Coenzyme Q10 Market size is forecast to exceed USD 1 billion by 2024; according to a new research report.
Positive trend towards increasing application scope for dietary supplements and medical treatment industry should drive Coenzyme Q10 market size. It is used in disease treatment such as mental disorders and cardiovascular ailments.
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Asia Pacific, led by India and China Coenzyme Q10 market size, should register over USD 280 million. Emergence of small scale manufacturers along with increasing cosmetics usage in India and China should favor regional industry growth. Favorable regulatory guidelines along with positive application outlook in personal care products demand should favor CoQ10 market size. Presence of SMEs in China along with large scale manufacturers in Japan should help the industry to surge Coenzyme Q10 export mainly to Europe and North America.
Coenzyme Q10 market size from dietary supplements applications may witness significant gains at above 9%. Increasing energy generating compounds and antioxidant demand in dietary supplement product formulation due to change in consumer lifestyle among youth should drive industry growth. It is used in the formulation for oil capsules such as vegetable oil, soy bean, oral sprays, tablets, capsules and hydrophilic gels.
Few companies are engaged in distribution and supply of the product to cosmetic, dietary supplement manufacturers and pharmaceutical industries. Key raw materials used for product manufacturing include malt extract, hexane HPLC, yeast extract, absolute alcohol, tryptone, and peptone. These chemicals may witness supply shortage owing to their application in different industries which may impact Coenzyme Q10 market price trend.
Europe Coenzyme Q10 market size, should witness consumption gains at above 9% by 2024. Increasing cosmetic products demand should drive regional growth. Growth in personal care and cosmetic industries in France, UK and Germany should favor regional industry growth.
U.S. Coenzyme Q10 market size from dietary supplement applications expects gains at over 8.5%. Growing awareness towards nutritional products consumption should positively influence on regional industry growth.
CoQ10 market size from cosmetic applications are poised to generate over USD 135 million by 2024. It finds application in formulation for anti-wrinkle or anti-aging products, sunscreen lotions and moisturizing product formulations. Coenzyme Q10 is used as an antioxidant and neutralizes skin from harmful free radicals.
Coenzyme Q10 Market By Application Pharmaceutical, Dietary Supplements, Cosmetics, Others.
The above information has been provided on a regional and country basis for the following: North America, U.S., Canada, Europe, UK, Germany, France, Italy, Russia, Poland, Asia Pacific, China, India, Japan, LATAM, Brazil, Mexico.
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Coenzyme Q10 demand from pharmaceutical applications may witness significant gains over the forecast timeframe. CoQ10 deficiencies are found in diseases such as cognitive ailments, cardiovascular, and periodontal. Positive effects on Parkinson’s and migraine treatments must favor product demand in pharmaceutical applications.
LATAM, led Brazil CoQ10 market size, may witness steady gains. Rising per-capita disposable income along with growing organic &natural cosmetics products should drive industry growth.
Global coenzyme Q10 market share is concentrated. Key companies are Nisshin Sheifun, ZMC, and Kaneka. Other prominent companies include DSM, Hwail Pharmaceutical, Vitamin Shoppe, Gnosis, Kyowa Hakko, SourceOne, Healthy Origins, NBTY, PharmaEssentia, Pharmavite, and Tishcon Country.
Some businesses in CoQ10 market are engaged in forward integration to yield profitability and reduce supplier costs. Many companies are engaged in agreements with distributors and suppliers to ensure product availability across different regions.
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