The global L-Carnitine Market is expected to reach USD 247.3 Million by 2027, according to a new report by Reports and Data. The growth of the market is attributed to growing end-use applications of Carnitine (L-carnitine). Carnitine (L-carnitine) is popular for is role in energy metabolism. Carnitine (L-carnitine) is found in constituents usually incorporated in pet food formulations, though, the proportion of Carnitine (L-carnitine) may differ. The proportion of Carnitine (L-carnitine) is maximum in constituents derived from poultry and meat. The heart is a vital muscular organ that requires energy and nutrients for its proper functioning. On average, a human heart beats 72 bpm, whereas the heart of a dog beats at about 120 bpm, and that of a cat is nearly 180 bpm. Therefore, nutrient demands for pets such as cats and dogs may be likely to be much higher as compared to humans. It has been found that the heart functions mostly on fatty acids and, as a result, Carnitine (L-carnitine) to assist in meeting its energy requirements. Hence, the surging demand for Carnitine (L-carnitine) in animal feed is likely to drive market growth.
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According to a study conducted by the Association for Pet Obesity Prevention (APOP), around 50% of the cats and dogs are either overweight or obese. Also, with increase in the life span of pets, the challenges related to overweight disorders are likely to increase, resulting in several health issues.
Growing consumption of Carnitine (L-carnitine) to maintain a healthy lifestyle is playing an instrumental role in boosting the market demand. It is progressively consumed as a dietary supplement and as a weight loss supplement amongst the health-conscious people, which is anticipated to fuel the market over the forecast period. Additionally, surging consumption of meat in countries, including China and India, owing to the fast economic growth and a rise in the level of disposable income, is driving the market growth.
Some of the Leading Market Players Are Listed Below:
· Northeast Pharmaceutical Co. Ltd.,
· Biosint SPA,
· Cayman Chemical,
· Merck KGaA,
· Tokyo Chemical Industry Company Limited,
· Chengda Pharmaceutical Co. Ltd.
Production Method Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Chemical Synthesis
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Animal Feed
- Functional Food & Beverage
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All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The L-Carnitine Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the L-Carnitine Market.
The global L-Carnitine Market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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