PUBLISHER: DataM Intelligence | PRODUCT CODE: 1448020
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1448020
Carnitine Supplements Market - 2023-2030
Overview
Global Carnitine Supplements Market reached US$ 301.2 million in 2022 and is expected to reach US$ 438.2 billion by 2030, growing with a CAGR of 4.8% during the forecast period 2023-2030.
The global carnitine supplements market has witnessed significant growth and transformations over the years, with various factors influencing its dynamics. Consumers are adopting carnitine a dietary supplement that plays a vital role in energy production and enhancing the utilization of fat for energy. Hence, it may significantly help in driving the global carnitine supplements market.
Furthermore, as the demand for carnitine supplements is rising manufacturing companies are developing innovative products in order to expand their market size. For instance, in November 2023, NutriJa Lifesciences company launched NUTRIJA L-Carnitine 500mg to increase energy levels in the body and promote high energy, strength & stamina.
Functional drinks account for the largest share of the global carnitine supplements market. Similarly, the Asia-Pacific region shows dominance as the demand for carnitine supplements is high in this region, and the manufacturing companies are focusing on developing innovative products to meet the consumer's demand.
Dynamics
Rise in the Prevalence of Obesity
The prevalence of obesity is increasing across most of the developed and developing economies For instance, the World Health Organization (WHO)report in June 2021, obesity has reached epidemic proportions globally, with at least 2.8 million people dying each year as a result of being overweight or obese. As a result of such high prevalences can significantly boost the carnitine supplements market demand.
Furthermore, consumers are adopting these carnitine supplements, as they are often marketed as potential aids for weight loss, as carnitine supplementation enhances the use of fat as an energy source, and also increases fat oxidation during exercise. Thus these factors might increase the adoption rate for carnitine supplements for weight loss, post workouts, which can help in driving the market.
Diverse Product Developments in Various Applications
The diverse product developments in various applications are significantly driving the global carnitine supplements market, as these Carnitine supplements have been included in weight management and fat loss product formulations, and are often adopted as sports nutrition. Manufacturers often market these supplements as supporting fat metabolism and energy utilization, attracting consumers looking for weight loss solutions.
Furthermore, companies are developing carnitine supplements in a wide range of flavors and applications. For instance, in September 2022, New Delhi-based firm Modicare launched a range of sports nutrition products for active lifestyles. The Well Sports L Carnitine meets the pre-workout energy needs by converting stored fat into energy.
Strict Regulatory Authorities
Regulatory authorities may closely scrutinize health claims made by manufacturers of dietary supplements, including those containing carnitine. Stricter regulations or changes in regulatory requirements could impact the marketing and availability of carnitine supplements. Hence, the strict regulations might affect the growth of the global carnitine supplements market.
Segment Analysis
The global carnitine supplements market is segmented based on product type, flavor type, form, distribution channel, end-user, and region.
Increasing Demand for Functional Drinks
The functional drinks segment holds the maximum share of the global carnitine supplements market, consumers are highly adopting these functional drinks containing carnitine may promote energy production, enhance stamina, and reduce fatigue. Therefore, such factors can help in propelling the growth of the global carnitine supplements market.
In addition, the rising usage of carnitine supplements in various applications such as sports nutrition creates an opportunity for manufacturing companies to develop innovative products. For instance, in Feburary 2022, Applied Nutrition launched a L-Carnitine sports drink. which is Carni-Tone is the flavored spring water and adds to the company's portfolio of ready-to-drink (RTD) products.
Geographical Penetration
Product Launches
Asia-Pacific has been a dominant force in the global carnitine supplements market. Consumers in this region are highly adopting these carnitine supplements as they help in weight management and enhance the fat oxidation into energy, hence it can help increase the market growth. Furthermore, as the demand for carnitine supplements is gaining popularity among consumers in this region.
Manufacturing companies are launching innovative products to expand their market sizes. For instance, in June 2023, Steadfast Nutrition expanded its portfolio by launching supplements L-Carnitine, in the performance nutrition, wellness, and effervescent range in a glittering ceremony at Asia's biggest health and fitness expo.
Competitive Landscape
The major global players in the market include Scorpion Supplements, Guardian Healthcare Services Pvt. Ltd., NOW Health Group, Inc., Biosint S.p.A., Cayman Chemical, Allmax Nutrition., Lonza Group Ltd., AOR., Designs for Health, Inc., and Huanggang Huayang Pharmaceutical Co., Ltd.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic in late 2019 created a positive impact on the carnitine market, as the health and fitness awareness among consumers during the pandemic has increased, which has increased the opportunity for the development of various carnitine supplements.
By Product Type
- Food Grade
- Livestock Feed Grade
- Pharmaceutical Grade
- Functional Drinks
- Others
By Flavor Type
- Berry Jars
- Lemon/Citrus
- Cherry
- Mango
- Others
By Form
- Capsule
- Liquid
- Powder
- Others
By Distribution Channel
- Online Sales
- Hypermarkets/Supermarkets
- Specialty stores
- Others
By End User
- Men
- Women
- Children
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In December 2022, AG Barr has announced the acquisition of Boost Drinks. Boost - which offers energy drinks, RTD iced coffees and sports-focused beverages, it has been acquired for an initial consideration of £20 million, on a debt-free, cash-free basis.
- In February 2022, Applied Nutrition, a UK based sports nutrition company has announced the launch of its new L-Carnitine sports drink. Carni-Tone is the company's first flavoured spring water and adds to the company's portfolio of ready to drink (RTD) products. It is also the company's first L-Carnitine (a compound that supports energy metabolism) RTD beverage in Applied Nutrition's line up and has been in development since 2021.
Why Purchase the Report?
- To visualize the global carnitine supplements market segmentation based on product type, flavor type, form, distribution channel, end-user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of carnitine supplements market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global carnitine supplements market report would provide approximately 78 tables, 78 figures and 210 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
Table of Contents
1.Methodology and Scope
- 1.1.Research Methodology
- 1.2.Research Objective and Scope of the Report
2.Definition and Overview
3.Executive Summary
- 3.1.Snippet by Product Type
- 3.2.Snippet by Flavor Type
- 3.3.Snippet by Form
- 3.4.Snippet by Distribution Channel
- 3.5.Snippet by End User
- 3.6.Snippet by Region
4.Dynamics
- 4.1.Impacting Factors
- 4.1.1.Drivers
- 4.1.1.1.Rise in The Prevalence of Obesity
- 4.1.1.2.Diverse Product Developments in Various Applications
- 4.1.2.Restraints
- 4.1.2.1.Strict Regulatory
- 4.1.3.Opportunity
- 4.1.4.Impact Analysis
- 4.1.1.Drivers
5.Industry Analysis
- 5.1.Porter's Five Force Analysis
- 5.2.Supply Chain Analysis
- 5.3.Pricing Analysis
- 5.4.Regulatory Analysis
- 5.5.DMI Opinion
6.COVID-19 Analysis
- 6.1.Analysis of COVID-19
- 6.1.1.Scenario Before COVID
- 6.1.2.Scenario During COVID
- 6.1.3.Scenario Post COVID
- 6.2.Pricing Dynamics Amid COVID-19
- 6.3.Demand-Supply Spectrum
- 6.4.Government Initiatives Related to the Market During Pandemic
- 6.5.Manufacturers Strategic Initiatives
- 6.6.Conclusion
7.By Product Type
- 7.1.Introduction
- 7.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 7.1.2.Market Attractiveness Index, By Product Type
- 7.2.Food Grade*
- 7.2.1.Introduction
- 7.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3.Livestock Feed Grade
- 7.4.Pharmaceutical Grade
- 7.5.Functional Drinks
- 7.6.Others
8.By Flavor Type
- 8.1.Introduction
- 8.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 8.1.2.Market Attractiveness Index, By Flavor Type
- 8.2.Berry Jars*
- 8.2.1.Introduction
- 8.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3.Lemon/Citrus
- 8.4.Cherry
- 8.5.Mango
- 8.6.Others
9.By Form
- 9.1.Introduction
- 9.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.1.2.Market Attractiveness Index, By Form
- 9.2.capsule*
- 9.2.1.Introduction
- 9.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3.Liquid
- 9.4.Powder
- 9.5.Others
10.By Distribution Channel
- 10.1.Introduction
- 10.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.1.2.Market Attractiveness Index, By Distribution Channel
- 10.2.Online Sales*
- 10.2.1.Introduction
- 10.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3.Hypermarkets/Supermarkets
- 10.4.Specialty stores
- 10.5.Others
11.By End User
- 11.1.Introduction
- 11.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.1.2.Market Attractiveness Index, By End User
- 11.2.Men*
- 11.2.1.Introduction
- 11.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3.Women
- 11.4.Children
12.By Region
- 12.1.Introduction
- 12.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2.Market Attractiveness Index, By Region
- 12.2.North America
- 12.2.1.Introduction
- 12.2.2.Key Region-Specific Dynamics
- 12.2.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.2.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 12.2.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.2.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.2.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1.U.S.
- 12.2.8.2.Canada
- 12.2.8.3.Mexico
- 12.3.Europe
- 12.3.1.Introduction
- 12.3.2.Key Region-Specific Dynamics
- 12.3.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.3.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 12.3.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.3.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.3.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1.Germany
- 12.3.8.2.UK
- 12.3.8.3.France
- 12.3.8.4.Italy
- 12.3.8.5.Russia
- 12.3.8.6.Rest of Europe
- 12.4.South America
- 12.4.1.Introduction
- 12.4.2.Key Region-Specific Dynamics
- 12.4.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.4.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 12.4.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.4.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.4.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1.Brazil
- 12.4.8.2.Argentina
- 12.4.8.3.Rest of South America
- 12.5.Asia-Pacific
- 12.5.1.Introduction
- 12.5.2.Key Region-Specific Dynamics
- 12.5.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.5.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 12.5.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.5.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.5.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1.China
- 12.5.8.2.India
- 12.5.8.3.Japan
- 12.5.8.4.Australia
- 12.5.8.5.Rest of Asia-Pacific
- 12.6.Middle East and Africa
- 12.6.1.Introduction
- 12.6.2.Key Region-Specific Dynamics
- 12.6.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.6.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Flavor Type
- 12.6.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.6.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
13.Competitive Landscape
- 13.1.Competitive Scenario
- 13.2.Market Positioning/Share Analysis
- 13.3.Mergers and Acquisitions Analysis
14.Company Profiles
- 14.1.Scorpion Supplements*
- 14.1.1.Company Overview
- 14.1.2.Product Portfolio and Description
- 14.1.3.Financial Overview
- 14.1.4.Key Developments
- 14.2.Guardian Healthcare Services Pvt. Ltd.
- 14.3.NOW Health Group, Inc.
- 14.4.Biosint S.p.A.
- 14.5.Cayman Chemical
- 14.6.Allmax Nutrition.
- 14.7.Lonza Group Ltd.
- 14.8.AOR.
- 14.9.Designs for Health, Inc.
- 14.10.Huanggang Huayang Pharmaceutical Co., Ltd.
LIST NOT EXHAUSTIVE
15.Appendix
- 15.1.About Us and Services
- 15.2.Contact Us
