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Coenzyme Q10 Market Size - By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Global Forecast, 2023-2032

  • Report ID: GMI741
  • Published Date: Nov 2023
  • Report Format: PDF

Coenzyme Q10 Market Size

Coenzyme Q10 Market size is estimated to record a CAGR of over 10.5% between 2023 and 2032. The growth is attributed to the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and lung diseases. As per CDC, around 60% of the American population clasps with at least one chronic disorder.
 

Coenzyme Q10 Market

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The increasing disease burden, in consort with rising healthcare expenditure is encouraging the consumers to look for relevant health supplements. Coenzyme Q10 (CoQ10) is well-known for enriching the heart health, increasing energy levels, and is a potential antioxidant. The inclination of individuals towards consuming supplements and other natural products to improve the quality of life is propelling the coenzyme Q10 market growth.

 

Further, the increasing geriatric population is also considered to be one of the major factors fueling the product demand. With the growing age, ability of body to produce or generate the compound decreases. As CoQ10 is important for producing cellular energy, elderly people are recommended to opt for these supplements to maintain strength and alleviate age-related chronic diseases.
 

The high expenditure related to the product manufacturing is one of the major factors hindering the coenzyme Q10 market expansion, restraining its ease of access to a vast consumer base. Furthermore, the numerous health supplement substitutes available deter the interest and investment away from CoQ10. This factor, along with various regulatory constraints related to dietary supplements in different regions that lead to irregularities are expected to restrain the industry growth.   
 

Covid-19 Impact

During the Covid-19 pandemic, there was a prominent focus on the health and well-being that inclined the consumers towards the usage of dietary supplements including CoQ10 for better immune system. Its affordability impelled the product sales, owing to its compliance and resilience, as it met consumers necessities and requirements. However, the interruptions in supply chain and closure of manufacturing industries led to instability in the production and accessibility of product.
 

Coenzyme Q10 Market Trends

There is collective inclination towards CoQ10 for its potential health benefits. The compound plays a vital role for energy production in cells, and it also acts as an effective antioxidant. As consumers become health-conscious and pursue natural remedies to fight several health issues, this product is conveniently accessible through dietary supplements, pharmaceuticals, and cosmetics. It is mostly infused in cosmetics such as hand creams, sunscreen products, facial masks, and others.
 

Additionally, coenzyme Q10 is vastly used in skincare and beauty products. The ability to combat free radicals and promote healthy, youthful skin makes it an ideal preference for the cosmetic manufacturers. Beauty-conscious consumers are seeking cosmetics with CoQ10 as ingredient for its evident skin benefits. For instance, NIVEA provides a range of skincare products enhanced with CoQ10, consisting of Q10 and Anti-Wrinkle Night Cream, Q10 and Anti-Wrinkle Serum Pearls.
 

Moreover, constant R&D efforts in the pharma sector are focused on using the coenzyme as a therapeutic agent for several cardiovascular and neurodegenerative ailments. The constant developments in the production technologies, such as fermentation method, enhance the purity and effectiveness of CoQ10.
 

Coenzyme Q10 Market Analysis

The cosmetic application segment will witness a strong growth rate through 2032, owing to several skincare and anti-aging properties of the product.
 

  • The antioxidative properties and visible anti-aging benefits provided by CoQ10 based products has gained significant traction. It aids combat free radicals accountable for skin aging, as consumers prefer natural and effective methods to decrease wrinkles, lines, and skin sagging. It provides a non-invasive method to attain youthful and radiant skin tone.
     
  • The rising awareness of consumers towards complete skincare and the necessity for comprehensive beauty regimens will favor product demand. Consumers are contemplating for the products that improve appearance and upgrade skin health. CoQ10 has the capability to nourish, protect, and hydrate the skin, encouraging its usage in cosmetics.
     

North America coenzyme Q10 market is poised to witness over 9.8% CAGR till 2032, due to the inclination toward the use of skincare products as well as for maintaining the overall health. CoQ10 is known for managing the heart health and cellular energy production. Moreover, the increasing geriatric population in the region who realize the importance of anti-aging formulation is favoring the compound usage. The flourishing cosmetic and pharmaceutical industries in North America, along with their emphasis on meeting consumer needs for natural remedies will augment the regional market growth in the near future.
 

Coenzyme Q10 Market Share

Leading companies in the coenzyme Q10 industry, including Now Foods, are using innovative methods to expand their regional footprint such as strategic partnerships, mergers, and product launches. For instance, the company introduced a CoQ10 Antioxidant Cream made to support skin health and reduce oxidative stress. Similarly, Kaneka Corporation being a global leader in the production of CoQ10, offers high quality and purity, while also being at the front of R&D propelling innovation in the application. Similar steps are being undertaking by other major companies, namely:

  • DSM
  • Vitamin Shoppe
  • SourceOne Global Partners
     

Coenzyme Q10 industry News

  • In January 2021, Kaneka Corporation introduced Watashi no Chikara - Q10 Yogurt, providing consumers a suitable way to incorporate the active coenzyme form Q10 into their daily diet.
     
  • NIn April 2023, Beiersdorf marked 25 years of Q10 innovation excellence. In 1998, Beiersdorf pioneered anti-aging products with Q10. It remains a vital anti-aging ingredient, continually improved through ongoing research.
     

The coenzyme Q10 market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in US$ Thousand from 2023 to 2032 for the following segments.

Market, By Application

  • Pharmaceuticals
  • Dietary Supplements
  • Cosmetics
  • Others

The above information has been provided for the following regions and countries:

North America 

  • U.S
  • Canada

Europe 

  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Poland

Asia Pacific 

  • China
  • India
  • Japan

Latin America 

  • Brazil
  • Mexico

Middle East and Africa

 

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of coenzyme Q10 is set to grow at 10.5% CAGR during 2023 to 2032, attributed to the increasing prevalence of chronic diseases.
The cosmetic application segment will gain remarkable momentum during the forecast timeline, owing to several skincare and anti-aging properties of coenzyme Q10.
North America market is projected to expand at 9.8% CAGR through 2032, due to the inclination toward the use of skincare products as well as for maintaining the overall health.
Now Foods, DSM, Vitamin Shoppe, SourceOne Global Partners, among others are some key industry players.

Coenzyme Q10 Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 110
  • Countries covered: 13
  • Pages: 160
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