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Insights into the Alpha Lipoic Acid Market: Growth Drivers, Opportunities, and Trends

04-24-2024 06:19 AM CET | Science & Education

Press release from: Allied Market Research

Insights into the Alpha Lipoic Acid Market: Growth Drivers,

Allied Market Research recently released a comprehensive report titled "Alpha Lipoic Acid Market by Product Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030." The report reveals that the global alpha lipoic acid industry, valued at $0.7 billion in 2020, is poised to reach $1.4 billion by 2030, with a projected compound annual growth rate (CAGR) of 6.3% from 2021 to 2030.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… : https://www.alliedmarketresearch.com/request-sample/A13701

Key Growth Drivers:

The robust demand for dietary supplements and the increasing popularity of anti-aging skincare products are major factors propelling the growth of the global alpha lipoic acid market. However, concerns regarding potential side effects pose a challenge to market expansion. Nonetheless, the rising usage of alpha-lipoic acid for treating nerve pain in diabetic patients presents promising opportunities for future growth.

Alpha lipoic acid, an organic compound with antioxidant properties, plays a vital role in energy metabolism. It occurs naturally in the body or can be synthetically produced through chemical synthesis of thioctic acid with R(+) alpha-methylbenzylamine.

๐๐ฎ๐ซ๐œ๐ก๐š๐ฌ๐ž ๐„๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/purchase-enquiry/A13701

The growing awareness of maintaining a healthy lifestyle has led to a surge in demand for food supplements to provide additional nutritional support. For instance, a report by India Brands Equity Foundation predicts a 21% compound annual growth rate (CAGR) in the demand for dietary supplements, reaching $10 billion by 2022. Alpha-lipoic acid is commonly included in multivitamin formulas to enhance the body's detoxification process and regulate cholesterol levels. Moreover, its ability to improve glucose and ascorbate handling in blood vessels further contributes to its popularity. Additionally, the increasing preference for alpha-lipoic acid-based supplements among youth and fitness enthusiasts is expected to drive market growth.

Segment Analysis:

The R alpha lipoic acid segment dominated the market in 2020, accounting for four-fifths of the global alpha lipoic acid market share. It is projected to maintain its leadership position throughout the forecast period, with an estimated CAGR of 6.6% from 2021 to 2030. The segment's growth is attributed to its widespread use in neuropathy treatment among diabetic patients.

On the other hand, the pharmaceuticals segment held the largest share of the market in 2020, contributing more than two-fifths of the global alpha lipoic acid market. It is expected to maintain its lead position, driven by lifestyle changes and an increase in energy-dense diets. This segment is anticipated to exhibit the highest CAGR of 6.8% from 2021 to 2030.

Regional Outlook:

North America dominated the market in terms of revenue in 2020, accounting for over one-third of the global alpha lipoic acid market. However, the Asia-Pacific region is forecasted to witness the fastest CAGR of 7.4% from 2021 to 2030, driven by the widespread utilization of alpha-lipoic acid across various sectors including cosmetics and pharmaceuticals.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ข๐ง ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ข๐ง๐  ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐•๐ข๐ฌ๐ข๐ญ ๐‡๐ž๐ซ๐ž: https://www.alliedmarketresearch.com/alpha-lipoic-acid-market/purchase-options

Key Market Players:

Prominent players in the alpha lipoic acid market include AlzChem Group AG, GeroNova Research Inc., Haihang Industry, HiMedia Laboratories, NOW Foods, Olon S.p.A, Rexall Sundown Inc., Source Naturals Inc., Suzhou Fushilai Pharmaceutical Co. Ltd., and Wellona Pharma.

๐’๐ข๐ฆ๐ข๐ฅ๐š๐ซ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ :
Caprylic/Capric Triglyceride Market : https://www.alliedmarketresearch.com/caprylic-capric-triglyceride-market-A12626

Cellulose Acetate Market : https://www.alliedmarketresearch.com/cellulose-acetate-market-A12628

Andalusite Market : https://www.alliedmarketresearch.com/andalusite-market-A12631

Bio Concrete Tiles Market : https://www.alliedmarketresearch.com/bio-concrete-tiles-market-A12635

Contact:
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Web: https://www.alliedmarketresearch.com

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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