Glutathione Market is Estimated to Witness High Growth Owing to Increasing Applications in Food and Beverage Industry
Glutathione is an antioxidant that helps protect cells from free radicals and oxidative damage. It plays a key role in cellular functions such as DNA synthesis and repair, protein synthesis, amino acid transport and enzyme reactions. Glutathione is commonly used as an additive in food and beverages to improve quality, nutritional value and shelf life of products. It is widely used in functional foods and drinks, nutritional supplements and processed foods for its antioxidant properties.
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 increasing demand from food and beverage industry is a major driver boosting growth of the glutathione market. Glutathione improves flavor and texture while retarding lipid oxidation and protein degradation in food products. It extends shelf life by protecting against oxidation and rancidity. Growing health consciousness and demand for functional foods has fueled consumption of glutathione supplements as an antioxidant. Additionally, rising prevalence of lifestyle diseases and aging population has increased uptake of glutathione supplements for antioxidant support. Furthermore, glutathione finds growing applications in dermatology, cosmetics, nutraceuticals and pharmaceuticals. This wide range of uses across industries will continue driving market expansion over the forecast period.
SWOT Analysis
Strength: Glutathione has wide applications in pharmaceuticals and health supplements. It helps remove toxins and heavy metals from the body. Glutathione production and formulations are well-established, making it easily available.
Weakness: High costs associated with glutathione production and purification processes limits widespread adoption. Dependence on agriculture for raw materials exposes producers to price and supply fluctuations.
Opportunity: Rising health awareness is boosting demand for supplements with antioxidants. Glutathione finds growing use in treating chronic diseases and conditions related to aging. Emerging economies offer new markets as preventive healthcare gains prominence.
Threats: Strict regulations pertaining to supplements impact production cycles and costs. Alternative antioxidants pose competition. Environmental issues in agricultural supply chains pose disruptions.
Key Takeaways
The Global Glutathione Market Size is expected to witness high growth over the forecast period of 2023 to 2030 backed by increasing demand for supplements with antioxidant properties. The market size is projected to reach US$ 274.28 Mn by 2023.
Regional analysis: North America dominates the market currently owing to sizeable health supplement consumption. Asia Pacific is likely to emerge as the fastest growing market supported by growing health awareness and disposable incomes in countries like China, India and Japan.
Key players: Key players operating in the glutathione market are 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. The market is competitive with these players focusing on new product developments and geographical expansion.
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