The global carnitine supplements market size was valued at $194.5 million in 2021, and is estimated to reach $316.5 million by 2031, registering a CAGR of 5.1% from 2022 to 2031.
Carnitine is an amino acid and carnitine supplements provides the essential and necessary amino acids that helps the consumers to burn fatty acids and help in weight management and other functions. Carnitine supplements market is expected to witness a significant growth during the forecast period on account of rising prevalence of obesity, excess weight gain, overweight, diabetes, and cardiovascular diseases. The rising growing awareness regarding the health benefits and availability of carnitine supplements among the consumers is expected to drive the growth of the global carnitine supplements market. The consumption of packaged and processed food has been constantly rising across developed and developing economies. This is resulting in obesity and weight gain and overweight at an alarming rate across the globe. The growing inclination of consumers towards healthy food is boosting the adoption of carnitine supplements. Moreover, the rising demand for carnitine supplements among the women population is significantly driving market growth across the globe.
Furthermore, a surge in the mortality rate in children under 5 years of age in developing nations is expected to boost the demand for carnitine supplements for infant nutrition. Apart from these, carnitine supplements are also used for various applications such as weight management, sports nutrition, pregnancy, and male fertility, which are expected to foster the growth of the market during the forecast period.
The presence of the young population in developing economies coupled with rising disposable income and their growing inclination towards sports and fitness activities are estimated to impact the growth of the carnitine supplements market significantly and positively in the near future. The desire to look healthy and presentable, rising popularity of body builders among the youngsters through social media, and rising increasing expenditure on fitness products are fueling the sales of carnitine supplements. The rising participation of individuals in sports is further fueling the demand for carnitine supplements as sports nutrition.
According to the carnitine supplements market analysis, the market is segmented on the basis of flavor, form, end user, distribution channel, and region. On the basis of flavor, the market is categorized into berry, lemon/citrus, cherry, mango, pineapple, and others. By form, it is segmented into capsule, liquid, powder, tablet, and others. Depending on the end user, the market is categorized into men, women, and children. By distribution channel, the market is divided into offline and online. The offline distribution channel is further categorized into supermarkets and hypermarkets, specialty stores, pharmacy, and others. Region- wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
Allmax Nutrition, Inc., aSquared Nutrition, Advanced Orthomolecular Research (AOR), Glanbia PLC, Now Foods, GNC Holdings, Sports Supplements Ltd., Scorpion Supplements, 1 Up Nutrition, Designs For Health, Lonza Group, eSupplements LLC., Eat Me Supplements, Northeast Pharmaceutical Group Co., Ltd., and Ceva Sante Animale are the major companies profiled in the carnitine supplements market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing carnitine supplements market.
Carnitine is an amino acid and carnitine supplements provides the essential and necessary amino acids that helps the consumers to burn fatty acids and help in weight management and other functions. Carnitine supplements market is expected to witness a significant growth during the forecast period on account of rising prevalence of obesity, excess weight gain, overweight, diabetes, and cardiovascular diseases. The rising growing awareness regarding the health benefits and availability of carnitine supplements among the consumers is expected to drive the growth of the global carnitine supplements market. The consumption of packaged and processed food has been constantly rising across developed and developing economies. This is resulting in obesity and weight gain and overweight at an alarming rate across the globe. The growing inclination of consumers towards healthy food is boosting the adoption of carnitine supplements. Moreover, the rising demand for carnitine supplements among the women population is significantly driving market growth across the globe.
Furthermore, a surge in the mortality rate in children under 5 years of age in developing nations is expected to boost the demand for carnitine supplements for infant nutrition. Apart from these, carnitine supplements are also used for various applications such as weight management, sports nutrition, pregnancy, and male fertility, which are expected to foster the growth of the market during the forecast period.
The presence of the young population in developing economies coupled with rising disposable income and their growing inclination towards sports and fitness activities are estimated to impact the growth of the carnitine supplements market significantly and positively in the near future. The desire to look healthy and presentable, rising popularity of body builders among the youngsters through social media, and rising increasing expenditure on fitness products are fueling the sales of carnitine supplements. The rising participation of individuals in sports is further fueling the demand for carnitine supplements as sports nutrition.
According to the carnitine supplements market analysis, the market is segmented on the basis of flavor, form, end user, distribution channel, and region. On the basis of flavor, the market is categorized into berry, lemon/citrus, cherry, mango, pineapple, and others. By form, it is segmented into capsule, liquid, powder, tablet, and others. Depending on the end user, the market is categorized into men, women, and children. By distribution channel, the market is divided into offline and online. The offline distribution channel is further categorized into supermarkets and hypermarkets, specialty stores, pharmacy, and others. Region- wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
Allmax Nutrition, Inc., aSquared Nutrition, Advanced Orthomolecular Research (AOR), Glanbia PLC, Now Foods, GNC Holdings, Sports Supplements Ltd., Scorpion Supplements, 1 Up Nutrition, Designs For Health, Lonza Group, eSupplements LLC., Eat Me Supplements, Northeast Pharmaceutical Group Co., Ltd., and Ceva Sante Animale are the major companies profiled in the carnitine supplements market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing carnitine supplements market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carnitine supplements market analysis from 2021 to 2031 to identify the prevailing carnitine supplements market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the carnitine supplements market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global carnitine supplements market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Flavor
- Berry
- Lemon/Citrus
- Cherry
- Mango
- Pineapple
- Others
By Form
- Capsule
- Liquid
- Powder
- Tablet
- Others
By End User
- Men
- Women
- Children
By Distribution Channel
- Offline
- Sub Type
- Supermarkets and hypermarkets
- Specialty Stores
- Pharmacy
- Others
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Colombia
- Saudi Arabia
- United Arab Emirates
- South Africa
- Argentina
- Rest of LAMEA
Key Market Players
- Lonza
- Northeast Pharmaceutical Group Co., Ltd.
- Healthline Media, Inc.
- Glanbia PLC
- now foods
- Ceva Sante Animale
- Eat Me Supplements
- eSupplements
- 1 Up Nutrition
- Designs for Health, Inc.
- Scorpion Supplements
- GNC Holdings, LLC
- aSquared Brands, LLC
- Allmax Nutrition, Inc.
- Advanced Orthomolecular Research
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CARNITINE SUPPLEMENTS MARKET, BY FLAVOR
CHAPTER 5: CARNITINE SUPPLEMENTS MARKET, BY FORM
CHAPTER 6: CARNITINE SUPPLEMENTS MARKET, BY END USER
CHAPTER 7: CARNITINE SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: CARNITINE SUPPLEMENTS MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Carnitine Supplements Market," The carnitine supplements market was valued at $194.50 million in 2021, and is estimated to reach $316.5 million by 2031, growing at a CAGR of 5.1% from 2022 to 2031.Carnitine supplements are well-known for converting fatty acids into energy in most mammals. The rising application of carnitine supplements in weight management is a major factor behind its surging demand across the globe. Carnitine supplements burn fat faster, produce energy, and improve metabolism. The rise in the prevalence of obesity and overweight in developed and developing economies is driving the demand for carnitine supplements. According to an article by World Health Organization (WHO) in June 2021, “Obesity has reached epidemic proportions globally, with at least 2.8 million people dying each year as a result of being overweight or obese. Once associated with high-income countries, obesity is now also prevalent in low- and middle-income countries.”
Furthermore, the growing usage of carnitine supplements in various applications such as sports nutrition, male fertility, infant nutrition, and pregnancy is bolstering the growth of the global carnitine supplements market. Rise in awareness regarding the health benefits of carnitine supplements among the men and women population is expected to boost the demand for the carnitine supplement in the near future. The presence of a huge youth population in developing nations, coupled with a rise in disposable income and increasing expenditure on improving physical aesthetics is driving the growth of the carnitine supplements market. Women population is more concerned about their physical appearances and usually spends more on improving their physical looks and aesthetics. The rising obesity among women and growing expenditure on a healthy diet has led to a rapid growth of the women segment in the global carnitine supplements market.
According to the U.S. National Library of Medicine, around 14.3 million children under the age of 5 years were severely malnourished in 2021. About two-thirds of them live in Asia. Malnutrition causes around 50% of the global deaths among children under 5 years of age. Therefore, the rising cases of malnutrition among children in the developing nations in Asia-Pacific are offering a lucrative growth opportunity to the carnitine supplement manufacturers.
The growth in the penetration of online sales channels is further expected to have a positive and exponential impact on the sales of carnitine supplements across the globe. The increasing number of internet users, rising adoption of smartphones, and growing adoption of online shopping platforms and e-pharmacy are the major factors that are expected to fuel the growth of the carnitine supplements market during the forecast period.
According to the carnitine supplements market analysis, the market is segmented on the basis of flavor, form, end user, distribution channel, and region. On the basis of flavor, the market is categorized into berry, lemon/citrus, cherry, mango, pineapple, and others. By form, it is segmented into capsule, liquid, powder, tablet, and others. Depending on the end user, the market is categorized into men, women, and children. By distribution channel, the market is divided into offline and online. The offline distribution channel is further categorized into supermarkets and hypermarkets, specialty stores, pharmacy, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
Allmax Nutrition, Inc., aSquared Nutrition, Advanced Orthomolecular Research (AOR), Glanbia PLC, Now Foods, GNC Holdings, Sports Supplements Ltd., Scorpion Supplements, 1 Up Nutrition, Designs For Health, Lonza Group, eSupplements LLC., Eat Me Supplements, Northeast Pharmaceutical Group Co., Ltd., and Ceva Sante Animale are the major companies profiled in the carnitine supplements market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing carnitine supplements market opportunities.
Key findings of the study
The carnitine supplements market was valued at $194.5 million in 2021, and is estimated to reach $316.5 million by 2031, growing at a CAGR of 5.1% during the forecast period.- By flavor, the cherry segment is estimated to witness the fastest growth, registering a CAGR of 5.9% during the forecast period.
- In 2021, depending on the form, the liquid segment was valued at $79.9 million, accounting for 41.1% of the global carnitine supplements market share.
- In 2021, the U.S. was the most prominent market in North America, and is projected to reach $80.7 million by 2031, growing at a CAGR of 4.3% during the forecast period.
Companies Mentioned
- Lonza
- Northeast Pharmaceutical Group Co., Ltd.
- Healthline Media, Inc.
- Glanbia PLC
- now foods
- Ceva Sante Animale
- Eat Me Supplements
- eSupplements
- 1 Up Nutrition
- Designs for Health, Inc.
- Scorpion Supplements
- GNC Holdings, LLC
- aSquared Brands, LLC
- Allmax Nutrition, Inc.
- Advanced Orthomolecular Research
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | December 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 194.5 million |
| Forecasted Market Value ( USD | $ 316.5 million |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
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