Global Alpha Lipoic Acid Market Size, Share, and COVID-19 Impact Analysis By Product (R- Lipoic and S-Lipoic), By Application (Dietary supplements, Slimming products, Medical drugs and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Advanced Materials
Global Alpha Lipoic Acid Market Insights Forecasts to 2030
- The Global Alpha Lipoic Acid Market Size was valued at USD 850.00 Million in 2021.
- The Market Size is growing at a CAGR of 5.4% from 2022 to 2030
- The global Alpha Lipoic Acid Market Size is expected to reach USD 1364.53 Million by 2030
- North America is expected to grow the fastest during the forecast period.
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The Global Alpha Lipoic Acid Market Size is expected to reach USD 1364.53 Million by 2030, at a CAGR of 5.4% during the forecast period 2022 to 2030. The demand for the alpha lipoic acid will increase as usage increases in the healthcare industry. Strong dietary supplements and rising demand for anti-aging creams are driving the worldwide alpha lipoic acid market's expansion.
A naturally occurring chemical substance called alpha lipoic acid is used to break down carbs and turn them into energy. It can be produced synthetically by combining thioctic acid with R (+) alpha-methylbenzylamine or spontaneously in the body. Strong dietary supplements and rising demand for anti-aging creams are what are propelling the worldwide alpha lipoic acid market's expansion. A series of biological processes that deteriorate the body over time cause ageing. Using various goods and services, anti-aging is the process of delaying or reducing these changes. Nowadays, having a decent physical appearance is essential for people, which has raised awareness of anti-aging products among both young and elderly populations. Due to its abundance in antioxidants, alpha-lipoic acid shields the skin against harmful UV rays, tobacco smoke, air pollution, and other factors. Additionally, it has been demonstrated to be effective as a sunblock, anti-wrinkle, dark sports therapy, and anti-aging product. However, adverse reactions to lipoic acid usage, including headaches, nausea, heartburn, and vomiting, are anticipated to restrain market expansion. Alpha-lipoic acid use on a frequent basis may have a number of negative consequences. For instance, people who regularly use alpha-lipoic acid may experience headaches, nauseousness, heartburn, and vomiting. Additionally, combining alpha-lipoic acid with other nutritional supplements may result in hypoglycemia, which lowers blood sugar levels. Furthermore, some persons may get a rash after applying alpha-lipoic acid to their skin. Together, these elements might limit the market's expansion for alpha-lipoic acid throughout the anticipated timeframe. The worldwide alpha lipoic acid market would benefit from rising consumer expenditure on personal care goods. The ingredient is utilised extensively in cosmetic items like lotions for wrinkles. Additionally, frequent and recommended alpha lipoic acid ingestion aids in weight loss, making it a popular slimming drug on the market. Because of the nutritional supplement supply chain problems caused by the Covid-19 epidemic, the global market for alpha lipoic acid suffered. Alpha lipoic acid demand was momentarily limited by the fact that some businesses either shut down or reduced their operations because of the danger of illness among the employees. The demand for cosmetics and beauty items contracted throughout the COVID-19 era as a result of clients' declining incomes, which in turn caused a decline in demand. A key indicator of the antioxidant system, intracellular glutathione, was found to be significantly increased when alpha lipoic acid concentrations were raised, according to the statement. Thus, growing customer interest in feeding their dogs healthier meals and rising consumer knowledge of the advantages of alpha lipoic acid have driven up product demand globally.
Global Alpha Lipoic Acid Market Report Coverage
|Market Size in 2021:||USD 850.00 Million|
|Forecast Period 2022-2030 CAGR:||5.4 %|
|2030 Value Projection:||USD 1364.53 Million|
|Historical Data for:||2019-2021|
|No. of Pages:||258|
|Tables, Charts & Figures:||104|
|Segments covered:||By Product, By Application, By region|
|Companies Covered:||Infa Group, Shandong Qidu Pharmaceutical, Qufu Maidesen Fine Chemical, Shanghai Shyndec (Modern) Pharmaceutical, Jiangsu Tohope Pharmaceutical, GeroNova Research, Source Naturals, AlzChem Group AG, Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A, Rexall Sundown Inc., Source Naturals Inc., Suzhou Fushilai Pharmaceutical Co. Ltd., and Wellona Pharma.|
|Growth Drivers:||Rising demand for Alpha Lipoic Acid in the healthcare sector is expected to drive the markets growth over the forecast period.|
|Pitfalls & Challenges:||Covid-19 Impact Analysis|
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This research report categorizes the Market for global Alpha Lipoic Acid based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Alpha Lipoic Acid Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Alpha Lipoic Acid Market sub-segments.
- In 2021, the R- Lipoic segment accounted for the largest share of the Market, with 60.1% and a Market revenue of 510.85 Million.
Based on the product, the Alpha Lipoic Acid Market is categorized into R- Lipoic and S-Lipoic. In 2021, the R- Lipoic segment accounted for the largest share of the Market, with 60.1% and a Market revenue of 510.85 Million. Throughout the forecast period, the R- Lipoic segment is anticipated to maintain its leading position as R-lipoic acid has a wide range of uses, including the prevention of diabetes, improvement of glucose control and neuro disorders, weight loss, prevention of cataract development, prevention of brain damage following a stroke, removal of toxic metals from the body, improvement of skin texture, and reduction of migraine intensity, all of which must be effectively treated to raise health standards around the world.
- In 2021, the Medical drugs segment accounted for the largest share of the Market, with 29.6% and a Market revenue of 251.6 Million.
Based on the application, the Alpha Lipoic Acid Market is categorized Dietary supplements, Slimming products, Medical drugs and Others. In 2021, the Medical drugs segment accounted for the largest share of the Market, with 29.6% and a Market revenue of 251.6 Million. A significant alpha lipoic acid market value will be attained by the medical drugs application segment over the course of the forecast period due to rising product applications in the production of several drugs that can treat a number of fatal diseases, including diabetes, nerve pains, cataract formation, cancer treatment, blood sugar levels, skin discoloration, HIV, healing wounds, decreasing complications in Coronary Artery Bypass Graft (CABG) surgeries, and various other medical conditions.
Regional Segment Analysis of the Alpha Lipoic Acid Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Asia Pacific emerged as the largest Market for the global Alpha Lipoic Acid Market, with a Market share of around 32.9% and 279.65 Million of the Market revenue in 2021.
- Asia Pacific emerged as the largest Market for the global Alpha Lipoic Acid Market, with a Market share of around 32.9% and 279.65 Million of the Market revenue in 2021. The rising acceptance by the market are driving the demand for Alpha Lipoic Acid. The Asia Pacific region dominated the market for Alpha Lipoic Acid this is explained by Some of the key regional development opportunities are the expanding medical sector, the sizable diabetic population, and increased consumer expenditure on personal care and nutritional supplements. Another reason for this enormous market share in Asia Pacific is the presence of numerous small, big, and medium-sized product producers in the area to satisfy strong product demand.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030. One of the main drivers of the North America market revenue growth is the rising population, rapid urbanisation, and increase in demand for Dietary supplements, Slimming products and Medical drugs.
The report offers the appropriate analysis of the key organizations/companies involved within the global Alpha Lipoic Acid Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Infa Group
- Shandong Qidu Pharmaceutical
- Qufu Maidesen Fine Chemical
- Shanghai Shyndec (Modern) Pharmaceutical
- Jiangsu Tohope Pharmaceutical
- GeroNova Research
- Source Naturals
- AlzChem Group AG
- Haihang Industry
- HiMedia Laboratories
- NOW Foods
- Olon S.p.A
- Rexall Sundown Inc.
- Source Naturals Inc.
- Suzhou Fushilai Pharmaceutical Co. Ltd.
- Wellona Pharma
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In March 2017, According to research published in the International Journal of Clinical Practice, taking ALA can considerably lower weight and BMI.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Alpha Lipoic Acid Market based on the below-mentioned segments:
Global Alpha Lipoic Acid Market, By Product
- R- Lipoic
Global Alpha Lipoic Acid Market, By Application
- Dietary supplements
- Slimming products
- Medical drugs
Global Alpha Lipoic Acid Market, Regional Analysis
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Alpha Lipoic Acid market?As per Spherical Insights, the size of the Alpha Lipoic Acid market was valued at USD 850.00 million in 2022 to USD 1364.53 million by 2030.
What is the market growth rate of the Alpha Lipoic Acid market?The Alpha Lipoic Acid market is growing at a CAGR of 5.4% from 2022 to 2030.
Which country dominates the Alpha Lipoic Acid market?Asia Pacific emerged as the largest market for Alpha Lipoic Acid.
Who are the key players in the Alpha Lipoic Acid market?Key players in the Alpha Lipoic Acid market are Infa Group, Shandong Qidu Pharmaceutical, Qufu Maidesen Fine Chemical, Shanghai Shyndec (Modern) Pharmaceutical, Jiangsu Tohope Pharmaceutical, GeroNova Research, Source Naturals, AlzChem Group AG, Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A, Rexall Sundown Inc., Source Naturals Inc., Suzhou Fushilai Pharmaceutical Co. Ltd., and Wellona Pharma.
Which factor drives the growth of the Alpha Lipoic Acid market?Rising demand for Alpha Lipoic Acid in the healthcare sector is expected to drive the market's growth over the forecast period.
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