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The Ketones Market Registered US$ XX Mn In 2019 And It Is Estimated To Reach More Than US$ 691.1 Mn By 2028, Likely To Grow With A CAGR Of 5.9 % During The Forecast Period
The global ketones market has is growing at a moderate CAGR and is expected to grow rapidly in the coming years. The key factor that is fuelling the growth of the global market includes the multifunctionality of ketones, the rise in health concerns, and the inclination towards convenience food.
Rising Health Concerns Across the Globe is Driving the Growth of Global Ketones Market Over the Forecast Period
The major factor driving the growth of the global ketones market is the rising concern to lead a healthy lifestyle among consumers. Ketones are made from stored fats when glucose is low at the time of prolonged fasting. Ketones have major applications in the pharmaceutical industry. Ketones consist of steroid hormones and antibiotics which enable then to be used in synthetic pharmaceutical products. Additionally, ketones offer superior advantages than other fuel sources. Ketones enable the maintained glucose level in blood and do not arouse insulin secretion, which is not possible with carbohydrates. Ketones need lesser processing than glucose in order to harness energy. Also, ketones help in repairing damaged DNA and slow down the aging process. Ketones help in minimizing the risk for several diseases including cardiovascular disease, metabolic disease, and diabetes.
Moreover, ketones help in boosting physical and metabolic health by providing potent fuel to muscles. The ketones also help in improving brain health as it provides a neuroprotective effect which advances the brain function and offers shield in contradiction of age-related cerebral decline.
The above-mentioned factors are anticipated to propel the growth of the global ketones market during the forecast period.
Supplement Segment Dominates the Global Market
On the basis of application, the supplement segment dominates the global ketones market, by holding substantial market share in 2019. This is mainly due to the rising adoption of ketones supplements among athletes and sports persons across the region. Also, consumers are becoming more health-conscious which leads them to invest in healthcare products.
Solid Segment Dominates the Global Market Owing to Easier Availability
By form, the solid segment is anticipated to be the dominant segment throughout the period of the research study. The solid form of ketones is easily available and convenient to carry if compared with liquid or semi-liquid form. Also, it offers better efficacy than other forms of ketones. If the liquid ketones are used then an additional blender is needed to mix up all the supplements whereas solid ketones do not require any blender, hence it is easy to use. Therefore, the adoption rate of solid ketones is comparatively high which supports the growth of the segment.
North America Dominates the Global Market Owing to Easier Availability
In terms of region, North America dominates the global market by holding a larger market share in 2019. The region accounted for 34.55 % market share in 2019. The U.S. is anticipated to be the largest market in North America Ketones market. This is mainly due to the rising number of obesity cases across the region. AS per U.S. Centers for Disease Control and Prevention (CDC), the estimated annual medical cost of obesity in the United States was $147 billion in 2008 U.S. dollars; the medical cost for people who have obesity was $1,429 higher than those of normal weight." This is resulting in the rising prevalence of ketone-based diets across the region.
Asia Pacific is projected to show impressive growth in the coming years. The restaurants and eateries are offering ketone-based food and supplements in order to cater to the high demand from consumers.
Key Players Are Focusing On Investments in Research & Development Activities to Gain Competitive Advantages
The companies are focused on research and development activities in order to produce innovative end-product which will help them to enhance their presence in the global ketones market. The companies are continuously launching new products to achieve technical competence. Some of the instances are stated below.
In June 2019, LifeSense products announced the launch of their product line. The product was fully-domestically developed named BHB Exogenous Ketones Salts.
In January 2019, SlimFast launched its keto product line branded as Slimfast Keto, which contains delicious meal replacement keto bars and shakes.
Few prominent players operating in global ketones market include Perfect Keto, Ketond Nutrition LLC, HVMN Inc., Zenwise Health, BPI Sports, Ancient Nutrition, Ketologic, Nutrex Research, Pruvit, Union Pharmpro Company Ltd., Ketone Aid Inc, Volken Chemicals, Compound Solution Inc., Boli Naturals, Sapien Body, Keto & Company, Zhou Nutrition, Ion Labs, Know Brainer Foods, and Finaflex.
Global Ketones Market by Supplement Type
- Ketone Salt
- Ketone Oil
- Ketone Esters
- Raspberry Ketones
Global Ketones Market by Form
- Liquid & Semi-Liquid
Ketones Market by Application
- Food & Beverages
- Cosmetic & Personal Care Products
Ketones Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America