L-Carnitine Supplements Market Value to Surpass US$ 378.7 Bn in 2030
The global L-carnitine supplements market exhibits CAGR of 3.2% and will surpass the mark of US$ 378.7 Bn by 2030. This FMI study reveals that the market will grow at a steady pace during 2020 - 2030.
L-carnitine additives are used to increase the rate of lactation in cows. Alternatively, oral administration of L-carnitine is recommended for increasing sheep in order to improve plasma glucose concentrations. Consistent use of L-carnitine supplements, however, has been shown to have positive effects on growth efficiency, carcass composition, and pig breeding. Changing the eating habits of the elderly population often means reduced appetite and lower energy rates. The reduction in the consumption of nutritious food results in a decline in dietary intake of both L-carnitine and L-carnitine. This reduction in energy metabolism can be reversed with L-carnitine supplementation because of the low levels of L-carnitine.
KEY RESEARCH FINDINGS
- Majorly buoyed by the thriving health & wellness trend among consumers and continued application in animal feed industry, consumption of L-carnitine supplements sustains in global market.
- Sales of L-carnitine supplements are poised at a sluggish rate over the projection period, 2020 – 2030.
- Technological advancements related to manufacturing techniques are projected to play a significant role in driving market growth.
- North America continues to be the key market for L-carnitine supplements.
- Market consolidation in Asia Pacific remains key to gaining a distinct advantage due to growing consumer spending on health products and rapid adoption of fitness trends, especially among proactive millennial population.
- Increasing government investments in healthcare and similar industries is further expected to present lucrative opportunities for key players in the L-carnitine supplements market.
- Rising manufacturing efficiency, low prices of product quality standards for raw materials, increasing health concerns and growing populations in emerging economies such as India and China are expected to fuel growth in the Asia Pacific L-carnitine market.
KEY FACTORS SHAPING THE L-CARNITINE SUPPLEMENTS MARKET
Rising Consumer Inclination Towards Health-centric Regime
Rising health concerns among consumers, especially geriatric cohort, are primarily responsible for increasing adoption of L-carnitine supplements. As the older generation is more prone to disorders related to heart, and kidney, L-carnitine supplements are increasingly becoming key ingredient in therapeutics. In addition, consumers worldwide are showing greater inclination towards health-centric products as part of their preventive healthcare. This again is auguring well for L-carnitine market.
Animal Feed Remains Primary Application Area
L-carnitine supplements are increasingly finding immense use in animal feed. Driven by rising concerns regarding overall safety and quality of meat and meat products, producers are leveraging L-carnitine supplements in such products, thus, boding well for global L-carnitine market. L-carnitine is used in producing of feed for several animals including, pigeons, pigs, and racing horses, with the aim to enhance their daily performance, average rate of gain, and overall progress. Such use cases are providing further impetus to L-carnitine supplements market in coming years.
COVID-19 Impact on L-carnitine Supplements Market
The coronavirus (COVID-19) pandemic is affecting not only humankind, but also global economic order. The pandemic is putting squeezing on L-carnitine supplements market, especially in China, where the virus originated. As such, governments in several countries in APAC including, China, and India, have imposed nationwide bans, and logistics restrictions to curb the contagion of the pandemic. This has resulted in severe disruptions in supply chain of L-carnitine supplements market.
L-CARNITINE SUPPLEMENTS MARKET STRUCTURE ANALYSIS
- 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.
- These companies ensure to equip their facilities with high technical expertise and operational capacity to offer integrated services to their clients.
Base year considered
Actual estimates/Historical data
2015 – 2019
2020 – 2030
Value (USD) Bn
Grade, Application, End use.
North America, Latin America, Europe, APEJ, Japan, and MEA.
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.
Revenue forecast, company share, competitive landscape, growth factors, and trends
Increasing Awareness for Health Related Conditions Fuels Demand
Growing awareness of patients about the treatment of various diseases, unhealthy lifestyle, growing geriatric population base globally are some of the main drivers for the potential growth of the l-carnitine industry. Additionally, obesity related complication such as chronic fatigue, diabetes, and heart attack are some of the key driver which can increase the consumption of l-carnitine in the near future. However, along with these positive factors, some other factors which can restrict the growth of market such as, fluctuating raw material prices, cheap prices of substitutes, etc. Manufacturers have a strong opportunity to develop a manufacturing hub in China and India as a result of rising raw material production efficiency, cheap price, and low-rate labor availability are some of the factors that can create more opportunities for manufacturers in the coming evaluation period.
Developing Countries Offer Lucrative Growth Opportunities
Overall, North America is experiencing the positive outlook in L-carnitine production potential due to the high prevalence of obesity among the population base and the rising incidence of related issues, and is being used in growing end-use industries, including food, pharmaceutical and personal care industries. The l-carnitine market is anticipated to register healthy growth owing to increasing end-user application across the world.
The Asia Pacific market is expected to witness for rapid growth during the forecast period, especially in China and India. Moreover, increasing manufacturing capacity, cheap prices of raw materials quality standard of products, increasing health concern and growing population in emerging economics such as India and China is expected to boost the growth the Asia Pacific L-carnitine market. However, the recent coronavirus outbreak may hamper the growth of the market to an extent. Lockdown imposed in China, India and other countries to contain the spread of COVID-19 has caused disruptions in supply chain. This can negatively impact the overall market.
Low customer awareness in Eastern Europe and the Middle East & Africa area over the forecast period is expected to be prominent constraints on market growth. Latin America, as compared to the Middle East & Africa region, is expected to see weak growth. A number of countries around the world have started to implement very tough steps to avoid the spread of the Covid-19 outbreak. Countries and world capital were placed under tight lockdown, putting a total halt to the major manufacturing chains.
L-Carnitine Increasing Manufacturing Innovations Witness Growth
The L-carnitine market is expected to witness significant growth over the forecast period owing to increasing innovations in manufacturing processes. Chemical synthesis and bioprocess are the commonly used processes for manufacturing. Bioprocess generated a large market share in 2018, and the trend is projected to continue over the forecast period due to the highest yield and environmental benefits it provides. Chemical synthesis is gaining traction on the market gradually though. Chemical multistep racemization is the most commonly used chemical synthesis process for the manufacturing of L-carnitine, which generates racemic mixture with D-carnitine as a byproduct. In general, the cycle starts with the inclusion of raw materials such as epichlorohydrin and trimethylamine, accompanied by the isolation of a racemic mixture by fractional crystallization.
Animal feed holds leading revenue share
Healthcare products to showcase noteworthy CAGR
Chemical synthesis accounts for highest market share
Bioprocess to rapidly grow over the forecast period
How Growth will Unfold
With increased implementation of new rules regarding supplement markets in different countries, market players are hard pressed to adjust their marketing strategies to each country's regulations. Such players emphasize further the distinction of nutritional statements and product ingredients according to the rules and consumer expectations for an increased customer base and a stronger global presence. It has contributed to emphasis on launching new product portfolio line, thus maintaining a reliable, high-quality raw material supply through mergers and acquisitions.
Manufactures are integrating a line of vegan L-carnitine supplements into their product range in an effort to reach rising vegan consumers. For instance, in October 2019, Lonza announced the launch of vegan ingredient formulation called MuscleGuard - a patent blend of four nutrients - L-carnitine, Leucine, and Creatine with vitamin D.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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L-Carnitine Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the L-Carnitine market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the L-Carnitine market, the growth prospects of the market are obtained with maximum precision.
L-carnitine Supplements Market Taxonomy
The global L-Carnitine market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Food Grade
- Pharmaceutical Grade
- Feed Grade
- Functional Drink
- Healthcare Product
- Animal Food
- Male Infertility
- Kidney Treatment
- Bone Mass
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the L-Carnitine market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global L-Carnitine market.
Readers can find the detailed segmentation and definition of the L-Carnitine market in this chapter, which will help them understand basic information about the L-Carnitine market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the L-Carnitine market report.
The associated industry assessment of the L-Carnitine market is carried out in this section. The macroeconomic factors affecting growth of the L-Carnitine market are provided in this section and the impact of these macroeconomic indicators on the L-Carnitine market is analyzed. The processing overview and technological advancements in the L-Carnitine market is also provided.
Profit margins at each level of the L-Carnitine market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the L-Carnitine market.
The drivers and restraints impacting the growth of the L-Carnitine market are explained in this chapter. Opportunities and ongoing trends in the L-Carnitine market are also comprehensively discussed.
This chapter includes detailed analysis of the historical L-Carnitine market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on Grade, the L-Carnitine market is segmented into food grade, pharmaceutical grade and feed grade. In this chapter, readers can find information about key trends and developments in the L-Carnitine market and market attractiveness analysis based on raw material.
Based on Application, the L-Carnitine market is classified into functional drink, medicine, healthcare product and animal food. This part also offers market attractiveness analysis based on Application.
Based on End use, the L-Carnitine market is classified into male infertility, kidney treatment, and bone mass. This part also offers market attractiveness analysis based on End use.
Based on Distribution channel, the L-Carnitine market is classified into online and offline. This part also offers market attractiveness analysis based on Distribution channel.
This chapter explains how the L-Carnitine market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the L-Carnitine market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the L-Carnitine market in Latin America. This chapter also includes growth prospects of the L-Carnitine market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the L-Carnitine market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, and the Rest of Western Europe are included in this chapter.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia L-Carnitine market.
This chapter includes a detailed analysis of the growth of the L-Carnitine market in the East Asia region, along with a country-wise assessment that includes Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
This chapter offers insights into how the L-Carnitine market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of L-Carnitine in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the L-Carnitine market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the L-Carnitine market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Lonza Group Ltd., Koncepnutra, Northeast Pharmaceutical, Biosint, Hengtai Chemical, KangXin Chemical, Chengda Pharmaceutical, HuaYang, Kangjian Chemical, AIDP and others (Biosynth AG, Wuhan Yuancheng Technology Development Co., Ltd, Hongjing Chemical, Qingdao FTZ United International Inc. and Ningbo Honor Chemtech Co., Ltd).
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the L-Carnitine report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the L-Carnitine market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits