SELBYVILLE, Del., January 28, 2021 (Newswire.com) - Based on Global Market Insights Inc., report, the global Glutathione Market size was estimated at $195 million in 2020 and is slated to surpass $315 million by 2027, registering a CAGR of 7% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
The rising application of glutathione in various end-use industries such as Nutraceutical, pharmaceutical, cosmetic, and food should support the product market growth. Additionally, glutathione is an essential antioxidant, which helps in DNA synthesis, sperm formulation, and immunity. Therefore, these benefits of glutathione support its market growth over the forecasted period.
Glutathione reduced witnessed highest growth potential in the market, owing to multiple health benefits of the product such as reducing oxidative stress, improve psoriasis, and reduce respiratory disease symptoms.
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Glutathione uses in the pharmaceutical industry are anticipated to show lucrative growth over the forecasted period, owing to rising lifestyle disease and change in consumers' lifestyle and eating pattern.
North America region holds a major share in the global glutathione market and is anticipated to grow with the highest CAGR of over 7.0%. Continuous expansion of the pharmaceutical industry in this region and continuous government support for research and development activities should drive the market growth.
Asia Pacific region is anticipated to show significant growth in the global glutathione market over the coming time frame. It is owing to the growing cosmetic industry in the Asia Pacific region, pertaining to its rising urban population and beauty trend from its neighboring regions.
Latin America region is anticipated to show significant industry growth of 6.5% of CAGR between the years 2021 to 2027 owing to the growing cosmetic and personal care industry in the region. Wherein, the Brazilian fragrances, personal care, and cosmetics, product's sales accounted for more than 45.0% of the Latin American cosmetic products' sales in the year 2019. As a result of changing consumer living patterns, rising disposable income, and rising expenditure on personal care and beauty products. Therefore, this growing demand for cosmetic products in Latin America supports to drive the glutathione market growth, as it is highly used in anti-aging products such as cream serum and so on.
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Key players in the global glutathione industry include Kyowa Hakko Bio Co. Ltd., Haihang Industry Co. Ltd., Xi'an Fengzu Biological Technology Co. Ltd, Cayman Chemical Company, KOHJIN Life Sciences Co. Ltd., Meteoric Biopharmaceuticals Pvt. Ltd., YAOPHARMA., Shandong Jincheng Biological Pharmaceutical Co. Ltd., and Herbo Nutra, these players in the market are holding significant share and are implementing various strategies to further increase their global presence and production capacity.
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Source: Global Market Insights Inc.