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.).
Segmentation
Analysis:
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
Regional Analysis:
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.
@Get a Sample Report on L-Citrulline Industry Market https://www.marketresearchfuture.com/sample_request/799
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.
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