Asia Pacific L-carnitine Market Size & Outlook, 2020-2028
Asia Pacific l-carnitine market, 2017-2028 (US$M)
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Asia Pacific l-carnitine market highlights
- The Asia Pacific l-carnitine market generated a revenue of USD 45.0 million in 2020.
- The market is expected to grow at a CAGR of 5.5% from 2021 to 2028.
- In terms of segment, bioprocess was the largest revenue generating process in 2020.
- Bioprocess is the most lucrative process segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2021 to 2028.
Asia Pacific data book summary
| Market revenue in 2020 | USD 45.0 million |
| Market revenue in 2028 | USD 69.3 million |
| Growth rate | 5.5% (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 |
| Key market players worldwide | Lonza Group Ltd, Neogen Corp, WuXi Biologics (Cayman) Inc, Merck KGaA, Tokyo Chemical Industry, CEVA Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 24.3% of the global l-carnitine market in 2020.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 69.3 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 76.44% in 2020. Horizon Databook has segmented the Asia Pacific l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Developing countries such as China and India have witnessed an exponential growth in the consumption of functional food ingredients and dietary supplements in the last 10 years. In addition, nutraceuticals industry in developed economies such as Japan, Australia, and South Korea have shown an upward growth trajectory in the recent past.
As a result, Asia Pacific has emerged as a budding market for L-carnitine, supported by health and wellness trends across various countries. The L-carnitine industry in China is currently witnessing strong growth, supported by various factors, including rising urban population, which has stimulated the concept of self-health through the utilization of dietary supplements and practice of preventive medicines in the past few years.
In addition, the rising population of middle-income households, along with increasing discretionary income of consumers, is shifting the trend toward the consumption of modern healthcare products in place of conventional ones.
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Target buyers of Asia Pacific 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 continent-level data and insights on the Asia Pacific l-carnitine market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Asia Pacific l carnitine market size, by country, 2017-2028 (US$M)
Asia Pacific L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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