Carnitine Supplements Market To Reach $316.5 Million By 2031, Growing At 5.1% CAGR

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Rising awareness of health benefits drives growth in the global carnitine supplements market, projected to expand due to increasing obesity.

Carnitine supplements play a crucial role in converting fatty acids into energy, addressing rising global concerns over obesity and metabolic health.” - Allied market Research

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 10, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Carnitine Supplements Market ," The carnitine supplements market size was valued at $194.50 million in 2021, and is estimated to reach $316.5 million by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

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Carnitine supplements play a vital role in the metabolic process, facilitating the conversion of fatty acids into energy in mammals. The global market for carnitine supplements is projected to experience growth, driven primarily by the escalating prevalence of excessive weight gain and obesity. The anticipated factors contributing to the expansion of the carnitine supplement market in the coming years encompass increasing awareness among consumers about their health, rising concerns among the younger population about their aesthetic appearances, a growing desire for a healthy and active lifestyle, and an upsurge in consumer spending on health and wellness products and services.

The surge in the global obese population has prompted a notable shift in consumer focus towards fitness and sports activities. According to the World Health Organization (WHO), obesity has attained epidemic proportions on a global scale, with approximately 2.8 million people succumbing to obesity-related issues annually worldwide. Formerly associated mainly with high-income nations, obesity is now prevalent in low and middle-income nations as well. Consequently, the escalating prevalence of obesity and excess weight gain, coupled with heightened consumer awareness of carnitine supplements and an increasing emphasis on health, is expected to drive the demand for carnitine supplements during the forecast period.

In recent years, a surge in the prevalence of diabetes, obesity, excessive weight gain, and other chronic diseases has been observed due to shifts in consumer behavior, particularly in dietary choices and sedentary lifestyles. The escalating consumption of nutraceuticals has substantially fueled market growth, and this trend is expected to persist throughout the forecast period. Additionally, the occurrence of malnourishment among children is poised to positively influence the global carnitine supplements market.

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The carnitine supplements market is subject to thorough analysis, categorized based on flavor, form, end user, distribution channel, and region. In terms of flavor, the berry segment dominated the market in 2021, securing approximately 23.8% of the market share, attributed to the perceived health benefits and nutritive qualities associated with berries. The liquid form emerged as the largest segment in 2021, owing to its perceived efficiency and rapid absorption in the human body. Its over-the-counter availability and ease of consumption have propelled the rapid growth of liquid carnitine supplements. The demand for liquid supplements is anticipated to further rise among children due to their ease of ingestion.

Among end users, women constituted the leading segment in 2021, driven by heightened concerns about physical appearances and increased spending on improving aesthetics and a healthy diet. Regarding distribution channels, online platforms are expected to witness the fastest growth during the forecast period, attributed to quick accessibility, detailed product information, offers, and usage instructions. The convenience of home delivery and time-saving features provided by online retailers have further fueled this expansion. The trend of buying carnitine supplements online is on the rise, fueled by the proliferation of online portals and the availability of offers and discounts in both developed and developing countries.

Geographically, North America dominated the global market in 2021, experiencing a significant rise in obesity and lifestyle-related illnesses due to factors such as increased disposable income, unhealthy diets, and access to processed and ready-to-eat foods. North America leads globally in terms of the obese population. Carnitine supplements have gained popularity in the region as more individuals become aware of their benefits for physical and overall health.

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Major companies in the carnitine supplements industry include Allmax Nutrition, Inc., aSquared Nutrition, Advanced Orthomolecular Research (AOR), Glanbia PLC, Now Foods, GNC Holdings, Sports Supplements Ltd., Scorpion Supplements, 1 Up Nutrition, Designs For Health, Lonza Group, eSupplements LLC., Eat Me Supplements, Northeast Pharmaceutical Group Co., Ltd., and Ceva Sante Animale. These manufacturers continually engage in various strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and capitalize on the prevailing opportunities in the carnitine supplements market.

The key findings of the study on carnitine supplements market are as follows:

📍Market Size and Growth:
- The carnitine supplements market was valued at $194.5 million in 2021.
- It is anticipated to reach $316.5 million by 2031.
- The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.

📍Flavor Segmentation:
- The cherry segment is projected to experience the fastest growth.
- It is estimated to register a CAGR of 5.9% during the forecast period.

📍Form Segment Insights (2021):
- In 2021, the liquid segment accounted for $79.9 million.
- This segment constituted 41.1% of the global carnitine supplements market share.

📍Regional Analysis (2021 and Forecast):
- In 2021, the U.S. stood out as the most prominent market in North America.
- The U.S. market is expected to reach $80.7 million by 2031.
- The projected growth for the U.S. market is at a CAGR of 4.3% during the forecast period.

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These findings provide insights into the current market valuation, anticipated growth rates, and significant trends within the carnitine supplements industry. The cherry segment's noteworthy growth and the dominance of the liquid form in 2021 are highlighted, along with the substantial market presence and future growth projections for the U.S. in the North American region.

📝 About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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