Global CoQ10 market size was 687.2 tons in 2014 and is expected to reach 1,168 tons by 2020, growing at a CAGR of 9.2% from 2014 to 2020, according to a new study by Radiant Insights, Inc. Increasing scope in personal care applications is expected to drive CoQ10 market demand.
Recent penetration surge in pharmaceutical applications is also likely to be a critical factor for demand development over the forecast period. Dietary supplements dominated consumption, accounting for over 60% in 2014, driven by high sales of energy supplements and antioxidants. Growing CVD prevalence along with proven CoQ10 benefits of reducing CVD risk is expected to drive growth in pharma applications.
The report "Coenzyme Q10 (CoQ10) Market By Application (Food & Beverages, Cosmetics, Dietary Supplements) And Forecasts, 2012 - 2020" is available now to Radiant Insights customers and can also be purchased directly at:
http://www.radiantinsights.com/research/coenzyme-q10-coq10-market
Key report insights suggest:
• Global CoQ10 market revenue was estimated at USD 300 million in 2014 and likely to reach USD 849.5 million by 2020, growing at just under 19% from 2014 to 2020.
• Demand for cosmetic applications is expected to reach USD 120.9 million by 2020, witnessing gains at over 19%.
• North America CoQ10 market is expected to be driven by increasing use of sun-screen lotions and anti-aging creams, with revenue estimated to reach USD 489.9 million by 2020. However, the U.S. FDA has not approved its use in pharmaceutical products, which may hinder industry growth in the region.
• Asia Pacific CoQ10 market revenue is expected to reach USD 243.4 million by 2020, and is likely to be the fastest growing regional industry over the forecast period. Rising awareness levels coupled with strong demand from applications markets is expected to drive regional growth.
• Global CoQ10 prices have witnessed a decline over the last five years, on account of domestic producers coming online. However, the industry is likely to see a price increase over the forecast period due to supply issues and regulatory intervention.
• Key CoQ10 manufacturers include Kaneka, ZMC, PharmaEssentia, DSM, Gnosis, Asahi Kasei, and Nisshin Seifun.
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Global CoQ10 Application Overview (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Dietary Supplements
• Pharmaceuticals
• Cosmetics
• Others
Global CoQ10 Regional Overview (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
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