Glutathione Is Estimated To Witness High Growth Owing To Wide Range Of Applications In Pharmaceutical And Nutraceutical Industries
Glutathione is an antioxidant found naturally in plants, animals, and humans that helps protect cells from damage. It has a wide range of applications in pharmaceuticals, nutraceuticals, cosmetics, and food industry products. It is commonly used as an ingredient in health supplements, skin lightening creams, and formulations for treatment of several health conditions such as liver diseases, neurodegenerative disorders, chronic fatigue syndrome, and AIDS.
The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the glutathione market is its wide range of applications in the pharmaceutical and nutraceutical industries. Glutathione plays an important role in various metabolic functions and helps protect cells from oxidative damage. It is commonly used as an ingredient in supplements for conditions such as liver diseases, neurodegenerative disorders, chronic fatigue syndrome, and more. Additionally, growing consumer awareness about preventive healthcare and the various health benefits of glutathione is also fueling the demand for nutritional supplements with glutathione, thus driving market growth. The wide uptake of glutathione in various pharmaceutical formulations and health supplements owing to its antioxidant properties is expected to contribute significantly to the market during the forecast period.
SWOT Analysis
Strength: Glutathione has strong antioxidant and immune-boosting properties that helps fight various diseases and aging. Extensive research and clinical trials have proven its beneficial effects on human health. Rising health consciousness among consumers is driving strong demand. Production of Glutathione is well-established with standardized manufacturing processes.
Weakness: Lower bioavailability of Glutathione supplements limits their effectiveness when taken orally. Unpleasant taste and smell also affects consumer preference and compliance. High costs of R&D investments and cGMP manufacturing facilities limit entry of new players.
Opportunity: Growing geriatric population susceptible to age-related diseases and conditions expands the potential customer base. Increasing lifestyle diseases and pollution levels augment the scope for preventive healthcare using Glutathione. Emerging applications in cosmetic, nutricosmetic and skincare industries present new revenue avenues.
Threats: Strict regulatory approval process for new functional ingredients delays product launches. Presence of alternative cheaper antioxidant supplements restricts market potential. Fluctuating raw material prices impact operational costs.
Key Takeaways
The global Glutathione Market Demand was valued at US$ 274.28 Mn in 2023 and is anticipated to reach US$ 590.24 Mn by 2030 expanding at a CAGR of 8.8% during the forecast period from 2023 to 2030. Glutathione has applications in pharmaceuticals, functional foods, cosmetics and personal care owing to its antioxidant properties.
North America dominates currently due to advanced healthcare systems and rising health supplement spending. Asia Pacific is expected to grow at fastest pace due to large patient pools, growing medical tourism and rapid economic growth of countries like China and India.
Key players operating in the Glutathione market are Kyowa Hakko Bio Co., Ltd., Shandong Jincheng Biological Pharmaceutical Co., Ltd., KOHJIN Life Sciences Co., Ltd., Shenzhen GSH Bio-Technology Co, Ltd, Kaiping Genuine Biochemical Pharmaceutical Co., Ltd., Nissor Pharmaceuticals Ltd., and Jarrow Formulas, Inc. These players are focused on new product launches, expansion strategies and collaborations for greater market share.
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