The Global Vitamin B12 Market was valued at an estimated USD 385.2 Million in 2023 and is projected to reach USD 560.8 Million by 2031, growing at a Compound Annual Growth Rate (CAGR) of approximately 4.8% during the forecast period (2024–2031). This consistent growth is primarily driven by the rising prevalence of vitamin B12 deficiencies, increasing health consciousness among consumers, and the expanding application of B12 in pharmaceutical formulations, fortified foods, and animal feed.

As the global focus on preventive healthcare and nutritional well-being intensifies, the companies that produce and supply this essential vitamin are playing a critical role. In this detailed analysis, we profile the Top 10 Companies in the Vitamin B12 Industry—a group of established pharmaceutical giants, specialized biochemical producers, and strategic innovators shaping the nutritional landscape.

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🔟 1. Sanofi

Headquarters: Paris, France
Key Offering: Pharmaceutical-grade Cyanocobalamin, Hydroxocobalamin, B12 Injections and Supplements

Sanofi is a global healthcare leader and a major supplier of high-purity Vitamin B12, primarily for pharmaceutical applications. The company produces critical B12 formulations used to treat pernicious anemia and other deficiency-related conditions, distributing its products through a vast network spanning over 150 countries.

Key Market Strengths:

• Extensive portfolio of prescription and OTC B12 products

• Strong R&D focus on advanced drug delivery systems for B12

• Established global supply chain and regulatory expertise

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9️⃣ 2. Hebei Yufeng Group

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Feed-grade and Food-grade Vitamin B12 (Cyanocobalamin)

Hebei Yufeng Group is one of China’s largest and most significant manufacturers of Vitamin B12, with a strong focus on the feed industry. The company utilizes advanced fermentation technology to produce B12 at a large scale, catering to the massive demand from the global animal nutrition sector.

Key Market Strengths:

• High-capacity production facilities with cost-effective manufacturing

• Dominant position in the feed-grade B12 segment

• Strategic expansion into higher-purity pharmaceutical ingredients

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8️⃣ 3. Hebei Huarong Pharmaceutical

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Pharmaceutical-grade B12, B12 Active Pharmaceutical Ingredients (API)

Hebei Huarong Pharmaceutical specializes in the production of fine chemicals and pharmaceutical intermediates, with Vitamin B12 being a core product. The company is recognized for its high-quality B12 API, which is supplied to drug manufacturers worldwide for use in injectables, tablets, and capsules.

Key Market Strengths:

• GMP-certified manufacturing plants ensuring high purity standards

• Significant export volume to North American and European markets

• Vertical integration in the production process for quality control

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7️⃣ 4. Ningxia Kingvit Pharmaceutical

Headquarters: Yinchuan, Ningxia, China
Key Offering: Cyanocobalamin (0.1%, 1%), B12 for feed and food fortification

Ningxia Kingvit Pharmaceutical is a key player in the Vitamin B12 market, with a strong production base in Western China. The company’s products are widely used in animal feed premixes and human nutrition, serving both domestic and international customers with a reliable supply of cost-effective B12.

Key Market Strengths:

• Specialization in different B12 concentration grades for diverse applications

• Competitive pricing strategy strengthening its position in price-sensitive markets

• Continuous investment in fermentation technology optimization

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6️⃣ 5. NCPC VICTOR

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Vitamin B12 API, Feed Additives, Pharmaceutical Intermediates

NCPC VICTOR, a subsidiary of the North China Pharmaceutical Group Corporation (NCPC), is a major force in the global vitamin and antibiotic markets. The company leverages its extensive microbial fermentation expertise to produce high-quality Vitamin B12, serving a broad spectrum of industries from pharmaceuticals to animal health.

Key Market Strengths:

• Backing by NCPC, one of China’s largest pharmaceutical groups

• Strong technical capabilities and large-scale production capacity

• Integrated supply chain from raw materials to finished B12 products

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Global Vitamin B12 Market – View in Detailed Research Report

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5️⃣ 6. DSM (Now part of Firmenich)

Headquarters: Kaiseraugst, Switzerland
Key Offering: High-purity Vitamin B12 for human nutrition, personalized nutrition solutions

DSM, now operating as DSM-Firmenich following a merger, is a global science-based company active in health, nutrition, and bioscience. The company offers premium-quality Vitamin B12 as part of its extensive vitamin portfolio, with a strong emphasis on sustainability, scientific backing, and innovative application solutions for its customers.

Key Market Strengths:

• Strong brand reputation and global distribution network

• Leading position in the high-value human nutrition segment

• Commitment to sustainable and traceable production processes

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4️⃣ 7. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Vitamin B12 for animal nutrition and human dietary supplements

BASF is a leading chemical company and a significant supplier of vitamins, including B12, to the global market. The company’s B12 is integral to its comprehensive animal nutrition portfolio, helping to ensure the health and performance of livestock, and is also supplied for use in fortified foods and supplements.

Key Market Strengths:

• World-class production technology and quality assurance systems

• Extensive technical support and customer service for feed manufacturers

• Strategic focus on developing innovative solutions for animal health and efficiency

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3️⃣ 8. CSPC Pharmaceutical Group

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Vitamin B12 API, Finished dosage forms (tablets, injections)

CSPC Pharmaceutical Group is a major Chinese pharmaceutical company with a growing presence in the Vitamin B12 API market. The company invests significantly in R&D and manufacturing, producing B12 that meets international pharmacopeia standards for use in its own pharmaceutical products and for supply to other manufacturers.

Key Market Strengths:

• Dual role as both a B12 API producer and a finished drug manufacturer

• Increasing capacity and quality standards to compete globally

• Strong domestic market presence with expanding international footprint

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2️⃣ 9. Jiangshan Pharmaceutical

Headquarters: Shijiazhuang, Hebei, China
Key Offering: Vitamin B12, Antibiotics, and other pharmaceutical products

Jiangshan Pharmaceutical is a well-established manufacturer with a diverse product portfolio that includes Vitamin B12. The company utilizes fermentation technology to produce B12, serving the needs of the feed and pharmaceutical industries with a focus on consistent quality and supply reliability.

Key Market Strengths:

• Diversified product base providing operational stability

• Established export channels to various international markets

• Experience in managing complex fermentation-based production

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1️⃣ 10. Zhejiang Garden Biochemical

Headquarters: Jinhua, Zhejiang, China
Key Offering: Vitamin B12, Vitamin D3, Cholesterol

Zhejiang Garden Biochemical is a leading producer of cholesterol and Vitamin D3, and it also has capabilities in Vitamin B12 production. The company’s involvement in the B12 market adds to its position as a key supplier of essential nutrients to the global feed and food industries.

Key Market Strengths:

• Synergies from producing multiple fat-soluble and water-soluble vitamins

• Strong technical expertise in biochemical synthesis and fermentation

• Growing reputation as a reliable supplier in the nutritional ingredients space

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🌍 Outlook: The Future of the Vitamin B12 Market is Driven by Health and Innovation

The global Vitamin B12 market is on a stable growth trajectory, underpinned by fundamental drivers in healthcare and nutrition. The industry is evolving from being a commodity supplier to a source of innovative, application-specific solutions that address modern health challenges.

📈 Key Trends Shaping the Market:

• Rising demand for plant-based and vegan-friendly B12 supplements due to growing vegan and vegetarian populations

• Increasing geriatric population globally, which is more susceptible to B12 malabsorption and deficiency

• Advancements in fermentation technology leading to higher yields and more sustainable production processes

• Expansion of B12 fortification in staple foods and beverages in emerging economies to combat隐性饥饿 (hidden hunger)

Get Full Report Here:
Global Vitamin B12 Market – View in Detailed Research Report

The companies profiled above are not just manufacturing a vital nutrient—they are enabling better health outcomes for humans and animals worldwide, driving the next wave of nutritional innovation.