by Glutathione is an antioxidant that plays a key role in human health and helps fight various health conditions like cancer, liver disease, Parkinson’s Disease and more. It is naturally produced in the human body and helps detoxify and protects the cells from free radicals and oxidative damage. The increasing knowledge about the various health benefits of glutathione has led to a surge in demand for glutathione dietary supplements globally.
The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing awareness about the health benefits of glutathione like boosting the immune system, fighting aging and acting as a cellular protector is a major driving factor for the glutathione supplements market. As people are more conscious about their health and nutrition, they tend to consume supplements that support overall well-being. Being an effective antioxidant, glutathione finds wide application as a ingredient in supplements that aim for skin whitening, liver detoxification and boosting cellular health. The demand from nutraceutical and cosmeceutical industries is hence contributing significantly to the growth of the global glutathione market over the forecast period.
SWOT Analysis
Strength: Glutathione has high antioxidant properties that help boost immunity and overall health. It is widely used in pharmaceutical, nutraceutical, and cosmetic industries.
Weakness: The market is highly fragmented with presence of numerous players. Standardization and high costs associated with R&D can restrain the market growth.
Opportunity: Rising awareness about prevention of chronic diseases and health benefits of glutathione supplements provides growth opportunities. Launch of new application specific products will further boost the demand.
Threats: Stringent approval process and regulations for new products and applications pose threats. Economic slowdown due to pandemic can negatively impact the market.
Key Takeaways
The Global Glutathione Market Size is expected to witness high growth. The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030.
North America currently dominates the market backed by increasing health consciousness and mature nutraceutical industry. The region accounts for over 35% of global revenue. Asia Pacific is projected to be the fastest growing regional market stimulated by rising spending on healthcare and dietary supplements in China, India, and other developing countries. Lucrative opportunities exist in nutraceutical and cosmetic sectors of Asia Pacific economies.
Key players: Key players operating in the glutathione market are BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Samsung SDI Co. Ltd, TianJin Lishen Battery Joint-Stock CO. LTD, GS Yuasa Corporation. Glutathione finds wide application in dietary supplements, functional foods, personal care products and more. These companies are focusing on new product launches and capacity expansions to solidify their market shares.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
