ChinaBy Q1 2025, the Vitamin B3 (Niacin) Nicotinamide (>99%) market experienced another sharp fall, with prices dropping to USD 4883.33/MT, representing a -13.77% quarter-on-quarter decrease. This decline was largely due to ongoing weak demand from the international feed and food additive sectors, coupled with aggressive price undercutting among Chinese exporters to offload accumulated inventories.
The lack of any major bullish triggers, along with bearish sentiment in the global vitamin market, kept the purchasing momentum sluggish. Supply remained robust, and oversupply conditions prevailed, further driving the correction in FOB Shanghai prices.
In Q1 2024, the Vitamin B3 (Niacin) Nicotinamide (>99%) FOB Shanghai market in China experienced a marginal decline, with prices averaging USD 4700/MT, marking a slight -0.91% drop from the previous quarter. The market sentiment during this period remained largely neutral, as a stable supply from domestic manufacturers met moderate demand from both the pharmaceutical and feed additive industries.
There were no significant supply chain disruptions or policy changes during this time, keeping the market relatively steady. However, the slight drop was attributed to cautious downstream buying and the absence of strong demand triggers in the post-winter recovery phase.
In Q2 2024 saw a modest recovery in Vitamin B3 (Niacin) Nicotinamide (>99%) prices, with the average price increasing to USD 4775/MT, a +1.60% rise quarter-on-quarter. This positive movement was largely supported by replenishment activities from downstream users in both food and pharmaceutical segments, and slight tightening of inventories among traders.
While production levels remained consistent, minor logistical inefficiencies and early summer demand uplift helped keep prices slightly elevated. Nonetheless, the market tone remained conservative as buyers resisted aggressive pricing amid broader macroeconomic caution.
In Q3 2024, the Vitamin B3 (Niacin) Nicotinamide (>99%) market witnessed a sharp surge, with prices jumping to USD 6500/MT, a significant +36.13% increase from Q2. This steep upward movement was driven by a mix of factors including supply-side constraints due to temporary maintenance shutdowns at some key plants in China, and a global spike in demand from pharmaceutical formulations and premix manufacturers.
Export demand also picked up strongly during this quarter, further tightening available volumes in the domestic market. The surge was exacerbated by speculative buying and restocking across the value chain, pushing FOB prices higher.
In Q4 2024, the Vitamin B3 (Niacin) Nicotinamide (>99%) prices corrected significantly to USD 5663.33/MT, declining by -12.87%. The correction was expected as the market adjusted from the inflated Q3 highs. Increased production resumption in Chinese plants, along with the liquidation of stockpiles accumulated earlier, contributed to the downturn.
Additionally, demand from key sectors normalized in the post-peak season, reducing the urgency for bulk purchases. Export activity also slowed slightly due to improved global availability, putting further downward pressure on prices as competition increased.
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CAS No
HS Code
Molecular Formula
Vitamin B3, also known as niacin, is a water-soluble vitamin essential for numerous critical functions in the body. It plays a key role in converting carbohydrates, fats, and proteins into energy, supporting cellular metabolism and overall vitality. Vitamin B3 is also important for maintaining healthy skin, nerves, and digestive system function. As the body cannot store significant amounts of this vitamin, it must be regularly obtained through diet or supplements to ensure proper physiological processes and prevent deficiency-related conditions.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| SL. NO. | ITEMS | SPECIFICATIONS | RESULT |
| 1. | Niacin | ≥99% | 99.13% |
| 2. | Loss on Drying | ≤5.0% | 1.59% |
| 3. | As | ≤2ppm | ≤2ppm |
| 4. | Heavy Metal (as Pb) | ≤20ppm | ≤20ppm |
| 5. | Ash Content | ≤0.1％ | 0.05% |
| 6. | Loss on Drying | ≤0.5％ | 0.1％ |
| 7. | Melting point | 234℃~238℃ | 235℃~236℃ |
| 8. | Chloride | ≤0.02% | <0.02% |
Applications
Vitamin B3 also known as niacin is extensively utilized across the health, nutrition, pharmaceutical, food, and personal care industries. In the nutrition sector, it is commonly added to fortified foods, cereals, and dietary supplements to help prevent deficiencies and support overall metabolic health. The pharmaceutical industry uses vitamin B3 in both over-the-counter and prescription products, particularly for its cholesterol-lowering properties and its role in supporting cardiovascular and neurological health. In the food industry, vitamin B3 is a standard ingredient in the enrichment of flour and grain products, ensuring adequate intake in the general population. Beyond human health, vitamin B3 is also incorporated into animal feed formulations to promote healthy growth, enhance feed efficiency, and support energy metabolism in livestock and poultry. In the personal care and cosmetics industry, niacin is valued for its skin-soothing and barrier-strengthening properties, making it a popular component in creams, lotions, and serums designed to improve skin tone, texture, and resilience. The selection of vitamin B3 for specific applications depends on the desired health outcome whether it is for nutritional supplementation, therapeutic use, food fortification, animal nutrition or cosmetic enhancement.
Geopolitical Tensions and Currency Fluctuations (2024): In 2024, the vitamin B3 market was notably impacted by rising geopolitical tensions, particularly between major exporting and importing countries. Trade uncertainties and new tariffs on chemical intermediates led to increased costs for vitamin B3 manufacturers, especially in Asia and Europe. At the same time, significant currency fluctuations affected the purchasing power of buyers in emerging markets, causing erratic shifts in demand and price negotiations. These combined factors resulted in short-term price spikes and forced many companies to re-evaluate their procurement and hedging strategies to manage ongoing volatility
Pandemic-Driven Demand Surge and Market Tightness (2020-2021): The onset of the COVID-19 pandemic in 2020 triggered a sharp increase in demand for vitamin B3 supplements, as consumers worldwide sought to bolster their immune systems and overall health. This surge in demand coincided with widespread manufacturing slowdowns and transportation restrictions, resulting in temporary shortages and elevated prices for both niacin and niacinamide. The nutraceutical and pharmaceutical sectors, in particular, experienced procurement challenges as supply chains were strained by lockdowns and export controls, highlighting the vulnerability of global vitamin markets to sudden systemic shocks
Market Expansion and Raw Material Constraints (2018): In 2018, the vitamin B3 market saw robust growth driven by rising health awareness and expanding applications in dietary supplements, animal feed, and cosmetics. However, this expansion also exposed the industry to raw material constraints, as climate anomalies and fluctuating agricultural yields affected the availability of plant-based sources like rice bran. These supply-side pressures led to intermittent price increases and prompted manufacturers to invest in advanced extraction and biosynthesis techniques to ensure consistent quality and output. The period underscored the importance of resilient sourcing strategies and technological innovation in stabilizing vitamin B3 prices amid growing global demand.
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Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Vitamin B3, also known as niacin, is a water-soluble vitamin essential for numerous critical functions in the body. It plays a key role in converting carbohydrates, fats, and proteins into energy, supporting cellular metabolism and overall vitality. Vitamin B3 is also important for maintaining healthy skin, nerves, and digestive system function. As the body cannot store significant amounts of this vitamin, it must be regularly obtained through diet or supplements to ensure proper physiological processes and prevent deficiency-related conditions.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| SL. NO. | ITEMS | SPECIFICATIONS | RESULT |
| 1. | Niacin | ≥99% | 99.13% |
| 2. | Loss on Drying | ≤5.0% | 1.59% |
| 3. | As | ≤2ppm | ≤2ppm |
| 4. | Heavy Metal (as Pb) | ≤20ppm | ≤20ppm |
| 5. | Ash Content | ≤0.1％ | 0.05% |
| 6. | Loss on Drying | ≤0.5％ | 0.1％ |
| 7. | Melting point | 234℃~238℃ | 235℃~236℃ |
| 8. | Chloride | ≤0.02% | <0.02% |
Applications
Vitamin B3 also known as niacin is extensively utilized across the health, nutrition, pharmaceutical, food, and personal care industries. In the nutrition sector, it is commonly added to fortified foods, cereals, and dietary supplements to help prevent deficiencies and support overall metabolic health. The pharmaceutical industry uses vitamin B3 in both over-the-counter and prescription products, particularly for its cholesterol-lowering properties and its role in supporting cardiovascular and neurological health. In the food industry, vitamin B3 is a standard ingredient in the enrichment of flour and grain products, ensuring adequate intake in the general population. Beyond human health, vitamin B3 is also incorporated into animal feed formulations to promote healthy growth, enhance feed efficiency, and support energy metabolism in livestock and poultry. In the personal care and cosmetics industry, niacin is valued for its skin-soothing and barrier-strengthening properties, making it a popular component in creams, lotions, and serums designed to improve skin tone, texture, and resilience. The selection of vitamin B3 for specific applications depends on the desired health outcome whether it is for nutritional supplementation, therapeutic use, food fortification, animal nutrition or cosmetic enhancement.
Vitamin B3 prices in the global market are influenced by factors such as raw material availability, manufacturing costs, and supply chain disruptions including transportation delays and plant productions. Demand growth driven by rising health awareness, lifestyle diseases, and expansion in nutraceutical, pharmaceutical, and animal feed sectors also supports price increases. Additionally, technological advances, regulatory changes, regional production capacities—especially in Asia Pacific—and competitive market dynamics shape pricing trends worldwide
Supply chain disruptions significantly impact the pricing of Vitamin B3 by reducing the availability of intermediates, increasing transport costs, and causing delays or interruptions in production and delivery. When prompt delivery becomes difficult and lower-priced material is scarce, prices tend to firm up, as seen during periods of plant shutdowns, force majeure events, or logistical bottlenecks. Even if overall demand is stable or weak, such disruptions can temporarily halt price declines or trigger short-term increases, with the market often reacting cautiously as buyers and suppliers adjust to the new supply landscape. In volatile periods, uncertainty about future availability and costs can further drive price fluctuations, making it challenging for industry players to secure stable contracts and predict long-term trends.
Regional price differences for Vitamin B3 are currently modest, with prices stable and relatively low across Asia, Europe, and North America, despite supply disruptions China as the dominant global supplier has played a key role in driving prices downward, with aggressive pricing from leading Chinese producers and increased supply helping to keep global prices soft even after temporary shortages or plant incidents. Procurement heads should adapt by closely monitoring Chinese production trends and supplier strategies, securing contracts in advance for the first and second quarters, and diversifying their supplier base to mitigate risks from unexpected disruptions. Staying agile and responsive to changes in Chinese market dynamics is essential, as shifts in output or export policies from China can quickly influence global and regional price spreads
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