Vegemite is a nutritious and versatile food in fact its one of the worlds richest sources of b group vitamins b vitamins assist in converting carbohydrate protein and fat in food into much needed energy for the body in addition b vitamins are important for proper functioning of the nervous system muscle and brain some b vitamins such as b6 and folate are required for production of red blood cells in the body whereas niacin helps maintain healthy skin and a digestive tract vegemite has no