Ketones Market to grow at a CAGR of 4.89% and reach USD 1101.17 million by 2028
Increasing demand from food and beverages sector
and growing R&D activities is expected to drive Global Ketone market in the
forecast period 2024-2028.
According to TechSci Research
report, “Ketones Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Ketones market is
anticipated to upsurge at an impressive rate of 4.89% and reach up to USD
1101.17 million market in 2028, due to growing people’s preference towards
healthy foods. The key factor driving the growth for ketones market is
increasing demand from the nutraceutical and food and beverage industries for
use as supplements, food items, and nutrient drinks. The growing popularity of
the ketogenic diet in youth and working population to lose weight and build
muscle are reasons for expanding ketone market. Moreover, some exogenous ketone
pills are in high demand among athletes, which will fuel market expansion over
the projected period.
In 2021, Genomatica
Incorporation closed USD 118 million in funding to boost up the global
commercialization and expansion of their ecological products and capabilities
to reduce greenhouse gas emissions by 100 million tons, annually.
Environmental regulations on
limiting the emissions of volatile organic compounds (VOCs), from industrial
processes or manufacturing plants can hamper the market growth. These
regulations can help to reduce the environmental impact of VOC by promoting the
use of safer and more sustainable alternatives, which is an aspect that can further slow down
the ketone market growth.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global Ketones Market".
Global Ketone
Market is segmented based on type, supplement type, form, application, and
region.
Based on type,
the market is segmented into synthetic and bio. Synthetic type segment is expected to hold
the largest market share in the forecast period that is 57.70% in 2022. Owing
to its properties, it can control appetite, more constant energy, improved
mental performance, and increased physical endurance which provide its
advantages over bio-based ketone.
Based on
supplement type, the market is categorized into ketone salts, ketone esters,
ketone oil, and raspberry ketones. Ketone esters supplement type segment is
expected to hold the largest market share in the forecast period 2024-2028 with
43.03% in 2028. Using ketone esters can increase the use of fat during exercise
and preserve glycogen reserves until later in the exercise session.
Based on application, the market is fragmented into food &
beverages, cosmetics & personal care products, and others. Food
& beverages segment
is expected to hold 36.10% of the market share in 2022 which is highest
percentage in its segment. This is due to increasing awareness about healthy foods
such as ketone rich diet.
Regionally, North
America dominated the global ketones market in 2022 and is expected to continue
maintaining its dominance through 2028. The growing demand for ketones in
pharmaceuticals and the food and beverage industry is helping elevate the
ketones market in North America. The food industries and eateries in North
America are now adopting keto-based diet foods due to their increasing demand.
The number of obesity cases in North America is accelerating very rapidly due
to lifestyle changes, busy schedules, and high-stress levels. Keto diets are
based on low carbohydrate consumption, fulfilling the daily nutritional
requirements from healthy fats. Numerous websites online offer training, and
numerous social media sites advertise diet plans that include a ketogenic diet.
This is causing the market demand to increase. The advantages of ketone
supplements for the management of type-2 diabetes are probably going to have a
favorable effect on the market expansion. According to the U.S. Department of
Health and Human Services, 9.4% of the population, or 30.3 million individuals,
are projected to have diabetes in the United States. Ketones are also employed
for the treatment of arthritis, thus, increasing its demand in the
pharmaceutical Industry.
Major
companies operating in the global Ketones market are:
- BASF SE
- Solvay Specialty Polymers.
- Eastman Chemicals Co.
- ALTIVIA Ketones & Additives, LLC.
- Celanese Corporation
- AstaTech, Inc.
- Genomatica, Inc.
- Falcon Worldwide Chemical Inc.
- Limitless Venture Group, Inc.
- Ketone Aid Inc.
- HVMN Inc.
- Perfect Keto
Companies
operating in the market are following different strategies such as new product
launches, mergers and acquisitions, collaborations & partnerships, among
others in order to stay competitive and have an edge over other players
operating in the global ketones market. For instance, In June 2022, Abbott Laboratories
developed a wearable device named Lingo, offering glucose-ketone monitoring
system. This latest technological development for tracking ketone biomarkers,
can help users optimize metabolism and improve the body functioning.
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“The
demand for ketones is driven by their versatile applications in various
industries such as pharmaceuticals, food and beverage, solvents, coatings and
paints, and others. Ketones are extensively used in the pharmaceutical
industry, where they are used as intermediates in the production of drugs and
other pharmaceutical products. The increasing demand for pharmaceuticals across
the world is expected to drive the demand for ketones, creating huge prospects
of market growth during the forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Ketones Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Form (Dry v/s
Liquid), By Type (Synthetic v/s Bio), By Supplement Type (Ketone Salts, Ketone
Esters, Ketone Oil, Raspberry Ketones), By Application (Food & Beverage,
Pharmaceuticals, Cosmetic & Personal Care Products, Building &
Construction, Others), By Region, and Competition,
has evaluated the future growth potential of global ketones market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global ketones market.”
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