Ubiquinone Market by Production method (Microbial Fermentation and Chemical Synthesis), Application (Dietary supplements, Pharmaceuticals and Cosmetics): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global ubiquinone market size was valued at $473.6 million in 2020, and is projected to reach $752.1 million by 2030, registering a CAGR of 4.8% from 2021 to 2030.

Ubiquinone which is also known as coenzyme Q10 (CoQ10) is naturally occurring vitamin-like substance which is present in animals, plants, and human body. In human body, it is found in heart, kidney, liver, and pancreas. Ubiquinone is also industrially manufactured by two production methods including microbial fermentation and chemical synthesis. Additionally, it is largely used in the treatment of heart conditions such as congestive heart failure and other diseases such as Huntington’s disease, breast cancer, gum diseases and others. It is commonly used in tablets, supplements, and capsules in pharmaceuticals and nutraceuticals industries.

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Coenzyme Q10 or ubiquinone is considered to be an immunity enhancing enzyme which helps in mitigating the possibility of disease like cancer. Additionally, the aging population is expected to provide lucrative opportunities for the expansion of cosmetic industry in the countries like Japan, Latin America and others. According to WHO, the population in Latin America is aging at a rapid pace. Thus, this in turn is likely to offer immense opportunity for the growth of ubiquinone market from the cosmetics industry during the ubiquinone forecast period in terms of value sales.

Covid-19 Impact Analysis

• The outbreak of the COVID-19 pandemic has shown a positive impact on the market. 
• During the COVID-19 outbreak, the nutraceutical industry got benefit from consumers who were looking to lead healthier lifestyles and improve their dietary habits and immune power due to this COVID-19. This in turn has boosted the demand for ubiquinone in the nutraceutical industry boosting the growth of overall market in this corona virus outbreak.

The global ubiquinone market is segmented are categorized into production method, application and region. By production method, it is classified into microbial fermentation and chemical synthesis. By application, it is divided into pharmaceuticals, dietary supplements and cosmetics. Region wise, the market is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).

By production method, the microbial fermentation segment accounted the highest ubiquinone market share in 2020. This is mainly attributed to its effectiveness in synthesizing ubiquinone through this method. Thus, contributing toward growth of the overall ubiquinone industry. However, the chemical synthesis production method is expected to be the fastest growing segment during the forecast period in terms of value sales.

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By application, the market is divided into dietary supplement, pharmaceuticals and cosmetics. In 2020, the dietary supplement segment accounted for the highest market share in the global ubiquinone market and is also expected to be the fastest growing segment during the forecast period. This is attributed to the various health benefits associated with the use of ubiquinone in the form of dietary supplement which has fueled its demand in the nutraceuticals industry. However, cosmetics segment in the ubiquinone market is expected to be the fastest growing segment during the forecast period in terms of value sales.

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Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in the year 2020. The North America ubiquinone market dominated the use of ubiquinone, owing to the fact that the consumption of ubiquinone is increasing among the consumers in this region. This is mainly due to high incidences of diseases, such as, high cholesterol high blood pressure, coronary heart diseases, atherosclerosis, and congestive heart failures. Ubiquinone helps protect heart and blood vessels from getting damaged. Therefore, North America has created a prolific ubiquinone market demand over the period of time. However, Asia-Pacific is expected to be the fastest growing market during the market forecast period.

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Key players operating in the global ubiquinone market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global industry analyzed in this report include Hangzhou Jinlan Pharm-Drugs Technology Co., Ltd., Kaneka Corporation, Kyowa Hakko Bio Co., Ltd., Oriental Yeast Co., Ltd., Shandong Octagon Chemicals Limited, Shenzhou Biology & Technology Co., Ltd., Sinoway Industrial Co., Ltd., Spectrum Chemical Manufacturing Corp., Tokiwa Phytochemical Co., Ltd. and Xiamen Kingdomway Group Company.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the current ubiquinone market trends, estimations, and dynamics of the global market for the period of 2020–2030 to identify the prevailing ubiquinone market opportunity.
• The key countries in four major regions have been mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes both regional as well as global the ubiquinone market analysis, key players, market segments, application areas, and ubiquinone market growth strategies.

Key Market Segments

By Production method

• Microbial Fermentation
• Chemical Synthesis

By Application

• Dietary Supplements
• Pharmaceuticals
• Cosmetics

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • ASEAN
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Turkey 
  • Rest of LAMEA