The L-carnitine market is projected to grow at a considerable CAGR of around 4% during the forecast period (2020-2026). The proper intake of L-carnitine on daily basis facilitates weight management, which is the primary cause of obesity. The L-carnitine supplements are used to offer relief in obesity-related disorders such as diabetes, high blood pressure, heart diseases, and stroke among others. The global adult diabetic population was 425 million in 2018 with the prevalence rate reaching 8.5% as per World Health Organization (WHO). Over 1.6 million mortalities occurred due to diabetes across the globe. L-carnitine aid to prevent damage caused by too much sugar in the body, therefore growing diabetes patients encourages the demand for L-carnitine. 

Moreover, L-carnitine membrane-stabilizing properties maintain healthy lactate dehydrogenase activity of cardiovascular cells, providing a protective effect that also has significant application in cardiac support. Apart from this, the rising concerns related to the quality and safety of meat is promoting the adoption of the L-carnitine supplements in the animal feed. Improved growth performance and better reproduction process are among the key benefits of using the L-carnitine supplements in the animal feed, which in turn is driving its market growth. The L-carnitine is used in the feed of different animals such as dogs and cows to expand their average gain. The growing animal feed industry is likely to augment the growth of the L-carnitine market.

Segmental Outlook  

The L-carnitine market is segmented on the basis of process type, product type, and application. Based on the process type market is segmented into bioprocess and chemical synthesis. Bioprocess is anticipated to hold major market share based on process type. The high yield capacity of this process is a key factor contributing to the high share of the market segment. Based on product type, the market is segmented into food & pharmaceutical grade and feed grade. Based on the application, the market is segmented into animal feed, healthcare products, functional drinks, and others.

Feed Grade to Exhibit Considerable Growth Based on Product Type

Food & pharmaceutical grade products are expected to hold a major market share based on the product type. The high usage of the food & pharmaceutical grade for humans is a key factor contributing to the high share of the market segment. Based on product type, the feed grade is anticipated to showcase a considerable CAGR during the forecast period. The growing adoption of feed grade as a key ingredient in animal feed is anticipated to contribute towards the high growth of the market segment. Weight management and metabolism development is a key advantage of using L-carnitine in the animal feed. 

Global L-Carnitine Market Share by Product Type, 2019 (%)

Regional Outlook 

The global L-carnitine market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to hold considerable market share during the forecast period. The US is anticipated to hold a major market share in the North American market. The growing obese population developed food & beverage and pharmaceutical industry along with growing awareness among population related to the benefits of l-carnitine supplements is anticipated to make a huge contribution towards the high share of the market in the region. The low-consumer awareness related to the available products in the market along with the low purchasing power of low-income economies of the Middle, East, and Africa region may restrain the growth of the global market. 

Global L-Carnitine Market Growth, by Region 2020-2026

Asia-Pacific will augment with the significant growth rate in the l-carnitine market

Asia-Pacific is expected to make a major contribution to the growth of the global L-carnitine market. The increasing production capacity of manufacturers, easy availability of low-cost raw material for manufacturing, rising food standards along with the considerable rise in awareness among people related to health concerns are among the major factors that are augmenting the growth of the market in the Asia-Pacific region. According to the International Disease Foundation, around 73 million people in India are suffering from diabetes. According to the WHO, it is expected that India will go pass China by 2030 both in terms of population and diabetic population. The market for medicines for the treatment of diabetes is boosting in the country that is providing an opportunity for L-carnitine supplements, thereby contributing towards the growth of the market in the Asia-Pacific.

Market Players Outlook

The global L-carnitine market is characterized by the presence of several players that are developing and marketing carnitine-based products to cater to a wide range of customers across the globe. Some of the key players include Lonza Group Ltd., Northeast Pharmaceutical Group Co., Ltd., Kaiyuan Hengtai Chemical Co., Ltd., Merck KGaA, Cayman Chemical, Tokyo Chemical Industry Co., Ltd., Ceva Santé Animale S.A., Biosint S.p.A., Chengda Pharmaceuticals Co. Ltd., and Hubei Yuancheng Technology Co. Ltd. among others. These market players adopt various strategies such as product launch, partnerships and collaborations, mergers and acquisitions, and geographical expansion to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global L-carnitine market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.