India L-carnitine Market Size & Outlook, 2020-2028
India l-carnitine market, 2017-2028 (US$M)
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India l-carnitine market highlights
- The India l-carnitine market generated a revenue of USD 7.3 million in 2020 and is expected to reach USD 11.6 million by 2028.
- The India market is expected to grow at a CAGR of 6% from 2021 to 2028.
- In terms of segment, bioprocess was the largest revenue generating process in 2020.
- Chemical Synthesis 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 7.3 million |
| Market revenue in 2028 | USD 11.6 million |
| Growth rate | 6% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Chemical Synthesis |
| 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, India accounted for 3.9% 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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India 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 76.71% in 2020. Horizon Databook has segmented the India l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Rising health awareness, increasing discretionary incomes, and improved living standards of consumers are expected to promote the demand for nutraceuticals. The nutraceuticals segment is expected to be the fastest-growing segment in the dietary supplements market.
In addition, diabetes, weight management, cholesterol management, digestive, and cognitive foods in the functional food & beverages category are gaining popularity. These factors are projected to positively impact the growth of the L-carnitine market in the country over the forecast period.
Furthermore, fast-moving consumer goods and pharmaceutical companies, along with a few companies that specialize in nutraceuticals such as Lactonova, dominated the Indian nutraceuticals market. These companies are focusing on product innovation and market penetration through enhanced distribution networks and marketing strategies, which in turn, is expected to drive the growth of the nutraceuticals market in the country.
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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 India l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into India l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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India l carnitine market size, by process, 2017-2028 (US$M)
India L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
Related regional statistics
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