Ketones Global Market Report 2024

The ketones market size has grown strongly in recent years. It will grow from $531.09 billion in 2023 to $569.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed in the historical period can be attributed to several factors, including the industrial applications of solvents, the expansion of the pharmaceutical and cosmetic industries, the growth of the paints and coatings sector, the adoption of these substances in adhesives and sealants, and advancements in the development of specialty chemicals.

The ketones market size is expected to see strong growth in the next few years. It will grow to $772.88 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be linked to various factors, including a shift towards bio-based ketones, an increased demand for high-performance polymers, a growing emphasis on green chemistry, a rising demand for low-VOC coatings, and the sustained growth of the electronics industry. Noteworthy trends expected in the forecast period encompass technological innovations in synthesis processes, advancements in biomedical and therapeutic research, innovations in ketone supplements, the trend towards ketogenic diets, and increased collaborations and development initiatives.

The growth of the Ketones market is significantly fueled by the increasing demand for processed beverages and foods. Processed foods undergo alterations during preparation to enhance their flavor and extend shelf life. Ketones are incorporated into various food and beverage items such as energy drinks, supplements, or energy bars to boost nutritional content. This is particularly popular among professional athletes and fitness enthusiasts engaging in intense workouts, seeking ways to enhance energy and performance, and manage blood sugar levels by reducing the glycemic response. Notably, Europe emerged as the largest market for processed fruit and vegetables globally, representing 45% of global imports in 2020, according to the Center for the Promotion of Imports (CBI).

The Ketones market is experiencing growth due to the expanding reach of e-commerce and online retailing. The convenience of online shopping allows consumers to easily explore and purchase ketones from the comfort of their homes. The availability of diverse product selections, customer reviews, and educational content on e-commerce platforms contributes to informed decision-making. The first quarter of 2021 witnessed a substantial 39.0% increase in US e-commerce sales compared to the same period in 2020, according to the United States Department of Commerce, further emphasizing the impact of online retail on the ketones market.

A key trend driving the Ketones market is product innovations, with major companies focusing on research and development to introduce new and improved products. For instance, EKF Diagnostics, a UK-based healthcare company, introduced the Stat-Site WB handheld analyzer in March 2021. This dual-purpose portable analyzer measures beta-ketones and glucose, providing rapid results without the use of reagents. This innovation supports comprehensive management of diabetic patients by offering quick testing for both ketones and glucose.

Major players in the ketones market are striving for a competitive edge through the development of new drinkable ketones. Drinkable ketones refer to beverages or supplements containing exogenous ketones produced outside the body. Health Via Modern Nutrition, a US-based nutrition company, launched Ketone-IQ in January 2022. Positioned as the next generation of drinkable ketones, Ketone-IQ aims to enhance metabolic states, providing benefits such as sustained energy, improved endurance, mental clarity, and appetite control for a broader consumer base, including high-performing athletes, military personnel, and health-conscious individuals.

In August 2021, Brenntag SE, a Germany-based provider of chemicals and ingredients, acquired Matrix Chemical LLC, a US-based chemicals company, for an undisclosed amount. This strategic acquisition strengthens Brenntag SE's logistics network for acetone and solvents in North America, enabling the company to capitalize on market opportunities and efficiently supply a diverse range of core goods to its clients. Matrix Chemical LLC has been instrumental in assisting major companies in meeting their chemical requirements.

Major companies operating in the ketones market report are Zhou Nutrition LLC, Pruvit Ventures Inc., Perfect Keto LLC, KetoneAid Inc., Ketologic LLC, Keto and Company, Ancient Nutrition, HVMN Inc., Compound Solutions Inc., Finaflex, Sapien Body Llc., BPI Sports LLC, Know Brainer Foods LLC, Boli Naturals, Nutrex Research, Zenwise LLC, Ketond Nutrition LLC, Bio Brands LLC, Caldic B.V., Pure Encapsulations LLC, Eastman Chemical Company, Fitz Chem LLC, Genomatica Inc., Green Biologics Limited, Ketone Nutrition NNC, Ketond LLC, Merck KGaA, Novomer Inc., Oxidative Stress Inc., Perstorp Holding AB, PhosphonicS Ltd., Propanc Health Group Corporation.

Asia-Pacific was the largest region in the ketones market in 2023. The regions covered in the ketones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ketones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary classifications of ketones encompass ketone salts, ketone esters, ketone oil, and raspberry ketone. Ketone salts are exogenous ketone bodies bound to minerals such as calcium, sodium, or magnesium, used as dietary supplements to promote weight loss by encouraging the body to utilize fats for energy. Ketones are available in major forms such as liquid, solid, and semi-liquid, distributed through both direct and indirect channels. They find application in diverse sectors such as cosmetics and personal care, food and beverages, dietary supplements, among others.

The ketones market research report is one of a series of new reports that provides ketones market statistics, including ketones industry global market size, regional shares, competitors with a ketones market share, detailed ketones market segments, market trends and opportunities, and any further data you may need to thrive in the ketones industry. This ketones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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