Rockville, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global coenzyme Q10 market is estimated to be valued at US$ 689.5 million in 2023 and is expected to grow at a CAGR of 7.2% during the forecast period of 2023–2033.
CoQ10 is available in various foods. It acts as an antioxidant and protects cells from damage and plays an important part in metabolism. CoQ10 is a naturally occurring nutrient-like coenzyme that plays a key role in the production of 95% energy at the cellular level.
Within the body, the biggest producer and consumer of energy is the heart muscle, which requires ample amounts of CoQ10 to keep it running optimally every day. Hence, the demand for coenzyme Q10 is likely to increase with the growing healthcare sector. Further, increasing government investment in the pharmaceutical industry is likely to open multiple doors for the coenzyme Q10 manufacturer.
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Over the period, rising awareness regarding health and well-being has forced governments across the globe to increase their investment in the pharmaceutical and healthcare industry, which in turn drives the coenzyme Q10 consumption.
Key Takeaways from Market Study
- The global coenzyme Q10 market is projected to grow at 7.2% CAGR and reach US$ 1,381.9 million by 2033
- The market witnessed a 5.8% CAGR between 2018 to 2022
- US is anticipated to grow at a CAGR of 7.1% between 2023–2033
- North America is likely to represent 26.3% of the coenzyme Q10 market share
- China market is expected to grow at a CAGR of 7.3% in the forecast period
- Coenzyme Q10 for pharmaceuticals is likely to dominate the maximum market share in the forecast period
“Emphasis on Leading an Active Lifestyle to Spur the Consumption of Coenzyme Q10, During the Forecast Period” says a Fact.MR analyst.
Segmentation of Coenzyme Q10 Industry Research
- By Product Type :
- Ubiquinone
- Ubiquinol
- By Production Method :
- Microbial Fermentation
- Chemical Synthesis
- By End-Use Industry :
- Pharmaceuticals
- Nutraceuticals
- Cosmetics
- Other
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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| Report Attributes | Details | |
| Estimated Market Value (2023E) | US$ 689.5 Million | |
| Forecasted Market Value (2033F) | US$ 1,381.9 Million | |
| Global Market Growth Rate (2023–2033) | 7.2% CAGR | |
| North America Market Share (2023) | 26.3% | |
| No. of Pages | 170 Pages | |
| No. of Tables | 112 Tables | |
| No. of Figures | 93 Figures | |
Market Growth Strategies
Manufacturers in the coenzyme Q10 market are focusing on strategic collaboration, mergers & acquisitions, which is likely to help companies in improving production capacity as well as their presence in the untapped markets. Long-term trade relations with the end-users and suppliers enable market titans to survive during unfavorable trade situations.
For instance, in 2021 Kaneka Corporation launched Watashi no Chikara Q10-Yogurt. This product offers the consumer a convenient option to fulfill the dietary requirement of the CoQ10.
Key Companies Profiled
- Kaneka Corporation
- Xiamen Kingdomway Group
- Nisshin Seifun Group
- Kyowa Hakko U.S.A. Inc.
- Tishcon Corporation
- Pharmavite LLC
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the coenzyme Q10 market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of product type (ubiquinone and ubiquinol), production method (microbial fermentation and chemical synthesis), end-use industry (pharmaceutical, nutraceutical, cosmetics, and other), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East & Africa).
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