Saudi Arabia L-carnitine Market Size & Outlook, 2020-2028
Saudi Arabia l-carnitine market, 2017-2028 (US$M)
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Saudi Arabia l-carnitine market highlights
- The Saudi Arabia l-carnitine market generated a revenue of USD 1.4 million in 2020 and is expected to reach USD 2.0 million by 2028.
- The Saudi Arabia 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.
- 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 1.4 million |
| Market revenue in 2028 | USD 2.0 million |
| Growth rate | 4.6% (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, Saudi Arabia accounted for 0.8% 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 Middle East & Africa, South Africa l-carnitine market is projected to lead the regional market in terms of revenue in 2028.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2.0 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 78.57% in 2020. Horizon Databook has segmented the Saudi Arabia l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Pharmaceutical industry in Saudi Arabia is expected to witness significant growth owing to the rise in the number of lifestyle-related diseases including heart diseases, stroke, type 2 diabetes, obesity, and hypertension. Increasing number of health issues and rising penetration of health insurance companies in South Africa are expected to drive the growth of pharmaceutical industry.
The growth in pharmaceutical industry is expected to propel the demand for L-carnitine in medicines to control various health problems including coronary heart diseases and thyroid. According to a report published by the USDA Foreign Agricultural Services, as of 2018, animal feed industry in Saudi Arabia witnessed a decline in 2017 due to the increasing number of expatriates.
In addition, reduction in the demand for meat and meat products in hotel/restaurant/café (HORECA) sector is projected to hamper animal feed industry in the country. The aforementioned factors are anticipated to have a negative influence on L-carnitine market.
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Target buyers of Saudi Arabia 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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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 country-level data and insights on the Saudi Arabia l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Saudi Arabia l carnitine market size, by process, 2017-2028 (US$M)
Saudi Arabia L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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