Vitamin B12 Market Growth Boost To 2033

According to the Market Statsville Group (MSG), the Global Vitamin B12 Market size was valued at USD 345.1 million in 2024 and is expected to grow from USD 356.8 million by 2025 to USD 466.2 million by 2033, at a CAGR of 3.4% during the forecast period (2025 – 2033).

The global market for Vitamin B12 shows strong growth due to rising knowledge about its health advantages as well as growing international prevalence of Vitamin B12 insufficiency. This fundamental vitamin demonstrates increased market demand across multiple applications including pharmaceuticals dietary supplements and fortified foods and beverages because it supports nerve functioning while making red blood cells and DNA. The growing popularity of meatless food choices among people who avoid Vitamin B12 in their diets drives increased demand for vitamin supplements. The market shows increasing growth because aging consumers struggle with nutrient absorption. New production technologies that combine chemical synthesis and fermentation enable better access to products in the market. The market leaders aim at product innovation combined with distribution channel expansion and diversified product portfolios to appeal to an enlarged consumer base. North America European and Asia-Pacific territories are becoming significant markets because their citizenry shows expanding health-mindfulness alongside increasing nutritional mindfulness. 

Definition of the Vitamin B12

Cobalamin or Vitamin B12 represents a water-soluble vitamin required for red blood cell production together with essential functions for nerves and DNA function. This vitamin exists naturally in vegetarian and non-vegetarian food including animals such as fish and eggs and dairy products. The lack of Vitamin B12 creates anemia as well as neurological issues which necessitates supplementation for specific groups.

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Scope of the Global Vitamin B12 Market 

The study categorizes the Vitamin B12 market based on Source, Form, Application, End-User, Distribution Channel at the regional and global levels.

By Source Outlook (Sales, USD Million, 2019-2033)

• Synthetic Vitamin B12
• Natural Vitamin B12 (from animal-based sources

By Form Outlook (Sales, USD Million, 2019-2033)

• Tablets
• Capsules
• Liquids
• Powders
• Others (e.g., gummies, injections)

By Application Outlook (Sales, USD Million, 2019-2033)

• Dietary Supplements
• Pharmaceuticals
• Fortified Foods and Beverages

By End-User Outlook (Sales, USD Million, 2019-2033)

• Individuals with Deficiency (e.g., elderly, vegans, vegetarians)
• General Consumers (health-conscious individuals)
• Hospitals and Clinics

By Distribution Channel Outlook (Sales, USD Million, 2019-2033)

• Online Retail
• Supermarkets/Hypermarkets
• Pharmacies
• Health Stores

By Region Outlook (Sales, USD Million, 2019-2033)

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

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Synthetic Vitamin B12 segment accounts for the largest market share by Source

Based on the Source, the market is divided Synthetic Vitamin B12, Natural Vitamin B12. Synthetic Vitamin B12 are the dominant segment of the Vitamin B12 Market. Synthetic B12 becomes the preferred choice because manufacturing operations remain affordable yet expansive while requiring basic microbial fermentation techniques. Production of Synthetic B12 using microbial fermentation allows large-scale affordable manufacturing at costs below natural source counterparts. Large-scale microbial fermentation for producing vitamin B12 generates a consistent supply of vitamin B12 which enables accessibility to consumers across multiple sectors including dietary supplement users and fortified food manufacturers and pharmaceutical companies. Those on plant-based diets depend on synthetic Vitamin B12 as a non-animal derived solution to tackle their higher susceptibility to deficiency. Manufacturers use synthetic Vitamin B12 for wide-ranging formulation purposes because this ingredient demonstrates adaptability across diverse product formats such as tablets and capsules and liquid solutions. Advancements in manufacturing technologies combined with health patterns worldwide position synthetic production to keep its leading market position. 

North America accounted for the largest market share by Region

Based on the regions, the global market of Vitamin B12 has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. The North America dominates the Vitamin B12 market. The industry flourishes because consumers educate themselves about these products while benefiting from superior medical systems and active appreciation for dietary supplements. The established health and wellness product market in this region expands due to rising consumer interest in both health preservation and the elimination of nutritional shortages. Data showing increasing Vitamin B12 deficiency rates among different age groups including older adults and vegetarian consumers drives the expanding requirement for B12 additives across the market. Vitamin B12 market growth benefits from significant North American presence of major B12 manufacturers and suppliers. Supplement usage by health-conscious consumers throughout the U.S. and Canadian market has increased due to their interest in managing both bodily energy levels and immune function and cognitive health needs. The growing demand for Vitamin B12 products results from digital health trends together with expanded health information access and increasing interest in preventive healthcare. Multiple converging elements create North America's position as the market leader. 

Competitive Landscape: Global Vitamin B12 Market 

Major players compete within the global market for Vitamin B12 across pharmaceutical companies and supplement producers and food and beverage manufacturers engaged in fortification activities. Companies compete through their approaches to product quality together with prices and innovative products and their distribution networks. Major market players seek expansion through additional product introduction alongside effective uses of modern production technology and broadening health and wellness market opportunities.

Major players in the global Vitamin B12 market are: 

• Endo Pharmaceuticals Inc. (NASCOBAL)
• Hebei Huarong Pharmaceutical Co., Ltd.
• Jamieson Laboratories Ltd.
• Bristol-Myers Squibb
• NOW Health Group, Inc.
• BASF SE
• Ningxia Kingvit Pharmaceutical CO., LTD.
• Merck KGaA
• Sanofi S.A.
• ZenithNutrition.com
• Unived Healthcare Products Pvt. Ltd.
• Jarrow Formulas, Inc.
• Bayer AG
• Watson Inc.
• Other Major Players

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Recent Development 

• In February 2024, Lupin Limited (Lupin), a global pharmaceutical company, launched Cyanocobalamin Nasal Spray, 500 mcg/spray (One Spray per Device) following U.S. FDA approval. Cyanocobalamin Nasal Spray, 500 mcg/spray (One Spray per Device) serves as the generic version of Nascobal® Nasal Spray, 500 mcg/spray from Par Pharmaceutical, Inc.