Home > Food, Nutrition & Animal Feed > Coenzyme Q10 Market
Coenzyme Q10 Market size surpassed USD 575 million in 2020 and is expected to register over 10.5% CAGR between 2021 and 2027. Rising prevalence of heart diseases, diabetes, cancer, and lung diseases in developed and developing countries such as the U.S., Canada, Germany, France, the UK, India, and Australia due to unhealthy lifestyle choices and food habits has increased the demand for healthy food and ingredients across the globe, thereby promoting the demand for coenzyme Q10.
Growing awareness among the health-conscious consumers about the health benefits offers by coenzyme Q10 such as its use in treating heart failure, keeping the skin younger, reduce headaches, enhance exercise performance, and curing diabetes will boost coenzyme Q10 industry demand.
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Factors such as rising health awareness, growing geriatric population, and increasing adoption of a healthy food supplements has increased demand for coenzyme Q10. The elderly population in the developed countries such as the U.S., Canada, and Australia are focusing on adapting to nutritional supplements specially tailored to their needs to maintain good health and quality of life. Thus, the consumers are willing to pay higher prices for premium supplement products, thereby driving the coenzyme Q10 market statistics.
The working population is struggling to fulfil the daily nutrient requirements owing to factors such as busy lifestyles, hectic work schedules, and less time availability for cooking food. This has further shifted the focus of the consumers towards dietary supplements to fulfil the daily requirement of nutrient owing to their high convenience. This trend is expected to trigger the coenzyme Q10 market forecasts over the forecast period as it is extensively used in dietary supplement products to enhance its nutritional value.
|Market Size in 2020:||579.70 Million (USD)|
|Forecast Period:||2021 to 2030|
|Forecast Period 2021 to 2030 CAGR:||10.5%|
|2030 Value Projection:||1,156.48 Million (USD)|
|Historical Data for:||2016 to 2020|
|No. of Pages:||160|
|Tables, Charts & Figures:||110|
|Pitfalls & Challenges:|
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The coenzyme Q10 market size from cosmetic application surpassed USD 90 million in 2020. The cosmetic segment is expected to show significant growth owing to several benefits such as energizes cell activity, reduce sun damage, even out skin tone, and stimulate elastin and collagen production. The ingredient prevents adverse effects associated with UV exposure and sunburn. Coenzyme Q10 when used as a cosmetic ingredient helps the human body produce more elastin and collagen which helps in reducing the appearance of fine lines. Therefore, the use of coenzyme Q10 has increased in anti-aging cosmetic products.
Coenzyme Q10 is extensively used in wide range of cosmetic products including lotions, moisturizers and in creams as it is effective in keeping the skin smooth, soft, and young. Thus, rising awareness about the advantages offered by coenzyme Q10 among cosmetic manufacturers along with growing preference for natural ingredients to produce cosmetic products is projected to propel the coenzyme Q10 market share.
Factors such as rising focus of consumers towards grooming and personal appearance coupled with increasing expenditure of consumers on cosmetic products in developing economies such as India, Brazil and Argentina have boosted the production of cosmetic products, thereby propelling the industry landscape.
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Coenzyme Q10 market from pharmaceutical application is likely to exceed USD 170 million by 2027. Coenzyme Q10 in pharmaceutical application is used for minimizing the symptoms of mitochondrial disorders and treating coenzyme Q-10 deficiency. It is highly effective in reducing the blood pressure, preventing migraine headaches, reducing the progression of early Parkinson's disease, and preventing a second heart attack. Growing focus towards research and development in the pharmaceutical sector for exploring new applications for coenzyme Q10 primarily for treating and preventing cardiovascular diseases, cancer, heart, and other diseases is projected to escalate the market demand.
North America coenzyme Q10 market is projected to register over 9.8% CAGR from 2021 to 2027. Cosmetic products enhanced with coenzyme Q10 offer several benefits to the skin including it provides energy to the skin cells which is required to repair and regenerate the skin cells, helps in sun damage, and supports the production of elastin & collagen. Thus, rising awareness about the benefits of coenzyme Q10 among the cosmetic manufacturers operating in the U.S. and Canada have propelled the product demand over the past few years.
Global coenzyme Q10 market is highly fragmented and is characterized by to the presence of several medium & large industry players operating worldwide. The key player in the market includes DSM, Kaneka Corporation, Vitamin Shoppe, SourceOne Global Partners, and NOW foods. These major market participants are implementing various strategies includes partnerships, collaborations, and mergers & acquisition in order to increase industry share and to tap the growth opportunities in the market.
For instance, in January 2021, Kaneka Corporation launched “Watashi no Chikara (My Energy) - Q10 Yogurt. The product offers consumers with a convenient option to fulfill the dietary intake of the active form of CoQ10. Kaneka Corporation will sell the product through its affiliate, Kaneka Shokuhin Co., Ltd. headquartered in Japan at supermarkets, bakeries, general retailers, convenience stores, and Kaneka’s online shop.
Global Coenzyme Q10 market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons, and revenue in USD Million from 2016 to 2027 for the following segments:
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