Thiamine Global Market Report 2024

Thiamine, also known as Vitamin B1, is an essential water-soluble nutrient in the B-complex group, critical for carbohydrate metabolism and nerve function. It plays a key role in maintaining overall health and proper physiological functions, especially those related to energy metabolism and neurological health.

The primary forms of thiamine include thiamine mononitrate, thiamine hydrochloride, and thiamine pyrophosphate. Thiamine mononitrate is a synthetic form of Vitamin B1, necessary for human health. The various forms are available as tablets and capsules, liquid, and powder, used in multiple applications such as food and beverages, pharmaceuticals, animal feed, dietary supplements, and other uses.

The thiamine market research report is one of a series of new reports that provides thiamine market statistics, including thiamine industry global market size, regional shares, competitors with a thiamine market share, detailed thiamine market segments, market trends, and opportunities, and any further data you may need to thrive in the thiamine industry. This thiamine research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The thiamine market size has grown strongly in recent years. It will grow from $1.24 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed in the historic period can be attributed to the expansion of fortification programs, the rise of functional foods, the growing demand for natural and organic sources, and the increased efforts in food fortification.

The thiamine market size is expected to see rapid growth in the next few years. It will grow to $2.01 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth expected in the forecast period can be attributed to increasing health awareness, an aging population, a rising incidence of chronic diseases, consumer preference for natural and organic products, and a rising occurrence of lifestyle-related disorders. Major trends during this period include technological advancements, increased research and development, integration into telemedicine and digital health platforms, research into therapeutic applications, and personalized nutrition approaches.

The increasing demand for dietary supplements is expected to drive the growth of the thiamine market in the future. Dietary supplements are manufactured products designed to supplement a person's diet and come in forms such as pills, capsules, tablets, powders, or liquids. This rising demand is driven by heightened health awareness, a growing preference for preventive healthcare, and a greater emphasis on immune system support. Thiamine is included in dietary supplements to ensure sufficient intake of this essential vitamin, which is crucial for various bodily functions such as energy production, nervous system health, heart function, digestion, stress management, and overall metabolic balance. For example, according to the 2021 CRN Consumer Survey on Dietary Supplements by the Council for Responsible Nutrition, a US-based trade association, the number of Americans using dietary supplements increased from 73% in 2020 to 80% in 2021. Therefore, the growing demand for dietary supplements is driving the thiamine market.

Major companies in the thiamine market are focusing on developing innovative products, such as vitamin B1 deficiency infusions, to maintain their market position. A vitamin B1 deficiency infusion refers to the therapeutic administration of thiamine (Vitamin B1) directly into the bloodstream via intravenous (IV) delivery. For instance, in June 2023, Lupin Limited, an Indian pharmaceutical company, launched thiamine hydrochloride injection (USP) in multiple-dose vials containing 200 mg/2 mL (100 mg/mL). This injectable solution provides a direct and efficient alternative for patients with oral absorption challenges, such as gastrointestinal disorders or severe deficiencies needing urgent treatment. It offers healthcare providers a reliable means to manage and restore vitamin B1 levels, potentially reducing the risks associated with prolonged deficiency.

In August 2021, Nestlé Health Science SA, a Switzerland-based company specializing in medical nutrition, acquired the core brands of The Bountiful Company for an undisclosed amount. This acquisition aims to strengthen Nestlé's position in the health and wellness sector, expand its portfolio of vitamins and nutritional supplements, and leverage The Bountiful Company's established brands to meet the growing consumer demand for health and wellness products. The Bountiful Company is a US-based manufacturer and marketer of dietary supplements, including thiamine.

Major companies operating in the thiamine market are BASF SE, Koninklijke DSM N.V., The Nature's Bounty Co. Ltd., Zhejiang Medicine Co. Ltd., Swanson Health Products Inc., Brother Enterprises Holding Co. Ltd., NOW Health Group Inc., Molekula Group, Nutricost LLC, Solgar Inc., Tokyo Chemical Industry Co. Ltd., HPC Standards GmbH, Puritan's Pride Inc., Loba Chemie Pvt. Ltd., Aland Nutraceuticals Group, Anhui Tiger Biotech Co. Ltd., Caisson Laboratories Inc., Chemizo Enterprise, General Nutrition Centers Inc., Huazhong Pharmaceutical Co. Ltd.

Asia-Pacific was the largest region in the thiamine market in 2023. The regions covered in the thiamine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the thiamine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The thiamine market consists of sales of thiamine hydrochloride, thiamine mononitrate, multivitamin supplements, b-complex supplements, and fortified foods. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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