A key factor driving the growth of the market is the growing disposable income. Disposable income is growing across the world. For instance, in 2016, more than 60% of women were working in the US, creating a financial boost in the overall household income. It enables consumers to spend more on health and beauty products, thus driving the demand for coenzyme Q10 dietary supplements, pharmaceuticals, and cosmetics.
This market research report on the global coenzyme Q10 market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the high demand for cosmetics as one of the key emerging trends in the global coenzyme Q10 market:
Global coenzyme Q10 market: High demand for cosmetics
The cosmetic products market is projected to grow at a CAGR of around 6% during the forecast period, owing to an increase in disposable income and changing preferences in fashion, which is increasing the demand for cosmetics. This increase in demand for cosmetics has increased the cases of skin cancer as the cosmetics are usually made of synthetic materials, paraben, synthetic colors, and phthalates that are also referred to as industrial chemicals.
“These industrial chemicals are also found in high-end cosmetics, which are carcinogenic in nature. Hence, the increased application of these cosmetics leads to an increased incidence of cancer. Thus, leading to a boost in demand for cosmetic products with natural ingredients such as coenzyme Q10, which is beneficial for the skin,” says a senior market analyst at Technavio.
Global coenzyme Q10 market: Segmentation analysis
This market research report segments the global coenzyme Q10 market by application (dietary supplements, pharmaceuticals, and cosmetics) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 46%, followed by EMEA and APAC respectively. Although the growth in the APAC region may not be huge, however, the region is expected to witness an increased incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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