Coenzyme Q10 Market size to exceed $ 1bn by 2026
Published Date: November 15, 2019 Authors: Kunal Ahuja, Kritika Mamtani
Coenzyme Q10 Market size is set to surpass USD 1 billion by 2026; according to a new research report by Global Market Insights, Inc.
The coenzyme Q10 industry demand shall witness substantial growth from 2019 to 2026 on account of growing consumer preference towards the use of natural antioxidants in diet and medical formulations. Lack of coenzyme Q10 in diet can lead to various health disorders among consumers such as cancer, gum disease and cardiovascular disease which are the key factors driving market growth.
The antioxidant owing to its high medicinal value is integrated into various therapeutic drugs and dietary supplements which are prominent market factors for product demand. It helps to treat heart failure, enhances muscle activity and promotes healthy growth of cells which is expected to escalate the market growth.
Dietary supplements application segment is expected to propel coenzyme Q10 market demand
Increasing consumer inclination towards health & fitness owing to growing lifestyle diseases such as obesity, diabetes and blood pressure is expected to drive coenzyme Q10 market growth. Coenzyme Q10, when consumed in the form of supplements drastically, improves the fat breakdown in the body and enhances the body’s resting metabolism. Rising health problems due to a sedentary lifestyle and lack of balanced diet intake are further expected to accelerate market demand.
Consumption of coenzyme Q10 supplements increases the amount of antioxidants in the body, reduces chances of heart failure and helps improving exercise performance by preventing oxidative stress. The antioxidant is also involved in energy production and thereby helps in the improvement of physical performance, thereby improving market expansion.
Browse key industry insights spread across 168 pages with 75 market data tables and 34 figures & charts from the report, “Coenzyme Q10 Market Share By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Adoption of natural cosmetic products to strengthen coenzyme Q10 market outlook in North America
Rising awareness towards the adverse effects of chemicals in cosmetics has shifted consumer preference towards the use of green label products in the region. Awareness among consumers towards the types of products purchased is some of the key market factors which shall help improve the demand for environment-friendly and skin-friendly products.
Coenzyme Q10 is largely served in the cosmetics industry owing to its anti-aging and anti-inflammatory properties. The product acts as a suitable alternative to several synthetic chemicals in cosmetics as its supplementation significantly reduces collagen breakdown which is responsible for skin strength and elasticity.
The antioxidant effects of the compound protect skin from extrinsic aging and help in skin rejuvenation. This has urged manufacturers to incorporate natural ingredients in beauty & personal care products which are expected to have a positive impact on market growth.
Pharmaceutical market expansion to enhance coenzyme Q10 industry growth in Europe
Increasing government initiatives to enhance healthcare amenities owing to the rising prevalence of various chronic diseases is likely to have a positive impact on the market growth. Coenzyme Q10 plays a critical role in producing chemical energy for various mitochondrial functions and helps improving organ function.
Diseases such as diabetes and obesity are on rise among all ages in the European region owing to a sedentary lifestyle and unhealthy diet pattern which is expected to have a positive impact on the regional market expansion. Consumption of coenzyme Q10 in diabetes helps avert the risk of vascular injury and nerve damage.
The use of coenzyme Q10 as an antioxidant is widely promoted for use in various medicinal formulations since it reduces the risk of heart diseases by boosting energy production within the heart muscle. Hence, it prevents blood clot formation which is further expected to stimulate market growth.
Several market participants are concentrating on new product development. Market leaders are also engaged in various strategic collaborations and partnerships to deliver innovations in product manufacturing. Some key players include Kaneka Corporation, Nature’s Bounty, DSM and GNC Holdings.