Report : Europe L-Carnitine Market Forecast to 2027- Covid-19 Impact and Regional Analysis by Process (Chemical Synthesis, Bio-process); Product (Food Grade, Pharmaceutical Grade, Feed Grade); Application (Animal Feed, Healthcare Products, Functional Drinks, Medicines
Increasing inclination toward for personalized nutrition, healthy heart, and athletic performance to escalate L Carnitine market growth at CAGR of 4.9% during 2019–2027
According to our latest market study on “Europe L Carnitine Market to 2027 – COVID-19 Impact and Analysis by Process (Chemical Synthesis, Bioprocess); Product (Food, Pharmaceutical Grade, Feed Grade); Application (Animal Feed, Healthcare Products, Functional Drinks, Medicines), and Country,” the L Carnitine market was valued at US$ 47.1 million in 2018 and is projected to reach US$ 72.7 million by 2027; it is expected to grow at a CAGR of 4.9% from 2019 to 2027. The report highlights key factors driving the market growth, and prominent players and their developments in the market.
L-Carnitine is a naturally occurring compound in human and animal bodies; it plays an important role of shuttling fatty acids to and fro in the cells to produce energy. It is produced in the liver and kidneys. However, certain individuals are unable to produce or synthesize required amount of L-Carnitine owing to genetic conditions or defects. Such individuals suffer from primary and secondary L-Carnitine deficiency. The US Food and Drug Administration (FDA) has approved the use of oral and intravenous (IV) L-Carnitine for treating primary and secondary Carnitine deficiency. L-Carnitine is today commercially advertised as nutritional supplements to enhance exercise performance and promote weight loss. It is also approved to treat Carnitine deficiencies in patients at the end stage of renal diseases, undergoing hemodialysis. Besides its uses in human nutrition, L-Carnitine is also used as an additive in animal feed formulations. It is used in the poultry industry to increase egg production and improve egg hatchability.
L-Carnitine is increasingly being consumed in the form of functional drinks and nutritional supplements by fitness enthusiasts and athletes worldwide to improve muscular endurance. It has the ability to reduce fatigue levels by inhibiting the accumulation of lactic acid, which has been known as the primary cause of fatigue. It has also been known to reduce the accumulation of metabolic wastes during training sessions and exercises. This plays an important role in increasing workload output while exercising as well as during post-exercise recovery, which is adding to the demand for this compound in the form of supplements. Further, the growing need to maintain heart health, as a result of and the rising cases of heart diseases, is likely to increase the consumption of L-Carnitine supplements. Cardiac insufficiency and respiratory distress, cardiac arrhythmia, and cardio-myopathy have been associated with Carnitine deficiency. The increased awareness about heart health and the role of L-Carnitine in averting it has led to the significant consumption of L-Carnitine supplements, which has consequently driven the L-Carnitine market.
The recent COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food & beverages is one of the major industries suffering serious disruptions in the form of supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is a global manufacturing hub and the largest raw material supplier for various industries. The overall market breakdown due to COVID-19 is also affecting the growth of the L Carnitine market due to shutdown of factories, obstacles in supply chain, and downturn in global economy.
The Europe L Carnitine market is a concentrated one, with a few well-established players such as ChengDa PharmaCeuticals Co.,Ltd, Maxsun Industries Incorporated, Alpsure Lifesciences Pvt. Ltd, Lonza Group Ltd, Northeast Pharmaceutical Group Co.,Ltd, Merck KGaA, and Biosint S.p.A.