Alpha Lipoic Acid Market Size & Share 2021 to 2027
Market Size by Product (R-Lipoic Acid, S- Lipoic Acid), by Application (Dietary Supplements, Medical Drugs, Slimming Products) & Forecast.
Report ID: GMI1605
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Published Date: June 2021
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Alpha Lipoic Acid Market Size
Alpha Lipoic Acid market size was USD 805.7 million in 2020 and will grow at 6.3% CAGR from 2021 to 2027. Increasing penetration of alpha lipoic acid in the healthcare sector will augment the product demand.
Alpha Lipoic also known as thioctic acid is an organosulfur compound derived from caprylic acid. This acid is widely used for breaking down carbohydrates for efficient functioning of various organs.
The robust dietary supplement demand, particularly in Asia Pacific, on account of improving consumer socio-economic factors along with consumer awareness toward maintaining a healthy & fit lifestyle, has been propelling the overall alpha lipoic acid market share in recent years. For instance, the product is used by youth and fitness enthusiasts in gyms and other sports centers. Furthermore, the product is also preferred as a dietary supplement owing to its biological characteristics (non-toxic).
The increasing consumer spending toward personal care products will subsequently complement the global alpha lipoic acid market by 2027. The product is widely used across cosmetic products such as anti-aging creams. Additionally, the consumption of prescribed & regular alpha lipoic acid helps in reducing body weight and is thus preferred as a slimming agent in the market.
Alpha Lipoic acid is a biologically active antioxidant, which is water & fat-soluble, making it suitable for wind applications as a medical drug and dietary supplement. However, 100% pure R-lipoic acid is not commercially available and is therefore available as a racemic mixture of R-(natural) and S-(unnatural). The increasing government initiatives coupled with government campaigns are likely to stimulate the product demand in the coming years. However, the presence of substitutes, such as B-alanine, chromium, Coenzyme Q10, creatine, energy drinks, glutamine, etc., is anticipated to be a major factor restraining the overall alpha lipoic acid market revenue during the assessment period.
Alpha Lipoic Acid Market Analysis
The R-lipoic acid segment is projected reach a market share of over 87% by the end of 2027. R-lipoic acid has a wide range of applications in preventing diabetes, influencing glucose control & neuro disorders, reducing weight, protecting against cataract formation, reducing brain damage after a stroke, reducing toxic metals from the body, improving skin texture, and reducing migraine intensity, which must be treated effectively to improve the health standards across the globe.
For instance, as per the WHO, the global diabetes prevalence among adults over 18 years of age was 4.7% in 1980 and reached over 9% in 2016. Henceforth, the prevailing product demand in the medical industry and food & nutrition sector will make a significant contribution to the R-lipoic acid market size in the coming years.
The medical drugs segment dominated the global market and accounted for 44.6% industry share in 2020. Additionally, it is forecast to attain a market share of 50% by 2027. The increasing product applications in manufacturing several drugs that can treat numerous fatal disease including diabetes, nerve pains, cataract formation, cancer treatment, blood sugar levels, skin discoloration, HIV, healing wounds, decreasing complications in Coronary Artery Bypass Graft (CABG) surgeries, and various other medical conditions will help the medical drugs application segment attain a significant alpha lipoic acid market value during the forecast period.
The other segment is projected to grow at 5.2% CAGR throughout the assessment period. The other segment includes personal care, pet care, and metal chelation. The product protects the body against toxic metal contaminants found in the environment and food supply.
Asia Pacific, chiefly led by China and India, accounted for 36.2% of the overall alpha lipoic acid market share in 2020. In addition, the region will experience the highest growth rate of 6.8% from 2020 to 2027. The escalating medical industry, massive population with diabetes, and improved consumer spending toward personal well-being (dietary supplements and personal care products) are some of the chief regional growth prospects. The prevalence of a large number of small, large, and medium scale product manufacturers in the region to meet high product demand is another factor for this massive industry share in Asia Pacific.
Alpha Lipoic Acid Market Share
Key players operating in the alpha lipoic acid industry are focusing on production capacity expansion. Some of the major players operating in the market include
The alpha lipoic acid market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2027 for the following segments:
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By Product
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The above information is provided on a regional and country basis for the following:
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