Jun 5, 2020 SOURCE: BusinessWire

Outlook on the Worldwide L Carnitine Market (2019 to 2027) - by Process, Product & Application - ResearchAndMarkets.com

The "L Carnitine Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Process; Product; Application" report has been added to ResearchAndMarkets.com's offering.

The global L-Carnitine market was valued at US$ 172.2 million in 2018 and is projected to reach US$ 262.6 million by 2027; it is expected to grow at a CAGR of 4.8% during 2019-2027.

L-Carnitine is a naturally occurring compound in the bodies of humans and animals which play the important role of shuttling fatty acids to and fro in the cells to produce energy. It is produced in the liver and kidneys. However, certain individuals are unable to produce or synthesize required amount of L-Carnitine owing to genetic conditions or defects.

Based on application, the L-Carnitine market is segmented into healthcare products, animal feed, functional drinks, and medicines. The healthcare products segment led the L-Carnitine market in 2018. Moreover, the functional drinks segment is projected to grow at a faster pace during the forecast period. L-Carnitine is used in the production of healthcare products like nutrient supplements and powder supplements for weight management, energy, and endurance. L-Carnitine used in diet supplements help in treating low blood levels.

The various chemical properties attributed to the L-Carnitine have led to an upsurge for its application in the healthcare industry that has favored the L-Carnitine market on a significant scale all over the globe. Due to Covid-19 outbreak, the online sales of L-Carnitine supplements is expected to grow which will boost the market in near future

In 2018, the growth of the L-Carnitine market in North America region was primarily attributed to rapid growth in the pharmaceuticals & dietary supplements and food and beverage industry in the US and Canada. Rising demand for healthy and nutritional food and beverages among the health-conscious consumers is the major factor driving the L-Carnitine market in North America. Additionally, the demand for anti-aging products is increasing owing to the increasing aging population in the region. L-Carnitine is used as an additive ingredient in animal feed industry, and growing awareness about the benefits of using L-Carnitine in animal feed has boosted the growth of L-Carnitine market in the North America region.

Reasons to Buy

Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the L Carnitine Market - Global Forecasts to 2027 - Covid-19 Impact and Analysis -, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Market Dynamics

Drivers

Growing Demand for L-Carnitine Supplements to Enable Efficient Conversion of Food into Energy
Rising Demand for Personalized Nutrition, Heart Health, and Athletic Performance

Restraints