USD 536.63 million
Global CoQ10 Supplement Market Size, Share, Growth Analysis, By Type(Soft Capsule, Chewable Tablets), By Application(Pharmaceuticals, Dietary Supplements) - Industry Forecast 2024-2031
Report ID:
SQSG30A2001 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|
Tables:
62 |
Figures:
75
Global CoQ10 Supplement Market Insights
CoQ10 Supplement Market size was valued at USD 536.63 million in 2019 and is poised to grow from USD 621.95 million in 2023 to USD 1156.48 million by 2031, growing at a CAGR of 10.5% in the forecast period (2024-2031).
Increasing cases of heart diseases, diabetes, and lung diseases in various developing and developed countries due to unhealthy lifestyles and food habits have increased the demand for healthy food and ingredients across the world, which is driving the demand for coenzyme Q10 in recent times.
The benefits offered by Coenzyme Q10 are its use for conditions that affect the heart 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 for preventing migraine headaches, Parkinson’s disease, and many other conditions. A report by World Health Organization (WHO), predicts that the number of cancer patients would increase considerably by the year 2030 which will boost the demand for CoQ10 during the forecast period.
US CoQ10 Supplement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
dietary supplements
Fastest Growth
dietary supplements
Growth Rate
10.5% CAGR
Global CoQ10 Supplement Market 2022-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global CoQ10 Supplement Market Size by Application, 2022-2028 ($ Mn)
Global CoQ10 Supplement Market Size by Application, 2022-2028 (%)
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Global CoQ10 Supplement Market Segmental Analysis
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.
CoQ10 Supplement Market Analysis by Application
The global coenzyme Q10 market is segmented into pharmaceuticals, dietary supplements, and cosmetics. The dietary supplements segment accounts for the largest market share for the CoQ10 market in the year 2021 and the Pharmaceuticals sector is expected to register the fastest growth of over 10.5% CAGR during the forecast period of the report. Advanced product innovation that includes antioxidant and energy generation properties are major factors driving the dietary supplements segment. Many products such as health drinks, pharmaceutical tablets, and dietary supplements are launched recently by many companies to acquire a customer in different segments which will propel the global coenzyme Q10 market growth during the analysis period.
Global CoQ10 Supplement Market By Application, 2021 (%), 2023 (%)
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Global CoQ10 Supplement Market Regional Insights
In 2021, North America held the largest global CoQ10 market share. Cosmetic products enriched with coenzyme Q10 give various skin benefits, including providing energy to skin cells, which is essential to repair and renew skin cells, reducing sun damage, and supporting the formation of elastin and collagen. Therefore, growing awareness of the benefits of CoQ10 among cosmetic makers in the United States and Canada has boosted demand for the CoQ10 market in the region in recent years.
The Asia Pacific emerged as the fastest growing market for coenzyme Q10 in recent years and is predicted to grow at 10.9% CAGR over the forecast period. Increasing awareness regarding health and other benefits of the product and transitioning customer lifestyles, in developing economies such as India and China are driving the regional coq10 supplement market growth.
Global CoQ10 Supplement Market By Geography, 2022 - 2028, 2024-2031
- Largest
- Fastest
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Global CoQ10 Supplement Market Dynamics
CoQ10 Supplement Market Driver
- Increasing the use of CoQ10 in the areas of cognitive illness, eye care, cancer, and heart disease is the major driving factor for the CoQ10 supplement market. Growing awareness regarding the benefits of products is increasing eh acceptance of healthy dietary supplements and this will drive the CoQ10 supplement market during the forecast period.
- Busy lifestyles, intense work schedules, and less time available for cooking food, the working population is failing to meet their daily nutrient requirements. Due to this, consumers have moved their focus to dietary supplements to meet their daily nutrient requirements which will give a huge benefit to the supplement sector globally.
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Coenzyme Q10 offers several benefits to the skin including it provides energy to the skin cells which is required to repair and regenerate the skin cells, helps in sun damage, and supports the production of elastin & collagen. Thus, rising awareness about the benefits of coenzyme Q10 among the cosmetic manufacturers will drive the market in future.
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Increase in urbanization and development of countries will fuel the demand of COQ10 because of high awareness and large availability of the product.
CoQ10 Supplement Market Restraint
- Stringent norms and regulations regarding product usage in medical and dietary supplements are expected to restrain the global CoQ10 supplement market growth during the analysis period.
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Global CoQ10 Supplement Market Competitive Landscape
The CoQ10 supplement market is relatively fragmented, with a high level of competition. Few large players, like Kyowa Hakko USA Inc, Gnosis S.p.A., and Nature’s Bounty, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
CoQ10 Supplement Market Top Player’s Company Profiles
- Kaneka Corporation
- Now Foods
- H2One Co., Ltd.
- NBTY Inc.
- GNC Holdings Inc.
- Nature's Bounty, Inc.
- Healthy Directions, LLC
- Solgar Inc.
- Nutraceutical Corporation
- Pharma Nord APS
- Source Naturals Inc.
- Jarrow Formulas Inc.
- Life Extension
- Douglas Laboratories
- Tishcon Corp.
- Twinlab Consolidated Holdings Inc.
- Swanson Health Products
- Pure Encapsulations
- Garden of Life
- Thorne Research
CoQ10 Supplement Market Recent Developments
- In July 2022, in research conducted by the Journal of the International Society of Sports Nutrition involving 20 professional swimmers. It was found that a supplement comprising a mix of the bee product royal jelly and CoQ10 was connected to gains in athletic performance as well as reductions in markers of oxidative stress and muscle damage.
- In January 2022, DSM Nutritional Products unveiled its new integrated Food & Beverage operating structure, which unites three areas of DSM's nutrition business - Food Specialties, Hydrocolloids, and a portion of its Nutritional Products group - to better align with emerging customers and market needs. The new business group brings together the company's broad portfolio of food and beverage ingredients, knowledge, and science-based solutions that improve food flavor and texture while also supporting healthier lives and a healthier planet. The new Food & Beverage organization will be focused on assisting consumers in "enjoying it all" without having to pick between taste, texture, and health. This distinct message will serve as the foundation of a new campaign.
- In January 2021, Kaneka Corporation headquartered in Tokyo, has launched its Coenzyme Q10 yogurt named “Watashi no Chikara (My Energy) ™ - Q10 Yogurt” which will provide an adequate dietary intake of active CoQ10 which has numerous health benefits for consumers and are available in various supermarkets, convenience stores, and Kaneka’s online shop.
Global CoQ10 Supplement Key Market Trends
- Coenzyme Q10 is predominantly used in the dietary supplement industry due to the high demand for dietary supplements containing coenzyme Q10, which can be used as an effective treatment for a variety of heart conditions. Regulatory agencies such as the Food and Drug Administration have certified CoQ10 as a Generally Recognized as Safe (GRAS) food ingredient (FDA).
- Coenzyme Q10 increases the nutritional value of a food product. Apart from its usage as an energy booster in the human body, CoQ10 is also widely used in anti-aging beauty treatments, which is expected to drive coenzyme Q10 adoption and, as a result, propel global market growth.
- Increase in the chronic health conditions such as cardiovascular and cancer will fuel the market to a larger extent.It is observed that most individuals suffering from congestive heart failure have low CoQ10 levels in their bodies. The consumption of CoQ10 supplements in regular therapy helps in reducing the severity of the condition, as well as complications related to the condition.
Global CoQ10 Supplement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global CoQ10 Supplement Market analysis, with busy lifestyles, intense work schedules, and less time available for cooking food, the working population is failing to meet their daily nutrient requirements. Due to this, consumers have moved their focus to dietary supplements to meet their daily nutrient requirements which will give a huge benefit to the supplement sector globally.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 536.63 million |
| Market size value in 2031 | USD 1156.48 million |
| Growth Rate | 10.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global CoQ10 Supplement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global CoQ10 Supplement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global CoQ10 Supplement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global CoQ10 Supplement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global CoQ10 Supplement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global CoQ10 Supplement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global CoQ10 Supplement Market Report Snapshots
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