Coenzyme Q10 Market
Coenzyme Q10 Market Size By Product Type (Ubiquinone Coenzyme Q10, Ubiquinol Coenzyme Q10), By Production Method (Coenzyme Q10 Production via Microbial Fermentation, Coenzyme Q10 Production via Chemical Synthesis), By End-Use Industry & By Region - Global Market Insights 2023-2033
Analysis of Coenzyme Q10 Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Coenzyme Q10 Market Outlook (2023-2033)
The global coenzyme market is estimated to be valued at US$ 689.5 million in 2023 and it is expected to grow at a CAGR of 7.2% to reach US$ 1,381.9 million by the end of 2033.
Coenzyme Q10 is a 1,4-benzoquinone, where Q refers to the Quinone chemical group and 10 refers to the number of isoprenyl chemical subunits in its tail. Coenzyme Q10 (CoQ10) is a nutrient that occurs naturally in the body.
Estimated Market Value (2023E)
US$ 689.5 Million
Forecasted Market Value (2033F)
US$ 1,381.9 Million
Global Market Growth Rate (2023–2033)
North America Market Share (2023)
East Asia Market Growth Rate (2023–2033)
Europe Market Growth Rate (2023–2033)
Key Companies Profiled
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Historic and Future Path for Coenzyme Q10 Market
Coenzyme Q10 apart from its use as an energy enhancer in the human body is largely used in cosmetic creams to tackle anti-aging, which is expected to drive the adoption of coenzyme Q10, consequently pushing the growth of its market across the globe.
Its use as a superior antioxidant has fueled its adoption in various therapeutic applications focused on minimizing occurrences of several metabolic disorders including but not limited to diabetes, cancer, and cardiovascular disorders. In addition, the consumption of coenzyme Q10 supplements has facilitated positive outcomes, particularly in patients on statin medications.
- Short Term (2023–2026): Growing awareness among consumers about the health benefits offered by coenzyme Q10 as it is widely used in treating heart failure, keeping skin younger, and diabetes which is likely to boost the demand for coenzyme Q10 in short term.
- Medium Term (2026–2029): Increasing adoption of food supplements with rising awareness regarding health and well-being is likely to create high demand for the coenzyme Q10 in the medium term.
- Long Term (2029–2033): Increasing government investment in the pharmaceutical industry in developing countries such as China and India is likely to create significant growth opportunities for the coenzyme Q10 manufacturers.
Market Dynamics Overview
“High Demand for Coenzyme Q10 Among the Statin Users”
Statins are drugs that can be used to lower cholesterol levels, and prevent blockage in blood vessels and thus, in turn, prevent heart attack instances. However, statin consumption results in the depletion of the body’s CoQ10 levels. High-quality CoQ10 supplementation has allowed patients to consume statins without any risk of side effects, such as muscle pain.
Coenzyme Q10 is the fourth-most consumed supplement in North America, according to the CoQ10 Association, and its significance as a health supplement is growing worldwide as well. This antioxidant nutrient has been deemed a health-changing supplement for cardiovascular patients.
Additionally, high-potency statin drugs entail the risk of type II diabetes development and research shows CoQ10 supplementation helps diabetic patients in managing their blood sugar levels. With statin utilization on the rise, demand for coenzyme Q10 has surged tremendously over the recent past.
“Growing Demand for Non-Caffeinated Energy Supplements Favors Coenzyme Q10 Consumption”
Energy drinks are deemed as beverages that contain huge amounts of caffeine. Large amounts of caffeine consumption have been associated with serious ailments, such as heart rhythm disturbances and a rise in blood pressure and heart rate. Additionally, prolonged consumption of energy drinks results in high levels of palpitations, anxiety, digestive & sleep disorders, and dehydration.
The FDA has recently declared bulk sales of energy supplements as unlawful, which in turn, is likely to rub off on sales of energy drinks and as a consequence. increasing awareness about these concerns, among consumers, has resulted in the growing demand for non-caffeinated energy drinks.
Coenzyme Q10 is deemed the most abundant source of energy created inside the body as well as is consumed as a supplement. This will further pave new growth avenues for CoQ10 manufacturers in the field of energy drinks, which in turn, will impact the growth of the coenzyme Q10 market in the foreseeable future.
“Strict Government Regulation on the Use of Coenzymes Q10 to Hamper Market”
Strict government regulation on the use of coenzyme Q10 is likely to have a negative impact on the growth of the coenzyme Q10 market during the forecast period.
Also, the high cost of the manufacturing process is likely to have an adverse impact on the growth of the coenzyme Q10 market. Fluctuating raw material prices, minimal dosage requirements, and less awareness regarding the benefits of the coenzyme in under-developing countries are to restrict market growth.
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Why the US Projects High Demand for Coenzyme Q10?
The coenzyme Q10 sales in the US is expected to grow at a CAGR of 7.1% between 2023–2033.
Coenzymes Q10 are widely used in the cosmetics applications such as creams, moisturizers, lotions, and many more. It is helpful in keeping the skin smooth, young, and moisturized. Thus, rising awareness about the advantages of coenzyme Q10 among cosmetics manufacturers and consumers’ preference for the natural ingredient in cosmetics products is likely to boost the consumption of coenzyme Q10 in the coming years.
The US cosmetics industry is valued at over US$ 100 billion in 2022 and is anticipated to grow at a rapid pace, owing to the growing consumer spending on cosmetics products is likely to create high demand for coenzyme Q10 across the country during the forecast period.
What Role does China Play in the Expansion of the Coenzyme Q10 Market?
Over the period, China has invested a heavy amount in the pharmaceutical industry. China’s pharmaceutical industry is valued at over US$ 250 billion in 2022. China holds the 2nd position in the world and has the largest pharmaceutical market. The growing pharmaceutical industry in China is likely to create a significant opportunity for coenzyme Q10 manufacturers.
Also, most cases of Parkinson’s disease in China and is expected to rise in the future. This disease is likely to hit around 4 million by 2030 in China. This is anticipated to increase the demand for coenzyme Q10 in the coming years.
How Pharmaceutical Industry Increasing Coenzyme Q10 Consumption?
Pharmaceutical applications are most likely to dominate the coenzyme Q10 market in the coming years. Coenzyme Q10 is widely used in the treatment of heart attack, heart failure, high blood pressure, lung, and cancer-like diseases. In addition, they are also helpful to prevent migraine headaches as well. This is anticipated to create high demand for coenzyme Q10 during the forecast period, especially across the pharmaceutical industry.
Which Product Type is Likely to Dominate the Coenzyme Q10 Market?
Ubiquinone coenzyme Q10 is likely to dominate the market during the forecast period. Ubiquinone coenzyme Q10 is widely used to improve the symptoms of congestive heart failure. It also helps to reduce blood pressure levels. Some research suggests that when they are combined with nutrients, CoQ10 might aid recovery in people who have had heart surgery.
Ubiquinone coenzyme Q10 product type is anticipated to grow at a CAGR of 6.9% in the period of 2023-2033.
Know thy Competitors
Competitive landscape highlights only certain players
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Market Titans Key Strategies
Prominent coenzyme Q10 market players are Kaneka Corporation, Xiamen Kingdomway Group, Nisshin Seifun Group, Kyowa Hakka U.S.A. Inc., Tishcon Corporation, and Pharmavite LLC.
Manufacturers are inclined towards adopting ground-breaking strategies to gain high-profit margins. Long-term trade relations with the suppliers and end-users enable market titans to survive during unfavorable trade situations. Further, product launches turned out to be a go-to strategy for market players to cater to the consumers’ demand.
For instance, in 2021 Kaneka Corporation launched Watashi no Chikara Q10-Yogurt. This product offers the consumer a convenient option to fulfill the dietary requirement of the CoQ10.
Fact.MR has provided detailed information about the price points of key manufacturers of coenzyme Q10 positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Coenzyme Q10 Industry Research
By Product Type :
By Production Method :
- Microbial Fermentation
- Chemical Synthesis
By End-Use Industry :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global coenzyme Q10 market is anticipated to be valued at US$ 689.5 million in 2023.
During 2023-2033, the consumption of coenzyme Q10 is estimated to increase at a 7.2% CAGR.
The Europe market is anticipated to grow at a CAGR of 7.1% between 2023–2033.
Pharmaceuticals to hold maximum market share.
China is anticipated to grow at the highest CAGR of 7.3% in the forecast period.
Kaneka Corporation, Xiamen Kingdomway Group, Nisshin Seifun Group, Kyowa Hakko U.S.A. Inc., Tischon Corporation, and Pharmavite LLC are some of the prominent manufacturers in the coenzyme Q10 market