Glutathione Market Is Estimated To Witness High Growth Owing To Rising Demand From Health Supplement And Nutraceutical Industry
Glutathione is an antioxidant that plays an important role in protecting cells from oxidative damage. It is widely used in various health supplements and nutraceutical products such as anti-aging creams, energy drinks, and sports nutrition due to its antioxidant properties. Glutathione helps in boosting immunity, reduces cell damage, detoxifies liver, and helps prevent cancer and aging. The growing health consciousness among customers coupled with rising disposable incomes have fueled the demand for glutathione based products.
The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global glutathione market is primarily driven by the growing demand from the health supplement and nutraceutical industry. Glutathione acts as an antioxidant and supports liver functioning, immune system, muscle building, and tissue maintenance. It helps in reducing signs of aging, stress, and fatigue. Hence, it is widely used in various dietary supplements. According to a report by Coherent Market Insights, the health supplements segment accounted for the largest revenue share of over 35% in 2022. Furthermore, increasing instances of oxidative stress and lifestyle diseases due to changing consumption patterns and busy lifestyles have raised the importance of antioxidants. Glutathione helps reduce the risk of chronic diseases like cancer, Alzheimer's, Parkinson's, and AIDS. The antioxidant property of glutathione is fueling its adoption in various end-use industries.
SWOT Analysis
Strength: Glutathione has strong antioxidant properties that help fight free radicals in the body. It plays an important role in various biochemical functions and enhances immunity. Many clinical studies have proven the health benefits of glutathione for diabetes, liver diseases, cancer and aging. The increasing health awareness and demand for nutritional supplements will drive the glutathione market growth.
Weakness: The natural production of glutathione reduces with age. Oral supplements of glutathione have poor bioavailability as it cannot be absorbed efficiently from the gastrointestinal tract. Injectable forms are expensive and require medical supervision. This limits the effectiveness and adoption of glutathione supplements.
Opportunity: The growing geriatric population suffering from age-related diseases creates a huge market potential. Research on innovative drug delivery systems to enhance the absorption of glutathione supplements will expand its market size. Its application in cosmetic products for skin lightening and anti-aging is gaining popularity.
Threats: Stringent regulations for nutraceutical products and approval timelines can hamper market growth. Competition from other antioxidants available in the market also poses a threat. Adverse effects reported from excessive glutathione intake can negatively impact the demand.
Key Takeaways
The global Glutathione Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is estimated to reach US$ 274.28 million by 2023 registering a CAGR of 18% .
Regional analysis: Asia Pacific region dominates the global glutathione market currently accounting for over 40% of revenue share. The high demand is attributed to rising health awareness and adoption of nutritional supplements. China is the leading producer and consumer market. Europe is projected to grow at a faster rate during the forecast period due to increasing research investment into glutathione formulations.
Key players: Key players operating in the glutathione market include BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Samsung SDI Co. Ltd, TianJin Lishen Battery Joint-Stock CO. LTD, GS Yuasa Corporation, Duracell Inc., Clarios (Formerly Johnson Controls International PLC), VARTA AG, LG Chem Ltd, Tesla Inc. and EnerSys. These major manufacturers focus on improving technologies to develop advanced batteries with higher energy density and durability.
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