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Biotin market value will reach $314.6 million in 2023

Biotin

Biotin is a water-soluble B vitamin, also known as vitamin B7, formerly known as vitamin H or coenzyme R. It consists of a ureido ring fused with a tetrahydrothiophene ring. The valeric acid substituent is attached to a carbon atom of the tetrahydrothiophene ring. Biotin is a coenzyme of carboxylase and is involved in the synthesis of fatty acids, isoleucine and valine and the synthesis of gluconeogenesis.

There are 1%, 2% and original purity (>98%). 1% and 2% biotin are used in animal feed and food, sometimes in feed, and the original purity is used in pharmaceuticals and cosmetics. Animal feed is the largest application field of biotin, and its sales in 2016 accounted for 78.92% of the market share. Biotin is also widely used in the pharmaceutical and cosmetic markets, with a market share of 15.08%.

The commercial production of biotin is only realized for D-biotin. DL-Biotin is not produced on a large scale worldwide. Biotin is produced in China. China’s leading suppliers, ZMC, NHU, SDM and Hegno. Zhejiang Pharmaceutical Company is the world’s largest biotin supplier, with a market share of 27.63% in 2016. The biotin market is highly concentrated, with the top eight suppliers occupying more than 98% of the market share. The lower proportion of biotin in the downstream market means that manufacturers have bargaining power over downstream users.

The global biotin market was valued at US$18238 million in 2016 and is expected to reach US$314.6 million by the end of 2023, with a growth rate of 9.38% from 2016 to 2023.

Hengzhou Bozhi published Global Biotin Market Research Report 2017 This report provides a basic overview of the biotin industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans, as well as manufacturing processes and cost structures.

The report focuses on industry players in major regions around the world, including company profiles, product pictures and specifications, sales, market shares, and contact information. More importantly, it analyzes the development trend and marketing channels of the biotin industry. Provides the main statistical data on the status quo of the industry, which is a valuable guide and direction for companies and individuals interested in the market.

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