Market Scope
Market Research Future (MRFR) believes that the ketone supplements market can touch an approximate valuation of USD 8,621.9 Million by the year 2027. MRFR also projects the market to thrive at a rate of 6.2% between 2020 and 2027 (analysis period).
Major Drivers and Impediments
Increased preference for convenience food, surge in health awareness among people, and widespread knowledge about the health benefits of ketones are some of the key factors that render significant market growth. The demand and the application range of ketone supplements are expanding at a rapid pace, in line with high availability of different forms in the market, namely powder, tablets and capsules.
Ketone supplements have gained popularity among consumers focused on losing weight. The demand for exogeneous ketone supplements is surging among sports persons and athletes for improved performance, and these products are fast replacing caffeinated energy drinks since the latter has a few side effects. The emerging trend of better well-being and healthy living along with the surge in the purchasing capacity of consumers have boosted the spending on premium and luxury products, which should also work in favor of the worldwide market.
Innovative promotional advertising via social media as well as celebrity endorsements are the most adopted marketing tactics among leading companies. The product has sparked the interest of the millennial and Gen Z populations looking to lose weight and improve their gut health. Sensing the host of opportunities presented by the market, several manufacturers are introducing ketone supplements that claim to facilitate weight reduction along with a higher number of health benefits.
Segmental Review
The top market segments listed in the MRFR study are product type and distribution channel.
The products types that have been considered in the report are powder, liquid, gummies, tablets, and capsules, and more. The biggest share in the global market belongs to the powder segment, which took the lead in 2019. The absorption rate of the human body is faster when it comes to supplements in the powder form, which makes the manufacturers sell ketone supplements in this form.
Distribution channels profiled in the report include store based as well as non-store based. Store-based channels are known for selling majority of the ketone supplements as retailers prefer making their products available via specialty stores and supermarkets & hypermarkets. In 2019, the top spot was procured by the specialty stores segment.
Regional Insight
Asia Pacific/APAC, North America, Europe, along with RoW/rest of the world are the primary markets for ketone supplements across the world.
North America stood as the market leader in 2019 and has remained in the lead since then till present, thanks to the robust demand for ketone supplements among the consumers with strong inclination towards weight-reducing products or dietary supplements. The US market for ketone supplements is the most lucrative in the region and is characterized by the presence of several reputed companies along with significant product awareness among the people. High availability of various types of ketone supplements remains one of the top growth boosters. The demand for ketone salts in the US is substantially high and is vastly used as a dietary supplement, mostly among the youth and athletes. Companies are mostly focused on boosting their manufacturing capacity to meet with the escalating demand.
Asia Pacific is one of the most profitable markets for ketone supplements and boasts of large-scale production of the same. Dramatic increase in urbanization, surging in disposable income and the rising expenditure on healthy products should ensure expansion of the market size in the region. The accelerated awareness levels among consumers about ketone diets, especially in the highly populous countries like India and China will foster the sales in the following years. Rapid growth in the industrialization rate and the thriving chemical sector with strong focus on infrastructure development can benefit the regional market as well.
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Major Contenders
Nutrex Research (US), Ancient Nutrition (US), BPI Sports (US), Ketologic (US), Zenwise Health (US), Ketoneaid Inc (US), Sapien Body (US), Perfect Keto (US), Keto and Company (US), Pruvit Ventures, Inc (US), Ketond LLC (US), HVMN Inc. (US), Zhou Nutrition LLC (US), Finaflex (US) are some of the major manufacturers of ketone supplements in the global industry.
Recent News
November 2020
Genius Gourmet Inc. has extended its line of healthy products, with the addition of All Natural and Ready to Drink Keto Shake. This chocolate Keto Shake will be added to the burgeoning range of keto protein bars and keto chips. The latest chocolate keto shake is an ideal ready to drink meal replacement, proving to perfect for consumers facing time crunch. The tasty drink is rich with milk products that offer a compete chocolate experience to the consumers.
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