Market Overview
The L-Citrulline market is projected to be worth USD 178.59 Million by 2030, registering a CAGR of 3.37% during the forecast period (2021 - 2030). In recent years, the demand for nutritional supplements has risen significantly due to the increasing health concerns of middle-aged adults. L-Citrulline is among the most often utilised supplements in the beauty, hygiene products, and food service industries.
Because of a move toward more nutritional beverages, carbonated beverages, and healthy food supplement products, the worldwide industry is soaring at an unprecedented rate. Additionally, a growing number of health-conscious individuals and sportsmen who want greater nutrition in their meals is driving the worldwide market for protein powders. As a result of the widespread usage of L-Citrulline by healthcare providers and pharmaceutical manufacturers, the L-Citrulline industry in the worldwide market has grown significantly.
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The worldwide COVID 19 outbreak has disrupted people's daily routines. As a result of the worldwide COVID 19 epidemic, people have to cope with financial and health-related difficulties. As a result, the economies have been thrown into a recession. Since most of the production plants of L-Citrulline had to be shut down during and after the lockdown, the company's sales and profit margins have been severely impacted.
Market Segmentation
It is possible to divide the L-citrulline market based on its intended use. Cosmetics, personal care, animal feed, and medicines are just a few industries that use nanotechnology.
Food and drinks accounted for 36% of the market in 2017, followed by medicines, a 12% share. As recently as 2010, its market worth reached $10,608,8 million. With a five-year CAGR of 5.46 per cent, the market is expected to reach $13,906,8 million in 2023 and a requirement of 374.2 tonnes that year. The market for functional beverages is expected to grow rapidly during the remainder of the projected timeframe due to rising consumer demand.
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An expected 6.9 per cent CAGR for this sector throughout this period is expected. This is partly due to the compound's employment as an API for medication production. By 2023, demand for the product is expected to reach 369.6 tonnes.
Regional Classification
The L-Citrulline market has been segmented into Asia-Pacific, Europe, North America, Latin America, and the rest of the globe based on geographic location. A substantial portion of the worldwide L-Citrulline market is controlled by the Asia-Pacific region, including nations such as Japan, India, and South Korea that have seen an astounding rise in per capita wealth. Consumers' nutritional preferences are also altering similarly.
North American nations, including Canada and the United States, have the 2nd largest market share globally in the L-Citrulline business. The L-Citrulline market is expected to increase at a favourable pace in North America over the next few years. It's no surprise that Europe, which ranks third in terms of market share for L-Citrulline on the worldwide market, is accompanied by the Latin American area in terms of sales.
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Industry News
Announcing the debut of three new pre-workout supplements in July 2021, Steel Supplements aims to provide athletes with the stamina, energy, and strength they need to get through even the most taxing exercises. A wide range of fitness levels may benefit from PRE, Pumped AF, and N.O.7 exercises, which are aimed at helping people of all levels get through their exercise routines.
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