Increasing demand from the food and beverages sector and growing R&D activities is expected to drive the Global Ketone market in the forecast period 2024-2028. According to the TechSci Research report, “Ketones Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the 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 Important Factors of the Global Ketones Market
The key factor driving the growth of the 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 the working population to lose weight and build muscle are reasons for expanding the 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.
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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. The synthetic type segment is expected to hold the largest market share in the forecast period which is 57.70% in 2022. Owing to its properties, it can control appetite, and more constant energy, improve mental performance, and increased physical endurance which provides its advantages over bio-based ketone.
Based on supplement type, the market is categorized into ketone salts, ketone esters, ketone oil, and raspberry ketones. The 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. The food & beverages segment is expected to hold 36.10% of the market share in 2022 which is the 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 a glucose-ketone monitoring system. This latest technological development for tracking ketone biomarkers can help users optimize metabolism and improve 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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