Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 182.23 Billion in 2020 L-carnitine market will reach USD 296.83 Billion by 2030. The human body needs a lot of vitamin C to produce L-carnitine. It can also be used as a dietary supplement. L-carnitine is produced by eating meat and fish. L-Carnitine has been showed to aid in post-exercise recovery in older people. During the projected period, the market is expected to benefit from increased public awareness of the significance of regular examinations and a growth in the number of treatments for various ailments and diseases.
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Key Insight of the L-carnitine Market
North America emerged as the most significant market, with a 34.4% market revenue share in 2020.
North America dominated the market, with a market share of around 34.4% in 2020. The functional food and beverage business has seen enormous expansion in North America over the last decade due to the emergence of a health-conscious client base in the region.
The bioprocess segment dominated the market, with a market share of around 72% in 2020.
In 2020, the bioprocess segment led the market, accounting for about 72% of the market. Because of the increasing commercial demand for L-carnitine, manufacturers have been obliged to enhance their operations to maximise manufacturing output. Asymmetric biological processes involving microorganisms and enzymes have traditionally produced high yields.
The food & pharmaceutical grade segment dominated the market, with a market share of around 75% in 2020.
In 2020, the food & pharmaceutical grade segment led the market, accounting for about 75% of the market.
People take pharmaceutical and food-grade L-carnitine for various reasons, including healthy ageing, male fertility, baby feeding, weight control, and post-exercise recovery. The chemical is absorbed orally via dietary supplements, medications, multifunctional meals and beverages, and infusions. It is necessary for supporting the body's natural healing process following physical effort.
Over the forecast period, the functional food and beverages segment is anticipated to grow at the highest CAGR of 7%.
Because of a growing taste for nutrient-rich foods and beverages among a large population, the functional food and beverages segment is expected to develop at the quickest CAGR of over 7% throughout the projected period. Demand for L-carnitine in the food and beverage industry has increased by 2.2 per cent due to increased demand for functional foods and beverages.
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Market Dynamics
Driver: Increasing consumer awareness regarding product advantages
Product benefits such as enhanced muscle healing, reduced muscular discomfort, and muscle gain are expected to drive market expansion, increasing product demand across various application industries. The increased use of L-carnitine supplementation for post-exercise recovery, weight control, and healthy ageing is expected to boost the market throughout the forecast period. The market is expected to expand as the number of l-carnitine supplements increases. Other factors driving the l-carnitine market growth during the forecast period include increased awareness of the benefits of l-carnitine, increased usage in animal feed, rising demand for preventive healthcare, rising obesity-related complications, and technological advancements.
Restraint: Side effects of the l-carnitine
Risks connected with l-carnitine side effects and variations in raw material costs will hamper market growth over the projection period.
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Some of the major players operating in the L-carnitine market are:
• Biosint S.p.A.
• Cayman Chemical
• Ceva
• ChengDa PharmaCeuticals Co., Ltd.
• HuBei Yuancheng SaichuangTechnology Co, Ltd.
• Huanggang Huayang Pharmaceutical Co. Ltd.
• Kaiyuan Hengtai Nutrition Co., Ltd.
• Lonza
• Merck KGaA
• Northeast Pharmaceutical Group Co., Ltd. (NEPG)
• Tokyo Chemical Industry Co., Ltd.
Key Segments cover in the market:
By Process:
• Chemical Synthesis
• Bioprocess
By Product:
• Feed Grade
• Food & Pharmaceutical Grade
By Application:
• Healthcare Products
• Animal Feed
• Functional Food and Beverages
• Medicines
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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