Ketones Market Revenue Driven by Rising Demand for Ketone Supplements among Fitness Enthusiasts: Reports and Data
Increasing health consciousness among consumers, rising focus on weight management, and growing demand for ketone supplements are among the key factors expected to drive market revenue growth over the next few years
Reports and Data has published its latest report titled “Ketones Market, By Type (Ketone Salts, Ketone Oil, Ketone Esters, Raspberry Ketone), By Form (Liquid, Solid, Semi-liquid), By Application (Nutritional Supplements, Food & Beverages, Cosmetics & Personal Care Products), By Distribution Channel (Direct Channels, Indirect Channels), and By Region, Forecast to 2028”
According to the latest report by Reports and Data, the global ketones market size was USD 463.4 Million in 2020 and is expected to reach USD 745.2 Million in 2028 and register a revenue CAGR of 6.1% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Major factors providing impetus to the global ketones market revenue growth are increasing applications of ketone in the pharmaceutical, food & beverage, and cosmetic industries, rising health consciousness among consumers, increasing focus on weight management, and growing demand for ketone supplements among fitness enthusiasts and sports professionals. Sedentary lifestyles and unhealthy eating habits of consumers, including increasing consumption of alcohol, have led to a rise in prevalence of several chronic diseases such as obesity, diabetes, cardiovascular diseases, and many cancer types. However, with increasing awareness of health and wellness, consumers are focusing on maintaining good health and switching to healthier food choices and more active lifestyles.
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Ketones are compounds consisting of carbonyl groups and are extensively used in various end-use industries. These are used in pharmaceutical products such as dietary supplements, and various food & beverage and personal care products. Ketone supplements are consumed by fitness enthusiasts and athletes to augment athletic performance, improve cognitive health, and facilitate weight management. Many food & beverage companies have launched ketone-based beverages that act as energy boosters. For instance, life sciences company Juvenescence Ltd. introduced its first-ever ketone-based drink, called Metabolic Switch, in April 2021. The new product contains C6 Ketone Di-ester that promotes healthy aging and improves metabolism. Moreover, ketones are increasingly being used in nutraceuticals and cosmeceuticals as they provide pain relief and relaxation, improve respiratory health, and boost cell regeneration.
The global ketones market revenue growth is further driven by factors such as growing geriatric population, rising prevalence of chronic diseases, increasing awareness about the health benefits associated with ketones, and increasing research activities to formulate more enhanced functional beverages and health supplements. Growing sales of cosmetics and personal care products, increasing preference for chemical-free and skin-friendly product ingredients, increased consumer expenditure on healthcare products, and rising disposable incomes, particularly in developing countries such as India, are other key drivers for market revenue growth.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Ketone Salts Segment Accounted for Largest Revenue Growth in 2020:
Based on type, the global ketones market is segmented into ketone salts, ketone oil, ketone esters, and raspberry ketones. The ketone salts segment dominated other segments in terms of largest revenue share in the global market in 2020. Ketone salts comprise essential minerals such as calcium, sodium, and magnesium, and help increase ketone levels in the blood. Rising adoption of healthy lifestyles, growing demand for dietary supplements and functional drinks, increasing use of ketone salts in these products, and growing use in nutricosmetics are major factors driving this segment’s revenue growth.
Segment to Lead in Terms of Revenue Share:
Based on application, the global ketones market is segmented into food & beverages, supplements, and cosmetics & personal care products. The supplements segment is projected to register the fastest revenue growth rate in the global market over the forecast period. Rising burden of diabetes, obesity, and other chronic illnesses, growing inclination of consumers towards healthier lifestyles and food habits, rising focus on weight loss and weight management, and increasing demand for health supplements including nutraceuticals and cosmeceuticals are major factors driving revenue growth of this segment.
Asia Pacific to Lead in Terms of Fastest Revenue CAGR:
Among regional markets, the Asia Pacific ketones market is expected to register the fastest revenue CAGR in the global market during the forecast period. Rise in geriatric population, rising prevalence of chronic diseases such as diabetes, obesity, cardiovascular diseases, and cancer, increasing demand for dietary supplements and functional foods and beverages, improving living standards of consumers, and rising disposable incomes are factors expected to significantly contribute to the Asia Pacific market growth.
Major Companies in the Global Ketones Market Include:
- Perfect Keto
- HVMN Inc.
- BPI Sports
- Ketone Aid Inc.
- Compound Solution Inc.
- Sapien Body
- Zhou Nutrition
- Know Brainer Foods
- Ion Labs
- Keto & Company
- Boli Naturals
- Volkem Chemicals Pvt. LLP
- Union Pharmpro Company Ltd.
- Nutrex Research
- Ancient Nutrition
- Zenwise Health
- Juvenescence Ltd.
- Ketond Nutrition, LLC
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For the purpose of this report, Reports and Data has segmented the global ketones market based on type, form, application, distribution channel, and region:
Type Outlook (Revenue, USD Million; 2018-2028)
- Ketone Salts
- Ketone Oil
- Ketone Esters
- Raspberry Ketone
Form Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
- Nutritional Supplements
- Food & Beverage
- Cosmetics & Personal Care Products
Distribution Channel Outlook (Revenue, USD Million; 2018-2028)
- Direct Channels
- Indirect Channels
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Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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