The global L-carnitine market size is expected to reach USD 277.9 million by 2028 according to a new study by Polaris Market Research. The report “L-Carnitine Market Share, Size, Trends, Industry Analysis Report, By Process (Chemical Synthesis, Bioprocess); By Product (Food & Pharmaceutical Grade, Feed Grade); By Application (Animal Feed, Healthcare Products, Functional Drinks, Medicines); By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the global market during the forecast period is mainly driven by the factors such as the growing geriatric population base, along with the rising prevalence of various age-related chronic disorders that include diabetes and other cardiovascular diseases. Moreover, the growing demand for quality animal feed and the increasing awareness for functional foods is expected further to propel the industry growth in the near future.
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There is an increase in the geriatric population across the globe. More than 700 million aged people live worldwide, and the population is expected to double in the next three decades. Aged people are more prone to acquire chronic disorders such as diabetes and CVDs. Diabetes affects more than 100 million people in the U.S. alone, and CVDs are the leading cause of deaths worldwide, affecting more than 400 million people.
Chemical multistep racemization is the preferred chemical synthesis process for manufacturing the product, whereas microorganisms and enzymes are used in the bioprocess of l-carnitine. It is mainly used in pharmaceuticals and animal feed as they are helpful in weight management and maintaining overall health. They also treat obesity, hyper-lipidemia, and diabetic ketoacidosis in pet animals such as dogs and cats.
Many new developments have been taking place in the global industry in recent times. For instance, in February 2021, Yanhee Hospital introduced a new product, “YANHEE ULTIMATE L-CARNITINE,” in the market. In October 2020, REPP launched a brand new carnitine-based product named L-Carnitine Thermo for weight loss.
Major players operating in the market include Ceva, Cayman Chemical, China Qingdao Hongjin Chemical Co., Ltd., ChengDa PharmaCeuticals Co., Ltd., Hua Yang Berhad, Hubei Yuancheng Technology, Huanggang Huayang Pharmaceutical Co., Ltd., Kaiyuan Hengtai Chemical, Koncepnutra, Kaiyuan Hengtai Nutrition Co., Ltd., Northeast Pharmaceutical Group, Lonza, Shanghai Danfan Network Science&Technology Co., Ltd., Tokyo Chemical Industry, Shanghai Kangxin Chemical CO., LTD, and Xinxiang Kangjian Chemical Co., Ltd.
Polaris Market Research has segmented the L-Carnitine market report on the basis of process, product, application, and region:
L-Carnitine, Process Outlook (Revenue - USD Million, 2016 - 2028)
L-Carnitine, Product Outlook (Revenue - USD Million, 2016 - 2028)
L-Carnitine, Application Outlook (Revenue - USD Million, 2016 - 2028)
L-Carnitine, Regional Outlook (Revenue - USD Million, 2016 - 2028)