According to the Graphical Research new growth forecast report titled “Europe Coenzyme Q10 Market Size By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Estimated to Exceed USD 95 Million by 2026.
Increasing demand from the cosmetic sector due to its high value in the formulation of lotions, anti-aging creams, and various skincare products is expected to boost the market in the forecast period. Additionally, the post-COVID -19 situation is one of the major factors to foster the coenzymes Q10 demand in the market, owing to its antioxidants characterizes and Cell metabolism activities in various conditions. This will positively affect the market in the European region.
Coenzyme Q10 is used in the formulation of various drugs such as atorvastatin, lovastatin, and pravastatin which helps to lower the lipids and control the cholesterol in the body. It reduces the risk of heart-related conditions. Furthermore, it protects from cell damage and performs various metabolic functions such as synthesis and energy conversion. Owing to multiple applications in the pharmaceuticals industry the Europe coenzyme Q10 market is expected to reach over USD 28 million during the forecast timespan.
The Europe coenzyme Q10 market demand from the Coenzymes Q10 based dietary supplements sector is anticipated to grow at a CAGR of over 10% by 2026. Coenzymes Q10 is used to produce energy in the cells and helps to boost immunity. Also, improves exercise performance, fitness, and weight management. Furthermore, it is used in the diabetic, heart health problems, fertility, and migraines conditions. In the dietary supplements, coenzymes act as a catalyst, this leads to rising demand in the European region.
UK coenzymes Q10 market is anticipated to grow at a CAGR of over 10% in the forecast period. The technically advanced medical sector, growing population, and presence of key players in the country will further boost the Europe coenzyme Q10 market demand. Post-COVID-19 pandemic increases the demand for enzymes-based products and drugs will lead to foster the demand in this region. Furthermore, the geriatric population, disposable income, and increasing per capita expenditure on healthcare and wellness these factors are positively affecting the market growth. Change in lifestyles and increasing concern about health benefits related to coenzymes Q10 is likely to drive the demand in the European countries.
The major players include in the Europe region are DSM, Kaneka Corporation, Merck & Co NOW Foods, Nutritional Products, Sun Pharmaceutical Industries Limited, Avon Products, GlaxoSmithKline, Oriflamme Holding AG, Xiamen Kingdomway Group, Natural Organics, Hwail Pharmaceutical Company Ltd., PharmaEssentia Corporation, ZMC LLC, and Kaneka Corporation. Manufacturing companies are focusing on product innovation and development.