The global l-carnitine market size is expected to be worth around US$ 280.5 million by 2030, according to a new report by Vision Research Reports.
The global l-carnitine market size was valued at US$ 190.0 million in 2020 and is anticipated to grow at a CAGR of 7.1% during forecast period 2021 to 2030.
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L-carnitine Market (By Process: Chemical Synthesis, Bioprocess; By Product: Food & Pharma Grade, Feed Grade; By Application: Animal Feed, Healthcare Products, Functional Food & Beverages, Medicines) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 280.5 million by 2030,|
|Growth Rate||CAGR of 7.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Process, Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Lonza; Northeast Pharmaceutical Group Co., Ltd. (NEPG); Biosint S.p.A.; Cayman Chemical; Merck KGaA; Tokyo Chemical Industry Co., Ltd.; Ceva; Kaiyuan Hengtai Nutrition Co., Ltd.; ChengDa PharmaCeuticals Co., Ltd.; Huanggang Huayang Pharmaceutical Co. Ltd.; HuBeiYuancheng SaichuangTechnology Co, .Ltd.|
Growing consumer awareness regarding product benefits, along with increasing demand from end-use industries such as pharmaceutical, nutraceutical, and animal feed, is projected to drive the market over the forecast period.
The market is witnessing a high growth owing to a rising health-conscious consumer base, increasing number of product launches consisting of L-carnitine, and increasing demand from the animal feed industry.
L-carnitine and its derivatives are used for numerous applications including male infertility, kidney treatment, cardiovascular diseases, weight reduction, and bone mass. It is also used in various products including animal feed, health supplements, functional drinks, medicines, and other nutraceutical products.
By Process Analysis
The bioprocess segment held the market and dominated for the highest revenue share of over 77.0% in 2020. Rising commercial demand for L-carnitine has compelled the manufacturers to improve their processes to upsurge production yield.
The most conventional process used to produce L-carnitine with the best yield is a bioprocess based on achiral precursors’ biotransformation such as γ-butyrobetaine, crotonobetaine, and 3-dehydrocarnitine, or racemic mixtures such as D, L-carnitinamide, D, L-acyl carnitine, and D, L-carnitine.
The chemical synthesis process is slowly gaining momentum owing to its ability to produce L-carnitine on an industrial scale. There are several chemical procedures available for the synthesis of L-carnitine namely asymmetric synthesis, chemical multi-step racemization, enzymatic techniques, resolution through diastereomeric derivatives, and synthesis using chiral materials.
By Product Analysis
The food and pharmaceutical grade segment held the market and dominated for the highest revenue share of more than 79.0% in 2020. Food and pharmaceutical grade L-carnitine is primarily used for human consumption for numerous applications including healthy aging, male fertility, infant nutrition, weight management, and post-exercise recovery.
Though the product is found naturally in certain foods including meat, avocado, and beans, a certain level of L-carnitine is needed to maintain its adequate level in the body depending upon age, diet, and other factors. The product is consumed through various routes including oral consumption through nutritional supplements, medicines, functional food and beverages, and injections.
By Application Analysis
The healthcare products dominated the market and dominated for the highest revenue share of more than 35.0% in 2020. L-carnitine is widely used in numerous healthcare products including supplements for weight loss and enhanced stamina.
With the growing consumption of dietary supplements due to the rising prevalence of obesity, increasing consumer awareness regarding personal health and wellbeing, changing lifestyle, and growing spending capacity, the dietary supplement market is expected to reach USD 272.4 billion by 2028.
Supplementation of L-carnitine in the diet of animals significantly improves their body weight gain, feed intake, and feed conversion in broiler chicken. Supplementation of L-carnitine in feed improves energy utilization and fatty acid and therefore, live weight gain and feed conversion efficiency may be improved in poultry.
By Regional Analysis
North America dominated the L-carnitine market and accounted for the largest revenue share of over 38.0% in 2020. Over the past decade, the functional food and beverages industry has seen a huge growth in North America with the expansion of a health-conscious consumer base in the region.
L-carnitine has proved to be an essential component for the treatment and prevention of various ailments, which has made it an attractive functional food and beverage ingredient. The increased level of energy and stamina including other health benefits has made consumers more biased toward functional food and beverages inclusive of L-carnitine.
The nutraceutical industry in Europe is expected to grow due to an increase in the purchase of supplements as a preventive approach to health concerns. In addition, consumers prefer herbal products over pharmaceuticals due to the latter’s side effects.
- Northeast Pharmaceutical Group Co., Ltd. (NEPG)
- Biosint S.p.A.
- Cayman Chemical
- Merck KGaA
- Tokyo Chemical Industry Co., Ltd.
- Kaiyuan Hengtai Nutrition Co., Ltd.
- ChengDa PharmaCeuticals Co., Ltd.
- Huanggang Huayang Pharmaceutical Co. Ltd.
- HuBeiYuancheng SaichuangTechnology Co, .Ltd.
- Chemical Synthesis
- Food & Pharma Grade
- Feed Grade
- Animal Feed
- Healthcare Products
- Functional Food & Beverages
- North America
- Asia Pacific
- South Korea
- Central & South America
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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