Emphasis on Application (Supplements, Food & Beverages, Cosmetics & Personal Care); Supplement Type (Ketone Salts, Ketone Esters, Ketone Oil, Raspberry Ketones); Form (Solid, Liquid & Semi-Liquid); Region/Country
Global Ketones Market was valued around US$ 466 million in 2020 and is anticipated to cross US$ 700 million by 2027 displaying an elevated CAGR of above 6% over the forecast period (2021-2027). The substances made by our body when they do not receive enough blood sugar (glucose) are called ketones. Ketones bodies are produced from fatty acids by the liver which are water-soluble molecules that contain the ketone groups. High levels of ketones may be indicative of diabetic ketoacidosis, a diabetes complication leading to coma or even death.
With the growing awareness about the health benefits of ketones and the wide adoption of ketone supplements, there has been a surge in the demand for ketones across the globe which in turn is driving the growth of the market. Furthermore, the growing geriatric population coupled with the increase in the number of people suffering from diabetes is further expected to propel the growth of the ketones market as ketone supplements are known to effectively control blood sugar levels. For instance, In 2019, a total of 463 million people were estimated to be living with diabetes, representing 9.3% of the global adult population (20–79 years). This number is expected to increase to 578 million (10.2%) in 2030 and 700 million (10.9%) in 2045.
The ketones market is growing exponentially on account of the growing demand for ketones among athletes and the frequent launch of products in the market. For example, HVMN Inc., a nutrition company launched a drink made up of pure ketone ester that improves the athletic ability, energy, and overall health of these consumers. Moreover, increasing consumption of functional food coupled with an increase in the number of people adopting a healthy lifestyle has created immense growth opportunities for various industry players to focus on the development of new and innovative keto products. Thereby, driving the growth of the global ketones market.
Number of Adults (20–79 years) With Diabetes, Worldwide
Perfect Keto, HVMN Inc., Ketologic, Zenwise Health, Nurex Research, Zhou Nutrition, Union Pharmpro Company Ltd., Ancient Nutrition, Life Sense International LLC, BPI sports are some of the prominent players operating in the ketones market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and innovative products.
Insights Presented in the Report
“Amongst Application, supplements segment holds the major share”
Based on application, the market is fragmented into supplements, food & beverages, and cosmetics & personal care. The supplements segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F owing to the growing adoption of ketone supplements among athletes as these supplements are used to boost human physical performance in competitive events. For example, beta-hydroxybutyrate delivers more energy per unit of oxygen consumed than glucose or fatty acids. Furthermore, rising awareness among consumers about a healthy lifestyle coupled with the widespread adoption of nutritional supplements is also driving the ketone supplements market.
“Amongst Supplement Type, ketone salts segment holds the major share”
Based on supplement type, the market is fragmented into ketone salts, ketone esters, ketone oil, raspberry ketones. The ketone salts segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F. Ketone salts utilize sodium, potassium, magnesium, or calcium as the cation and are available in various forms such as drinks, pills, and powders. The growth of this segment is attributed to the ability of these salts to increase blood ketone levels without having to follow a ketogenic diet just like ketosis and provides energy. However, the ketone esters segment is also anticipated to garner significant market growth in the upcoming years.
“Amongst Form, solid segment holds the major share”
Based on the form, the market is fragmented into solid and liquid & semi-liquid. The solid segment generated revenue of USD XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX billion by 2027F as solid form are readily available, easy to handle and carry and have a longer shelf life in comparison to the liquid & semi-liquid forms. Also, the solid form can be used in the treatment of various gastrointestinal diseases where liquid ketones are used without any complications. Thereby, driving the solid form market globally.
“North America represents one of the largest markets of ketones market”
For a better understanding of the market dynamics of the ketones market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ XX million in 2020 owing to the fast-paced modern lifestyle and high-income levels of the consumers in the region leading to a rise in the demand for ketone products.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Covid-19 Impact
6. Global Ketones Market Revenue
7. Market Insights By Application
8. Market Insights By Supplement Type
9. Market Insights By Form
10. Market Insights By Region
11. Ketones Market Dynamics
12. Ketones Market Opportunities
13. Ketones Market Trends & Insights
14. Legal & Regulatory Framework
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global ketones market were the three major steps undertaken to create and analyze the adoption of ketones in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ketones market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the ketones through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the ketones market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as supplement type, applications and form. Further country-level analyses were conducted to evaluate the overall adoption of ketones across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ketones. Further, we conducted factor analysis using dependent and independent variables such as increasing popularity of ketone supplements for health benefits and growing prevalence of diabetes. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the ketones sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the ketones market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the ketones market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of supplement type, application and form of the ketones market.
The main objective of the Ketones Market Study
The current & future market trends of ketones were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
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