L-carnitine Market To Witness A Significant Growth Of USD 298.7 Billion By 2030


 San Francisco, 1 June 2023: The Report L-carnitine Market Size, Share & Trends Analysis Report By Process (Bioprocess, Chemical Synthesis), By Product (Food & Medicines Grade, Feed Grade), By Application, By Region, And Segment Forecasts, 2023 - 2030

The global L-carnitine market size is expected to reach USD 298.7 billion by 2030, expanding at a CAGR of 4.9% from 2023 to 2030, 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 expected to drive the market during 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.

Manufacturers are focused on R&D activities to reduce the complexity in manufacturing techniques as well as product differentiation. Major manufacturers like Lonza, Ajinomoto, Sigma Tau Group, and Seikatsu have patented their manufacturing processes. Production of L-carnitine by chemical synthesis is executed on an industrial scale. However, manufacturers prefer bioprocess for the production, as the process generates higher yield and lesser waste as compared to chemical synthesis.

Companies engaged in the production and export of L-carnitine follow stringent standards such as current goods manufacturing procedure (CGMP), sanitary standard operation procedure (SSOP), and ISO standards. Companies offering food-grade products are required to obtain kosher and halal certifications.

In 2022, North America emerged as the largest regional market. The growth in this region can be attributed to increasing research and development activities in pharmaceutical and nutraceutical industries. Furthermore, increasing demand for the pet supplements and animal feed formulations is expected to drive industry growth during the forecast period. 

Access Research Report of L-carnitine Market @ https://www.grandviewresearch.com/industry-analysis/l-carnitine-market

L-carnitine Market Report Highlights

  • Increasing preventive healthcare in major economies across the globe, including the U.S., China, and India, has led to rising consumption of functional drinks, which in turn, is expected to propel the product demand
  • The market exhibits production of L-carnitine through biotechnological techniques using micro-organisms or enzymes. These processes use achiral precursors or racemic mixtures as raw materials for extraction of L-carnitine and offer the highest yield as compared to other means
  • Increasing demand for animal feed from emerging economies such as China, India, and Vietnam are expected to drive the feed grade product segment during the forecast period
  • Manufacturers in the market enter into contracts with the suppliers and buyers, thereby gaining a competitive edge in the market. They have also been investing heavily in R&D and capacity expansions to increase their market share

List of the key players in global L-carnitine Market

  • Lonza
  • Northeast Medicines Group Co., Ltd. (NEPG)
  • Biosint S.p.A.
  • Cayman Chemical
  • Merck KGaA
  • Tokyo Chemical Industry Co., Ltd.
  • Ceva
  • Kaiyuan Hengtai Nutrition Co., Ltd.
  • ChengDa Mediciness Co., Ltd.
  • Huanggang Huayang Medicines Co. Ltd.
  • HuBeiYuancheng Saichuang Technology Co, .Ltd.

Access Press Release of L-carnitine Market @ https://www.grandviewresearch.com/press-release/global-l-carnitine-market

 

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