During the first and second quarters of 2023, the price trajectory of biotin exhibited regional variations. In Asia, prices underwent fluctuations primarily attributed to decreased demand from downstream industries. However, China’s export rates and relaxed trade policies provided a temporary boost to international off-take. In Europe, the overall trend remained predominantly positive owing to the prevalence of expensive Asian imports, heightened demand, and diminishing inventory levels. Nevertheless, the latter part of the second quarter saw a decline due to waning buyer interest, escalating inventories, and economic challenges. Meanwhile, North America witnessed a sustained decrease in biotin prices in the first quarter, influenced by factors such as restricted trade, inflation, and uncertainties in the energy market. Only a momentary upswing in prices occurred, driven by substantial orders during this period.
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Definition
Biotin, recognized as vitamin H or B7, falls into the category of water-soluble B-complex vitamins that are indispensable for a range of metabolic functions. It functions as a coenzyme in the creation of fatty acids, amino acids, and glucose, which are pivotal for energy generation and the upkeep of skin, hair, and nails in good health. Biotin can be acquired through dietary sources, including eggs, nuts, select vegetables, or in the form of a dietary supplement. Its insufficiency can result in skin problems, hair loss, and various other health-related concerns, underscoring its significance as a vital micronutrient for overall well-being.
Key Details About the Biotin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Biotin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Biotin Price forecast, including India Biotin price, USA Biotin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Biotin Price Trend:
Biotin, primarily acknowledged as a crucial dietary supplement and essential nutrient for human well-being, boasts a wide array of industrial applications. The pharmaceutical industry harnesses biotin in medicinal formulations to combat deficiency issues and enhance skin, hair, and nail health. In biotechnology, it plays a pivotal role as a labeling agent, facilitating the detection of biomolecules in laboratory assays. Biotin finds application in fortifying a variety of food and beverage products, including energy drinks and infant formulas. Furthermore, in the realm of cosmetics and personal care, it takes center stage in the formulation of shampoos, conditioners, and nail care products due to its perceived benefits for hair and nails. Additionally, biotin serves as a stabilizing agent in the production of diverse materials such as plastics and polymers, thus underscoring its remarkable versatility and industrial significance.
Key Players:
- Church & Dwight Co Inc
- Nestle S.A.
- Nutraceutical Corporation
- Life Extension Foundation Buyers Club Inc
- The Nature’s Bounty Co
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