For the Quarter Ending December 2025
APAC
• In South Korea, the Nicotinamide Price Index rose by 3.7% quarter-over-quarter, due to modest restocking.
• The average Nicotinamide price for the quarter was approximately USD 4840.00/MT, with balanced supply conditions.
• Nicotinamide Spot Price firmness followed Chinese offers and freight stability, supporting the local Price Index.
• Nicotinamide Price Forecast expects mild firmness as Lunar New Year and restocking elevate import demand.
• Nicotinamide Production Cost Trend saw upward pressure from energy tariffs and compliance-related landed cost increases.
• Nicotinamide Demand Outlook remains constructive as pharmaceuticals, nutraceuticals, and feed premix replenishment support steady offtake.
• Inventory drawdowns and routine Busan port operations tightened usable supply, underpinning the Nicotinamide Price Index.
• Domestic Ulsan capacity remained limited, sustaining import reliance and preserving Nicotinamide Spot Price resilience year-end
Why did the price of Nicotinamide change in December 2025 in APAC?
• End-year restocking by pharmaceutical and nutraceutical buyers increased offtake, tightening prompt availability at Busan warehouses.
• Chinese offers firmed due to inspections, reducing spot availability and lifting CFR valuations and premiums.
• Compliance-related customs delays and slightly higher energy tariffs trimmed accessible inventories, strengthening sellers negotiation leverage.
Europe
• In Germany, the Nicotinamide Price Index rose by 3.09% quarter-over-quarter, reflecting firmer Chinese export offers.
• The average Nicotinamide price for the quarter was approximately USD 4890.00/MT, as reported by importers.
• Smooth port operations and steady arrivals supported firmer Nicotinamide Spot Price versus earlier softer ideas.
• Nicotinamide Production Cost Trend showed limited upward pressure from Chinese complex margins and stable energy.
• Nicotinamide Demand Outlook stayed positive as pharmaceutical, nutraceutical, and feed sectors sustained steady winter offtake.
• Distributor inventory discipline kept the Nicotinamide Price Index orderly, preventing speculative buying and volatile shorting.
• Nicotinamide Price Forecast indicates near current settlement absent further Chinese export hikes or logistical disruptions.
• Domestic production covered one third of demand, leaving import dependency and sensitivity to Asian offers.
Why did the price of Nicotinamide change in December 2025 in Europe?
• Chinese exporters lifted offers modestly, transmitting higher FOB values into German CFR landed costs recently.
• German buyers undertook measured restocking ahead of year end, increasing short term procurement demand materially.
• Logistics normalized after earlier disruptions, improving arrivals and enabling firms to accept firmer quotes promptly.
North America
• In the USA, the Nicotinamide Price Index rose by 3.52% quarter-over-quarter, driven by tighter availability.
• The average Nicotinamide price for the quarter was approximately USD 4903.33/MT CFR Los Angeles levels.
• Nicotinamide Spot Price strengthened as Port allocations tightened while the Price Index signalled firmer market.
• Nicotinamide Price Forecast points to modest gains as end users frontload ahead of CNY maintenance.
• Nicotinamide Production Cost Trend remained stable with feedstock 3-cyanopyridine prices flat, limiting upward margin pressures.
• Nicotinamide Demand Outlook shows steady nutraceutical and pharmaceutical offtake supporting sustained purchasing without speculative stockpiling.
• Inventory drawdowns at West Coast hubs tightened coverage, increasing export allocation competition and strengthening offers.
• Domestic plant operated normally but import reliance remained high, limiting local relief and prolonging tightness.
Why did the price of Nicotinamide change in December 2025 in North America?
• Export diversion tightened U.S. prompt supply, pushing the Price Index upward despite reduced freight costs.
• Domestic inventories declined to two weeks coverage, prompting buyers to compete and secure import cargoes.
• Feedstock and producer offers ticked higher as bookings strengthened, outweighing freight declines and supporting price.
For the Quarter Ending September 2025
North America
• In the USA, the Nicotinamide Price Index fell by 9.14% quarter-over-quarter, reflecting subdued downstream demand.
• The average Nicotinamide price for the quarter was approximately USD 4736.67/MT, reported by import statistics.
• Nicotinamide Spot Price stayed weak amid abundant exports, keeping the Nicotinamide Price Index under pressure.
• Nicotinamide Price Forecast indicates gradual recovery potential while Nicotinamide Production Cost Trend remains broadly stable.
• Nicotinamide Demand Outlook shows selective restocking that supports a firmer Nicotinamide Price Index this quarter.
• High inventories and steady export offers capped upside for Nicotinamide Spot Price despite buying spurts.
• U.S. logistics remained efficient, so Nicotinamide Price Index movements primarily reflected genuine demand and procurement.
• Personal care and nutraceutical procurement drove measured buying, informing the Nicotinamide Price Forecast and strategies.
Why did the price of Nicotinamide change in September 2025 in North America?
• Elevated importer inventories reduced urgent buying, pressuring the Nicotinamide Price Index downward in September 2025.
• Weak downstream offtake from nutraceuticals and personal care limited purchases, constraining Nicotinamide Spot Price recovery.
• Exporters maintained ample availability and softened offers while stable logistics removed supply-driven support for prices.
APAC
• In South Korea, the Nicotinamide Price Index fell by 8.68% quarter-over-quarter amid persistently subdued demand.
• The average Nicotinamide price for the quarter was approximately USD 4666.67/MT across import channels overall.
• Exporters maintained steady volumes, pressuring the Nicotinamide Spot Price and limiting immediate upward momentum subsequently.
• Supplier quotations firmed modestly, informing a cautious Nicotinamide Price Forecast for immediate upcoming months regionally.
• Lower feedstock and energy inputs moderated the Nicotinamide Production Cost Trend, easing producer margin pressures.
• Buyer behaviour shifted from opportunistic to coverage, shaping a pragmatic Nicotinamide Demand Outlook for Q4.
• Elevated inventories and steady export flows kept Nicotinamide Price Index subdued despite urgent replenishment episodes.
• Smooth logistics and uninterrupted supplier production limited freight shocks and supported steady Nicotinamide Spot Price.
Why did the price of Nicotinamide change in September 2025 in APAC?
• Renewed buyer coverage in September tightened spot demand after prior weak offtake, prompting upward adjustments.
• Export offers firmed as suppliers curtailed discounts, reflecting improved regional orders and modest currency headwinds.
• Inventories began normalising but remained elevated, so restocking pace supported price recovery without triggering spikes.
Europe
• In Germany, the Nicotinamide Price Index fell by 8.31% quarter-over-quarter, reflecting weak downstream offtake conditions.
• The average Nicotinamide price for the quarter was approximately USD 4743.33/MT, reported by importers nationwide.
• Nicotinamide Spot Price stayed subdued, the Price Index reflecting ample exports and muted procurement activity.
• Nicotinamide Price Forecast indicates modest gains as importers cautiously rebuild inventories ahead of Q4 demand.
• Nicotinamide Production Cost Trend remained stable with no feedstock pressure, limiting movement in Price Index.
• Nicotinamide Demand Outlook shows gradual recovery as pharmaceutical and nutraceutical buying reinitiates inventory replenishment ahead.
• Nicotinamide Price Index likely to strengthen as downstream stocks tighten and export offers firm overseas.
• Major manufacturers operated smoothly and logistics remained efficient, supporting steady supply and Price Index movements.
Why did the price of Nicotinamide change in September 2025 in Europe?
• Synchronized restocking after July softness increased importer demand, tightening availability and lifting landed import costs.
• Stable production but firmer export offers and freight support raised CFR levels, despite efficient logistics.
• Recovery in downstream offtake reduced inventories and exerted upward pressure on import prices in Germany.
For the Quarter Ending June 2025
North America
• As of June 2025, the CFR Los Angeles Nicotinamide Spot Price was recorded at USD 5010/MT and reflected a 1.57% month-over-month drop, after an earlier steep fall of 8.12% in May. This reflects a steadily weakening Price Index fuelled by subdued demand and oversupplied market conditions.
• Why did the price change in July 2025?
The Nicotinamide Spot Price in North America continued its downward trajectory into July 2025 due to persistently low procurement activity across pharmaceuticals and food-grade formulations. With high inventory carryovers and no major policy shifts or logistic bottlenecks, buyers remained cautious. The lack of recovery in downstream demand delayed any price stabilization that resulted in further market softness in the July Price Index.
• Demand from fortified foods, immunity supplements, pharmaceutical formulations and personal care segments remained weak in Q2. Major U.S. buyers adopted a need-based procurement strategy and waited for improved buying conditions.
• Elevated inventory levels across U.S. ports and distribution hubs dampened restocking interest. Buyers relied on existing stockpiles due to continued low offtake, further softening the Nicotinamide Price Forecast.
• Uninterrupted production in China and other export hubs ensured abundant supply with no bottlenecks. Logistical flows into major ports like Los Angeles functioned smoothly, placing no upward pressure on prices.
• Earlier uncertainties around U.S. tariff policy on Chinese-origin Nicotinamide influenced price concessions from exporters. This created a deflationary effect on the Nicotinamide Spot Price throughout the quarter.
• Falling maize prices (key fermentation feedstock) led to a reduction in Nicotinamide Production Cost Trend globally, enabling exporters to maintain competitive offers even amid weak buyer sentiment.
• Buyers delayed procurement in June in anticipation of Q3 price correction, expecting better clarity on pricing. This anticipatory approach further pressured sellers to reduce offers.
• Chinese and Indian exporters lowered quotations aggressively to clear slow-moving inventories. The continuous production against sluggish global offtake translated to a broader bearish sentiment.
• With limited signs of demand revival, the Nicotinamide Price Forecast indicates continued softness into early Q3 unless pharmaceutical demand rebounds or maize costs rise again.
Asia Pacific
• As of June 2025, the CFR Busan Nicotinamide Spot Price was USD 4850/MT, down 3.19% from May. This capped a quarter-long decline, including an 8.41% drop in May, affirming APAC’s deflationary pricing trend.
• Why did the price change in July 2025?
In July 2025, the Nicotinamide Spot Price in APAC markets such as South Korea declined further, reflecting prolonged weak downstream offtake and a heavy inventory position. Without any logistical or policy disruptions, consistent oversupply and inactive procurement kept the July Price Index depressed.
• The pharmaceutical, nutraceutical, and functional food segments showed little restocking throughout Q2. Personal care players also postponed purchases, awaiting improved consumer movement.
• APAC buyers, especially in South Korea, were holding elevated stocks from previous cycles. The slow turnover of these inventories meant very little forward buying during the quarter.
• Exporters in China and India operated at full capacity with no production disruptions. The ample supply created intense competition among sellers and pressured prices.
• The fall in maize and glucose prices enabled manufacturers to cut costs and maintain margins even at lower selling prices, reinforcing the downtrend in Nicotinamide Spot Price.
• Trade logistics remained fluid with no major disruptions at Busan and other key ports. Consistent container availability and stable transit times supported smooth inflows.
• Importers in APAC maintained a cautious procurement pattern. Many delayed bulk orders and chose to monitor price stabilization signals before committing to Q3 contracts.
• To stay competitive amid widespread surplus, exporters adjusted pricing aggressively. This aligned with their strategy to maintain shipment flows despite weak end-user engagement.
• Without any catalysts for demand recovery, the Nicotinamide Price Forecast for APAC remains bearish for early Q3. Any turnaround depends on a rebound in supplement and skin-care product sales or seasonal upturns in fortified food demand.
Europe
• In July 2025, the Nicotinamide Spot Price in Europe dropped further as buyers in Germany and wider EU markets continued deferring purchases amid high stock availability and tepid downstream demand. With no new trade restrictions or macroeconomic stimulus, the market remained bearish, reflecting a weaker Price Index.
• The CFR Hamburg Nicotinamide Spot Price in June 2025 stood at USD 4930/MT, down 2.57% month-on-month. This followed an 8.5% drop in May, indicating sustained pressure on the Nicotinamide Price Index from oversupply and cautious procurement behavior.
• European importers entered Q2 with sizable inventories, especially across the pharmaceutical and dietary supplements sectors. This dampened demand for fresh imports and encouraged a drawdown strategy.
• Downstream sectors such as fortified foods, fatigue formulations, and skincare products registered minimal restocking activity. End-users purchased strictly for ongoing needs, signaling a weak Nicotinamide Demand Outlook.
• Port operations at Hamburg and other major EU ports were stable. Consistent lead times and smooth customs processing ensured that availability was not a concern for importers.
• Chinese exporters, facing global oversupply and weak sentiment, reduced their quotations significantly. These offers directly influenced European import prices, resulting in double-digit cumulative declines for Q2.
• Global production costs stayed subdued due to falling glucose (maize-derived) feedstock prices. This allowed exporters to sustain aggressive pricing without operational stress.
• Buyers remained aligned with real-time consumption metrics. Any speculative or forward purchasing was avoided, keeping overall trade volume low.
• The European Nicotinamide market in 2025 has been normalizing from last year’s firm price cycles. This reversionary trend maintained price softness throughout Q2.
• Given no sign of immediate demand recovery or input cost spikes, the Nicotinamide Price Forecast remains weak for Q3 in Europe, unless macroeconomic conditions or retail trends improve.
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.
