Coenzyme Q10 Market 2021 Global Industry Analysis and Growth Outlook 2027

The coenzyme Q10 market size is expected to exceed USD 1.15 billion by 2027

The coenzyme Q10 industry is touted to gain remarkable traction over the coming years propelled by the extensive deployment of the product across a wide array of applications in the cosmetics market. This trend has been observed on account of the multiple coenzyme Q10 benefits, comprising evening out skin tone, reduction of sun damage, and the stimulation of collagen and elastin production.

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The industry growth is further driven by the increasing awareness about the advantages of the product amongst manufacturers in the cosmetics sector. An increase in research-based activities by various organizations is also set to bolster business expansion over the estimated period.

For instance, in Jan 2021, as per research led by scientists from the UGR (University of Granada), a coenzyme Q10 supplement could be used as a valuable complementary therapeutic alternative in the treatment of thyroid carcinoma, certain mitochondrial diseases, colon cancer, and Crohn’s disease.
On account of these factors, the coenzyme Q10 market size is expected to exceed USD 1.15 billion by 2027, as stated by the most recent study by Global Market Insights, Inc.

The upsurge is attributed to the growing consumer inclination towards healthy lifestyle and the escalating emphasis on health promoting dietary supplements. The market expansion is stimulated by the increasing awareness regarding numerous coenzyme Q10 benefits in healthcare applications for the promotion of heart health, treatment of Huntington’s disease, and the treatment of cancer.

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Considering the extensive range of coenzyme Q10 uses, few major trends that could potentially impel industry outlook are as follows:
Rising demand across pharmaceutical applications in the Asia Pacific
The Asia Pacific coenzyme Q10 industry is slated to escalate at a substantial CAGR of 11.5% through 2027. This rise is due to aging demographics and the increasing demand for coenzyme Q10 across the pharmaceutical sector.

Moreover, the escalating demand for dietary supplements in emerging economies such as China, South Korea, and India owing to the increasing per capita income and the rising expenditure on health-enhancing products will boost Asia Pacific coenzyme Q10 market growth over the forthcoming years.

Increasing usage in functional food products and toothpaste
The functional food and toothpaste segment is slated to record gains of over 8.5% between 2021 and 2027. The emerging use of coenzyme Q10 as a nutritional ingredient in toothpaste and functional food products is set to favor the demand for coenzyme Q10 foods across various regions.

Studies cite that the usage of coenzyme Q10 for brushing teeth helps in the restoration of the natural balance of microorganisms that are present in mouth and also assists in the maintenance of healthy gums. The rising demand for nutritive convenience and the increasing health awareness among consumers across the world will push market expansion through the assessment span.

Escalating demand for coenzyme Q10 enriched dietary supplements in North America
North America market is slated to record a CAGR of more than 9.8% due to the soaring demand for coenzyme Q10 enriched dietary supplement products. The regional growth is propelled by a considerable shift towards natural and organic cosmetic products.

In a nutshell, increasing focus of major players on strategic initiatives such as partnerships, collaborations, mergers & acquisitions, as well as new product launches will augment coenzyme Q10 market share through the forecast span. Prominent coenzyme Q10 manufacturers comprise NOW foods, Kaneka Corporation, Vitamin Shoppe, DSM, SourceOne Global Partners, and others.

About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Release ID: 89041289