Increasing penetration of coenzyme Q10 in cancer and Huntington’s disease treatment is creating new growth avenues for stakeholders. In addition to traditional applications in treating cognitive illnesses and cardiovascular diseases, demand for coenzyme Q10 is also complemented by growing adoption in cosmetics industry. The outlook on the global coenzyme Q10 market remains positive, with a 9.1% volume CAGR projected for the period between 2018 and 2028. Revenues from global sales of CoQ10 will reach approximately US$ 1,500 Mn by 2028-end.
Formulation Blending & Forward Integration to Remain Key Strategies Employed by Market Players
Merging of different formula for developing a more effective product to be a key focus area of CoQ10 manufacturers. The report further states that prominent stakeholders in the global coenzyme Q10 market are focusing on forward integration, in order to reduce supplier costs and yield profitability. Manufacturers who incorporate energy generating compounds and antioxidants such as CoQ10 in their dietary supplement products are set to account for larger shares of the market in the foreseeable future.
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Ubiquinol Preferred Over Ubiquinone — Global Sales to Surpass US$ 800 Mn by 2028-end
End-users are showing a marked preference for ubiquinol, and it is likely that over the forecast period, value sales of ubiquinol are likely to outgrow those of ubiquinone. Over US$800 Mn worth of ubiquinol is envisaged to be sold worldwide by 2028-end. High rise of ubiquinol in the coenzyme Q10 market is attributed to its potential in curtailing production of oxidative stress by free radical damage linked with strenuous exercises.
Ubiquinol has also been witnessed to enhance the overall performance and power output in elite athletes. Despite similar effectiveness of ubiquinone as that of ubiquinol, the latter will gain more ground in the market on account of its better absorption capability.
Use of Microbial Fermentation Production Process Higher than Chemical Synthesis
Widespread adoption of coenzyme Q10 across cosmetic and pharmaceutical sectors has led to greater commercial interest in scaling up its production. Microbial fermentation continues to be the most effective production method for coenzyme Q10, with the advent of novel tools in the field of synthetic biology that offer new possibilities beyond traditional forms of metabolic engineering.
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Chemical synthesis for production of CoQ10 is slightly losing traction on account of numerous costs involved such as in high energy catalysis reactions. In addition, this CoQ10 production methods further lacks stereoselectivity, which makes it difficult to segregate optimal isomers.
Nutraceuticals Industry to Latch onto Relatively Greater Value Share in CoQ10 Market
Comparatively greater value share has been envisaged for the nutraceuticals industry in the global CoQ10 market. High demand in this industrial sector can be attributed to growing adoption of nutraceutical supplements containing CoQ10 as an effective protection against heart diseases. Pharmaceuticals industry will also hold a major value share in the global coenzyme Q10 market, driven by its soaring application scope in treatment of cognitive diseases and eye care.
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APEJ Continues to Spearhead CoQ10 Market in Terms of Value Sales
Led by emergence of SMEs coupled with increased usage of cosmetics in China and India, Asia-Pacific excluding Japan (APEJ) is foreseen to lead the global coenzyme Q10 market in terms of value sales in the near future. Favorable regulatory policies along with promising application outlook in personal care products will favor the CoQ10 market in APEJ.