Activated Charcoal Supplements Market to Grow at Astounding Growth Rate
Surging intestinal diseases coupled with eco-friendly properties of activated charcoal will drive growth for activated charcoal supplements between 2019 and 2029. The activated charcoal supplements market will grow at an astounding CAGR of more than 11% during the forecast period.
Raw materials used in manufacturing charcoal such as coconut shell, olive stones, peat, fruit pits, and saw dust are organic in nature. Diseases such as acute indigestion, diarrhea, and flatulence are effectively treated with activated charcoal supplement tablets and capsules. On top of these factors, the rising awareness about the benefits of activated charcoal will drive growth through the end of 2029.
Powder Products Lead Demand Generation
Activated Charcoal Powder exhibits share-wide dominance over capsules, tablets, and other alternative product types. This can be attributed to the highly soluble nature of activated charcoal powder which makes it an effective method to utilize its medical properties.
Powder is closely followed by tablets which hold more than 1/4th of the market share. Glacial to adapt to changing trends, the geriatric population still prefers tablets over capsules, powder, or other product types. Since, a majority of consumers belong to the geriatric population, tablets are well-poised as the second most preferred product type.
North America Thrusts Market, Latin America, and Europe Present Lucrative Opportunities
North America creates over 1/4th of total demand for activated carbon. Early adopters such as the US are central to this majority market share where the geriatric population is considering organic ways to treat intestinal problems. Latin America and Europe follow North America with a collective market share of more than 1/4th of the total market value.
Although it is currently 4th in terms of global division, East Asia offer the most lucrative growth opportunities with a stellar 13% CAGR from 2019 to 2029. Countries in East Asia such as China, Hong-Kong, and Japan are driving this growth on the back of economic development which includes increasing expendable income of consumers, information penetration through the internet, and healthcare infrastructure development.
End-use Industry Applications Impel Future Revenues
Innovative applications of activated charcoal in water treatment, automotive, and industrial activities will generate remunerative growth opportunities during the forecast period. Emerging economies of East Asia and Latin America are expected to drive demand generation.
Rapid increase in expenditure on preventive healthcare practices is a major factor of this growth trend. Market players are investing in new product development and expanding their global footprint through strategic partnerships. Government regulations over water treatment and mercury emission are global drivers that will have a positive impact on the activated charcoal supplements market.
Drug Stores Drive Global Sales
Drug stores are the most preferred source of activated charcoal supplements. They encompass more than 1/3rd of global sales. This is followed by health & beauty stores which garner 22% of total sales of activated charcoal supplements.
Geriatric population and baby-boomer consumers are still buying their supplements from the local drug store. Intestinal diseases are most common among these consumer groups. Health & beauty stores on the other hand, are engaging the millennial consumer by positioning themselves as a specialty store that caters to health issues and enhance beauty quotient of walk-ins.
FREQUENTLY ASKED QUESTIONS (FAQS)
What drives the activated charcoal supplements market?
Increasing number of geriatric consumers coupled with a surge in intestinal diseases drive the activated charcoal supplements market. Activated charcoal supplement is gaining advocates in the form of satisfied consumers that acts as driver for the growth of this market.
Which factors put market players at risk?
Disproportionate raw material availability put market players at risk. Stringent regulatory standards for industrial end-uses present restraints to an otherwise spurring activated charcoal market. Market players can circumvent these risks by research and development of efficient application of activated charcoal supplements.
Which region will lead the global sales of activated charcoal supplements?
North America leads the global sales of activated charcoal supplements owing to the geriatric population in North American economies. This is followed by Latin America and Europe which collectively account for more than 1/4th of the total market value. Developing economies in Latin America face an alarming increase in need for water purification which in turn increase the demand for activated charcoal supplements.
Which product-type segment offers most lucrative growth opportunities?
Powder provides the most lucrative growth opportunities. Its highly-soluble nature enables numerous applications in versatile industries. Tablets is another segment that follows powder product types in terms of revenue generation.
Which segment based on sales channel will record the highest growth?
Drug Stores will record the highest growth in terms of sales channels. It currently dominates the market with a market share of more than 35% with continued growth during the forecast period.
Market Segmentation
The global activated charcoal supplement market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type
- Capsules
- Tablets
- Powder
- Others (Granules, Gel, etc.)
By Sales Channel
- Drug Stores
- Health & Beauty Stores
- Modern Trade
- Third-Party Online Channels
- Company Online Channels
- Practitioner Channels
By Primary Function
- Antidiarrheal
- Detoxification
- Anti-Bloating
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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