The ketone market is projected to grow at a CAGR of 6.3% from 2019 to 2025.
The global ketone market is estimated to be valued at USD 443 million in 2019 and is projected to reach USD 640 million by 2025, recording a CAGR of 6.3%. The increase in the consumption of convenience food, rise in health consciousness among consumers, and multifunctionalities of ketones are some of the major factors that have led to an increase in its applications and surge in demand for ketone supplements. These factors are projected to drive the growth of the global ketone market.
The supplement segment is projected to be the largest segment in the ketone market during the forecast period.
Ketone increasingly finds application in supplements, food & beverages, and cosmetics & personal care products. It is gaining popularity as a popular solution for weight loss. In addition, the exogeneous ketone supplements are projected to enhance the performance of athletes and sportsperson, which makes it a popular alternative among sports enthusiasts as compared to caffeinated energy drinks, which have certain side effects as well. With the increase in the trend of healthy living and the rise in disposable income, consumers are encouraged to spend on luxury food products, apart from the conventional source of nutrients.
The ketone salts segment to witness the fastest growth in the market during the forecast period.
By supplement type, the ketone market is segmented into ketone salts, ketone esters, ketone oil, and raspberry ketones. The ketone salts segment held the largest market share, in terms of value and volume, in 2018. This segment is projected to witness high growth due to the increasing consumer preferences, as various companies are focusing on marketing their products. As compared to ketone esters, extraction procedures for ketone salts are easier. On the other hand, esters are difficult to extract and are offered at higher prices. A few companies can afford high capital investments and have started the production of ketone esters. Esters are premium products, and hence, the adoption of ketone esters is quite less among the consumers.
North America is estimated to account for the largest market share due to its high demand from the US.
The application of ketone salts is increasing in the US, as a dietary supplement, particularly among the younger population and athletes. Companies entering this market are focusing on increasing the production of ketones due to its high demand. In addition, the cost of these sales is comparatively low, which further increases its consumption in comparison to the other supplement types. Hence, North America dominated the ketone salts market in 2018. Further, the sales remain high attributed to its support in weight loss regimes. Due to these factors, ketone salts are gaining traction among the younger population in the Asian countries, thereby offering high growth opportunities in the region.
Break-up of Primaries
? By Designation: CXO – 45%, Manager – 33%, and Executive – 22%
? By Value Chain: Manufacturers - 10%, End-users - 90%
? By Region: US – 70%, India – 10%, UK – 10%, China – 10%
Leading players profiled in this report
• Perfect Keto (US)
• HVMN Inc (US)
• BPI Sports (US)
• Ketologic (US)
• Pruvit (US)
• Ketone Aid Inc. (US)
• Compound Solution Inc. (US)
• Sapien Body (US)
• Zhou Nutrition (US)
• Know Brainer Foods (US)
• Finaflex (US)
• ION Labs (US)
• Keto & Company (US)
• Boli Naturals (US)
• Volken Chemicals (India)
• Union Pharmpro Company Limited (China)
• Nutrex Research (US)
• Ancient Nutrition (US)
• Zenwise Health (US)
• Ketond Nutrition LLC (US)
This report segments the ketone market into application, supplement type, form, and region. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the ketone market, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
Reasons To Buy this report
• To get a comprehensive overview of the ketone market
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• To gain insights about the major countries/regions, in which the ketone market is flourishing