Global Coenzyme Q10 Market to Expand at 9.0% CAGR from 2015-2020
Deerfield Beach, FL -- (SBWIRE) -- 08/02/2017 -- Zion Market Research has published a new report titled "Coenzyme Q10 Market for Dietary Supplements, Pharmaceuticals, Cosmetics and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020." According to the report, global demand for Coenzyme Q10 market was valued at USD 250.0 million in 2014 and is expected to reach USD 850.0 million in 2020, growing at a CAGR of above 9.0% between 2015 and 2020. In terms of volume, the global coenzyme Q10 market stood at 745.0-kilo tons in 2014.
Coenzyme Q10 is also referred as Ubiquinone, ubidecarenone, coenzyme Q. It is a vitamin like substance which fulfills energy (ATP) requirement of different organs such as liver, heart, and kidney. It is soluble in oil and present in most eukaryotic cells such as mitochondria. It is a part of electron transport chain that involves in aerobic cellular respiration and creates energy in the form of ATP. Commercially it is produced using yeast fermentation and bacterial fermentation methods. It is widely used in numerous applications as an antioxidant.
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Growing cosmetics industry across the globe is a major driving factor of the coenzyme Q10 market. Cosmetic products such as sunscreen lotions and anti-aging creams are expected to drive the global demand for CoQ10 over the forecast period. Additionally, rising usage of CoQ10 in medical applications like a heart-related disease, eye care, cancer treatment, obesity problem and Huntington's disease are expected to fuel the growth of the CoQ10 industry. Changing lifestyle and demand for the nutritional product are also expected to trigger CoQ10 market across the world. However, controversies about uses of CoQ10 in the medical application are expected to hold back the growth of the CoQ10 industry to some extent.
Dietary supplement was the leading application segment for CoQ10 and accounted for over 55% share of total market volume in 2014. Growing health awareness is expected to trigger the demand for antioxidants and energy supplements. This, in turn, is expected to drive the demand for coenzyme Q10 over the forecast period. The pharmaceutical industry is projected to be the most lucrative application segment and expected to exhibit rapid CAGR of around 9.5% during the years to come. Demand for pharmaceutical applications is mainly driven by increasing prevalence of cardiovascular diseases.
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North America was the leading regional market for coenzyme Q10 and accounted over 50% share of the overall volume consumption in 2014. This growth owes to strong demand from U.S. North America was followed by Europe with a second largest market share in global coenzyme Q10 market in 2014. Moreover, Asia Pacific is expected to grow at a rapid pace owing strong demand from China and India.
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Some of the key player for globe coenzyme Q10 market includes Mitsubishi Gas Chemical Company, Kaneka Corporation, Gnosis S.p.A., Hwail Pharmaceutical Co. Ltd., Kyowa Hakko U.S.A. Inc., DSM Nutritional Products, PharmaEssentia Corporation, ZMC-USA LLC, Kingdomway and Nisshin Seifun Group Inc.
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