L-Carnitine Market Size Worth $233.8 Million by 2025 | CAGR

4.8%: Grand View Research, Inc.

SAN FRANCISCO, Dec. 5, 2019 /PRNewswire/ -- The global L-carnitine market size is expected to reach USD 233.8 million by 2025, expanding at a CAGR of 4.8%, as per a new report by Grand View Research Inc. Growing consumer awareness regarding product benefits, along with increasing demand from end-use industries such as pharmaceutical, nutraceutical, and animal feed, is projected to drive the market over the forecast period.

L-carnitine and its derivatives are used for numerous applications including male infertility, kidney treatment, cardiovascular diseases, weight reduction, and bone mass. It is also used in various products including animal feed, health supplements, functional drinks, medicines, and other nutraceutical products.

Key suggestions from the report:

• Increasing preventive healthcare in major economies across the globe, including U.S., China, and India, has led to rising consumption of functional drinks, which in turn, is expected to propel product demand
• The market exhibits production of L-carnitine through biotechnological techniques using micro-organisms or enzymes. These processes use achiral precursors or racemic mixtures as raw materials for extraction of L-carnitine and offer the highest yield as compared to other means
• Increasing demand for animal feed from emerging economies such as China, India, and Vietnam are expected to drive the feed grade product segment over the forecast period
• Key L-Carnitine Market players include Lonza Group Ltd., Northeast Pharmaceutical Group Co., Ltd. (NEPG), Biosint S.p.A., Cayman Chemical, Merck KGaA, Tokyo Chemical Industry Co., Ltd., Ceva Santé Animale S.A., Kaiyuan Hengtai Chemical Co., Ltd., Chengda Pharmaceuticals Co. Ltd., Huanggang Huayang Pharmaceutical Co. Ltd., and Hubei Yuancheng Technology Co. Ltd.
• Manufacturers in the market enter into contracts with suppliers and buyers, thereby gaining a competitive edge in the market. They have also been investing heavily in R&D and capacity expansions to increase their market share.

Read 125 page research report with ToC on "L-Carnitine Market Size, Share & Trends Analysis Report By Process (Bioprocess, Chemical Synthesis), By Product (Food & Pharmaceutical Grade, Feed Grade), By Application, By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/l-carnitine-market