Get the latest insights on price movement and trend analysis of Biotin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Biotin Price Trends for July-September of 2023
Biotin belongs to the family of water-soluble B vitamins with excessive employability in the pharmaceutical and cosmetic industries. It is naturally obtained from food sources such as eggs, nuts, and vegetables and synthetically from the bacteria culture.
Biotin’s price trends, thus, are dictated by its industrial uses and methods of production. The cost of natural raw materials used in its production in India surged due to a variety of factors. The most significant contributor to this rise in prices was uneven rainfall and ill consequences of climate change observed in the agricultural sectors. To curb these rising rates of inflation in the food sector, the government took strict measures, such as an export ban, which helped stabilize the trajectory of the biotin price graph in the third quarter of 2023.
According to Procurement Resource, the price of Biotin is expected to trace an oscillating trajectory in view of the government’s efforts to control inflation in the food sector.
Biotin Price Trends for the First Half of 2023
The price trend of biotin fluctuated throughout the first and second quarters of 2023, as there was a considerable decline in the demand from the downstream industries. In the first quarter, China strengthened its export rates and eased its trade policies that, boosted the international offtakes.
In the second quarter, however, the production activities declined along with the weak demand from the downstream industries and the low number of offtakes from the domestic and international traders. In addition to this, trade was also affected by the slow recovery of the Chinese economy after the pandemic and the ongoing struggling global markets due to the Russia-Ukraine crisis.
In European countries, the price trend of biotin showcased a mixed signal but majorly remained on the positive end as the imports from Asian countries became expensive due to the strengthening of Asian currency. In addition to this, the surge in demand from the end-user industries caused the level of inventories to decline and thus supported the rising trend of biotin prices. However, the trajectory of the biotin price trend slumped in the last phase of the second quarter.
The main causes of this decline were the reduction in the appetite of buyers, the rise in stockpiles of inventories, and the weak performance of the economy. In addition to this, inflation in food and energy prices also hampered the growth of the biotin price trend.
The first quarter of 2023 proved to be unfavorable for the biotin market as its price trend declined consistently. The biotin market was adversely affected by the restricted trade, high inflation, and uncertainties in the energy production market caused by the Russia-Ukraine crisis.
In April, there was a slight rise in the prices as end-user industries presented large orders and slow supply chains failed to cater to this high demand. However, in the subsequent months, the decline in the prices of biotin was a direct consequence of the poor purchasing potential of buyers and high-interest rates.
According to Procurement Resource, the price trend of Biotin is expected to decline in the upcoming quarters. The market activities of biotin will be dependent on the demand from downstream industries and the efficiency of supply chains.
Procurement Resource provides latest prices of Biotin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Biotin is also known as vitamin B7 which is an essential ingredient in various metabolic processes. It also acts as a coenzyme in the production of fatty acids, amino acids, glucose and also in energy production processes. It helps in the growth of skin cells, hair, and nails. It is also added to food sources and is also naturally obtained from eggs, nuts, and certain vegetables. Its deficiency can lead to skin disorders, hair loss, and other health issues, making it an important micronutrient for overall well-being.
|Industrial Uses||Wastewater treatment, Cosmetics and personal care, Agriculture, Food and beverage industry, Biotechnology|
|Molecular weight||244.31 g/mol|
|Supplier Database||Church & Dwight Co Inc, Nestle S.A., Nutraceutical Corporation, Life Extension Foundation Buyers Club Inc, The Nature's Bounty Co|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The reaction of cyclic acid with dextroamine produces cyclic amine that on further reaction with potassium borohydride and hydrochloric acid gives a product which is combined with potassium thioacetate to give thioketone. In the next step, thioketone is reacted with formate reagent, and then is subjected to hydrogenation. Finally, via debenzylation, crude biotin is produced and by the help of charcoal, pure biotin is finally produced.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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