Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Alpha Lipoic Acid Market
Alpha Lipoic Acid Market Size
- Report ID: GMI1605
- Published Date: Jun 2021
- Report Format: PDF
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2020 |
| Alpha Lipoic Acid Market Size in 2020: | USD 805.7 Million |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 6.3% |
| 2027 Value Projection: | USD 1,227.0 Million |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 172 |
| Tables, Charts & Figures: | 183 |
| Segments covered: | Product, Application, Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
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.
Frequently Asked Questions (FAQ) :
Alpha Lipoic Acid Market Scope
