Global L-carnitine Market

Global L-carnitine Market Size, Share, Growth Analysis, By Process(Bioprocess, Chemical Synthesis), By Product(Food & Pharmaceutical Grade, Feed Grade) - Industry Forecast 2023-2030

Report ID: SQSG15E2025 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 61 | Figures: 75

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L-carnitine Market size was valued at USD 193.9 million in 2021 and is poised to grow from USD 203.4 million in 2022 to USD 312.85 million by 2030, growing at a CAGR of 4.9% in the forecast period (2023-2030).

The L-carnitine market is relatively fragmented, with a high level of competition. A few large players, like Lonza Group, Northeast Pharmaceutical Group Co., Ltd. (NEPG), and Tokyo Chemical Industry Co., Ltd., 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. 'Lonza Group', 'Northeast Pharmaceutical Group Co., Ltd.', 'Merck KGaA', 'Acetyltech Pty Ltd.', 'Ajinomoto Co., Inc.', 'Sigma-Aldrich Co. LLC (a subsidiary of Merck KGaA)', 'Arkema Group', 'Huanggang HuaYang Pharmaceutical Co., Ltd.', 'Hangzhou Hyper Chemicals Limited', 'ChengDa PharmaCeuticals Co., Ltd.', 'Shanghai Fuxin Fine Chemical Co., Ltd.', 'Shenyang Koncepnutra Co., Ltd.', 'Shandong Mingxing Chemical Co., Ltd.', 'GNC Holdings, Inc.', 'GBT GmbH', 'Musashi Seimitsu Industry Co., Ltd.', 'Shenzhen Changhong Technology Co., Ltd.', 'Stepan Company', 'Tonghe Pharmaceutical Co., Ltd.', 'Nippon Meat Packers, Inc.'

Growing knowledge of L-carnitine benefits such as improved muscle healing, reduced muscular soreness, and muscle gain, resulting in increased product demand for various application industries, which is likely to fuel market expansion. Over the projected period, the market is likely to be driven by the rising use of L-carnitine supplementation for post-exercise recovery, weight management, and healthy aging.

The industry has seen an increase in mergers, which is projected to continue during the forecast period. Increased mergers in the sector are expected to strengthen competitiveness among high-value firms. The industry is likely to see a rise in new market entrants, which will drive competitiveness.

In 2021, in terms of revenue, North America accounted for more than 37% of the global L-carnitine market, with a dominating market share. The growing food and beverage industry and awareness of its benefits for health and fitness are the major factors for the L-carnitine market's growth in the region. L-carnitine supplements are also utilized in the treatment of obesity for weight management. Mexico and the United States have the world's most obese populations, which has led to a surge in the use of weight-loss supplements. This is projected to fuel the North American region’s demand for L-carnitine and is a major reason for the market's growth.

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