New Jersey, NJ, Jan. 20, 2020 (GLOBE NEWSWIRE) -- The global Ketones market is expected to grow from USD 415.18 Million in 2017 to USD 697.52 Million by 2026 at a CAGR of 6.7% during the forecast period 2019-2026, according to the new report published by Fior Markets. The increase in consumption of convenience food, rise in health consciousness, and multifunctionality of ketones are projected to boost the growth of the global ketone industry. Moreover, factors such as increasing demand in end-use industries such as automotive and medical will drive the ketones market growth over the forecast period.
In chemistry, a ketone is a functional group with a RC(=O)R ' structure where R and R ' can be a variety of carbon-containing substitutes. Ketones and aldehydes are simple compounds containing a carbonyl group. Ketones are usually simple compounds containing a carbonyl group, and ketones are known to be simple in nature due to the exclusion of reactive groups such as –Cl or –OH. Some of the widely used ketones are chemical solvent acetone and sugar (ketoses). Different methods for the processing of ketones are introduced in industrial-scale educational laboratories and are also produced in certain ways by organisms.
Due to environment friendly nature of ketones, it is capable of meeting stringent regulations and emission standards in developed regions. This trend is anticipated to highly augment market growth over the forecast period. However, high price along with multiple substitutes with similar properties may hamper the market growth over the forecast period.
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Key players operating in the global Ketones market include Boli Naturals, BPI Sports, Compound Solution Inc., Finaflex, HVMN Inc., Ion Labs, Keto & Company, Ketologic, Ketond Nutrition LLC, Ketone Aid Inc, Nutrex Research, Perfect Keto, Pruvit, Sapien Body, Union Pharmpro Company Ltd., Zhou Nutrition among others. To enhance their market position in the global bakery premixes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2017, the company HVMN teamed up with Oxford University to create a ketone drink used by elite cyclist Vittoria Bussi to break a global cycling record.
The supplement segment had a market value of around USD 176.45 million in 2018
The application segment is divided into supplements, food & beverages and cosmetics & personal care products. The supplement segment emerged as the leader in the global ketones market with a revenue of USD 176.45 million in 2018. Ketone supplement is the most prevalent ketone form. The increased use of ketone supplements among sportsmen and athletes is one of the major factors expected to drive the supplement segment growth. Moreover, the rise in per capita income and the growth in the geriatric population has led people to invest in the healthcare sector. Consumers are becoming more health-conscious and increasingly aware of the healthcare sector. These factors are projected to drive the growth of the ketones market during the forecast period.
The ketone salts segment is anticipated to grow at a CAGR of around 7.1% in 2019-2026
The application segment includes ketone salts, ketone esters, ketone oils, and raspberry ketones. The ketone salts segment is anticipated to grow at the highest CAGR of around 7.1% over the forecast period because ketone salts are widely used in dietary supplements.
The solid form segment is anticipated to grow at a CAGR of around 6.9% in 2019-2026
The application segment includes solid and liquid. The solid form segment is anticipated to grow at the highest CAGR of around 6.9% over the forecast period because when compared to the liquid or semi-liquid form, the solid form of ketones is readily available for use and is convenient to carry. Moreover, relative to liquid and semi-liquid types, it has improved shelf life. A blender is often needed to mix liquid ketone supplements. In the case of solid ketones, however, these blenders are not needed, which makes it easy to use. There are some cases of gastrointestinal disorders while using the liquid ketones for the initial days but there is no such complication with solid form. These factors make the solid form more preferred alternative among consumers.
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Regional Segment Analysis of the Ketones Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region led the global Ketones market with a revenue of USD 129.29 million in 2018. China held the maximum methyl ethyl ketone (MEK) market share in 2018. Asia Pacific is expected to continue to experience high growth over the forecast period due to favorable economic factors such as industrialization in emerging economies, including India and China, coupled with developments in chemical industry infrastructure. Due to the natural disaster in Japan, the ketone market in Asia Pacific was strongly disturbed in the past few years. A healthy growth is expected in the country on account of ongoing developments in end-use industries including chemical, medical and automobile over the forecast period. Significant ketone market growth is expected in the North America due to increase in end-use industries demand mainly in automotive industry over the forecast period. In terms of ketones market growth, North America is expected to be followed by Europe on account of stringent regulatory framework over the forecast period.
About the report:
The global ketones market is analysed on the basis of value (USD Million), volume (Tons), consumption (Tons), imports (Tons) and exports (Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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