Coenzyme Q10 Market size to exceed $1.15bn by 2027
Published Date: July 14, 2021 Authors: Kunal Ahuja, Kritika Mamtani
Coenzyme Q10 Market size is set to surpass USD 1.15 Billion by 2027, according to a new research report by Global Market Insights, Inc.
Global coenzyme Q10 industry is poised to grow rapidly in the forecast period owing to steady development of various industries including dietary supplements, pharmaceuticals, and cosmetics in Canada, the United States, Germany, India, and China.
Increasing preference for health promoting dietary supplements and increasing focus towards healthy lifestyle among health-conscious consumers is predicted to propel the market statistics. Growing preference for natural ingredients in cosmetic products and surging demand for natural cosmetic products should further boost the requirement for ingredients such as coenzyme Q10 as it helps maintain younger-looking skin for longer by reducing the emergence of wrinkles and fine lines.
Coenzyme Q10 industry demand from dietary supplements application is projected to register over 10.5% CAGR between 2021 and 2027 pertaining to growing interest in preventive healthcare.
Coenzyme Q10 market from dietary supplements application is set to surpass USD 700 Million by 2027. CoQ10 is a type of healthy ingredient used in dietary supplements as it offers various health benefits including preventing cancer & Huntington’s disease, improving heart health, and used in the treatment of cognitive illnesses & cardiovascular ailments. Increasing spending on health promoting products and growing interest in preventive healthcare are among the primary factors leading to high demand for dietary supplements, further fueling the market expansion.
Growing geriatric population, rising health awareness and adoption of a healthy diet are among the primary factors leading to surging demand for dietary supplements, thus, driving the coenzyme Q10 market demand. Growing positive outlook towards sports nutrition and changing lifestyles & dietary habits further provides a growth opportunity for the product manufacturers operating worldwide.
Growing spending on health promoting products and increasing interest in preventive healthcare is predicted to boost product demand in the dietary supplement’s application
Browse key industry insights spread across 160 pages, 76 market data tables and 34 figures & charts from the report “Coenzyme Q10 Market Statistics By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing prevalence of cardiovascular diseases and diabetes in Europe should propel product demand
Europe Coenzyme Q10 Market is predicted to show significant CAGR over the predicted period and anticipated to reach consumption over 225 tons by 2027. Clinical trials and research have found that coenzyme Q10 is beneficial in various medical conditions such as diabetes, high blood pressure, insulin resistance, endothelial dysfunction, and congestive heart failure. Coenzyme Q10 play an important role in energy production in the human body and is proven to offer benefits to cardiovascular function and health, including improving exercise tolerance in patients with heart failure, lowering blood pressure, improving blood sugar level in diabetes patients, and reducing hospitalization in case of heart failure. Thus, rising incidences of health disorders such as cardiovascular diseases and diabetes primary due to sedentary and hectic lifestyle and growing consumption of unhealthy food products have increased the need for healthy food and supplements. This has further led to drive European Coenzyme Q10 market statistics.
Growing awareness about weight management, healthy lifestyle, healthy eating, sports nutrition, and wellbeing have led to boost the production and sales of dietary supplements in UK, Germany, Italy, and France. Also, increasing number of health-conscious consumers and rising willingness of consumers on spending on nutrition and dietary supplements are projected to augment the need for dietary supplements, further leading to a rise in product demand.
Players in coenzyme Q10 market are implementing multiple strategies such as launching new products, partnerships, mergers & acquisitions and collaborations to sustain their position in the global market. The major players include Vitamin Shoppe, DSM, NOW foods, Kaneka Corporation, and SourceOne Global Partners which play a significant role in coenzyme Q10 industry.