April 20, 2024
Glutathione Market

Glutathione Market is in Trends by Increasing Demand for Nutraceuticals and Functional Foods

The Glutathione Market comprises products such as reduced glutathione, oxidized glutathione, and other forms of glutathione supplement which offers various health benefits like antioxidation, detoxification, and immune boosting. The market has witnessed increased demand from nutraceuticals industry as glutathione supplements are extensively used in the formulation of sport nutrition products, weight management products, and joint care products owing to its anti-aging properties.

The Global Glutathione Market Demand is estimated to be valued at US$ 315.98 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the Glutathione Market are Gainsight Inc., Open Text Corporation, Salesforce.com Inc., SAP SE, Verint Systems Inc., Medallia Inc., IBM Corporation, Oracle Corporation, Avaya Inc., Tech Mahindra, Totango, UserIQ Inc., ClientSuccess Inc., Natero Inc. (Freshworks), Planhat, CustomerSuccessBox, Armatic Technologies Inc. (BlueSnap)and Sitecore. The increasing demand for functional foods and nutraceuticals products is fueling the growth of the glutathione market as it helps to enhance the nutritional value and health benefits offered by these products. The market players are also exploring opportunities across regions like North America, Europe, Asia Pacific and Latin America for global expansion of glutathione supplements market.

Market Key Trends
One of the key trends gaining traction in the glutathione market is the increased application of glutathione supplements in cosmetic products and topical solutions.skin whitening and anti-aging cosmetic products are witnessing increased sales driven by rising aesthetic consciousness. Glutathione helps reduce hyperpigmentation, fade scars and neutralize free radicals responsible for premature skin aging. The antioxidative properties support skin brightening and rejuvenation, surging its adoption in personal care and cosmetic formulations.

Porter’s Analysis
Threat of new entrants: New entrants will face high initial investments and established brand loyalty of existing players in the market.

Bargaining power of buyers: Buyers have low bargaining power due to no substitutes availability and differentiated products.

Bargaining power of suppliers: Few manufacturers results in high bargaining power of suppliers.

Threat of new substitutes: Limited threat from new substitutes due to product requirement in nutraceuticals industry.

Competitive rivalry: Intense competition from global players results in pricing pressure.

Geographical Regions

North America dominated the glutathoen market in terms of value in 2024. Higher demand from nutraceutical and cosmetic industries is driving market growth in the region.

Asia Pacific is expected to witness fastest growth during the forecast period. Increasing health awareness and rising disposable income in countries like China and India is boosting market expansion. Rapidly growing nutraceutical industry is fuelling glutathione market in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it