HS Code:
Niacin (Vitamin B3) and niacinamide are essential vitamins and nutritional supplements widely used in pharmaceuticals, food additives, and cosmetics. Classified under HS Code 2936.29, these products play a critical role in human and animal nutrition, supporting metabolic processes. Niacin is often used to treat cholesterol issues, while niacinamide is popular in skincare for its anti-inflammatory and antioxidant properties. Global trade in this category is driven by demand for health supplements and fortified foods, especially in developed and emerging markets.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Increasing
USD 80 million
6.7% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for dietary supplements
Increased exports from major producers like China and India as consumers focus on preventive healthcare post-COVID-19.
2021-2022
Growth in cosmetic applications
Niacinamide's popularity in skincare has boosted trade, particularly in markets like South Korea and the EU, driving innovation in formulations.
2020-2022
Shift towards sustainable production
Manufacturers adopting eco-friendly production methods to meet regulatory and consumer demands, influencing trade costs and competitiveness.
2022
China implemented new policies to streamline export processes for vitamins, leading to a significant increase in niacin and niacinamide shipments.
March 2023
Strengthened China's position as the leading exporter, potentially pressuring prices downward globally.
The European Union introduced stricter guidelines on niacinamide use in cosmetics, requiring detailed safety assessments.
July 2023
Possible short-term trade disruptions for exporters not meeting new standards, while ensuring higher product safety.
The United States reduced tariffs on niacin imports from select trade partners under new bilateral agreements.
September 2023
Expected to boost imports from countries like Germany and the Netherlands, diversifying supply chains.