Press release
Global CoQ10 Supplement Market Size is expected to reach a value of US$ 1,148.93 Million by 2028
According to the latest research by SkyQuest Technology, the Global CoQ10 Supplement Market was valued at US$ 550.51 million in 2021, and it is expected to reach US$ 1,148.93 million by 2028, with a CAGR of 9.70% during the forecast period of 2022 - 2028. The research provides up-to-date CoQ10 Supplement market analysis of the current market landscape, latest trends, drivers, and overall market environment.Increasing cases of heart disease, diabetes, and lung disease in many emerging and established countries as a result of bad lifestyles and food habits have boosted the global demand for healthy food and nutrients, which has recently driven demand for coenzyme Q10. The advantages of CoQ10 include its use for cardiac diseases such as heart failure and fluid buildup in the body, chest pain (angina), and high blood pressure. It is also used to prevent migraines, Parkinson's disease, and a variety of other illnesses. According to a World Health Organization (WHO) report, the number of cancer patients is expected to rise significantly by 2030, increasing demand for CoQ10 during the forecast period.
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Cosmetic applications of coenzyme Q10 are expected to exceed US$ 190 million by 2027 as cosmetic makers become more aware of the benefits of coenzyme Q10. To meet the increased demand for coenzyme Q10 from pharmaceutical, cosmetic applications, major companies in the coenzyme Q10 business are focusing on strategic efforts such as new product launches, collaboration, partnerships, and mergers and acquisitions. Other applications of coenzyme Q10, such as toothpaste and food supplements, are expected to grow at a CAGR of more than 8.5% throughout the forecast period. The increased usage of CoQ10 as a nutritious element in functional food products is driving up demand. Increased demand for nutritive convenience and fortified food, as well as increased health awareness among consumers worldwide, have fueled the demand for functional food items, enhancing overall market demand.
Read the market research report, " CoQ10 Supplement Market Segmented By Type (Soft Capsule and Chewable Tablets), By Application (Pharmaceuticals, and Cosmetics) & By Region - Forecast and Analysis 2022-2028" by SkyQuest
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The North American CoQ10 market is expected to grow by more than 9.8% between 2021 and 2027, because of increased demand for coenzyme Q10 fortified products and a substantial trend in the region toward natural and organic cosmetic products. The Asia Pacific CoQ10 market is expected to develop at a substantial CAGR of more than 11.5% through 2027. Aging demographics and rising demand for chemicals in pharmaceuticals are expected to boost market figures in the Asia Pacific region. Furthermore, increased demand in emerging nations such as India, South Korea, and China is positively influencing CoQ10 market expansion due to rising expenditure on health-enhancing products and rising per capita income.
As a result of the domain's technological nascence, no company currently wields significant influence, and the race to dominance has already begun, with companies investing in multiple projects, and acquiring a few on their way to the finish line in the domain. The top players in this market include Kyowa Hakko USA Inc. (US), Gnosis S.p.A. (Italy), Kaneka Corporation (Japan), DSM Nutritional Products (Netherlands), Hwail Pharmaceutical Company Ltd. (South Korea), PharmaEssentia Corporation (Taiwan), Nature's Bounty (US), Now Foods (US), Life Extension (US), NatureWise (US), Bulk Supplements (US).
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about CoQ10 Supplement Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Report Findings
• Drivers- Increasing the use of CoQ10 in the areas of cognitive illness, eye care, cancer, and heart disease is the major driving factor for the CoQ10 supplement market. Growing awareness regarding the benefits of products is increasing eh acceptance of healthy and this will drive the CoQ10 supplement market during the forecast period.
● Restraint- Stringent norms and regulations regarding product usage in medical are expected to restrain the global CoQ10 supplement market growth during the analysis period.
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What does this Report Deliver?
• Market Estimation for 20+ Countries
• CoQ10 Supplement Market demand by Region, Sub-Region, and Country
• Customization on Segments, Regions, and Company Profiles
• 100+ tables, 150+ Figures
• Global, Regional, and Country specific CoQ10 Supplement Market Trends
• Comprehensive Mapping of CoQ10 Supplement Industry Parameters
• Attractive Investment Proposition in the Global CoQ10 Supplement Industry
• Competitive Strategies Adopted by CoQ10 Supplement Market Key Players
• Drivers, Restraints, Opportunities, Challenges, and the impact on the CoQ10 Supplement Market Size
• Market growth rate till 2028
• Regulatory scenario, regional dynamics, and CoQ10 Supplement market insights of leading countries in each region
• In-depth Market insights by Region and Country
• Market Segmentation Trend Analysis, Opportunities, and Growth
• Porter's five force analysis to know the market's condition
• Pricing Analysis and CoQ10 Supplement Market Sales
• Parent market analysis
• Product portfolio benchmarking
SkyQuest has segmented the Global CoQ10 Supplement Market based on Type, Application, and Region:
● Global CoQ10 Supplement Market by Type (Revenue, USD Million, 2021 - 2028)
o Soft Capsule
o Chewable Tablets
● Global CoQ10 Supplement Market by Application (Revenue, USD Million, 2021 - 2028)
o Pharmaceuticals
o Cosmetics
● Global CoQ10 Supplement Market By Region (Revenue, USD Million, 2021 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Central & South America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA
Key Players in the Global CoQ10 Supplement Market
• Kyowa Hakko USA Inc. (US)
• Gnosis S.p.A. (Italy)
• Kaneka Corporation (Japan)
• DSM Nutritional Products (Netherlands)
• Hwail Pharmaceutical Company Ltd. (South Korea)
• PharmaEssentia Corporation (Taiwan)
• Nature's Bounty (US)
• Now Foods (US)
• Life Extension (US)
• NatureWise (US)
● Bulk Supplements (US)
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SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals
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