Carnitine Supplements Market To Grow Steadily With Impressive CAGR of 5.1% During The Forecast Period From 2022 to 2031

The Carnitine Supplements Market size 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 helps in metabolism that transforms the fatty acids into energy in mammals. It is anticipated that the global carnitine supplements market would be driven by the increased prevalence of excessive weight gain and obesity.

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A significant rise in the prevalence of obesity and excess weight gain across most of the developed and developing economies drive the growth of the global carnitine supplements market. However, complex extraction process of the carnitine ingredients restricts the market growth. Moreover, a rapid increase in health awareness among consumers and the rising inclination towards a healthy lifestyle coupled with the growing adoption of dietary supplements present new opportunities in the coming years.

Regional Analysis:

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global carnitine supplements market, and is likely to dominate the market during the forecast period, owing to a significant rise in the obese population and developing lifestyle-related ailment. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.7% from 2022 to 2031. The presence of a sizable young population, changing lifestyles, unhealthy eating habits, rising health consciousness, rising consumer spending on wellness products, and rising disposable income of consumers are the key factors that are significantly fueling the growth of the carnitine supplements market in the Asia-Pacific region.

Key Players Are:

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 industry 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 opportunity.

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On the basis of end user, women was the leading segment in 2021. Women population are 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 healthy diet has led to a rapid growth of the women segment in the global carnitine supplements market.

Key findings of the study

-> The carnitine supplements market size 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.

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As per the carnitine supplements market trends, depending on the distribution channel, online is expected to be the fastest-growing distribution channel during the forecast period. The quick accessibility to carnitine supplements and advantages offered by the online portals, such as details about the functional characteristics of the products, offers, and usage instructions, are credited with the growth of the online sales channel.

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