The global ubiquinone market generated $473.6 million in 2020, and is expected to reach $752.1 million by 2030, witnessing a CAGR of 4.8% from 2021 to 2030.
The report offers a detailed analysis of changing market dynamics, key investment pockets, top segments, value chain, regional scenario, and competitive landscape.
Increase in adoption of ubiquinone in the nutraceuticals industry and surge in usage in cosmetic and food industries drive the growth of the global ubiquinone market. However, lack of consumer awareness about ubiquinone as a dietary supplement and availability of counterfeit products restrain the market growth. On the other hand, rise in utilization in the pharmaceutical industry and emergence of online retail platforms present new opportunities in the coming years.
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Leading players of the global ubiquinone market analyzed in the research include Hangzhou Jinlan Pharm-Drugs Technology Co., Ltd., Kyowa Hakko Bio Co., Ltd., Kaneka Corporation, Shandong Octagon Chemicals Limited, Oriental Yeast Co., Ltd., Sinoway Industrial Co., Ltd., Shenzhou Biology & Technology Co., Ltd., Tokiwa Phytochemical Co., Ltd., Spectrum Chemical Manufacturing Corp., and Xiamen Kingdomway Group Company.
Covid-19 Scenario:
- During the Covid-19 pandemic, people adopted healthier lifestyles than before to boost immunity. The nutraceutical industry reaped a lot of benefits as customers changed their dietary habits. This, in turn, boosted the demand for ubiquinone from the nutraceutical industry.
- There have been disruptions in the supply chain due to lockdown imposed in many countries. However, the supply chain is expected to get back on track during the post-lockdown.
The report offers detailed segmentation of the global ubiquinone market based on production method, application, and region.
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Based on production method, the microbial fermentation segment held the highest share in 2020, accounting for nearly three-fifths of the total share, and is estimated to continue its leadership status during the forecast period. However, the chemical synthesis segment is projected to witness the highest CAGR of 5.1% from 2021 to 2030.
Based on application, the dietary supplements segment contributed to the largest share in 2020, holding more than two-fifths of the global ubiquinone market, and is estimated to maintain its dominance in terms of revenue during the forecast period. However, the pharmaceuticals segment is projected to register the fastest CAGR of 6.0% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, holding nearly two-fifths of the total share, and is expected to continue its lead position in terms of revenue by 2030. However, Asia-Pacific is expected to manifest the largest CAGR of 7.1% during the forecast period.
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