L-Citrulline Market Analysis, Future Growth, Business Prospects and Forecast to 2027
Author : Sneha J | Published On : 21 Apr 2021
L-citrulline Market Overview:
The Global L-citrulline Market is poised to touch a valuation of USD 40,213.9 million by 2023, as per the latest report by Market Research Future (MRFR). It was previously worth USD 28,097.9 million in 2017. L-citrulline is an organic compound derived from plants and animals which has gained widespread attention owing to its tremendous health benefits. It is the natural form of citrulline. Increasing use of L-citrulline as a nutritional supplement in the food & beverage industry is projected to drive the market growth from 2018 to 2023 (forecast period). This is buttressed by the rising demand for energy drinks and healthy snacks in recent years. Rising consumer awareness amid the health-consciousness wave enveloping consumers is predicted to spike the market demand till 2023.
The descent noticed in livestock production can impede market growth. But the adoption of citrulline malate in cosmetics and personal care sectors can offer avenues for the L-citrulline market to expand in size.
L-citrulline Market Top Key Players:
The L-citrulline market is highly competitive in nature with the entry of new players. Easy availability of feedstock and the huge demand by consumers is likely to favor them in the long run. This is exemplified by the establishment of a new production line by CJ CheilJedandg, a South Korean firm, in Indonesia to increase its reach as well as double its capacity of L-arginine and L-citrulline.
Prominent players operating in the L-citrulline market include Premium Ingredient Co., Ltd. (China), Newseed Chemical Co., Limited (China), Santo Jiahe Biotech (China), TCI Chemicals Private Limited (India), Ningbo Sinorigin Bio-Products Co., Ltd. (China), Merck KGaA (Germany), Kyowa Hakko Bio Co. Ltd. (Japan), Wuhan Soleado Technology Co., Ltd. (China), MH2 Biochemical Co., Ltd. (South Korea), and Nutra Green Biotechnology Co., Ltd. (U.K.).
The food & beverages segment dominated the market in 2017 with 36% share, followed by pharmaceuticals. It was valued at USD 10,608.8 million in the same year. It can enjoy 5.46% CAGR over the forecast period to touch a value of 13,906.8 million by 2023 and attain a demand of 374.2 tons in the same year. Demand for functional beverages can augment the market size dramatically till the end of the forecast period.
The pharmaceutical segment is touted to register the highest CAGR of 6.9% during the review period. This can be credited to the use of the compound as an API for manufacturing drugs. It can accumulate close to 369.6 tons in demand by 2023.
On the other hand, the agriculture/animal feed can exhibit 6.20% CAGR to reach a valuation of USD 9,546.5 million by 2023. While the cosmetics & personal care segment can accrue USD 2,925.8 million at 5.69% CAGR over the assessment period.
Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/l-citrulline-market-799
The worldwide L-citrulline market covers the latest trends and opportunities across Latin America, North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region accounted for the largest market share in 2017, followed by North America, Europe, MEA, and Latin America. Emerging economies of Thailand, China, and India coupled with aware consumers is likely to spur the market demand in the region. It can touch USD 18,894.7 million by 2023 owing to changing dietary habits of consumers and the increased per capita income levels.
The North America L-citrulline market is predicted to exhibit 5.32% CAGR over the forecast period to reach a size of USD 8,320.7 million by 2023. High prevalence of obesity and cardiovascular diseases coupled with a well-established healthcare framework is likely to induce market demand till 2023. The U.S. and Canada are major contributors to this market.
The European region is led by Germany and presence of established food & beverage manufacturers. Investments in cosmetics coupled with the expanding personal care sector can fuel the demand for L-citrulline in the forthcoming years.
The Latin American market is driven by the demand for the compound in drugs and the huge quench for functional beverages. It can exhibit a CAGR close to 6% to touch a size of USD 2,575.8 million by 2023. On the flip side, the MEA market can thrive owing to the booming food & beverage, cosmetics, and personal care industries. It is facilitated by the increased spending power of consumers and rapid urbanization.
NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.