L-Carnitine Market: Trends, Growth, and Future Outlook
The global L-carnitine market size is expected to reach USD 298.7 billion by 2030, expanding at a CAGR of 4.9% from 2023 to 2030, as per a new report by Grand View Research Inc. Growing consumer awareness regarding product benefits, along with increasing demand from end-use industries such as pharmaceutical, nutraceutical, and animal feed, is expected to drive the market during the forecast period. L-carnitine and its derivatives are used for numerous applications including male infertility, kidney treatment, cardiovascular diseases, weight reduction, and bone mass. It is also used in various products including animal feed, health supplements, functional drinks, medicines, and other nutraceutical products. Manufacturers are focused on R&D activities to reduce the complexity in manufacturing techniques as well as product differentiation. Major manufacturers like Lonza, Ajinomoto, Sigma Tau Group, and Seikatsu have patented their manufacturing processes. Prod...