South Africa L-carnitine Market Size & Outlook, 2020-2028
South Africa l-carnitine market, 2017-2028 (US$M)
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South Africa l-carnitine market highlights
- The South Africa l-carnitine market generated a revenue of USD 2.2 million in 2020 and is expected to reach USD 3.1 million by 2028.
- The South Africa market is expected to grow at a CAGR of 4.4% 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 2.2 million |
| Market revenue in 2028 | USD 3.1 million |
| Growth rate | 4.4% (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, South Africa accounted for 1.2% 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 |
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South Africa 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 77.27% in 2020. Horizon Databook has segmented the South Africa l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Pharmaceutical industry in South Africa is expected to grow due to the establishment of the South African Health Products Regulatory Authority (SAHPRA), which supervises the medical device and drugs industry.
In addition, the availability of cost-effective and skilled labor in the country is likely to propel the growth of pharmaceutical industry. The use of L-carnitine in pharmaceuticals to control and prevent various health hazards such as coronary heart diseases and diabetes is expected to augment the growth of L-carnitine market over the forecast period.
Animal feed industry in South Africa is expected to grow owing to the low cost of raw materials in the country. Low production cost coupled with rising consumption of animal feed is further driving the industry growth in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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South Africa l carnitine market size, by process, 2017-2028 (US$M)
South Africa L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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