Global L-carnitine Market Size & Outlook, 2020-2028
Global l-carnitine market, 2017-2028 (US$M)
Related Markets
Global l-carnitine market highlights
- The global l-carnitine market generated a revenue of USD 185.0 million in 2020 and is expected to reach USD 276.1 million by 2028.
- The market is expected to grow at a CAGR (2021 - 2028) of 5.1% by 2028.
- In terms of segment, bioprocess accounted for a revenue of USD 141.5 million in 2020.
- Bioprocess is the most lucrative process segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2020.
- Country-wise, South Africa is expected to register the highest CAGR from 2021 to 2028.
Global data book summary
| Market revenue in 2020 | USD 185.0 million |
| Market revenue in 2028 | USD 276.1 million |
| Growth rate | 5.1% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Bioprocess |
| Historical data covered | 2017 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Chemical Synthesis, Bioprocess |
Other key industry trends
- In terms of revenue, the North America accounted for 37.8% of the global l-carnitine market in 2020.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2028.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 3.1 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global l-carnitine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to l-carnitine market will help companies and investors design strategic landscapes.
Bioprocess was the largest segment with a revenue share of 76.49% in 2020. Horizon Databook has segmented the Global l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
- Global L-carnitine Process Outlook (Revenue, USD Million, 2017-2028)
- Chemical Synthesis
- Bioprocess
- Global L-carnitine Product Outlook (Revenue, USD Million, 2017-2028)
- Food & Pharma Grade
- Feed Grade
- Global L-carnitine Application Outlook (Revenue, USD Million, 2017-2028)
- Animal Feed
- Healthcare Products
- Functional Food & Beverages
- Medicines
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Target buyers of Global l-carnitine market databook
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Our clientele includes a mix of l-carnitine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global l-carnitine market , including forecasts for subscribers. This global databook contains high-level insights into Global l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Global l carnitine market size, by region, 2017-2028 (US$M)
Top 10 countries: L carnitine market size, 2020 (US$M)
Global l carnitine market share, by process, 2020 & 2028 (%, US$M)
L-carnitine market: Opportunity assessment by country
Global l-carnitine market, by region, 2020 (US$M)
| Process | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 60.7 | 63.5 | 66.5 | 70.0 | 73.5 | 77.1 | 81.0 | 85.1 | 89.5 | 94.3 | 99.3 | 105.3 | 5.2% |
| Europe | 46.0 | 48.0 | 50.1 | 52.4 | 54.9 | 57.4 | 60.0 | 62.9 | 65.9 | 69.1 | 72.4 | 76.6 | 4.9% |
| Asia Pacific | 38.6 | 40.6 | 42.7 | 45.0 | 47.3 | 49.8 | 52.5 | 55.4 | 58.4 | 61.7 | 65.2 | 69.3 | 5.6% |
| Latin America | 10.1 | 10.4 | 10.8 | 11.3 | 11.9 | 12.3 | 12.9 | 13.4 | 14.0 | 14.7 | 15.3 | 16.1 | 4.5% |
| MEA | 5.5 | 5.8 | 6.0 | 6.3 | 6.5 | 6.8 | 7.0 | 7.4 | 7.7 | 8.1 | 8.4 | 8.8 | 4.3% |
| Overall | 160.9 | 168.3 | 176.1 | 185.0 | 194.1 | 203.4 | 213.4 | 224.2 | 235.5 | 247.9 | 260.6 | 276.1 | 5.1% |
Related regional statistics
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