December 26, 2019
According to the research report titled ‘Coenzyme Q10 Market Size By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global coenzyme Q10 market is projected to cross USD 1 billion by the year 2026.
Favorable federal initiatives which encourage healthy lifestyle is the major factor driving the coenzyme Q10 (CoQ10) market growth. The advent of sustainable solutions for treatment of nutrition deficiency is leading to shifting consumer preference for utilizing natural antioxidants. This has significantly led to manufacturing of innovative supplements which in turn is aiding the coenzyme Q10 market expansion.
Coenzyme Q10 helps in minimizing the occurrence of health disorders and improves nutritional value of food items. Thus, increasing consumer awareness regarding coenzyme Q10 benefits is stimulating the industry outlook. CoQ10 antioxidants comprise of vitamins C & E which prevent cell damage and enhances skin moisturization. Furthermore, these antioxidants minimize risks of heart failures and improves blood pressure. These factors, along with rising adoption of nutraceutical supplements which comprise of CoQ10 antioxidants are favoring the market growth trends.
Lack of recognition of Coenzyme Q10 for treating chronic diseases by various governments may hinder the growth of the market. Strict government policies in using drugs, coupled with lack of awareness regarding the benefits of CoQ10 may hinder the growth of the market.
Based on application spectrum, dietary supplements segment of CoQ10 market will register considerable growth over the forecast period. Rising awareness regarding nutritional enrichment among consumer is leading to rising adoption of dietary supplements which in turn will boost the growth of the segment.
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Considering geographical landscape, Asia-Pacific coenzyme Q10 market is estimated to grow substantially in the upcoming years. Evolving consumer food habits is leading to growing occurrence of lifestyle diseases like obesity, especially in China and India. This factor, in consort with favorable government initiatives which promote healthy lifestyle will augment the demand for CoQ10 across the region.
The prominent companies operating in coenzyme Q10 market are Pharmavite, SourceOne Global Partners, Kaneka Corp., Healthy Origins, and DSM among others.
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