Fact.MR- a market research and competitive intelligence provider- has recently published a report on the coenzyme Q10 industry. As per its findings, the market is expected to reach US$ 1.3 Bn by the end of the forecast period 2021-2031. Revenues will more than double, with pharmaceutical applications emerging dominant and clocking a CAGR worth 7%. As of 2021, it is likely to reach US$ 600 Mn.
Key Points Covered in Coenzyme Q10 Industry Analysis
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Coenzyme Q10 Market and How to Navigate
- Recommendation on Key Winning Strategies
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Coenzyme Q10 Consumption Analysis 2016-2020 in Comparison to Future Outlook 2021-2031
As per Fact.MR’s report, between 2016 and 2020, the sales of coenzyme Q10 surged at a CAGR of 6%, attributed to unceasing clinical studies aimed at determining the efficacy of the enzyme on potentially debilitating chronic conditions, including Parkinson’s disease.
Manufacturers of coenzyme Q10 are focusing on providing the same in various forms such as yogurts, powders and pills. This, in turn, is boosting the sales of coenzyme Q10. Further impetus was received during COVID-19, with several studies predicting that the pathobiochemical effects induced by the SARS-CoV-2 virus could lead to mitochondrial bioenergetics dysfunction, causing a shortage of CoQ10 in the body. Hence, patients would require its administration via the oral or intravenous routes.
In the future, prominent manufacturers are optimistic about coenzyme Q10 applications to treat a wide range of chronic and infectious ailments, prompting their incorporation across a range of nutraceuticals, dietary supplements and food formulations. Fact.MR expects this industry to flourish at a CAGR of 8% from 2021 to 2031.
What Prominent Factors are Widening Growth Prospects for Coenzyme Q10?
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 fuelled its adoption in various therapeutic applications that focus 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.
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How are Nutraceutical and Pharmaceutical Applications Spurring Sales?
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 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.
How will Growing Incidence of Chronic Disorders across North America Affect Coenzyme Q10 Sales?
Countries such as the U.S. and Canada are witnessing 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. 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.
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 and generate a market share for more than 45% during the assessment period.
An Adaptive Approach to Modern-day Research Needs
High Parkinson’s Disease Prevalence Accelerating Growth of Coenzymes Q10 in Asia?
According to Neurology Asia, global burden on Parkinson’s disease is expected to rise in the future. A majority of this burden is likely to be contributed by six of the most populous countries in Asia (India, China, Indonesia, Pakistan, Japan and Bangladesh). The incidence is likely to rise to 6.17 million by 2030.
Out of the aforementioned countries, 2/3rd of the prevalence rates are likely to be across China and India. Consequently, numerous clinical trials have been initiated in order to test the efficacy of coenzyme 10 across these countries, thus broadening growth prospects. As per Fact.MR, the region is expected to register more than 25% market share for coenzymes Q10 market in the assessment period.
While at the present moment there is no documented therapy to reduce the rate of progression of PD, several Phase II clinical trials have demonstrated that coenzyme Q10 in dosages of 300, 600 and 1200 mg/day was safe and well tolerated in individuals with early, untreated PD.
How are Pharmaceutical Applications Spurring Coenzyme Q10 Demand?
According to Fact.MR, pharmaceutical applications of coenzyme Q10 are anticipated to remain dominant. A CAGR of over 7% is anticipated for this segment across the forecast period.
Coenzyme Q10 is extensively used to address conditions affecting the heart, including congestive heart failure, angina, high blood pressure and cardiac arrest. In addition, they are also used to prevent migraine headaches, onset of Parkinson’s disease and other conditions.
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Manufacturers of coenzyme Q10 are focusing on inducing the same in different formats and enriching the nutritional value.
- In January 2021, Kaneka Corporation launched a new product named Watashi no Chikara (My Energy Q10 Yogurt). The company is focusing on selling coenzyme Q10 through products which are liked by people and would add nutritional value to their everyday food.
|Market Size Value in 2021||USD 600 Million|
|Market Value Forecast in 2031||USD 1.3 Billion|
|Growth Rate||CAGR of 8% from 2021 to 2031|
|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & Kg for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Segments Covered
- Ubiquinone Coenzyme Q10
- Ubiquinol Coenzyme Q10
- Coenzyme Q10 Production via Microbial Fermentation
- Coenzyme Q10 Production via Chemical Synthesis
End Use Industry
- Coenzyme Q10 for Pharmaceuticals
- Coenzyme Q10 for Nutraceuticals
- Coenzyme Q10 for Cosmetics
- Coenzyme Q10 for Other End Use Industries
Coenzyme Q10 Market- Scope of Report
A recent study by Fact.MR on the coenzyme Q10 market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering coenzyme Q10.
The study also provides the dynamics responsible for influencing the future status of the coenzyme Q10 market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the coenzyme Q10 market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of coenzyme Q10 across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of coenzyme Q10 during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative coenzyme Q10 markets?
- Which factors will impact the growth of coenzyme Q10?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the coenzyme Q10 industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (Kg) and value (US$ Mn).
Estimates at global and regional levels for coenzyme Q10 are available in terms of “US$ Mn” for value and in “‘Kg” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.
Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global coenzyme Q10 market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the coenzyme Q10 market during the forecast period.
Country-specific valuation on demand for coenzyme Q10 has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of coenzyme Q10, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering coenzyme Q10 has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the coenzyme Q10 domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the coenzyme Q10 industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
As of 2021, the market for coenzyme Q10 will reach US$ 600 Mn
The coenzyme Q10 market is expected to surpass a CAGR of 8% from 2021-2031.
The coenzyme Q10market is expected to reach nearly US$ 1.3 Bn by 2031
Extensive applications in pharmaceuticals and nutraceuticals will likely drive market growth
North America is anticipated to be the most lucrative market for coenzyme Q10, capturing 45% revenue
Coenzyme Q10 sales in Asia will account for 25% of the global market share
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.
The pharmaceutical industry is expected to hold the highest share for sales, expanding at 7% CAGR
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.