L-carnitine Industry Overview
The global L-carnitine market size is expected to reach USD 276.0 million by 2028, expanding at a CAGR of 5.1%, as per a new report by Grand View Research Inc. Growing consumer awareness regarding product benefits, along with increasing demand from end-use industries such as pharmaceutical, nutraceutical, and animal feed, is projected to drive the market over the forecast period.
L-carnitine and its derivatives are used for numerous applications including male infertility, kidney treatment, cardiovascular diseases, weight reduction, and bone mass. It is also used in various products including animal feed, health supplements, functional drinks, medicines, and other nutraceutical products.
L-carnitine Market Segmentation
Grand View Research has segmented the global L-Carnitine market on the basis of process, product, application, and region:
Based on the Process Insights, the market is segmented into Chemical Synthesis and Bioprocess.
- The bioprocess segment led the market and accounted for the largest revenue share of over 76.0% in 2020.
- The chemical synthesis process is slowly gaining momentum owing to its ability to produce L-carnitine on an industrial scale.
Based on the Application Insights, the market is segmented into Animal Feed, Healthcare Products, Functional Food & Beverages, and Medicines.
- The healthcare products dominated the market and accounted for the largest revenue share of more than 34.0% in 2020.
- With the growing consumption of dietary supplements due to the rising prevalence of obesity, increasing consumer awareness regarding personal health and wellbeing, changing lifestyle, and growing spending capacity, the dietary supplement market is expected to reach USD 272.4 billion by 2028.
Based on the Product Insights, the market is segmented into Food & Pharma Grade, and Feed Grade.
- The food and pharmaceutical grade segment dominated the market and accounted for the largest revenue share of more than 78.0% in 2020.
- Feed grade L-carnitine is widely used as a key ingredient in animal pharmaceuticals and animal feed.
- Feed grade is essentially used in pet health supplements for risks related to heart disease, especially used in the cases of dilated cardiomyopathy.
L-carnitine Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies & Market Share Insights
The companies are working on their branding strategies in order to appeal to the target audience respective to the specific applications. The market is highly competitive in nature. The major companies in the market compete with not only other international companies but also with local players at the regional level. The industry is highly concentrated with a handful number of players controlling the large market share. The market exhibits the presence of numerous smaller players providing customized products to end-users.
Some of the prominent players in the L-carnitine market include:
- Lonza
- Northeast Pharmaceutical Group Co., Ltd. (NEPG)
- Biosint S.p.A.
- Cayman Chemical
- Merck KGaA
- Tokyo Chemical Industry Co., Ltd.
- Ceva
- Kaiyuan Hengtai Nutrition Co., Ltd.
- ChengDa PharmaCeuticals Co., Ltd.
- Huanggang Huayang Pharmaceutical Co. Ltd.
- HuBeiYuancheng SaichuangTechnology Co, .Ltd.
Order a free sample PDF of the L-carnitine Market Intelligence Study, published by Grand View Research.
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