Ketones Market: Current Analysis and Forecast (2021-2027)


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









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Report Description
Table of content
Research Methodology

Report Description

Ketones Market 1
Ketones Market 1

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

Ketones Market 2
Ketones Market 2

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.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The global ketones market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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 1.1Market Definitions
 1.2Objective of the Study
 1.4Stake Holders
 1.5Currency Used in Report
 1.6Scope of the Global Ketones Study


 2.1Research Methodology for the Global Ketones Market
  2.1.1Main Objective of the Global Ketones Market
 7.2Food & Beverages 
 7.3Cosmetics & Personal Care 
 8.1Ketone Salts
 8.2Ketone Esters
 8.3Ketone Oil
 8.4Raspberry Ketones
  10.1.1United States 
  10.1.3Rest of North America
  10.2.3United Kingdom 
  10.2.6Rest of Europe 
  10.3.5Rest of Asia Pacific 
 11.1Market Drivers 
 11.2Market Challenges
 11.3Impact Analysis
 15.1Demand Side Analysis
 15.2Supply Side Analysis
  15.2.1Top Product Launches
  15.2.2Top Business Partnerships
  15.2.3Top Merger & Acquisitions
 17.1Porter’s Five forces analysis
  17.1.1Bargaining power of Supplier
  17.1.2Bargaining power of Buyer
  17.1.3Industry Rivalry
  17.1.4Availability of Substitute
  17.1.5Threat of new Entrants
 18.1HVMN Inc. 
  18.1.1Key Facts 
  18.1.2Business Description
  18.1.3Key Product/Services Offerings
  18.1.4Growth Strategy
  18.1.5SWOT Analysis
  18.1.6Key Financials Split Overview of HVMN Inc.
  18.1.7Recent Developments Launch Expansion and Investments and Acquisition
 18.2Perfect Keto 
 18.4Zenwise Health 
 18.5Nutrex Research 
 18.6Zhou Nutrition 
 18.7Union Pharmpro Campany Ltd.
 18.8Ancient Nutrition  
 18.9Life sense International LLC
 18.10BPI Sports 

Research Methodology

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:

  • The industry’s market size, in terms of value (US$) and the adoption rate of ketones across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the ketones market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

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

Ketones Market 3
Ketones Market 3

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:

  • Analyze the current and forecast market size of ketones in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of supplement types, application, and form
  • Define and analysis of the regulatory framework for the ketones industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the ketones market for the major region
  • Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
  • Company profiles of the ketones market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry