New York, United States, Feb. 26, 2024 (GLOBE NEWSWIRE) -- L-carnitine is an amino acid that aids in fat metabolism and is used as a supplement in patients with low energy levels. Red meat, salmon, peanut butter, dairy, and dairy products naturally contain L-carnitine. L-carnitine also helps with weight management, sports nutrition, cardiovascular health, and energy levels during pregnancy. L-carnitine is a white, crystalline powder that can hold moisture due to its hygroscopic properties. It has been shown that L-carnitine helps older people recover from exercise more quickly. It also helps to lessen fatigue and enhance mental performance.
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Improved Animal Food Use of the Product Drives the Global Market
According to Straits Research, “The global L-carnitine market was valued at USD 177 million in 2021. It is expected to reach USD 267.60 million by 2030, growing at a CAGR of 4.7% during the forecast period (2022–2030).” Growing concerns about the safety and quality of meat have led to an increase in the use of nutritional supplements in animal feed. L-carnitine supplementation in animal feed can enhance development, performance, and the reproductive process. The demand for L-carnitine is expected to rise as chicken consumption rises, particularly among fitness enthusiasts. Broiler chicken's average daily gain increased, and its abdominal fat content decreased after using the product. L-carnitine found in feed improves the physical and reproductive performance of racing pigeons. The increase in pigeon-related sporting events is likely to encourage the use of feed, which is also anticipated to fuel market expansion.
Rising Investments in Research and Development Creates Tremendous Opportunities
There is fierce competition in the industry due to the presence of manufacturing behemoths on the market that makes significant R&D investments to enhance their products. L-carnitine is a product that many companies are interested in, which increases competition. It is applied in high-end settings, like athletics, and the healthcare sector offers lucrative growth prospects.
Regional Analysis
North America L-carnitine market share is expected to grow at a CAGR of 5.3% during the forecast period. The United States has the largest revenue share in the pharmaceutical sector due to many significant market participants, including AbbVie Inc. In addition, the adoption of novel ingredients like L-carnitine in products like power drinks has increased due to recent changes in the research and business practices of the pharmaceutical and functional food and beverage industries. Additionally, consumer product awareness has boosted its use in various application fields.
Europe is expected to grow at a CAGR of 4.9%, generating USD 84.40 million during the forecast period. The nutraceutical industry in Europe is anticipated to expand due to an increase in the purchase of supplements as a preventative measure for health problems. Customers prefer herbal remedies over pharmaceuticals because of their adverse side effects. Due to the growing acceptance of nutraceuticals as a way to improve health without running the risk of severe health issues, it is anticipated that the market for L-carnitine will expand over the forecast period. The increased meat consumption in European countries like Germany and the UK is expected to encourage the use of feed to promote the growth and well-being of the animals. Along with the demand for swine feed, L-carnitine demand is anticipated to rise. L-carnitine helps to encourage pig growth and makes conception easier. The demand for swine feed in Germany is expected to rise, which will help the L-carnitine market grow.
Asia-Pacific is expected to grow significantly over the forecast period. Consumption of dietary supplements and ingredients for functional foods has significantly increased over the past ten years in developing countries like China and India. In developed countries like South Korea, Australia, and Japan, the market for nutraceuticals has recently demonstrated an upward growth trajectory. A growing market for L-carnitine has emerged in the Asia-Pacific due to pervasive health and wellness trends. The country's expanding urban population, which has recently sparked interest in self-health using dietary supplements and preventive medicine, is one factor driving China's L-carnitine market's rapid growth.
Key Highlights
- Based on process, the global L-carnitine market is bifurcated into chemical synthesis and bioprocess. The bioprocess segment is the highest contributor to the market and is expected to grow at a CAGR of 5.3% during the forecast period.
- Based on the product, the global L-carnitine market is bifurcated into food and pharma grade and feed grade. The food and pharma grade segment owns the highest market share and is expected to grow at a CAGR of 5.4% during the forecast period.
- Based on application, the global L-carnitine market is bifurcated into animal feed, healthcare products, functional food and beverages, and medicines. The healthcare products segment is the highest contributor to the market and is expected to grow at a CAGR of 5.3% during the forecast period.
- North America is the most significant shareholder in the global L-carnitine market and is expected to grow at a CAGR of 5.3% during the forecast period.
Competitive Players
The global l-carnitine market’s major key players are Lonza, Northeast Pharmaceutical Group Co., Ltd. (NEPG), Biosint S.p.A., Cayman Chemical, Merck KGaA, Tokyo Chemical Industry Co., Ltd, Ceva, Kaiyuan Hengtai Chemical Co., Ltd, ChengDa PharmaCeuticals Co., Ltd, Huanggang Huayang Pharmaceutical Co. Ltd, and HuBei Yuancheng Saichuang Technology Co. Ltd.
Market News
- In July 2022, Lonza announced plans to erect a sizable commercial medicinal product fill and finish facility in Stein (CH). With the investment, the business will be able to provide customers with a thorough and integrated end-to-end solution, including the production of commercial pharmaceutical products for a sizable market supply.
Global L-Carnitine Market: Segmentation
By Process
- Chemical Synthesis
- Bioprocess
By Products
- Food and Pharma Grade
- Feed Grade
By Applications
- Animal Feed
- Healthcare Products
- Functional Food and Beverages
- Medicines
By Regions
- North America
- Europe
- Asia-Pacific
- Central and South America
- The Middle East and Africa
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