Glutathione Market Projected to Exceed $315 Million By 2027, Says Global Market Insights Inc.
Major players are focusing on strategic initiatives such as mergers, acquisitions, joint venture, new product development and investment in research and development to cater to rising demand for glutathione primarily from different industrial sector such as, pharmaceuticals, cosmetic and food, says this report.
SELBYVILLE, Del., Jan. 28, 2021 /PRNewswire/ -- Based on Global Market Insights Inc., report, the global Glutathione Market size was estimated at $195 million in 2020 and is slated to surpass $315 million by 2027, registering a CAGR of 7% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
The rising application of glutathione in various end-use industries such as Nutraceutical, pharmaceutical, cosmetic, and food should support the product market growth. Additionally, glutathione is an essential antioxidant, which helps in DNA synthesis, sperm formulation, and immunity. Therefore, these benefits of glutathione support its market growth over the forecasted period.
Glutathione reduced witnessed highest growth potential in the market, owing to multiple health benefits of the product such as reducing oxidative stress, improve psoriasis, and reduce respiratory disease symptoms.
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Glutathione uses in the pharmaceutical industry are anticipated to show lucrative growth over the forecasted period, owing to rising lifestyle disease and change in consumers' lifestyle and eating pattern.
North America region holds a major share in the global glutathione market and is anticipated to grow with the highest CAGR of over 7.0%. Continuous expansion of the pharmaceutical industry in this region and continuous government support for research and development activities should drive the market growth.
Asia Pacific region is anticipated to show significant growth in the global glutathione market over the coming time frame. It is owing to the growing cosmetic industry in the Asia Pacific region, pertaining to its rising urban population and beauty trend from its neighboring regions.
Latin America region is anticipated to show significant industry growth of 6.5% of CAGR between the years 2021 to 2027 owing to the growing cosmetic and personal care industry in the region. Wherein, the Brazilian fragrances, personal care, and cosmetics, product's sales accounted for more than 45.0% of the Latin American cosmetic products' sales in the year 2019. As a result of changing consumer living patterns, rising disposable income, and rising expenditure on personal care and beauty products. Therefore, this growing demand for cosmetic products in Latin America supports to drive the glutathione market growth, as it is highly used in anti-aging products such as cream serum and so on.
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Key players in the global glutathione industry include Kyowa Hakko Bio Co. Ltd., Haihang Industry Co. Ltd., Xi'an Fengzu Biological Technology Co. Ltd, Cayman Chemical Company, KOHJIN Life Sciences Co. Ltd., Meteoric Biopharmaceuticals Pvt. Ltd., YAOPHARMA., Shandong Jincheng Biological Pharmaceutical Co. Ltd., and Herbo Nutra, these players in the market are holding significant share and are implementing various strategies to further increase their global presence and production capacity.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.
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Glutathione Market Statistics - 2027
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SOURCE Global Market Insights Inc.
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