What is Niacinamide?
Niacinamide, also known as vitamin B3 or nicotinamide, is a water-soluble vitamin that plays an essential role in various physiological processes in the body, including energy metabolism, DNA repair, and cell signaling. It is also a popular ingredient in skincare products due to its many benefits for the skin.
Niacinamide has been shown to improve the skin’s barrier function, increase hydration, and reduce inflammation, making it an effective treatment for conditions such as acne, rosacea, and eczema. It can also help to reduce the appearance of fine lines and wrinkles, as well as hyperpigmentation and dark spots.
In addition, niacinamide has been shown to have a protective effect against skin cancer and can help to prevent damage from UV radiation. It is generally considered safe for topical use, but it is important to follow the recommended dosage and usage instructions.
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Niacinamide Market –
The niacinamide market has been growing steadily in recent years, driven by the increasing demand for skincare and personal care products containing this ingredient.
One of the main factors driving the growth of the niacinamide market is the increasing awareness of the benefits of niacinamide for the skin, as well as the rising demand for natural and organic skincare products. In addition, the growing aging population and increasing disposable income in developing countries are also driving the demand for niacinamide-based skincare products.
The niacinamide market is highly competitive, with a large number of players offering a wide range of products. Some of the key players in the niacinamide market include BASF SE, DSM, Lasons India, Vertellus Holdings LLC, and Evonik Industries AG, among others. These companies are focusing on research and development to expand their product portfolio and improve the efficacy of their products.
Niacinamide Market Statistics-
The niacinamide market size was valued at $546.08 million in 2021, and is estimated to reach $832.4 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
