by Glutathione is an antioxidant that plays an important role in protecting cells and promoting optimal health. It helps boost the immune system, fight free radicals, support liver function, and promote youthful looking skin. The demand for glutathione supplements has been rising significantly owing to increasing health consciousness among consumers and growing awareness about its health benefits. Glutathione supplements come in various forms including pills, powders, and topical creams. They provide a convenient and effective way to increase glutathione levels in the body.
The global Glutathione Market is estimated to be valued at US$ 540 billion in 2023 and is expected to exhibit a CAGR of 26% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the glutathione market is the increasing demand for topical glutathione products. Topical glutathione in the form of serums, creams, and gels is gaining popularity due to its ability to penetrate the skin and boost collagen production for firmer skin. Leading brands are launching innovative topical formulations with added antioxidants to target specific skin concerns like aging, dark spots, and wrinkles. Furthermore, growth in the e-commerce sector is providing a platform for direct-to-consumer sales of glutathione supplements, thus boosting their accessibility. This trend is expected to drive the market substantially over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the glutathione market is moderate. The requirement of large capital investment in R&D and manufacturing infrastructure for production of glutathione poses barrier for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have numerous options to choose from and switching costs are low due to presence of several manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to presence of several raw material suppliers in the market.
Threat of new substitutes: The threat of new substitutes is low. Glutathione has unique properties and wide range of applications which are difficult to substitute.
Competitive rivalry: The glutathione market is moderately competitive with presence of few global as well as regional players. Key players focus on expanding their geographical footprint and product portfolio to strengthen their position in the market.
Key Takeaways
The Global Glutathione Market Demand is expected to witness high growth.
Regional analysis: Asia Pacific region dominates the global glutathione market and is expected to grow at highest CAGR during the forecast period. Presence of key manufacturing countries like China and India along with growing pharmaceutical industry in the region drives the market growth.
Key players operating in the glutathione market are Kyowa Hakko Bio, Jiangsu GYS, Shandong Jincheng Biological Pharmaceutical, and Kohjin Life Sciences. Key players focus on expanding their geographical footprint and product portfolio to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
