DUBLIN--(BUSINESS WIRE)--The "Alpha Lipoic Acid Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global alpha lipoic acid market was valued at $784.5 million in 2020, and is projected to reach $1,442.4 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
Alpha lipoic acid is a naturally occurring organic compound with antioxidant properties used to break down carbohydrates and transform it into energy. It if found naturally in the body or can be prepared synthetically by chemical synthesis of thioctic acid with R(+) alpha-methylbenzylamine.
The growth of the global alpha lipoic acid market is driven by robust dietary supplements and increasing demand for anti-aging creams. Aging is brought by a cycle of biochemical processes that degenerates the body over time. Anti-aging is the process of retarding or limiting these changes by using different products and services.
Nowadays, a good physical personality has become a necessity among individuals, which in turn has increased the awareness for using anti-aging products among both young and older populations.
For instance, according to a report published by Statista, the global anti-aging market was valued at around $58.5 billion in 2020 and is expected to reach $88.3 billion by 2026. Alpha-lipoic acid being rich in antioxidants protects the skin from ultraviolet light, cigarette smoke, air pollution, and others. Moreover, it is also proven for use as sun protection, anti-wrinkle, dark sports treatment, and anti-aging products.
However, side effects associated with use of lipoic acid such as headaches, nausea, heartburn, and vomiting, which is expected to hamper the market growth. The regular consumption of alpha-lipoic acid may cause several side effects. For example, the regular consumption of alpha-lipoic acid in adults may cause headaches, nausea, heartburn, and vomiting.
Moreover, using alpha-lipoic acid together with other health supplements may lower blood sugar levels and cause hypoglycemia. Furthermore, the skin applications of alpha-lipoic acid may cause a rash in some people. These factors together may hamper the growth of the alpha-lipoic acid market during the forecast period.
The rapid change in lifestyle, ethnicity, energy-dense diet, physical inactivity, obesity, and others is the main contributor to an increasing prevalence of diabetes. For instance, according to a report published by the World Health Organization (WHO), the number of people with diabetes rose from 108 million in 1980 to around 422 million in 2014.
Several researches have found alpha-lipoic acid one of the best health supplements for people with type-2 diabetes. Moreover, it can improve insulin resistance and nerve damage caused by diabetes treatment. It reduces symptoms such as tingling, pain, and pricking in the legs and feet of diabetic patients. In addition, it protects the retina from being damaged due to high blood sugar levels.
These factors together are anticipated to increase the sales of alpha-lipoic acid may offer remunerative opportunities for the alpha lipoic acid market in future.
Market Dynamics
Drivers
- Robust dietary supplements demand
- Increasing demand for anti-aging creams
Restraint
- Side-effects associated with the use of alpha-lipoic acid
Opportunity
- Increasing utilization for nerve pain treatment in people with diabetes
Key Players in the global alpha lipoic acid market are:
- AlzChem Group AG
- GeroNova Research Inc.
- Haihang Industry
- HiMedia Laboratories
- NOW Foods
- Olon S.p.A
- Rexall Sundown Inc.
- Source Naturals Inc.
- Suzhou Fushilai Pharmaceutical Co. Ltd.
- Wellona Pharma
Key market segments
By Product Type
- R Alpha Lipoic Acid
- S Alpha Lipoic Acid
By Application
- Dietary Supplements
- Cosmetics
- Pharmaceuticals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/qhkl5v
