According to a new research report by Global Market Insights Inc., the Alpha Lipoic Acid Market size is forecast to exceed USD 1.22 billion by 2027. Rising health consciousness among consumers along with increasing dietary supplement intake to maintain a healthy life balance is likely to make a prominent contribution to the global market during the forecast period.
The alpha lipoic product finds widespread applications as a medical drug to treat several fatal diseases including diabetes, skin disorder, cancer treatment, reducing wrinkles, physique improvement, liver ailment, HIV, eye treatment, neuro health, migraine treatment, etc. In addition, increasing product usage as weight loss supplement, which is attributed to rising obesity among middle-aged men and women will drive the alpha lipoic acid market share over the coming years.
Moreover, alpha lipoic acid plays an important role as slimming products and medical drugs. The compound is a water & fat soluble antioxidant and is present in almost every cell in the body to convert glucose to energy. It is a vital nutrient for numerous body functions including immunity, detoxification, nervous system, and cardiovascular. When sufficient amount of the compound is not present in the body, external dietary supplements are used to compensate its deficiency.
Browse key industry insights spread across 172 pages with 151 market data tables & 32 figures & charts from the report, “Alpha Lipoic Acid Market Size By Product (R-Lipoic Acid, S- Lipoic Acid), By Application (Dietary Supplements, Medical Drugs, Slimming Products), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
S-lipoic acids are projected to gain a considerable market share by 2027
S-lipoic acid is a synthetic form of lipoic acid, which is attained as a byproduct from the chemical synthesis of racemic mixture and possesses the properties of the R-form along with its interaction with proteins, enzymes, and genes. In addition, the racemic mixture of lipoic acid is highly unstable without the S-form as the R-form deteriorates at slightly above room temperature into a sticky insoluble polymer. This product segment also finds similar applications in medical drugs, slimming products, and dietary supplements, which will help attain a share around 15% in the overall alpha lipoic acid market by 2027.
Dietary supplements is estimated to become the fastest growing application by 2027
Dietary supplements application is projected to grow with a CAGR around 6.5% by 2027 owing to the rising product demand due to the changing consumer lifestyle. It is suggested that a dose of 50 - 600 mg per day is sufficient to meet dietary needs. Its potential and therapeutic action for dietary intake is attributed to the bioavailability, tissue accumulation, and metabolic rate. The product provides additional benefits in the form of supplements and offers many benefits for weight loss and bodybuilding besides its ability to fight free radicals and regenerate other antioxidants.
Europe to display robust development throughout the forecast timeframe
Europe was valued over USD 140 million in 2020. The pace of population aging around the world is growing intensely. The percentage of Europeans aged over 65 is projected to rise from 16% in 2010 to 29.3% in 2060. The average life expectation for men in the European Union is estimated to reach 84.6 years, by 2060, and 89.1 for women. The significant presence of European alpha lipoic acid manufacturers, such as Infa Group and Alzchem AG, will also contribute to the regional alpha lipoic acid market growth by 2027.
The major participants in the alpha lipoic acid industry are Infa Group (Olon S.p.A.), Qufu Maidesen Fine Chemical Co., Suzhou Fushilai Pharmaceutical Co., MTC Industries, Shandong Qidu Pharmaceutical Co., Jiangsu Tohope Pharmaceutical Co., Shanghai Shyndec (Modern) Pharmaceutical Co., Source Naturals, GeroNova Research, and HiMedia Laboratories among many others.