L-Carnitine Market is estimated to reach US$ 378.7 Bn by 2030, Demand Likely to Surge as Economies Limp Back to Normalcy Following COVID-19 Outbreak, says FMI

Apr 07,2020 | Food and Beverages

The L-carnitine market is anticipated to expand at a CAGR of 3.2% by 2030, owing to the growing health concerns among the geriatric population. L-carnitine is known to enhance post-exercise recovery among the elderly. It also helps in reducing fatigue and boosting mental functioning. Moreover, it minimizes the risk of skeletal decline, which is common among the aging population. The product is beneficial in maintaining lean muscle mass, reducing muscle degradation, and promoting healthy aging.

The product is also used for supplementing individuals with low levels of natural L-carnitine. Deficiency may occur due to various factors such as genetic disorders, consumption of certain drugs, and medical conditions such as skeletal myopathies. Such factors have exclusively bolstered demand for L-carnitine as dietary supplements.

The spread of coronavirus has made consumers more cautious about their health. Therefore, the demand witnessed in the market is likely to improve, as economies bounce back after the crisis. 

“Increasing health awareness among consumers regarding health and increasing prevalence of chronic diseases such as cancer, diabetes, owing to busy lifestyles and improper dietary patterns are major factors driving growth of the global l-carnitine market.” says the FMI analyst.

For More Detailed Insights on L-carnitine Supplements Market

Key Takeaways from L-Carnitine Market Study

  • L-carnitine and its derivatives witnessed substantial demand in 2018 and the trend is expected to continue over the forecast period.
  • Healthcare products such as nutritional supplements for weight management, energy, and endurance accounted for the largest market share.
  • The functional drinks segment is expected to witness the fastest CAGR in the foreseeable future.
  • Investors are worried that coronavirus spread will destroy economic growth and may not be enough policy action to prevent decline. Several nations, including the UK, have seen central banks slash interest rates, in response.
  • The pharmaceutical sector in North America is the largest continental pharma market across the globe.
  • Market players are focused on providing vast product portfolio, better customer service, and enhanced value to their customers.
global l carnitine market competitive outlook pr

Competitive landscape

Key players operating in the market include Lonza Group Ltd., Northeast Pharmaceutical Group Co., Ltd. (NEPG), Biosint S.p.A., Cayman Chemical, Merck KGaA, Tokyo Chemical Industry Co., Ltd., Ceva Santé Animale S.A., Kaiyuan Hengtai Chemical Co., Ltd., Chengda Pharmaceuticals Co. Ltd., Huanggang Huayang Pharmaceutical Co. Ltd., and Hubei Yuancheng Technology Co. Ltd.

Market players are focused on providing vast product portfolio, better customer service, and enhanced value to their customers In addition, they are offering standalone or integrated and cost-effective solutions to assist organizations. They put high emphasis on providing customized products to their clients to gain a competitive edge. Moreover, these companies ensure to equip their facilities with high technical expertise and operational capacity to offer integrated services to their clients.

Find More Valuable Insights on L-Carnitine Market

Future Market Insights, in its new report, brings to fore an unbiased analysis of the global L-carnitine market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the L-carnitine market on the basis of product, the market is segmented into food & pharma grade and feed grade. Based on process, the market is segmented into chemical synthesis and bioprocess. Based on application, the market is segmented into healthcare product, functional drink, medicine and animal food. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

About Food & Beverages division of FMI

Expert analysis, actionable insights, and strategic recommendations - the Food & Beverages team at FMI helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 100+ countries for over a decade. The team provides end-to-end research of the global food & beverage market and consulting services; know how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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