The global L-Carnitine market was valued at ~ USD 670.7 million in 2016. The market is anticipated to grow at compound annual growth rate of in between 4.2% to 5.2 % from 2018 to 2023. The market size estimated and forecasted in terms of value (USD million) and volume (tons) from 2017 to 2023. The global market is dominated by the North American region followed by Europe and Asia Pacific. The Asia pacific market is expected to expand at highest growth rate than among other regions.
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Key driving factors and use of L-Carnitine market: L-Carnitine compound is amino acid produces energy, helps in fat burning and enhances functionality of the mitochondrion. It is produced by the mammal’s body by utilizing amino acids such as, lysine and methionine, and can also be gained from red meat. The factors driving the global L-Carnitine market such as, increasing use of l-Carnitine in the production of function food and beverages, increasing obese population, raising awareness about the animal health etc.However the major challenge facing by L-Carnitine manufactures is growing trend of vegan and vegetarian eating habit.
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The global L-Carnitine market is mainly segmented on the basis of type of Carnitine compounds, applications and by region/country. On the basis of types, the market is mainly segmented into L-Carnitine tartrate, Base L-Carnitine, L-Carnitine fumarate, Acetyl L-Carnitine and others. Further the market is segmented on the basis of applications such as, Pharmaceuticals, Dietary Supplements, Functional Food & Beverages and Animal Feed. Report covers key regions such as, North America, Europe, Asia-Pacific and Rest of the world region include Latin America, Middle East and Africa. Global report includes detailed analysis of key drivers, restraints, competitive landscapes include (mergers, acquisitions, new product launches, joint ventures) and key market trends.
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