L-Carnitine Market Size, Status, Dynamic, Growth, Share And Foresight 2019-2028
L-carnitine is a non-essential amino-acid-like compound, produced in the body. Its main function is to help the body to produce energy and plays an important role in muscle movement, as well as, normal functioning of the brain and heart. L-carnitine also plays an important role in energy metabolism.
Major factor driving growth of the global l-carnitine market include increasing prevalence of chronic diseases, due hectic lifestyle and increasing awareness among consumers regarding health benefits of functional foods. Increasing adoption of l-carnitine in pharmaceuticals industry for preparation of various pharmaceutical supplements and in animal feed industry to promote growth of animals are other factors expected to support growth of the global l-carnitine market over the forecast period. However, various side effects associated with improper consumption may lead to nausea, vomiting, stomach upset, heartburn, diarrhea, which is a major factor expected to hamper growth of the global l-carnitine market over the forecast period.
The global l-carnitine market report has been segmented on the basis of product type, application, end user, and region. On the basis of product type, the global l-carnitine market is segmented into l-carnitine food grade, l-carnitine feed grade, and l-carnitine pharmaceutical grade. L-carnitine food grade accounted for major revenue share owing to high demand from food industry.
On the basis of application, the global l-carnitine market is segmented into animal food, health care products, functional drinks, medicine, and others. Functional drinks accounted for major revenue share among all application segments, owing to increasing health concerns among individuals and increasing disposable income.
On the basis of region, the global l-carnitine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to dominate the global l-carnitine market and account for major revenue share, owing to high demand for functional food & beverages products and increasing prevalence of lifestyle diseases in countries in the region.
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Key players in this market include Northeast Pharmaceutical Group Co., Ltd., AIDP Inc., Spectrum Chemicals and Laboratory Products, Inc., Zhejiang Jiashan Chengda Pharm & Chem Co., Ltd., Biosynth AG, Wuhan Yuancheng Technology Development Co., Ltd., Zhejian Jiashan Chengda Pharm Co. Ltd., Lonza Group Ltd., Qingdao FTZ United International Inc., Sigma–Tau Pharmaceuticals, Inc., and Ajinomoto AminoScience LLC.