L-Citrulline Market 2020 COVID-19 Analysis, Trends, Future Growth and Regional Demand
Market
Overview:
The Global L-citrulline Market is poised
to touch a valuation of USD 40,213.9 million by 2023, as per the latest report
by Market Research Future (MRFR). It was previously worth USD 28,097.9 million
in 2017. L-citrulline is an organic compound derived from plants and animals
which has gained widespread attention owing to its tremendous health benefits.
It is the natural form of citrulline. Increasing use of L-citrulline as a
nutritional supplement in the food & beverage industry is projected to
drive the market growth from 2018 to 2023 (forecast period). This is buttressed
by the rising demand for energy drinks and healthy snacks in recent years.
Rising consumer awareness amid the health-consciousness wave enveloping
consumers is predicted to spike the market demand till 2023.
Prevalence of diseases such as
Alzheimer’s, dementia, erectile dysfunction, sickle cell syndrome, and others
has caught the interest of drug manufacturers in the healthcare sector. The
approval of the compound as an active pharmaceutical ingredient (API) by
regulatory agencies is expected to further its demand over the forecast period.
Changing lifestyles of consumers coupled with rise in expendable income levels
can boost the production of the organic compound.
The descent noticed in livestock production
can impede market growth. But the adoption of citrulline malate in cosmetics
and personal care sectors can offer avenues for the L-citrulline market to
expand in size.
Competitive
Dashboard:
The market is highly competitive in
nature with the entry of new players. Easy availability of feedstock and the
huge demand by consumers is likely to favor them in the long run. This is
exemplified by the establishment of a new production line by CJ CheilJedandg, a
South Korean firm, in Indonesia to increase its reach as well as double its
capacity of L-arginine and L-citrulline.
Prominent players operating in the
L-citrulline market include Premium Ingredient Co., Ltd. (China), Newseed
Chemical Co., Limited (China), Santo Jiahe Biotech (China), TCI Chemicals Private
Limited (India), Ningbo Sinorigin Bio-Products Co., Ltd. (China), Merck KGaA
(Germany), Kyowa Hakko Bio Co. Ltd. (Japan), Wuhan Soleado Technology Co., Ltd.
(China), MH2 Biochemical Co., Ltd. (South Korea), and Nutra Green Biotechnology
Co., Ltd. (U.K.).
Segmentation
Analysis:
The L-citrulline Market is segmented on the basis of application. Major
applications comprise food & beverages, cosmetics & personal care, agriculture/animal
feed, and pharmaceuticals.
The food & beverages segment
dominated the market in 2017 with 36% share, followed by pharmaceuticals. It
was valued at USD 10,608.8 million in the same year. It can enjoy 5.46% CAGR
over the forecast period to touch a value of 13,906.8 million by 2023 and
attain a demand of 374.2 tons in the same year. Demand for functional beverages
can augment the market size dramatically till the end of the forecast period.
The pharmaceutical segment is touted to
register the highest CAGR of 6.9% during the review period. This can be
credited to the use of the compound as an API for manufacturing drugs. It can
accumulate close to 369.6 tons in demand by 2023.
On the other hand, the agriculture/animal
feed can exhibit 6.20% CAGR to reach a valuation of USD 9,546.5 million by
2023. While the cosmetics & personal care segment can accrue USD 2,925.8
million at 5.69% CAGR over the assessment period.
Regional
Analysis:
The worldwide L-citrulline market covers
the latest trends and opportunities across Latin America, North America,
Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region accounted for the largest
market share in 2017, followed by North America, Europe, MEA, and Latin
America. Emerging economies of Thailand, China, and India coupled with aware
consumers is likely to spur the market demand in the region. It can touch USD
18,894.7 million by 2023 owing to changing dietary habits of consumers and the
increased per capita income levels.
The North America L-citrulline market is
predicted to exhibit 5.32% CAGR over the forecast period to reach a size of USD
8,320.7 million by 2023. High prevalence of obesity and cardiovascular
diseases coupled with a well-established healthcare framework is likely to
induce market demand till 2023. The U.S. and Canada are major contributors to
this market.
The European region is led by Germany and
presence of established food & beverage manufacturers. Investments in
cosmetics coupled with the expanding personal care sector can fuel the demand
for L-citrulline in the forthcoming years.
The Latin American market is driven by
the demand for the compound in drugs and the huge quench for functional
beverages. It can exhibit a CAGR close to 6% to touch a size of USD 2,575.8
million by 2023. On the flip side, the MEA market can thrive owing to the
booming food & beverage, cosmetics, and personal care industries. It is
facilitated by the increased spending power of consumers and rapid
urbanization.
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