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Market Size – USD 463.4 Million in 2020, Market Growth – at a CAGR of 6.1%, Market Trends - High demand for ketones among athletes and fitness enthusiasts
NEW YORK , NY, UNITED STATES, April 24, 2022 /EINPresswire.com / -- The global ketones market is expected to reach USD 745.2 Million in 2028 and register a revenue CAGR of 6.1% over the forecast period, according to a latest report published by Reports and Data. Key factors driving market revenue growth are rising number of health-conscious people across the globe, increasing demand for organic and packaged food, and higher awareness about various health benefits of consuming ketones-based products.
Rising prevalence of chronic diseases such as diabetes, cardiovascular disorders, cancer, and obesity due to lifestyle changes and unhealthy eating habits. Obesity is one of the leading causes of death as these people are more prone to various diseases and health conditions. In order to maintain healthy lifestyle, people around the globe are focusing on changing dietary patterns and are shifting towards healthy lifestyle. Factors such as increasing consumption of convenience food, rising disposable income, and higher adoption of healthy lifestyle are leading to higher demand for ketones. Various major players are focusing on developing and introducing advanced ketones supplements and products to cater to rising consumer demand. Revenue growth of the global market is also attributed to factors such as rising demand for personal grooming products, increasing preference for ketone-based drinks over caffeinated drinks, and higher investments in research & development activities in the field.
However, high investments required for research & development projects, availability of ketone products in a wide range of flavors, low demand for costly ketone supplements in underdeveloped countries, and side-effects associated with long term use of these supplements are factors that could hamper global market revenue growth to a certain extent.
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Some key highlights from the report:
Based on type, raspberry ketone segment is expected to register a robust revenue CAGR over the forecast period, owing to increasing prevalence of obesity, rising demand for organic and immunity boosting food, higher focus on personal appearance, and increasing usage of raspberry ketones in cosmetics and personal care products.
Among forms, solid segment is expected to account for a large revenue share between 2021 and 2028. Solid ketones are highly preferred over liquid and semi-liquid forms due to better shelf life, easy handling and storage, and high absorption capacity.
Based on application, supplements segment accounted for the largest revenue share in 2020. Factors such as increasing consumer focus on weight loss, higher prevalence of various chronic diseases, increasing inclination towards healthy lifestyle, awareness about benefits of ketone supplements, and increasing usage of these supplements by athletes and sportspersons are driving revenue growth of this segment.
Asia Pacific is expected to register a robust revenue CAGR over the forecast period, owing to increasing adoption of healthy lifestyle, growing incidence of cancer, obesity, as well as heart problems, rising demand for nutrient-rich food, and increasing elderly population. Other factors such as rising disposable income, improving standard of living, and increasing investments in R&D activities to develop enhanced products are fueling market growth in Asia Pacific.
North America is expected to account for the largest revenue share in the global market between 2021 and 2028, owing to presence of many key players, increasing number of health-conscious people, availability of various ketone-based products across the region, and increasing prevalence of obesity, cardiovascular diseases, diabetes, and cancer. In addition, high focus on developing new and enhanced products, increasing consumption of prepared food, and rising demand for organic cosmetics and personal care products are supporting North America market growth.
Some major companies profiled in the market report are Perfect Keto, HVMN Inc., BPI Sports, KetoLogic, Pruvit, Ketone Aid Inc., Compound Solution Inc., Sapien Body, Zhou Nutrition, Know Brainer Foods, Finaflex, Ion Labs, Keto & Company, Boli Naturals, Volkem Chemicals Pvt. LLP, Union Pharmpro Company Ltd., Nutrex Research, Ancient Nutrition, Zenwise Health, Juvenescence Ltd. and Ketond Nutrition, LLC.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Ketones Market Segmentation:
Type Outlook (Revenue, USD Million; 2018-2028)
Ketone Salts
Ketone Oil
Ketone Esters
Raspberry Ketone
Form Outlook (Revenue, USD Million; 2018-2028)
Liquid
Solid
Semi Liquid
Application Outlook (Revenue, USD Million; 2018-2028)
Food & Beverage
Supplements
Cosmetics & Personal Care
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Regional Outlook:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Tushar Rajput
Reports and Data
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