The global CoQ10 market is expected to reach USD 849.5 million by 2020, according to a new study by Grand View Research, Inc. Growth of personal care industry particularly in BRIC nations is expected to remain a key driving factor for the global CoQ10 market. Increasing penetration of CoQ10 in medical industry is also expected to have positive influence on market growth. Constantly fluctuating CoQ10 prices is expected to remain a key challenge for market participants over the forecast period.
Dietary supplements emerged as the leading application for CoQ10 and accounted for 59.9% of total market volume in 2013. Increasing health concerns is expected to drive the demand for antioxidants and energy supplements which in turn is expected to drive CoQ10 demand over the next six years. Pharmaceutical is expected to be the most lucrative application segment and is expected to grow at an estimated CAGR of 9.9% from 2014 to 2020. Cardiac benefits of CoQ10 coupled with increasing prevalence of cardiovascular diseases across the globe are major factors driving its demand in pharmaceutical applications.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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