Adoption of Coenzyme Q10 in the Nutraceuticals Industry is Gathering Momentum
The microbial fermentation method for coenzyme Q10 has gained more traction and adoption, which can be attributed to its effectiveness in synthesizing coenzyme Q10. With respect to the end-use industry, coenzyme Q10 is largely used in the nutraceuticals industry, owing to the high consumption and demand for nutraceutical supplements containing coenzyme Q10, which can be used as an efficient solution against various heart disorders.
Regulatory bodies, such as Food and Drug Association (FDA), have recognized coenzyme Q10 as Generally Recognized as Safe (GRAS), and are safely integrating it as a food additive. Coenzyme Q10 enhances the nutritional value of the food product. Apart from its usage as an energy enhancer in the human body, it is also largely used in cosmetic creams to tackle anti-aging, which is expected to drive the adoption of coenzyme Q10 and consequently push the growth of its market across the globe. Moreover, its usage as a superior antioxidant has fueled its adoption in various therapeutic applications that focuses on minimizing the occurrence of several metabolic disorders including diabetes, cancer, and cardiovascular disorders. In addition to this, consumption of coenzyme Q10 supplements have facilitated positive outcomes, particularly in patients on statin medications. This factor is anticipated to be the driving force for the growth of the global market for coenzyme Q10 during the assessment period.
Among patients with cardiovascular diseases, substantial improvement is often seen when the heart cells’ ability to produce more ATP is sparked by the supplemental CoQ10. Due to this, Americans will spend an estimated US$ 2.5 billion in 2017 on dietary supplements, such as Ubiquinol CoQ10, which supports cardiovascular health.
For instance, under the new guidelines, 56 million Americans in the age group of 40 to 75 are under statin drugs prescription and 43 million are under the old recommendation. Out of these, 25 million people are taking statin drugs.
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Benefits of Coenzyme Q10 in Treating Various Diseases, a Key Factor for Market Growth
Coenzyme Q10 is majorly used in pharmaceuticals, nutraceuticals, and cosmetics. Coenzyme Q10 enjoys high importance in the cosmetic industry, owing to its antioxidant properties. It is the basic unit that is responsible for 95% of energy generation inside cells, and also plays a pivotal role in treating various diseases, such as CVD, secondary diabetes, lungs and kidney problems, and infertility. All these reasons are responsible for the growing demand for coenzyme Q10, which is expected to grow during the forecast period.
The nutraceuticals industry is capable of pushing the market ahead as increasing number of people are getting more concerned about their health and have started the consumption of supplemental pills, which is expected to boost to the coenzyme Q10 market growth during the forecast period. The industry will grow at a rapid pace, majorly because of the presence of fitness freaks and health-concerned people. People who are concerned about health are making use of supplements in the form of capsules, pills, and powders. Coenzymes are basic supplements that are naturally produced inside the body. When the level of coenzymes in Q10 decreases, it creates major problems. Thus it leads to an increased consumption and is expected to have a high demand for coenzyme Q10 during the forecast period.
Increasing Usage of Coenzyme Q10 in the Food Industry
Growing demand for health food is another factor responsible for the growth of the coenzyme Q10 market. People in America and Japan are conscious about the intake of healthy foods, which will create a huge demand for products that contain coenzyme Q10 in the food market.
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High Percentage of Lifestyle and Age Related Diseases to Fuel Market Growth
In North America, there has been an increase in the consumption of CoQ10 due to high incidences of diseases, such as high blood pressure, high cholesterol (especially when taking statin drugs), coronary heart diseases, heart arrhythmia diseases, atherosclerosis, and congestive heart failures. CoQ10 helps protect heart and blood vessels from damaging effects of oxidative stress. North America is likely to create prolific demand for CoQ10 during the forecast period.
Coenzyme Q10 is an immunity boosting enzyme that reduces the possibility of cancer. Furthermore, statin prescriptions have begun to treat patients with lower cholesterol levels in the country. However, this drug negatively impacts the heart as it reduces coenzyme Q10 level in the body. Increasing awareness regarding the negative impacts of statin will proliferate the demand for coenzyme Q10. According to the CoQ10 Association, around 16,000,000 individuals consume coenzyme Q10 daily. This is expected to support the growth of the coenzyme Q10 market in North America during the assessment period.
The aging population is expected to provide opportunities for the cosmetic business expansion in the Latin America region. According to WHO, the population in Latin America is aging at a rapid pace. As stated in WHO statistics, in 2015, the percentage of population aged over 60 years was around 12 percent, which is expected to touch ~15 % by 2020 and increase at a rapid pace to reach ~20% by 2050. With this, consumers’ preference for anti-aging creams have risen significantly, offering potential growth opportunities for the market expansion of coenzyme Q10, which is extensively used in skin creams for skin rejuvenation.
The demand for coenzyme Q10 in treating Parkinson’s disease is expected to increase in European countries during the assessment period. NIH (National Institutes of Health) has recommended the consumption of coenzyme Q10 supplements for patients that have developed Parkinson’s disease. In Europe, ~1 million people are affected by Parkinson’s disease, which has raised the economic burden associated with Parkinson’s disease (PD) treatment in the region. According to the Spanish Healthcare System, early stages of PD require an expensive treatment, which makes it difficult for middle-class individuals to bear the increasing healthcare costs. However, with growing awareness regarding benefits of coenzyme Q10, its demand for treating the disease is expected to increase among European countries, consequently aiding the growth of the coenzyme Q10 market.
With an increase in heart-related problems in Japan, significant opportunities will rise for market players. According to the Japanese Heart Failure Society, high number of patients diagnosed with heart failure will continue to increase and by 2030, the number is anticipated to reach ~1 million. Given this scenario, medical facilities are focusing on innovations in cardiovascular medicine outside the conventional framework. This can leverage the usage of coenzyme Q10 as it facilitates generation of adenosine triphosphate and reduces oxidative stress. This is expected to have a significant influence on the demand for coenzyme Q10 supplements in the country.
Largely driven by increasing consumers’ preference for skin care products and beauty supplements, the coenzyme Q10 market is expected to gain significant traction in developing markets of Asia Pacific excluding Japan (APEJ) in the coming years. This is a result of the increasing aging population in the region, coupled with declining mortality rates in countries such as China and India, as revealed by UNESCO.
North Africa and countries in the Middle East are facing health challenges similar to those in the western countries. Of these health challenges, CVD (cardiovascular diseases) is the biggest cause of death in these regions. The Middle East and Africa witnessed ~16% increase in cardiovascular disease rate in 2017. This is expected to increase the consumption of coenzyme Q10 in the region during the forecast period. Moreover, another factor aiding the growth of the coenzyme Q10 market in the MEA region is the preference for anti-aging creams, according to a UN report.
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Coenzyme Q10 Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing demand, sales, and revenue generation in the coenzyme Q10 market around the world. The opportunity analysis included in the report is beneficial for readers to understand better opportunities in the pharmaceuticals and nutraceuticals industries, which will, in turn, trigger the adoption of coenzyme Q10.
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Coenzyme Q10 Market: Analysis on Market Size Evaluation
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Coenzyme Q10 Market: In-depth Analysis on Competitive Landscape
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