China L-carnitine Market Size & Outlook, 2020-2028
China l-carnitine market, 2017-2028 (US$M)
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China l-carnitine market highlights
- The China l-carnitine market generated a revenue of USD 19.6 million in 2020 and is expected to reach USD 30.4 million by 2028.
- The China market is expected to grow at a CAGR of 5.6% 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 19.6 million |
| Market revenue in 2028 | USD 30.4 million |
| Growth rate | 5.6% (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, China accounted for 10.6% 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 Asia Pacific, China l-carnitine market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 11.6 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 76.53% in 2020. Horizon Databook has segmented the China l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
According to data published by The World Bank, over 60% of the Chinese population lived in urban areas in 2019. There is a very high correlation between urban living and obesity, where access to highfat diets and sugary foods are most prevalent, which is a worldwide trend.
As a result, the high urban population in the country has seen a rise in obese population. This, in turn, is expected to propel the demand for L-carnitine supplements in the country, as it plays a key role in weight management treatments.
The consumer health market in China is expected to witness an exponential growth, in terms of value, on account of rising government focus to boost the domestic demand, as it is one of the major growth engines of the economic development of the country.
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Target buyers of China 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into China l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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China l carnitine market size, by process, 2017-2028 (US$M)
China L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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