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.
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.
By Production Method
The Microbial Fermentation segment dominates the global ubiquinone market and is expected to retain its dominance throughout the forecast period.
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.
By Application
The Dietary supplements segment dominates the global ubiquinone market and is expected to retain its dominance throughout the forecast period.
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.
By Region
The North America segment dominates the global ubiquinone market and is expected to retain its dominance throughout the forecast period.
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
Ubiquinone Market Report Highlights
| Aspects | Details |
 By PRODUCTION METHOD |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | SHANDONG OCTAGON CHEMICALS LIMITED, ORIENTAL YEAST CO., LTD., SHENZHOU BIOLOGY & TECHNOLOGY CO., LTD., SINOWAY INDUSTRIAL CO., LTD., SPECTRUM CHEMICAL MANUFACTURING CORP., KANEKA CORPORATION, TOKIWA PHYTOCHEMICAL CO., LTD., KYOWA HAKKO BIO CO., LTD., XIAMEN KINGDOMWAY GROUP COMPANY, HANGZHOU JINLAN PHARMACEUTICAL TECHNOLOGY DEVELOPMENT CO., LTD. |
Analyst Review
The market players have adopted key developmental strategies such as agreement and partnership to fuel the growth of the ubiquinone market in terms of value sales. They also emphasize on continuous improvement in their product to keep a strong foothold in the market and to boost the demand for ubiquinone in other industries including nutraceuticals industry, pharmaceutical industry, and cosmetic industry.
According to the key market players, changing lifestyles and rise in concern regarding health and beauty are encouraging consumers to seek for non-invasive and effective solutions. Therefore, the manufacturers are investing in R&D activities and making continuous effort in launching new improved ingredient for nutraceuticals producers to help them in meeting the rising global demand of consumers for improved nutritional supplements. Thus, this factor promotes the use of ubiquinone in the nutraceuticals industry.
The key market players in this market adopted new strategies such as improvement in the production method, agreement and others as their key developmental strategies to fulfil the rise in demand for final product’s manufacturers. According to them, rise in trend of using ingestible beauty products due to increase in concern regarding the appearance among consumers is expected to fuel the demand for ubiquinone among the cosmetic manufactures. Thus, this factor is anticipated to offer lucrative opportunity for the growth of the ubiquinone market.
However, the availability of its substitutes such as Tyrosine, Alpha-Linolenic Acid (ALA) and others to treat various disease is likely to hamper the growth of the ubiquinone market in the future.
The global ubiquinone market size is projected to reach $752.1 million by 2030.
The global ubiquinone market is projected to register a CAGR of 4.8% from 2021 to 2030.
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key players in ubiquinone market includes Hangzhou Jinlan Pharm-Drugs, Kaneka, Kyowa Hakko, Oriental Yeast, Shandong Octagon, Shenzhou Biology & Technology, Sinoway Industrial, Spectrum Chemical, Tokiwa Phytochemical and Xiamen Kingdomway.
The global ubiquinone market is segmented on t are categorized into production method, application, and region.
2020 was considered as the base year in the ubiquinone market.
The rising trend of consuming dietary supplement among the consumers will shape the market in the future.
North America holds the maximum share in the ubiquinone market in 2020.
The growth of pharmaceutical industry, cosmetic industry and the increasing consumer trend for fortified food globally are some of the effecting factor in the ubiquinone market.
The ubiquinone market is countersigning a steady increasing demand, majorly from the industrial sectors such as cosmetic industry, pharmaceutical industry and nutraceutical industry.
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