What is the global market size of CoQ10 Supplement Market?

CoQ10 Supplement Market size was valued at USD 536.63 million in 2021 and is poised to grow from USD 621.95 million in 2022 to USD 1156.48 million by 2030, growing at a CAGR of 10.5% in the forecast period (2023-2030).

CoQ10 Supplement Market Size, Share, Growth Analysis, By Type(Soft Capsule, Chewable Tablets), By Application(Pharmaceuticals, Dietary Supplements, Cosmetics), By Region - Industry Forecast 2024-2031

Report ID: SQSG30A2001 | Region: Global | Published Date: February, 2024
Pages: 272 | Tables: 62 | Figures: 75

CoQ10 Supplement Market Regional Insights

In 2021, North America held the largest global CoQ10 market share. Cosmetic products enriched with coenzyme Q10 give various skin benefits, including providing energy to skin cells, which is essential to repair and renew skin cells, reducing sun damage, and supporting the formation of elastin and collagen. Therefore, growing awareness of the benefits of CoQ10 among cosmetic makers in the United States and Canada has boosted demand for the CoQ10 market in the region in recent years.

The Asia Pacific emerged as the fastest growing market for coenzyme Q10 in recent years and is predicted to grow at 10.9% CAGR over the forecast period. Increasing awareness regarding health and other benefits of the product and transitioning customer lifestyles, in developing economies such as India and China are driving the regional coq10 supplement market growth.

CoQ10 Supplement Market Report Snapshots

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CoQ10 Supplement Market size was valued at USD 536.63 million in 2019 and is poised to grow from USD 621.95 million in 2023 to USD 1156.48 million by 2031, growing at a CAGR of 10.5% in the forecast period (2024-2031).

The CoQ10 supplement market is relatively fragmented, with a high level of competition. Few large players, like Kyowa Hakko USA Inc, Gnosis S.p.A., and Nature’s Bounty, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Kaneka Corporation ', 'Now Foods', 'H2One Co., Ltd.', 'NBTY Inc.', 'GNC Holdings Inc.', 'Nature's Bounty, Inc.', 'Healthy Directions, LLC', 'Solgar Inc.', 'Nutraceutical Corporation', 'Pharma Nord APS', 'Source Naturals Inc.', 'Jarrow Formulas Inc.', 'Life Extension', 'Douglas Laboratories', 'Tishcon Corp.', 'Twinlab Consolidated Holdings Inc.', 'Swanson Health Products', 'Pure Encapsulations', 'Garden of Life', 'Thorne Research'

Increasing the use of CoQ10 in the areas of cognitive illness, eye care, cancer, and heart disease is the major driving factor for the CoQ10 supplement market. Growing awareness regarding the benefits of products is increasing eh acceptance of healthy dietary supplements and this will drive the CoQ10 supplement market during the forecast period.

Coenzyme Q10 is predominantly used in the dietary supplement industry due to the high demand for dietary supplements containing coenzyme Q10, which can be used as an effective treatment for a variety of heart conditions. Regulatory agencies such as the Food and Drug Administration have certified CoQ10 as a Generally Recognized as Safe (GRAS) food ingredient (FDA).

In 2021, North America held the largest CoQ10 market share. Cosmetic products enriched with coenzyme Q10 give various skin benefits, including providing energy to skin cells, which is essential to repair and renew skin cells, reducing sun damage, and supporting the formation of elastin and collagen. Therefore, growing awareness of the benefits of CoQ10 among cosmetic makers in the United States and Canada has boosted demand for the CoQ10 market in the region in recent years.

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CoQ10 Supplement Market Size, Share, Growth Analysis, By Type(Soft Capsule, Chewable Tablets), By Application(Pharmaceuticals, Dietary Supplements, Cosmetics), By Region - Industry Forecast 2024-2031

CoQ10 Supplement Market Regional Insights

CoQ10 Supplement Market Report Snapshots

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