Vitamin B2 Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Vitamin B2 Market was valued at USD 497.70 Million in 2024, and is expected to reach USD 721.99 Million by 2030, rising at a CAGR of 4.20%. As a vital water-soluble nutrient, Vitamin B2 (riboflavin) supports energy production and cellular functions, driving its demand across health-conscious consumer segments. Increasing awareness around preventive healthcare and nutrition has encouraged the uptake of vitamin-enriched supplements and fortified foods. Riboflavin is widely recognized for promoting metabolism, skin health, and neurological function. Additionally, its use in the animal feed sector plays a crucial role in improving livestock growth, immunity, and reproductive health. The rising consumption of high-quality meat and dairy in emerging markets is further propelling demand for vitamin-enhanced feed solutions.

Key Market Drivers

Growth in Pharmaceutical Industry

The rapid expansion of the pharmaceutical industry has become a key driver for the global Vitamin B2 (riboflavin) market. With the pharmaceutical sector surpassing USD 1.6 trillion in revenue by 2023, riboflavin has gained prominence due to its critical functions in energy metabolism, antioxidant activity, and enzymatic reactions. Its inclusion in therapeutic products for addressing nutritional deficiencies and chronic fatigue highlights its medicinal significance. Notably, Eisai Co., Ltd.'s introduction of “Chocola BB Royal T” underscores this trend, utilizing activated vitamin B2 alongside royal jelly and taurine to boost energy metabolism. The growing prevalence of non-communicable diseases and malnutrition globally continues to bolster demand for riboflavin-based formulations.

Key Market Challenges

Volatility in Raw Material Supply

The Vitamin B2 market faces significant constraints due to unstable raw material supplies, which elevate production costs and disrupt availability. Key inputs such as fermentation substrates and chemical precursors often originate from geographically concentrated sources, making them susceptible to geopolitical instability, trade limitations, and environmental disruptions. Events like natural disasters, workforce shortages, and regulatory shifts in major supplier regions further aggravate supply chain uncertainties. These factors collectively strain manufacturers, threatening consistent product delivery and market stability.

Key Market Trends

Rising Preference for Natural Sources

A growing global shift toward natural, clean-label, and organic products is significantly influencing the Vitamin B2 market. Consumers are increasingly favoring riboflavin derived from microbial fermentation processes, which are viewed as safer and more environmentally sustainable compared to synthetic alternatives. The surge in organic food sales - from USD 18 billion in 2000 to over USD 136 billion by 2023 - highlights this consumer transition. This trend is driven by heightened health awareness and scrutiny over artificial additives, prompting manufacturers to prioritize natural, non-GMO, and sustainably sourced ingredients.

Key Market Players

• Hubei Guangji Pharmaceutical Co., Ltd
• dsm-firmenich
• BASF SE
• Haijianuo Pharmaceutical Co., Ltd.
• Zhejiang Shengda Bio-Pharm Co Ltd.
• Shandong Hongda Biological Technology Co., Ltd.
• Xinfa Pharmaceutical Co. Ltd
• N.B Group Co. Ltd

Report Scope

In this report, the Global Vitamin B2 Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vitamin B2 Market, By Sales Channel:

• Direct
• Indirect

Vitamin B2 Market, By End Use:

• Animal feed
• Pharmaceuticals & Supplements
• Food & Beverage Fortification
• Colorant
• Others

Vitamin B2 Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Vitamin B2 Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.