For the Quarter Ending March 2025
North America
In the first quarter of 2025, the North American market for Nicotinamide recorded a notable average price decline of 16.64%. This movement in the Vitamin B3 market was largely driven by sluggish downstream demand from key sectors like pharmaceuticals, nutraceuticals and personal care. Buyers and procurement specialists showed caution in fresh purchases due to the presence of ample inventories carried over from the previous year’s end.
Seasonal transition from winter to early summer months also contributed to this price adjustment, as consumption patterns in Vitamin B3 supplements and related formulations remained modest. Additionally, the market experienced steady logistics with no major disruptions which allowed Vitamin B3 suppliers and distributors to maintain consistent deliveries. However, tariff structures in place on certain pharmaceutical raw materials slightly pressured margins and encouraged nicotinamide distributors to adopt competitive pricing strategies.
The overall niacinamide demand stayed underwhelming, with production cycles in major North American facilities paced conservatively to avoid oversupply situations. The region’s Vitamin B3 market exhibited a cautious and well-strategized procurement environment throughout the first quarter of 2025.
Asia Pacific
In the Asia Pacific region, the Vitamin B3 market recorded a 16.32% average price decrease in the first quarter of 2025 from previous quarter. This decline was most visible in South Korea and other key markets influenced by regional price shifts. A primary factor affecting this drop was the subdued procurement activity during the Chinese Lunar New Year holidays, which typically slows down trading and production cycles across APAC.
Major Vitamin B3 suppliers and distributors carried sufficient inventory into the new year, limiting aggressive buying behaviour. Additionally, seasonal transition from winter to spring further eased demand for Vitamin B3 supplements and nutraceutical blends, with consumption patterns adjusting to milder weather. The pharmaceutical sector also witnessed routine demand levels, without any significant increase in Vitamin B3 formulations.
The logistics operations remained smooth throughout the region in first quarter of 2025 and ensured uninterrupted product availability. The overall niacinamide market sentiment in APAC was shaped by conservative procurement strategies, well-managed stock levels and the cautious pace of downstream sector demand recovery post-holiday period.
Europe
During the first quarter of 2025, the European Nicotinamide market, led by Germany as a major hub has witnessed a 17.29% average price drop on quarterly basis. This sharp decline in market value niacinamide reflected subdued demand across pharmaceuticals, Vitamin B3 supplements and personal care formulations. The European Vitamin B3 market carried forward sizable inventories from the final quarter of 2024 and this limited the urgency for fresh procurements.
The downstream demand remained moderate, as health supplement consumption tends to stabilize post-winter months. Vitamin B3 distributors in Europe maintained a steady supply chain without major logistical constraints which helped in maintaining consistent availability. Procurement strategies remained cautious, with buyers carefully managing stock levels in anticipation of routine seasonal demand rather than any immediate spikes.
Furthermore, well-timed production cycles in region ensured there were no unexpected supply shortfalls and contributed to a balanced market environment. The Vitamin B3 market across Europe displayed a well-regulated approach, as niacinamide consumption remained aligned with historical trends for the first quarter of the year.
For the Quarter Ending December 2024
North America
During Q4 2024, the Nicotinamide (Vitamin B3) market in North America demonstrated a mixed trend, with initial firmness in October followed by persistent weakness through December. The quarter began with robust momentum as pharmaceutical and nutrition supplement manufacturers engaged in active procurement by the US importers amid supply concerns and rising production costs in China. However, this bullish sentiment proved short-lived as market fundamentals shifted significantly.
The market dynamics transformed notably post-October, influenced by increasing availability of competitively priced material from Asian sources. US buyers adopted a cautious stance, reducing procurement volumes as supply chains normalized and inventories remained comfortable. The steady demand from nutrition and animal feed sectors proved insufficient to prevent the downward trend, while domestic distributors initiated strategic destocking to manage year-end positions.
December witnessed intensified bearish sentiment as suppliers accelerated destocking initiatives amid growing competition ahead of Christmas holidays. The animal feed sector's seasonal slowdown further weakened demand fundamentals, while pharmaceutical buyers maintained minimal inventory positions. End-users leveraged the softening market conditions to negotiate better terms, adopting a wait-and-watch approach as bearish sentiment deepened. The quarter concluded with sustained downward pressure as strategic destocking and cautious buying patterns dominated market dynamics.
APAC
In Q4 2024, Nicotinamide (Vitamin B3) prices in APAC markets experienced significant volatility, beginning with sharp appreciation in October before transitioning to a sustained downward trend. The initial price surge was driven by production cost increases and temporary supply tightness following China's Golden Week. However, post-holiday operations resumed with rapidly changing market sentiment as improved production rates and softening demand fundamentals emerged.
Chinese manufacturers, who initially maintained firm positions citing production costs and environmental compliance requirements, gradually adjusted their stance as market conditions shifted. The region witnessed increasing competition among producers, with several facilities ramping up production rates to maintain market share. Trading activities slowed considerably as both domestic and international buyers adopted increasingly conservative purchasing strategies.
December brought systematic destocking initiatives as manufacturers focused on managing year-end inventories amid weakening market conditions. Several facilities reported increasing inventory pressure despite attempts to optimize production rates. The combination of improved supply availability, softening demand patterns, and strategic inventory management by producers accelerated the downward price trajectory. Export markets remained particularly challenging, with competitive pressures intensifying as suppliers sought to maintain market share.
Europe
In Q4 2024, Nicotinamide prices in Germany reflected the global market volatility, starting with October's firmness before aligning with the broader downward trend. The quarter began with strong market fundamentals as buyers responded to rising Asian offers and supply uncertainties. However, European manufacturers soon faced increasing pressure to adjust prices as market conditions deteriorated.
The bearish sentiment intensified through November despite stable pharmaceutical sector demand. Buyers leveraged the shifting market dynamics to optimize procurement costs, while merchants faced growing margin pressure. The market witnessed increased competition among distributors, with several players actively reducing stock positions to align with weakening prices.
December's market dynamics were characterized by accelerated price depreciation as European distributors competed to reduce inventories. The combination of strategic destocking, ample supply availability, and seasonal demand slowdown maintained strong downward pressure. While consumption patterns remained relatively steady across pharmaceutical applications, the market's bearish orientation strengthened through quarter-end. The sustained price decline reflected both global market fundamentals and regional demand softness, creating an increasingly challenging environment for suppliers maintaining higher price positions.
