North American Coenzyme Q10 Market size is expected to reach USD 550 million by 2026, according to a latest forecast report by Graphical Research.
Growth in the demand for dietary supplements and rising consumer awareness about nutraceuticals has triggered the market growth. Moreover, growth in the cosmetics and pharmaceuticals industries has proliferated the market demand.
In terms of application, the dietary supplements dominated the North American coenzyme Q10 market with USD 220 million in 2019. Dietary supplements are becoming a major part of diets among individuals in United States and Canada. Consumer willingness on spending on nutraceuticals has been influenced by changing consumer preferences.
Consumers are spending more on dietary supplements which contain minerals, enzymes, and vitamins. Dietary supplements can be added to the foods, beverages, and cereals. Coenzyme (CoQ) 10 supplements are used for treating coenzyme Q10 deficiency. CoQ10 supplements are used for reducing the chances of heart failure. The consumption of CoQ10 has been triggered by growing consumption of dietary supplements, owing to rising consumer health awareness. These trends should fuel the dietary supplements industry to cross USD 55 billion by 2024.
Browse detailed statistical insights from the report, “North America Coenzyme Q10 Market Size By Application (Pharmaceuticals, Dietary Supplements, Cosmetics), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 - 2026” along with the table of contents (ToC) @
In terms of application, the pharmaceuticals segment is anticipated to grow at 8% between 2020 and 2026. The demand for pharmaceutical products in North America has increased owing to increase in the number of people suffering from diabetes, cardiovascular diseases, and blood pressure. This trend has influenced individuals to change their dietary patterns avoiding serious illness such as heart failure and cardiac arrests.
Coenzyme Q10 (CoQ10) is mainly used for treating cardiovascular diseases (CVDs) and muscle pain. CoQ10 is consumed orally for reducing the pain from muscle fatigue, tenderness, and sleep issues. Moreover, it is also used for reducing the adverse effects of chemotherapy. The demand for CoQ10 has increased owing to rising number of individuals sufferings from CVDs and cancer. Heart diseases have been one of the major causes of death in North America.
The number of people suffering from heart diseases has increased due to increase in the number of individuals with hypertension, caused by lack of exercise and healthy diet. In West Virginia and Alabama, United States, nearly 44% and 42% of adults suffered from hypertension respectively in 2019. Significant number of people having heart diseases has boosted the demand for pharmaceuticals to avoid sudden heart failure.
Increase in consumer awareness regarding health benefits of dietary supplements should trigger the CoQ10 market demand in North America. People are focusing on supplements which help them get essential nutrients, which food don’t offer. Utilization of CoQ 10 has increased among people sufferings from heart diseases, as it helps in avoiding sudden heart failures. These also help in improving heart health by increasing ATP creation in human body. Moreover, use of CoQ 10 for preventing skin damages from sun and aging. Growing spending on skin and personal care should accelerate the market growth.
Major players in the market include Kaneka Corporation, Healthy Origins, DSM, NBTY, NOW Foods, Natural Organics, Tishcon Corp., Novartis, GlaxoSmithKline, Johnson & Johnson, and Pfizer.
The North America coenzyme Q10 market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
North America Market, By Application
- Dietary Supplements
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