L-carnitine Market is expected to grow with a CAGR of 5.0% from 2023 to 2030.
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This report describes the global market size of L-carnitine market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and it is expected to grow with a CAGR of 5.0% from 2023 to 2030.
The human brain, liver, and kidneys produce the molecule L-carnitine. It improves the body's conversion of fat into energy. A rising population of health-conscious consumers, an increase in the number of L-carnitine-containing product launches, and rising demand from the animal feed industry are all contributing to the market's rapid expansion.
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Due to the COVID-19 pandemic and Russia-Ukraine war influence, the global market for L-carnitine market estimated at US $ million in the year 2022, is projected to reach a revised size of US$ million by 2030, growing at a CAGR of 5.0% during the forecast period 2023-2030. North American market for L-carnitine market is estimated to increase from $million in 2022 to reach $ million by 2030, at a CAGR of XX% during the forecast period of 2023 through 2030.
For geography segment, regional supply, demand, major players, price is presented from 2018 to 2030. This report covers following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
The key countries for each region are also included such as United States, China, Japan, India, Korea, Germany, France, UK, Italy, Spain, and Brazil etc.
For competitor segment, the report includes global key players of L-carnitine market as well as some small players. The information for each competitor includes:
Company Profile
Main Business Information
SWOT Analysis
Sales Volume, Revenue, Price and Gross Margin
Market Share
By Process
With a 72.0% revenue share in 2022, the bioprocess segment held the majority of the market share. This can be attributed to the manufacturers improving their procedures to increase manufacturing yield in response to the increased commercial demand for L-carnitine. The majority of biological processes involving microbes and enzymes are asymmetrical processes that have historically provided high output yields.
By Product
Food & Pharma Grade
With a sales share of 79.5% in 2022, the grade for food and pharmaceuticals dominated the market. This is due to its widespread ingestion by humans for a variety of purposes, such as post-exercise recovery, healthy ageing, male fertility, baby nourishment, and weight management.
By Application
Healthcare accounted for 35.0% of market revenue in 2022. Its widespread use in weight loss and stamina supplements explains this. Due to obesity, rising consumer awareness of personal health and wellness, changing lifestyles, and expanding spending capacity, the dietary supplement industry is predicted to reach USD 105.1 million by 2030. Manufacturers will benefit from the dietary supplement industry's rapid growth.
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By Region
North America
APAC
Europe
South America
Middle East & Africa
North America accounted for 37.9% of L-carnitine sales in 2022. Due of the region's growing health-conscious population. L-carnitine is a useful food and beverage ingredient since it treats and prevents several diseases.
Consumers prefer functional food and beverages with L-carnitine due to their increased energy and stamina and other health benefits. The market is predicted to develop due to North American consumers' growing preference for L-carnitine supplements.
By Company
Northeast Medicines Group Co., Ltd. (NEPG)
Kaiyuan Hengtai Nutrition Co., Ltd.
Huanggang Huayang Medicines Co. Ltd.
Other Key Players
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