By Zhang Lun

Among many vitamins, vitamin B12 is small in yield but high in value. In recent years, the demand for vitamin B12 is increasing at home and abroad. With the continuous breakthroughs in the production technology of vitamin B12 in China, output growth has entered a fast lane, and export volume has been increasing. Due to the new progress in the clinical application of vitamin B12, the demand for drugs, health products and animal feed is strong, and there is still a great potential for growth in the next few years.
   At present, the total output of vitamin products has reached more than 420 kt. The annual output of vitamin B12 reaches more than 400 tons, accounting for about 0.1% of the total output of vitamin products. But its price is far ahead of other vitamin products. Vitamin C, which has the highest output in vitamin families in China, had the average export price of US$5.8/kg in 2017, while the average export price of vitamin B12 at the same time was US$496/kg.
   Vitamin B12 is extremely difficult for chemical synthesis and is not suitable for industrial production. All vitamin B12 products are prepared by biological fermentation to prepare its main structure.
   Vitamin B12 was produced by the North China Pharmaceutical Factory in 1966 for the first time in China. It was extracted from the fermentation waste liquid of streptomycin and gentamycin. In 1972, researchers from North China Pharmaceutical Factory successfully produced vitamin B12 by pure fermentation. The product of vitamin B12 began to grow. In the middle of 1980s, the annual output of vitamin B12 all over the country exceeded 100 kg. By the end of the 1980s, the annual output reached 150 kg and the capacity reached 200 kg/a. In 1990s, the annual output of vitamin B12 in China increased further and exceeded 200 kg.
   Domestic producers gradually introduced excellent strains since the middle of 1990s, and output began to increase significantly. China's vitamin B12 production entered a period of rapid growth. In 1997, the annual output of vitamin B12 reached 2 327 kg, with a capacity of 3 800 kg/a. In the late twentieth century, the annual output of vitamin B12 reached 4 tons, with a capacity of 6 t/a.
   Since twenty-first century, China's vitamin B12 production has entered a fast lane. At present, the total capacity of vitamin B12 in raw material medicine grade, food additive grade and feed additive grade has reached more than 450 t/a.
   Up to June 1, 2018, the total number of approval documents for vitamin B12 production was 581, of which 9 were for raw material medicines. In addition, Mecobalamin had 80 numbers for production approval documents, of which 20 were for raw material medicines of Mecobalamin. Adenosine cobalamin had 32 numbers for production approval documents, of which 4 were for raw material medicines of adenosine cobalamin.

Rapid growth of export

   In foreign countries, vitamin B12 is widely used in animal feed, nutritional supplements and food fortifier besides medical (including OTC) applications. Over the years, the demand for vitamin B12 in the international market has been relatively strong, and the output has been relatively low, resulting in its price being at a high level for a long time.
   Vitamin B12 has been exported from China for a long time. In 2017, the export volume of vitamin B12 was 348 tons, with an increase of 4.8% YoY. The export value was US$172.60 million, with an increase of US$29.96 million over the previous year of US$142.64 million, increased by 21%. The average export price was US$496/kg, with an increase of US$66/kg over the same period, increased by 15.3%.
   At present, Chinese vitamin B12 has been exported to over 100 countries and regions around the world. Among them, exports to the US are the largest, accounting for 50%~60% of total exports. Exports to the top 10 countries and regions account for 90% of the total export volume. The main export province of vitamin B12 in China is Hebei Province, which has occupied more than 85% of the total export volume for many years, and has decreased to 70% in recent years. The main export enterprises in China are North China Pharmaceutical, Hebei Huarong, Hebei Yuxing, Ningxia Jinwei and so on.

Bullish on the future prospects

   In the future, the market demand of vitamin B12 will still increase considerably, and the development prospect will be broad.
   First, progress has been made in clinical application. In recent years, medical experts at home and abroad have carried out extensive and in-depth pharmacological studies on vitamin B12, and their clinical uses are expanding. For example, vitamin B12 can be used to treat trigeminal neuralgia, viral hepatitis, cirrhosis, periarthritis of shoulder, olfactory loss, chronic skin ulcers and so on. In recent years, the pace of people's work and life has been accelerated, and the number of diseases of the nervous system is increasing, and vitamin B12 has a good effect on the disease of the nervous system.
   Second, the power of market demand is strong. China's economy will continue to develop rapidly and people's living standards will continue to improve. The demand for vitamins and all kinds of vitamins, nutritious foods and health-care products will increase, and the consumption of meat, poultry, eggs, milk and so on will continue to increase. As an important feed additive, vitamin B12 is a necessary biocatalyst for livestock growth and development.
   Since twenty-first century, China's breeding industry has developed rapidly. The growth rate of feed production is astonishing, and the average annual feed output has increased by about 8 million tons in the past more than 10 years. In 2000, the country's feed production was 75 million tons, and now it has reached 200 million tons. In the past, the consumption of vitamin B12 in China's feed additives was very small. In recent years, the consumption in this area has been increasing, and there is still much room for development in the future.
   In addition, the international demand for various vitamin foods will also increase. The multivitamin preparations as medicines for OTC have been widely used abroad, and the market demand will increase in the future. In some emerging economy countries, Southeast Asia, South Asia and other areas, the economic growth rate is very fast, and the demand for vitamin B12 is growing rapidly. For example, India has now become the second largest country in the export of vitamin B12 from China, and the export of vitamin B12 to India accounts for about 12% of the total export of China. It is expected that the market consumption potential of these regions will increase in the future.