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.
|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)
Tokyo Chemical Industry Co., Ltd.
Kaiyuan Hengtai Nutrition Co., Ltd.
ChengDa PharmaCeuticals Co., Ltd.
Huanggang Huayang Pharmaceutical Co. Ltd.
HuBeiYuancheng SaichuangTechnology Co, .Ltd.
Food & Pharma Grade
Functional Food & Beverages
Central & South America
The L-carnitine market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of L-carnitine market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global L-carnitine market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the L-carnitine market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted L-carnitine market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the L-carnitine capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of L-carnitine by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global L-carnitine market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major L-carnitine market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of L-carnitine market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the L-carnitine industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
L-carnitine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to L-carnitine market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of L-carnitine market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new L-carnitine market. These factors have benefited the growth of the global market for L-carnitine. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for L-carnitine. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of L-carnitine are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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