The market for coenzymes is anticipated to reach a value of US$ 1,381.9 million by the end of 2033, growing at a CAGR of 7.2% from an estimated US$ 689.5 million in 2023.
Coenzyme Q10 is a 1,4-benzoquinone, where 10 is the number of isoprenyl chemical subunits in its tail and Q is the Quinone chemical group. A substance called coenzyme Q10 (CoQ10) is produced by the body on its own.
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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.
Market Titans Key Strategies
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.
- 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.
Market Participants
- Kaneka Corporation
- Xiamen Kingdomway Group
- Nisshin Seifun Group
- Kyowa Hakko U.S.A. Inc.
- Tishcon Corporation
- Pharmavite LLC
Key Segments Covered
- Product Type
- Ubiquinone Coenzyme Q10
- Ubiquinol Coenzyme Q10
- Production Method
- 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
Key Question answered in the survey of Coenzyme Q10 market report:
- Sales and Demand of Coenzyme Q10
- Growth of Coenzyme Q10 Market
- Market Analysis of Coenzyme Q10
- Market Insights of Coenzyme Q10
- Key Drivers Impacting the Coenzyme Q10 market
- Which are the Key drivers impacted by Coenzyme Q10 market
- Restraints Shaping Market Growth
- Market Survey of Coenzyme Q10
More Valuable Insights on Coenzyme Q10 Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Coenzyme Q10, Sales and Demand of Coenzyme Q10, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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