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North American L-Carnitine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Process ; Product ; Application

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North American L-Carnitine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Process ; Product ; Application
Published: May 12, 2020 Content info: 92 Pages
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Title:
North American L-Carnitine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Process (Chemical Synthesis, Bio-process); Product (Food Grade, Pharmaceutical Grade, Feed Grade); Application (Animal Feed, Healthcare Products, Functional Drinks, Medicines).

The L-Carnitine market was valued at US$ 72.3 million in 2018 and is projected to reach US$ 109.8 million by 2027; it is expected to grow at a CAGR of 4.7% from 2019 to 2027.

L-Carnitine is a naturally occurring compound in the human and animal body, which plays an important role of shuttling fatty acids to and fro in the cells to produce energy. It is produced in the liver and kidneys. However, certain individuals are unable to produce or synthesize required amount of L-Carnitine due to genetic defects. Individuals unable to synthesize L-Carnitine suffer from primary and secondary carnitine deficiency. The US Food and Drug Administration (FDA) has approved the use of oral and intravenous (IV) L-Carnitine for treating primary and secondary carnitine deficiency. At present, L-Carnitine is commercially advertised as nutritional supplements to enhance body fitness and promote weight loss. It is also approved to treat carnitine deficiencies in patients at the end stage of renal diseases undergoing hemodialysis. Besides its uses in human nutrition, L-Carnitine is also used as an additive in the formulation of animal feed formulations. It is used in the poultry industry to increase egg production and improve egg hatchability.

Based on process, the L Carnitine market has been segmented into chemical synthesis and bioprocess. The chemical synthesis segment accounted for the largest share of the North American L-Carnitine market in 2018; however, the bioprocess segment is expected to grow at the highest CAGR during the forecast period. Chemical synthesis involves a two-step process. First being, the formation of hydroxyl-activated (S)-3-hydroxybutyrolactone (a methane sulfonate), followed by conversion of hydroxyl activated (S)-3-hydroxybutyrolactone to L-Carnitine by reaction with trimethylamine in water. The chemical synthesis process of manufacturing L-Carnitine is widely carried out by the manufacturers. The most commonly used chemical synthesis process for manufacturing L-Carnitine is chemical multistep racemization that generates a racemic mixture with D-Carnitine as its byproduct. Chemical multistep racemization starts with the inclusion of epichlorohydrin and trimethylamine as raw material, followed by fractioned crystallization that separates the racemic mixture. Chemo microbiological synthesis is another chemical synthesis process used for the manufacture of L-Carnitine. Under this process, optically pure R-4-chloro-3-hydroxybutyrate is prepared from ethyl acetoacetate by reduction with baker's yeast, which is then finally converted into L-Carnitine using standard methods. L-Carnitine is also produced by employing a coupled enzyme system of glucose dehydrogenase and alcohol dehydrogenase to another enzyme synthesis of R-4-chloro-3-hydroxybutyrate.

The North American L-Carnitine market has been segmented into the US, Canada and Mexico. The US held the largest share of the North American L-Carnitine market, followed by Canada and Mexico. The growing focus toward health-promoting food products is one of the key factors that is boosting the L-Carnitine market in the region. The presence of several manufacturers such as Maxsun Industries Incorporated, Lonza Group Ltd, Northeast Pharmaceutical Group Co., Ltd, Cayman Chemical, and MERCK KGaA have bolstered the growth of the North American L-Carnitine market. Additionally, the consumer demand for healthy and tasty products without any compromise on taste is expected to propel the L-Carnitine market in the region. Further, the growth of food processing, healthcxare and other industries is further propelling the demand for L-Carnitine in the North America region.

Maxsun Industries Incorporated, Lonza Group Ltd, Northeast Pharmaceutical Group Co., Ltd, Cayman Chemical, MERCK KGaA, are among the major players in the North American L-Carnitine market.

Overall size of the North American L-Carnitine market has been derived in accordance to the primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North American L-Carnitine market.

COVID-19 outbreak first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and the US are some of the worst affected countries in terms confirmed positive cases and reported deaths. According to the latest WHO figures, there are ~3,32,930 confirmed cases and 14,510 deaths globally. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food and beverage industry is one of the major sectors facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns due to this outbreak. The lockdown of various plants and factories in the US is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various electronic goods. All these factors are anticipated to affect the pharmaceutical, food & beverage, and other industries and thus restrict the growth of various markets related to this industry in the coming months. The U.S has the highest number of confirmed cases of COVID-19 compared to Canada and Mexico. This is likely to negatively impact the chemical and materials industry in the region, which in turn will affect the supply chain in the market.

Reasons to Buy

  • Highlights key business priorities to assist companies realign their business strategies.
  • Featureskey findings and crucial progressive industry trends in the North America L-Carnitine market, thereby allowing players to develop effective long-term strategies.
  • Develops/modifiesbusiness expansion plans by using substantial growth offering from developed and emerging markets.
  • Scrutinizes in-depth market trends as well as key market drivers and restraints.
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table of Contents
Product Code: TIPRE00010853

TABLE OF CONTENTS

1. Introduction

  • 1.1 Scope of the Study
  • 1.2 The Insight Partners Research Report Guidance
  • 1.3 Market Segmentation
    • 1.3.1 North America L-Carnitine Market - By Process
    • 1.3.2 North America L-Carnitine Market - By Product
    • 1.3.3 North America L-Carnitine Market - By Application
    • 1.3.4 North America L-Carnitine Market - By Country

2. Key Takeaways

3. Research Methodology

  • 3.1 Coverage
  • 3.2 Secondary Research
  • 3.3 Primary Research

4. L-Carnitine Market Landscape

  • 4.1 Market Overview
  • 4.2 PEST Analysis - North America
  • 4.3 Expert Opinions

5. L-Carnitine Market - Key Industry Dynamics

  • 5.1 Market Drivers
    • 5.1.1 Growing Demand for L-Carnitine Supplements to Enable Efficient Conversion of Food into Energy
    • 5.1.2 Rising Demand for Personalized Nutrition, Heart Health, and Athletic Performance
  • 5.2 Market Restraints
    • 5.2.1 Adverse Effects of L-Carnitine
  • 5.3 Market Opportunities
    • 5.3.1 Burgeoning consumption of L-Carnitine Across North America
  • 5.4 Future Trends
    • 5.4.1 Growing Demand for L-Carnitine as Additive in Animal Feed
  • 5.5 Impact Analysis of Drivers and Restraints

6. North America L - Carnitine Market Analysis - By Product

  • 6.1 Overview
  • 6.2 North America L-Carnitine Market Breakdown, By Product, 2018 & 2027
  • 6.3 Food
    • 6.3.1 Overview
    • 6.3.2 North America L-Carnitine Market in Food Segment: Revenue and Forecasts to 2027 (US$ Mn)
  • 6.4 Pharmaceutical Grade
    • 6.4.1 Overview
    • 6.4.2 North America L-Carnitine Market in Pharmaceutical Grade Segment: Revenue and Forecasts to 2027 (US$ Mn)
  • 6.5 Feed Grade
    • 6.5.1 Overview
    • 6.5.2 North America L-Carnitine Market in Feed Grade Segment: Revenue Forecasts to 2027 (US$ Mn)

7. North America L-Carnitine Market Analysis - By Application

  • 7.1 Overview
  • 7.2 North America L-Carnitine Market Breakdown, By Application, 2018 & 2027
    • 7.2.1 Overview
    • 7.2.2 North America L-Carnitine Market in Animal Feed Segment: Revenue and Forecasts to 2027 (US$ Mn)
  • 7.3 Healthcare Products
    • 7.3.1 Overview
    • 7.3.2 North America L-Carnitine Market in Healthcare Products Segment: Revenue and Forecasts to 2027 (US$ Mn)
  • 7.4 Functional Drinks
    • 7.4.1 Overview
    • 7.4.2 North America L-Carnitine Market in Functional Drinks Segment: Revenue and Forecast to 2027 (US$ Mn)
  • 7.5 Medicines
    • 7.5.1 Overview
    • 7.5.2 North America L-Carnitine Market in Medicines Segment: Revenue and Forecast to 2027 (US$ Mn)

8. Carnitine Market Analysis - By Process

  • 8.1 Overview
  • 8.2 L-Carnitine Market, by Process, (2018 & 2027)
  • 8.3 Chemical Synthesis
    • 8.3.1 Overview
    • 8.3.2 North America L-Carnitine Market in Chemical Synthesis Segment: Revenue and Forecast to 2027 (US$ Mn)
  • 8.4 Bioprocess
    • 8.4.1 Overview
    • 8.4.2 North America L-Carnitine Market in Bioprocess Segment: Revenue and Forecast to 2027 (US$ Mn)

9. L-Carnitine- North America Market Analysis

  • 9.1 North America L-Carnitine Market Overview
    • 9.1.1 North America: L Carnitine Market -Revenue and Forecast to 2027(US$ Mn)
    • 9.1.2 North America: L-Carnitine Market, by Process
    • 9.1.3 North America: L Carnitine Market, by Product
    • 9.1.4 North America: L Carnitine Market, by Application
    • 9.1.5 North America: L Carnitine Market, by Key Country
      • 9.1.5.1 US: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
        • 9.1.5.1.1 US: L Carnitine Market, by Process
        • 9.1.5.1.2 US: L Carnitine Market, by Product
        • 9.1.5.1.3 US: L Carnitine Market, by Application
      • 9.1.5.2 Canada: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
        • 9.1.5.2.1 Canada: L Carnitine Market, by Process
        • 9.1.5.2.2 Canada: L Carnitine Market, by Product
        • 9.1.5.2.3 Canada: L Carnitine Market, by Application
      • 9.1.5.3 Mexico: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
        • 9.1.5.3.1 Mexico: L Carnitine Market, by Process
        • 9.1.5.3.2 Mexico: L Carnitine Market, by Product
        • 9.1.5.3.3 Mexico: L Carnitine Market, by Application

10. Overview- Impact of COVID-19 outbreak

11. Impact of COVID-19 Pandemic on North America L-Carnitine Market

  • 11.1 North America: Impact Assessment of COVID-19 Pandemic

12. Company Profiles

  • 12.1 Cayman Chemical
    • 12.1.1 Key Facts
    • 12.1.2 Business Description
      • 12.1.2.1 Products and Services
    • 12.1.3 Financial Overview
    • 12.1.4 SWOT Analysis
  • 12.2 MERCK KGaA
    • 12.2.1 Key Facts
    • 12.2.2 Business Description
    • 12.2.3 Products and Services
    • 12.2.4 Financial Overview
    • 12.2.5 SWOT Analysis
    • 12.2.6 Key Developments
  • 12.3 Maxsun Industries Incorporated
    • 12.3.1 Key Facts
    • 12.3.2 Business Description
    • 12.3.3 Products and Services
    • 12.3.4 Financial Overview
    • 12.3.5 SWOT Analysis
  • 12.4 Lonza Group Ltd
    • 12.4.1 Key Facts
    • 12.4.2 Business Description
      • 12.4.2.1 Products and Services
    • 12.4.3 Financial Overview
    • 12.4.4 SWOT Analysis
    • 12.4.5 Key Developments
  • 12.5 Northeast Pharmaceutical Group Co., Ltd
    • 12.5.1 Key Facts
    • 12.5.2 Business Description
    • 12.5.3 Products and Services
    • 12.5.4 Financial Overview
    • 12.5.5 SWOT Analysis

13. Appendix

  • 13.1 About The Insight Partners
  • 13.2 Glossary

LIST OF TABLES

  • Table 1. North America L Carnitine Market, by Process- Revenue and Forecast to 2027 (USD Mn)
  • Table 2. North America L Carnitine Market, by Product- Revenue and Forecast to 2027 (USD Mn)
  • Table 3. North America L Carnitine Market, by Application - Revenue and Forecast to 2027 (USD Mn)
  • Table 4. US L Carnitine Market, by Process - Revenue and Forecast to 2027 (USD Mn)
  • Table 5. US L Carnitine Market, by Product- Revenue and Forecast to 2027 (USD Mn)
  • Table 6. US L Carnitine Market, by Application- Revenue and Forecast to 2027 (USD Mn)
  • Table 7. Canada L Carnitine Market, by Process- Revenue and Forecast to 2027 (USD Mn)
  • Table 8. Canada L Carnitine Market, by Product - Revenue and Forecast to 2027 (USD Mn)
  • Table 9. Canada L Carnitine Market, by Application - Revenue and Forecast to 2027 (USD Mn)
  • Table 10. Mexico L Carnitine Market, by Process- Revenue and Forecast to 2027 (USD Mn)
  • Table 11. Mexico L Carnitine Market, by Process - Revenue and Forecast to 2027 (USD Mn)
  • Table 12. Mexico L Carnitine Market, by Application - Revenue and Forecast to 2027 (USD Mn)
  • Table 13. Glossary of Terms, North America L-Carnitine Market

LIST OF FIGURES

  • Figure 1. North America L-Carnitine Market Segmentations
  • Figure 2. North America L-Carnitine Market Segmentation - By Country
  • Figure 3. North America L-Carnitine Market Overview
  • Figure 4. Market Food Segment Held Larger Share of L-Carnitine Market in 2018
  • Figure 5. US Dominated the North America L-Carnitine Market In 2018
  • Figure 6. North America L-Carnitine Market, Industry Landscape
  • Figure 7. North America- PEST Analysis
  • Figure 8. Expert Opinion
  • Figure 9. North America L-Carnitine Market Impact Analysis of Driver and Restraints
  • Figure 10. North America L-Carnitine Market Breakdown By Product, Value, 2018 & 2027 (%)
  • Figure 11. North America L-Carnitine Market in Food Segment: Revenue and Forecasts to 2027
  • Figure 12. North America L-Carnitine Market in Pharmaceutical Grade Segment: Revenue and Forecasts To 2027 (US$ Mn)
  • Figure 13. North America L-Carnitine Market in Feed Grade Segment: Revenue and Forecasts To 2027 (US$ Mn)
  • Figure 14. North America L-Carnitine Market Breakdown By Application, Value, 2018 & 2027 (%)
  • Figure 15. North America L-Carnitine Market in Animal Feed Segment: Revenue and Forecasts To 2027 (US$ Mn)
  • Figure 16. North America L-Carnitine Market in Healthcare Products Segment: Revenue and Forecasts To 2027 (US$ Mn)
  • Figure 17. North America L-Carnitine Market in Functional Drinks Segment: Revenue and Forecast to 2027 (US$ Mn)
  • Figure 18. North America L-Carnitine Market in Medicines Segment: Revenue and Forecast to 2027 (US$ Mn)
  • Figure 19. L-Carnitine Breakdown, by Process, 2018 & 2027 (%)
  • Figure 20. North America L-Carnitine Market in Chemical Synthesis Segment: Revenue and Forecast to 2027 (US$ Mn)
  • Figure 21. North America L-Carnitine Market in Bioprocess Segment: Revenue and Forecast to 2027 (US$ Mn)
  • Figure 22. North America: L Carnitine Market - Revenue and Forecast to 2027 (US$ Mn)
  • Figure 23. North America: L Carnitine Market Revenue Share, by Process (2018 and 2027)
  • Figure 24. North America: L Carnitine Market Revenue Share, by Product (2018 and 2027)
  • Figure 25. North America: L Carnitine Market Revenue Share, by Application (2018 and 2027)
  • Figure 26. North America: L Carnitine Market Revenue Share, by Key Country (2018 and 2027)
  • Figure 27. US: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
  • Figure 28. Canada: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
  • Figure 29. Mexico: L Carnitine Market -Revenue and Forecast to 2027 (US$ Mn)
  • Figure 30. Impact of COVID-19 Pandemic in North American Country Markets
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