Coenzyme Q10 (CoQ10) market growth is boosted by rising demand for anti-aging creams and dietary supplements
Global Coenzyme Q10 (CoQ10) Market size produced $351 million in terms of revenue for 2015 and may register CAGR of more than 10.1%. Strong application overview in cosmetics as well as medical sector in APAC and Europe is projected to promote industry expansion.
The product is extensively used in sunscreen lotion and anti-aging cream preparation to avoid skin damage by free radicals. Growing aging population can propel demand for food supplements and anti-aging creams. All these factors can fuel global coenzyme Q10 (CoQ10) industry trends. Furthermore, growing pollution and rising concerns about ultraviolet radiation effects on skin is projected to promote demand of sunscreen lotion. Product application in treating neurological ailments, kidney failure, periodontal and cancer is projected to propel global coenzyme Q10 (CoQ10) market growth. In addition to this, favorable trends observed in food supplements consumption all across the globe are projected to promote global coenzyme Q10 (CoQ10) market price trends.
Europe Coenzyme Q10 Market size, by application, 2013-2024 (USD Million)
However, lack of stringent rules in medical therapy can inhibit industry expansion. Tight raw substance supply in form of tryptone, peptone and hexane can affect global coenzyme Q10 (CoQ10) industry price trends.
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Global Coenzyme Q10 (CoQ10) industry is segmented into cosmetic application, pharmaceutical application and food supplement application.
Food supplement segment contributed more than $226 million for 2015. Increasing healthcare awareness due to growing levels of malnourishment is predicted to contribute towards segment growth. Furthermore, consumption of coenzyme Q10 through food supplements enhances blood levels and reinforces antioxidant features that prevents occurrence of major ailments caused due to metabolism problems and cellular oxidative injury.
Pharmaceutical application is predicted to experience gains of more than 9.6% during forecast timeline. Favorable effects on Parkinson and Migraine therapies is predicted to drive demand for coenzyme Q10 in this segment.
Cosmetics application segment is expected to exceed $141 million by end of forecast timeframe. It is expected to growth as the coenzyme Q10 product is utilized in cosmetics like skin moisturizers and anti-wrinkle products as well as sunscreen lotions.
Global Coenzyme Q10 (CoQ10) market is segmented into various regions like North America, APAC, Europe, Middle East & Africa and Latin America.
North American industry, led by U.S. Coenzyme Q10 (CoQ10) market, produced more than $201 million revenue for 2015. Beverages and personal care items contributed a key share in U.S. industry growth.
APAC, with cosmetic sector expansion in India and China, is projected to record CAGR of more than 10.1%. Rising consciousness about nutritional items coupled with increase in per capita income is projected to boost APAC Coenzyme Q10 (CoQ10) industry growth.
Latin America, with growing cosmetic sector in Mexico and Brazil, is projected to promote industry demand. Growing disposable incomes coupled with favorable indicators for medical therapies is anticipated to promote product demand.
Key industry participants profiled in the report include Nisshin Sheifun Group Incorporation, PharmaEssentia, Vitamin Shoppe, Healthy Origins, SourceOne Global Partners LLC, Kaneka Corporation, Hwail Pharmaceutical Company Limited, Vitamin Shoppe Incorporation, Gnosis S.p.A, Tishcon Corporation, ZMC USA and Healthy Directions.
Author Name : Dhananjay Punekar