Ketones Market To Reach USD 31.03 Billion By 2031 Driven By Rising Demand For Ketone Products

(MENAFN- EIN Presswire)

Ketones Market

"Dynamic Solutions: Exploring the Ketones market - Trends, Applications, and Innovations Across Diverse Industries."

TEXES, AUSTIN, UNITED STATES, June 11, 2024 /EINPresswire / -- The SNS Insider report estimates the Ketones Market size at USD 23.38 billion in 2023, with a projected CAGR of 3.60% to reach USD 31.03 billion by 2031.

The rising desire for personal grooming products is expected to drive the growth of the worldwide ketones market. Increased incorporation of food supplements into diets is set to further fuel global market expansion. Additionally, the significant uptake of ketone supplements by athletes and other sports enthusiasts is forecasted to drive market growth on a global scale. Moreover, the increasing use of ketones in personal care products and cosmetics is expected to lead the market's growth globally. For instance, acetone, a type of ketone, is widely utilized in acetophenones.

Furthermore, the growing demand for skin-friendly, natural, and herbal ingredients is poised to enhance the global market expansion. Rapidly changing lifestyles, coupled with increasing consumer awareness of the health benefits associated with product usage, are expected to significantly boost market expansion worldwide.

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Some of the Key Players Included are:
The major key players are Ketone Aid Inc., Pruvit, Ketologic, Perfect Keto, Caldic B.V., HVMN Inc., Keto & Company, Ancient Nutrition, Genomatica, Compound Solution Inc., Zhou Nutrition, BPI Sports, Boli Naturals, and other key players are mentioned in the final report.

Segment Analysis
By Type, Ketone oil segment dominated the global ketones market in 2023 with a highest market share of over 54% due to antioxidant, anti-microbial, and anti-inflammatory capabilities. By Form, Solid segment dominated the market with a market share of about 57% in 2023. This dominance is due to the factors such as easy availability of ketones and suitable to carry as compared to liquid and semi-solid forms. By Application, Dietary Supplements accounted for highest revenue share with a significant growth rate. The dominance is due to factors such as growing consumer awareness regarding personal health.

By Supplement Type
Ketone Salts
Ketone oils
Ketone Esters
Raspberry Ketones

By Form
Solid
Liquid
Semi-solid

By Application
Dietary Supplements
Food & Beverages
Cosmetics & Personal Care
Others

Trend towards Product Innovation
Key players in the Ketones market are driving growth through product innovation. For instance, EKF Diagnostics introduced the Stat-Site WB handheld analyzer in March 2021, offering rapid testing for beta-ketones and glucose. Another trend is the development of drinkable ketones, exemplified by Health Via Modern Nutrition's Ketone-IQ launched in January 2022, targeting improved metabolic states and benefits such as sustained energy and mental clarity.

Recent Developments Showcase Technological Advancements and Strategic Partnerships

January 2023: Tecton introduced the launch of the world's inaugural ketone hydration beverage. This pioneering drink harnesses the potential anti-inflammatory and antioxidant properties inherent in ketone esters.

January 2023: BASF revealed plans to increase its ketones production capacity in China, aiming to satisfy the rising demand for ketones in the Asia-Pacific region.

June 2022: Abbott is developing an advanced bio-wearable device that continuously monitors glucose and ketone levels, earning FDA's breakthrough device designation.

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Russia-Ukraine War Impact on Ketones Market

The Ketones market has been significantly impacted by the Russia-Ukraine war, primarily due to disruptions in the global supply chain and geopolitical tensions affecting trade dynamics. With Ukraine being a major producer of key agricultural commodities like grains, any conflict-related disruptions in the region could potentially affect the production and availability of raw materials used in ketone product manufacturing. Heightened geopolitical uncertainties have also led to fluctuations in currency values and trade policies, impacting market stability and investor confidence. Consequently, companies in the Ketones market are closely monitoring the situation and implementing contingency plans to mitigate risks associated with supply chain disruptions and market volatility stemming from the Russia-Ukraine conflict.

Asia Pacific Dominated with Revenue Share More Than 55% in 2023 Driven by Rapid Awareness in Health Wellness

The Asia-Pacific Ketones Market is expected to possess for dominant revenue share, driven by various key factors. An escalating trend toward health and wellness awareness across the region is leading consumers to embrace ketogenic diets and products containing exogenous ketones. This lifestyle shift, alongside increasing disposable incomes, is driving up demand for ketone-based supplements, thus fueling market expansion. Furthermore, the prevalence of obesity and associated health concerns in select Asia-Pacific countries is prompting a greater emphasis on weight management and alternative dietary approaches, further boosting the adoption of ketogenic diets and ketone supplements. Additionally, the burgeoning sports and fitness culture in the region is contributing to market growth, as ketones are increasingly acknowledged for their potential to enhance endurance and energy levels, making them attractive inclusions in sports nutrition products.

Key Takeaways:
The global Ketones Market is poised for significant growth fueled by growing awareness of the health benefits associated with ketogenic diets.
Strategic partnerships, collaborations, product launches, and developments are some of the strategies adopted for the growth in the market.
The European ketones industry is expected to grow rapidly, driven by increased production of personalized cosmetics and rising health awareness among consumers. Key players in countries like the UK, France, and Germany will fuel this growth.

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