Canada L-carnitine Market Size & Outlook, 2020-2028
Canada l-carnitine market, 2017-2028 (US$M)
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Canada l-carnitine market highlights
- The Canada l-carnitine market generated a revenue of USD 8.5 million in 2020 and is expected to reach USD 12.2 million by 2028.
- The Canada market is expected to grow at a CAGR of 4.6% 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.
L-carnitine market data book summary
| Market revenue in 2020 | USD 8.5 million |
| Market revenue in 2028 | USD 12.2 million |
| Growth rate | 4.6% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Bioprocess |
| Historical data | 2017 - 2019 |
| Base year | 2020 |
| Forecast period | 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, Canada accounted for 4.6% of the global l-carnitine market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In North America, U.S. l-carnitine market is projected to lead the regional market in terms of revenue in 2028.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 86.1 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 76.47% in 2020. Horizon Databook has segmented the Canada l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
The U.S. exhibits high prevalence of obesity in its population. As per data published by the U.S. Department of Health & Human Services, obesity is quoted to be one of the costliest and serious health issues. In 2017–2018, around 42.2% of the entire U.S. population was obese, which has increased by more than 11% from the year 2000.
Obesity has also been associated with serious heart conditions, strokes, type 2 diabetes, and is considered one of the leading causes of premature deaths. The use of L-carnitine is expected to increase as it has positive impact on the lipid metabolism, such as decreasing HDL and FFA concentrations, as per a research paper named “The effect of L-carnitine on lipid metabolism in patients with obesity” on Elsevier Inc.
L-carnitine is also preferred due to its other benefits including enhanced bone mass, muscle gain, and immunity. Increasing utilization of L-carnitine in nutraceutical products and medicines due to a number of benefits is likely to propel its market growth over the forecast period.
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Target buyers of Canada 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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Horizon Databook provides a detailed overview of country-level data and insights on the Canada l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into Canada l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Canada l carnitine market size, by process, 2017-2028 (US$M)
Canada L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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