PUBLISHER: SkyQuest | PRODUCT CODE: 1259975
PUBLISHER: SkyQuest | PRODUCT CODE: 1259975
Global CoQ10 Supplement Market was valued at USD 550.51 million in 2021, and it is expected to reach a value of USD 1148.93 million by 2028, at a CAGR of 9.7% over the forecast period (2022-2028).
Rising cases of heart disease, diabetes, and lung disease in many emerging and established countries as a result of bad lifestyles and food habits have boosted global demand for healthy food and nutrients, which has recently driven demand for coenzyme Q10.
Coenzyme Q10 advantages include its usage for cardiac diseases such as heart failure and fluid buildup in the body (congestive heart failure or CHF), chest pain (angina), and high blood pressure. It is also used to prevent migraines, Parkinson's disease, and a variety of other illnesses. According to a World Health Organization (WHO) report, the number of cancer patients is expected to rise significantly by 2030, increasing demand for CoQ10 during the forecast period.
Top-down and bottom-up approaches were used to estimate and validate the size of global CoQ10 Supplement Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.
Segments covered in this report:
The global CoQ10 supplement market is segmented on the basis of type, application, and region. Based on type, the market is segmented into soft capsules and chewable tablets. Based on application, the market is segmented into pharmaceuticals, dietary supplements, and cosmetics. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The key driving force for the CoQ10 supplement market is the increased use of CoQ10 in the areas of cognitive illness, eye care, cancer, and heart disease. Increasing product awareness is raising the acceptance of healthy dietary supplements, which will drive the CoQ10 supplement market over the forecast period.
Working people are failing to satisfy their daily nutrient requirements due to busy lifestyles, hectic work schedules, and less time available for cooking food. As a result, consumers have shifted their focus to dietary supplements to achieve their daily nutrient requirements, which will boost the supplement industry internationally.
Coenzyme Q10 has various skin benefits, including providing energy to skin cells, which is essential to repair and renew skin cells, reducing UV damage, and supporting the creation of elastin and collagen. As a result, increased awareness among cosmetic producers about the benefits of coenzyme Q10 will drive the market in the future.
Because of the product's high awareness and widespread availability, increased urbanisation and country development will drive up demand for COQ10.
Restraint
Throughout the analysis period, the worldwide CoQ10 supplement market is likely to be restrained by stringent standards and regulations regarding product usage in medical and dietary supplements.
Market Trends
Because of the significant demand for dietary supplements containing coenzyme Q10, which can be used as an effective treatment for a number of cardiac diseases, coenzyme Q10 is primarily used in the dietary supplement business. CoQ10 has been classified as a Generally Recognized as Safe (GRAS) food ingredient by regulatory bodies such as the Food and Drug Administration (FDA).
Coenzyme Q10 boosts the nutritional value of a food. Apart from being utilised as an energy booster in the human body, CoQ10 is also widely used in anti-aging beauty treatments, which will promote coenzyme Q10 acceptance and, as a result, push global market expansion.
The rise in chronic health issues such as cardiovascular disease and cancer will further fuel the industry.
It has been discovered that the majority of people suffering from congestive heart failure have low CoQ10 levels in their bodies. The use of CoQ10 pills as part of regular therapy helps to reduce the severity of the ailment as well as its complications.