properties. The market for Vitamin B12 Cobalamin in the cosmetics industry is estimated to be valued at USD 0.09 billion in 2023 and is projected to expand at a CAGR of 5.8% over the forecast period.Rising consumer demand for natural and organic skincare products is driving the segment's growth. The Animal Feed segment is expected to witness moderate growth. The increasing use of Vitamin B12 Cobalamin in animal feed for livestock, poultry, and pets is anticipated to drive the segment's growth.

    Vitamin B12 Cobalamin Market Dosage Insights

    Vitamin B12 Cobalamin Market Dosage Insights

    The Vitamin B12 Cobalamin Market segmentation by dosage can be divided into low dosage (up to 100 mcg), medium dosage (100-1,000 mcg), and high dosage (above 1,000 mcg). Low dosage is commonly used for daily supplements and over-the-counter medications. In 2023, the low dosage segment accounted for the largest share of the market. The medium dosage segment is primarily used for prescription medications and is expected to witness significant growth due to the increasing prevalence of vitamin B12 deficiency.

    The high dosage segment is mainly used for severe vitamin B12 deficiencies and is expected to grow at a moderate pace.The Vitamin B12 Cobalamin Market is expected to reach USD 2.5 billion by 2032, growing at a CAGR of 5.81%.

    Vitamin B12 Cobalamin Market Distribution Channel Insights

    Vitamin B12 Cobalamin Market Distribution Channel Insights

    The distribution channel segment plays a crucial role in the Vitamin B12 Cobalamin Market. In 2023, the retail pharmacies segment held the largest market share of around 35%, owing to the widespread accessibility and convenience offered by these channels. Online pharmacies are projected to witness significant growth in the coming years, driven by increasing internet penetration and the ease of ordering medications online.

    Hospitals and clinics account for a considerable share of the market, as they are the primary for administering injectable forms of Vitamin B12.Nutritional stores cater to the growing demand for dietary supplements and functional foods, contributing to their share in the market. Direct-to-consumer channels, including company websites and telemedicine platforms, are gaining traction, offering personalized recommendations and doorstep delivery. The market growth is attributed to the rising prevalence of Vitamin B12 deficiency, increasing awareness about its health benefits, and the growing demand for fortified foods and beverages.

    Get more detailed insights about Vitamin B12 Cobalamin Market Research Report — Global Forecast till 2034

    Regional Insights

    The regional segmentation of the Vitamin B12 Cobalamin Market offers valuable insights into the market's geographical distribution and growth dynamics. North America holds a significant market share due to the high prevalence of vitamin B12 deficiency and growing awareness of its health benefits. Europe follows closely, driven by favorable regulatory policies and increasing demand for fortified food products. The APAC region is expected to witness substantial growth, attributed to rising disposable income and changing dietary patterns.

    South America and MEA are emerging markets with untapped potential, presenting opportunities for market expansion.By understanding the regional dynamics, businesses can tailor their strategies to target specific markets and capture growth opportunities.

    Vitamin B12 Cobalamin Market Regional Insights

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Key Players and Competitive Insights

    The vitamin B12, Cobalamin Market industry poses a highly competitive landscape, with leading players competing against each other. Overall, major players in the Vitamin B12 Cobalamin Market industry are continuously moving towards gaining a competitive edge in some way.

    The emergence of key players in the Vitamin B12 Cobalamin Market industry can be due to expanding their product portfolio, enhancing their distribution scale and scope, forming strategic relationships and primarily increasing investment in research and development.Leading players of the Vitamin B12 Cobalamin Market are working towards developing novel products that meet the ever changing requirements of consumers as it acts as the major driver of Vitamin B12 Cobalamin Market growth. Other drivers of the Vitamin B12 Cobalamin Market include increasing health awareness among consumers and rising disposable income among other reasons.

    Merck is one of the major players of Vitamin B12 Cobalamin Market which offers a wide range of Vitamin B12 products. These products include cyanocobalamin, hydroxocobalamin, methylcobalamin and other types of Vitamin B12 products. Moreover, Merck has a vast distribution network and is one of the largest Vitamin B12 Cobalamin Market players globally. BASF is another such player operating in the Vitamin B12 Cobalamin Market, which offers a wide range of vitamins and nutrients. Both companies are involved in research and development activities and are committed to offering high-quality products and services.

    Furthermore, BASF is also known for its efforts to reduce its carbon footprint and is working towards becoming more sustainable.

    Key Companies in the Vitamin B12 Cobalamin Market market include

    Industry Developments

    The Vitamin B12 Cobalamin Market is anticipated to reach a valuation of USD 2.5 billion by 2032, expanding at a 5.81% CAGR from 2024 to 2032. Rising awareness of vitamin B12 deficiency and its associated health risks, coupled with increasing demand for fortified foods and beverages, is driving market growth. Key industry participants are investing in research and development to introduce innovative Vitamin B12 Cobalamin-based products, such as supplements, injectables, and fortified foods. The market is also witnessing strategic collaborations and partnerships to expand distribution channels and cater to the growing demand for Vitamin B12 Cobalamin products.

    Future Outlook

    Vitamin B12 Cobalamin Market Future Outlook

    The Global Vitamin B12 Cobalamin Market is projected to grow at a 5.82% CAGR from 2024 to 2035, driven by rising health awareness, increasing vegan populations, and advancements in supplement formulations.

    New opportunities lie in:

    • Develop targeted marketing strategies for vegan and vegetarian consumers.
    • Invest in innovative delivery systems for enhanced absorption of Vitamin B12.
    • Expand distribution channels through e-commerce platforms to reach broader demographics.

    By 2035, the market is expected to demonstrate robust growth, positioning itself as a key player in the global health supplement industry.

    Market Segmentation

    Vitamin B12 Cobalamin Market Form Outlook

    • Crystalline
    • Powder
    • Liquid
    • Capsules
    • Tablets

    Vitamin B12 Cobalamin Market Dosage Outlook

    • Low Dosage (up to 100 mcg)
    • Medium Dosage (100-1,000 mcg)
    • High Dosage (above 1,000 mcg)

    Vitamin B12 Cobalamin Market Source Outlook

    • Animal-Derived
    • Plant-Derived
    • Synthetic

    Vitamin B12 Cobalamin Market Regional Outlook

    • North America
    • Europe
    • South America
    • Asia Pacific
    • Middle East and Africa

    Vitamin B12 Cobalamin Market Application Outlook

    • Pharmaceuticals
    • Nutraceuticals
    • Food and Beverages
    • Cosmetics
    • Animal Feed

    Vitamin B12 Cobalamin Market Distribution Channel Outlook

    • Retail Pharmacies
    • Online Pharmacies
    • Hospitals and Clinics
    • Nutritional Stores
    • Direct-to-Consumer

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024  1.68 (USD Billion)
    Market Size 2025  1.78 (USD Billion)
    Market Size 2034 2.96 (USD Billion)
    Compound Annual Growth Rate (CAGR) 5.8% (2025 - 2034)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2034
    Historical Data 2019 - 2023
    Market Forecast Units USD Billion
    Key Companies Profiled Nature Made, Jarrow Formulas, KAL, NOW Foods, Health Chemie, Solgar, Thorne Research, EW Nutrition, Lonza, MegaFood, Merck Co., DSM, Country Life, Nature's Bounty, Pure Encapsulations
    Segments Covered Form, Source, Application, Dosage, Distribution Channel, Regional
    Key Market Opportunities 1 Increasing prevalence of vitamin B12 deficiency2 Growing awareness of the health benefits of vitamin B123 Expanding applications in food fortification4 Rising demand for vegan and vegetarian foods5 Technological advancements in vitamin B12 production
    Key Market Dynamics Rising prevalence of vitamin B12 deficiency Increasing demand for fortified food products Growing awareness of vitamin B12 health benefits Technological advancements in vitamin B12 production Expanding applications in animal feed
    Countries Covered North America, Europe, APAC, South America, MEA

    FAQs

    What is the market size of the Vitamin B12 Cobalamin Market?

    The Vitamin B12 Cobalamin Market is expected to reach USD 2.96 billion by 2034, with a CAGR of 5.8% from 2025 to 2034.

    Which region is expected to dominate the Vitamin B12 Cobalamin Market?

    The Asia Pacific region is expected to dominate the Vitamin B12 Cobalamin Market, accounting for a significant share of the market.

    What are the key applications of Vitamin B12 Cobalamin?

    Vitamin B12 Cobalamin is primarily used in the treatment of Vitamin B12 deficiency, which can lead to anemia, nerve damage, and other health issues.

    Who are the key competitors in the Vitamin B12 Cobalamin Market?

    Some of the key competitors in the Vitamin B12 Cobalamin Market include Merck, Pfizer, and DSM.

    What are the factors driving the growth of the Vitamin B12 Cobalamin Market?

    The growing prevalence of Vitamin B12 deficiency, increasing awareness of the benefits of Vitamin B12, and the rising demand for fortified foods and beverages are some of the key factors driving the growth of the Vitamin B12 Cobalamin Market.

    What are the challenges faced by the Vitamin B12 Cobalamin Market?

    The high cost of Vitamin B12 Cobalamin and the stringent regulatory requirements for its production and distribution are some of the challenges faced by the Vitamin B12 Cobalamin Market.

    What are the opportunities for the Vitamin B12 Cobalamin Market?

    The increasing demand for Vitamin B12 Cobalamin in the pharmaceutical and food industries, the growing awareness of the importance of Vitamin B12 for overall health, and the development of new and innovative Vitamin B12 Cobalamin delivery systems are some of the key opportunities for the Vitamin B12 Cobalamin Market.

    What is the expected growth rate of the Vitamin B12 Cobalamin Market?

    The Vitamin B12 Cobalamin Market is expected to grow at a CAGR of 5.8% from 2025 to 2034.

    What are the key trends in the Vitamin B12 Cobalamin Market?

    The growing popularity of plant-based diets, the increasing demand for fortified foods and beverages, and the rising awareness of the importance of Vitamin B12 for overall health are some of the key trends in the Vitamin B12 Cobalamin Market.

    What is the forecast for the Vitamin B12 Cobalamin Market?

    The Vitamin B12 Cobalamin Market is expected to reach USD 2.96 billion by 2034, with a CAGR of 5.8% from 2025 to 2034.

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