Global Market for L-Carnitine to Reach $127.7 Million by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on L-carnitine market. The global market for L-carnitine is forecast to reach $127.7 million by the year 2017, driven by rising consumer concerns about weight management, health related issues and importance of healthy, functional foods. Growth in the market is also powered by other factors such as aging population, greater spending power and the need to look youthful and attractive through safe and natural methods. Growing usage of L-carnitine in health drinks, medicines, and food supplements has thrown light on the functional benefits of the ingredient. However on the flip side, allegations about the misleading and hyped health benefits and low consumer awareness have hampered fast track growth of the market.

L-Carnitine: A Global Strategic Business Report

San Jose, California (PRWEB), April 20, 2011 -- Rising consumer concerns about health and well-being have sparked a growing demand for functional foods, health drinks, and cosmetic products with nutritional properties. L-carnitine, a specific kind of amino acid, has significant health-related benefits that help in enhancing overall quality of life. In the last few years, the ingredient has found extensive application in production of several kinds of energy drinks, drugs, and functional foods, such as weight reducing capsules, effervescent tablets, chewing tablets, drinks and infant milk powder among others. The energy & sports drinks and nutritional powders & drinks segments are two of the largest end-use markets for L-carnitine. In terms of derivatives, L-carnitine tartrate represents the largest potential market. Growing inclusion of L-carnitine in health drinks/food supplements and medicines has prompted the scientific community and food manufacturers to literally sit up and take note. Over the last several years, the global market has witnessed increasing number of new entrants in the L-carnitine market. The far-reaching benefits of the product are obvious, and the huge untapped market potential is a major motivator for the existing players and aspiring entrants.

The L-carnitine market initially experienced strong growth in Japan, Italy, Switzerland, and the US, and at a much later stage in China. However in a short span of time, Chinese manufacturers have literally seized the market reins, with China today dominating as one of the largest L-carnitine producers in the world at a production capacity of about 48% in the year 2008. Factors such as high quality standards, low prices and increasing manufacturing capacity are rapidly becoming the hallmark of Chinese producers, thereby posing a threat to other established players.

Government regulations with regard to the sales and promotion of L-carnitine differ from country-to-country across the world, and success and usage rates vary accordingly. Despite the undeniable health benefits, several doubts are increasingly being raised by scientists and regulatory authorities regarding the false and hyped health benefits of L-carnitine and its derivatives. In certain cases, L-carnitine health claims portrayed by the concerned manufacturers were found misleading based on false advertisements and public misinformation. In several developed markets such as Europe, there is a mounting pressure from consumers as well as regulatory bodies for greater authentication and scientific validation to back the numerous wellness and health claims of products, be it for foods, drinks or supplements. In addition, short term market prospects are also dampened by factors such as low consumer awareness and understanding, inadequate brand promotion by manufacturers and positioning of L-carnitine as a niche market product.

The US market driven by issues of obesity and related diseases, stands tall as the largest market for L-carnitine products, as stated by the new research report on L-Carnitine. There is a growing propensity towards weight loss supplements and over-the-counter (OTC) dietary and functional food products, health drinks and powders. Europe and Asia-Pacific markets trail behind as other critical L-carnitine markets worldwide. Asia-Pacific, powered by rapid growth in China is forecast to accelerate expansion rate to a robust CAGR of 5.5% through 2017.

Key participants profiled in the report include AIDP, Inc., Ajinomoto AminoScience, LLC, Alfa Aesar, Biosynth AG, Lonza Group Limited, Ningbo Honor Chemtech Co., Ltd., Northeast Pharmaceutical Group Co., Ltd., Qingdao FTZ United International Inc., Shenyang Koncepnutra Co., Ltd., Sigma-Tau Research, Inc., Spectrum Chemicals & Laboratory Products, Inc, Wuhan Yuancheng Technology Development Co., Ltd and Zhejiang Jiashan Chengda Pharm & Chem Co., Ltd.

The research report titled “L-Carnitine: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, challenges and drivers, market trends, product overview, recent industry activity, product innovations and profiles of market players worldwide. Market analytics and overview is provided in value (US$ thousand) terms for major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific and Rest of World.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/L_Carnitine_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
E-mail: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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