Coenzyme Q10 Market size was valued at USD 714.6 million in 2024 and is anticipated to surpass USD 2.49 billion by 2037, registering a CAGR of 11% during the forecast timeline i.e. 2025-2037. In 2025, the industry size of coenzyme Q10 is evaluated at USD 793.2 million.
The coenzyme Q10 market has gained significant traction globally, assisted by the regulatory framework and policies implemented by government organizations. For instance, in September 2024, BPGbio, Inc., announced that the U.S. Food and Drug Administration (FDA) has granted Rare Pediatric Disease designation for BPM31510IV, the company's investigational treatment for primary coenzyme Q10 (CoQ10) deficiency. In addition, the advancements that supplements made in formulations to improve bioavailability with growing applications of CoQ10 from dietary supplement functional food place it at a higher spot in the health and wellness sector.
The coenzyme market has gained much traction lately owing to increased consumer awareness of preventive health. This has further spurred demand for natural supplements such as CoQ10 that increase energy, support cardiovascular function, and reduce oxidative stress. For instance, in July 2022, a meta-analysis of twenty-one randomized clinical studies in Frontiers Pharmacology argued that the use of Coenzyme Q10 as a supplementary treatment reduces the incidence of oxidative stress in many diseases. Besides, research has been adequate in establishing the therapeutic applications of CoQ10 in managing heart diseases and neurodegenerative disorders which contributes to higher credibility in its usage among clinical markets and the consumer market as well.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
11% |
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Base Year Market Size (2024) |
USD 714.6 million |
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Forecast Year Market Size (2037) |
USD 2.49 billion |
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Regional Scope |
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Application (Dietary Supplements, Pharmaceuticals, Cosmetics, Others)
Dietary supplements segment is expected to capture over 53% coenzyme Q10 market share by 2037. Consumers are increasingly becoming keen on preventive health measures and natural wellness solutions. Hence, an active approach towards health implies that people are looking forward to dietary supplements that boost energy levels, support heart health, and fight against oxidative stress. For instance, in July 2023, Boryung Consumer Healthcare, a subsidiary of Boryung, introduced Q10 Max soft gel dietary capsules. The product contains Coenzyme Q10 100 mg as a functional ingredient for the homeostasis of antioxidant activity. Due to the varied formulations, suitable for all users' requirements, ensure dietary supplements remain the prime market application.
Our in-depth analysis of the global market includes the following segments:
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Application |
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North America Market Statistics
North America in coenzyme Q10 market is expected to account for more than 65.8% revenue share by the end of 2037. Further, the growth in the technological advancements of Coenzyme Q10 production, formulation, and delivery systems are also driving the market growth. In addition, antioxidant properties and their ability to control cellular damage and enhance skin and overall health are fueling the market growth. Besides, the regional focus on preventive medicine along with the increased consumption of supplements is also expected to fuel the growth of the market across the region.
The U.S. market is exponentially growing attributable to its focus to pursue growth opportunities and value creation for its consumer healthcare business. In addition, it strives to create a strong market retention base by serving the growing needs of the market. For instance, in July 2023, Sanofi announced entering into a definitive agreement to acquire ownership of Qunol. This transaction will strengthen Sanofi’s Consumer Healthcare’s (CHC) Vitamin, Mineral, and Supplements (VMS) category, one of the largest and fastest-growing consumer health categories in the U.S., focusing on the active ‘healthy aging’ segment.
Canada coenzyme Q10 market is growing at a rapid pace, owing to the growing advancement in biomedical sciences especially in coenzyme Q10 to improve healthcare aids. In addition, partnerships between research institutes, companies, academia, and tech companies are fostering the landscape of coenzyme Q10 within the country. For instance, in September 2021, McGill University announced a license agreement with Clarus Therapeutics Holdings, Inc. to develop and commercialize a proprietary technology from McGill intended for the treatment of diseases or conditions associated with CoQ10 deficiency in humans.
Asia Pacific Market Analysis
The Asia Pacific coenzyme Q10 market is growing rapidly and is unfolding growth opportunities in various applications of coenzyme Q10. Moreover, several macroeconomic factors such as the growing geriatric population, growing GDP per capita, growing disposable income, and increasing per capita health care expenditure in the region are expected to drive the growth in this region over the forecast period. In addition, the growing use of coenzyme Q10 by pharmaceutical companies has helped the region reap advantages in diverse applications of coenzyme Q10.
China market will witness robust growth owing to its exceptional R&D capabilities in healthcare settings. Furthermore, these are being internationally recognized thus, pushing the country’s standard further onto the international stage, contributing significantly to the nutritional health food ecosystem. For instance, in July 2024, it was revealed in the study of the Health Products Association China that the Coenzyme Q10 gummies standard formulated by Sirio Health has successfully passed the review of United States Pharmacopeia and will be implemented officially globally. This is the 1st company from the country to participate in USP dietary supplement standards and achieve a milestone.
An upward indication for the growth of the market in India is predominantly due to the small-scale manufacturers in addition to the rising demand for cosmetics in the country. Furthermore, favorable regulatory guidelines with a positive outlook towards personal care product application are anticipated to drive coenzyme Q10 demand during the forecast period. Moreover, the rising awareness about the benefits of eye care and the treatment of cognitive diseases is expected to provide lucrative opportunities over the forecast period.
The companies in the coenzyme Q10 market have shaped the landscape of CoQ10 usage and its efficiencies through their continuous efforts toward innovation and discoveries. For instance, in April 2024, Beiersdorf announced that it had pioneered an anti-aging serum, Nivea Q10 dual action serum. Hence, the competition is high in the market due to industry fragmentation combined with price-based competition which is likely to influence demand for products over the foreseeable future.
Here's the list of some key players:
Author Credits: Parul Atri
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