Global Market for Coenzyme Q10 to Double, with Future Possibilities in Preventing Parkinson’s Disease Progression: Fact.MR
Published : 12 Oct 2021 Industry: Food & Beverage
Fact.MR predicts the sales of coenzyme Q10 market to exceed US$ 1.3 Bn by registering a CAGR of 8% in the forecast period 2021-2031. Increase in awareness regarding health and nutrition is playing a key role in the consumption of coenzyme Q10. By 2021, the market is expected to reach US$ 600 Mn.
Historically, between 2016 and 2020, the sales of coenzyme experienced a growth rate of 6%. Growth prospects received credible stimulus during COVID-19. A series of published studies hypothesizing the need to administer coenzyme Q10 in case of deficiencies experienced by patients during an infection kept prospects largely elevated.
Prominent manufacturers are capitalizing on the ever-broadening scope of coenzyme Q10 in numerous pharmaceutical and nutraceutical applications. Also, prospects are likely to appear promising with regard to inhibiting progression of Parkinson’s disease. While there is dearth of existing prevention therapies, key stage II clinical trials have demonstrated success rates in patients who consumed coenzyme Q10 in dosages of 300, 600 or 1200 mg/day.
Key Takeaways from the Market Study
- Pharmaceutical coenzyme Q10 applications stay dominant, surging at 7% CAGR
- Ubiquinone and ubiquinol coenzyme Q10 types to jointly contribute US$ 665 Mn in revenue
- North America is likely to be the most opportunistic market, capturing 45% revenue by 2031
- Over 1/4th of the global revenue in the coenzyme industry to be contributed by Asia
“As the growth of supplements and skin care nutrition is likely to be robust, coenzyme Q10 will be prominent with producers having an extensive product portfolio and the marketing prowess of products with nutritional and health benefits,” says the Fact.MR analyst.
Prominent players operating in the global coenzyme Q10 market include Kaneka Corporation, Xiamen Kingdomway Group, Nisshin Seifun Group, Zhejiang Medicine Co. Ltd, and Kyowa Hakko U.S.A. Inc., among others.
- Skin care companies, such as Beiersdorf, have recognized the potential of coenzyme Q10 in preventing premature ageing and energizing the skin, and is offering new skin care products with CoQ10 content that claims to protect the skin from UV/UVB rays.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global coenzyme Q10 market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of product type (ubiquinone and ubiquinol), production method (microbial fermentation and chemical synthesis) and end use industry (pharmaceuticals, nutraceuticals, cosmetics and others) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – Food and Beverages