According to the report, global demand for coenzyme Q10 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 kilotons in 2014. 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.”
Coenzyme Q10 (CoQ10) is also known 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. Yeast fermentation and bacterial fermentation are the two industrial methods used in the manufacturing of Coenzyme Q10. It is widely used in numerous applications as an antioxidant.
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The global coenzyme Q10 market is mainly driven by growing demand from cosmetic industry. The growing health concern and changing lifestyle have resulted in the rapid growth of different types of personal care products such as sunscreen lotions, anti-aging creams, etc. Personal care products manufacturing requires the significant volume of coenzyme Q10. This, in turn, is fuelling the market growth of coenzyme Q10. Moreover, increasing use of coenzyme Q10 in medical applications is one of the major growth drivers. Coenzyme Q10 is one of the important components of the drugs used to cure the diseases like heart diseases, eye care, cancer treatment, obesity problem and Huntington’s disease. However, stringent healthcare regulations in developed nations such as U.S., UK, Germany, France, Japan, etc. is expected to hamper the growth of this industry to some extent.
Dietary supplement, pharmaceuticals, and cosmetics are some of the key application markets for coenzyme Q10. With over 55% shares in total volume consumption, coenzyme Q10 market was dominated by dietary supplement application in 2014.
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This application segment is further expected to exhibit strong demand for coenzyme Q10 owing to growing health concerns and increasing awareness regarding its benefit. The pharmaceutical that is expected to witness strong growth between 2015 and 2020. Increasing prevalence cardiovascular diseases among people is expected to fuel the growth of coenzyme Q10.
With over 50% shares in total volume consumption, coenzyme Q10 market was dominated by North America in 2014. North America was followed by Europe and Asia Pacific respectively. In addition, Asia Pacific region is projected to have the robust growth in future years. However, strong demand for CoQ10 the emerging economies like China, and India is mainly responsible for rapid growth of this industry in the region.
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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.