May 20, 2024

The Growing Demand for Glutathione Market is Estimated to Driven by Rising Health Consciousness

Glutathione is a tripeptide antioxidant produced naturally in the body that plays an important role in immune function and metabolism. Glutathione products such as supplements come in capsule, powder, and liquid forms and provide antioxidant protection combatting oxidative stress. Due to the hectic pace of modern lifestyles, some people may have lower levels of glutathione leaving them more prone to illness or disease. Taking glutathione supplements supports liver detoxification, inhibits free radical damage, protects cells from heavy metal and chemical toxins, improves collagen production for skin and digestive health, boosts immunity, and protects cells from radiation damage.

The global Glutathione Market is estimated to be valued at US$ 274.28 million in 2023 and is expected to exhibit a CAGR of 18 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Glutathione is widely marketed as an anti-aging supplement that improves collagen production, brightens skin complexion, and reduces signs of aging like wrinkles and age spots. Consumer awareness about glutathione’s skin benefits through social media influencers and celebrity endorsements have boosted its demand in the cosmeceuticals segment. Manufacturers are introducing new delivery forms like glutathione gummies and lozenges targeting health conscious millennials and generation Z consumers. The market is further expected to grow due to strong online retail penetration and availability of glutathione products on e-commerce platforms with attractive discounts.

Porter’s Analysis
Threat of new entrants: The global glutathione market has moderate threat of new entrants due to high initial investments required for research and development as well as production facilities.

Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of multiple brands and suppliers in the market. However, differentiated products provide some buyer power.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as procurement of raw materials requires interaction with few stakeholders but availability of substitutes restricts the supplier power.

Threat of new substitutes: Threat from substitutes like amino acids, vitamins and phytonutrients is low to moderate as glutathione has specific physiological functions in the human body.

Competitive rivalry: The global market has presence of some key players. However, market is dominated by regional players offering competitive prices.

Key Takeaways

The Global Glutathione Market Size is expected to witness high growth over the forecast period. The global Glutathione Market is estimated to be valued at US$ 274.28 million in 2023 and is expected to exhibit a CAGR of 18 % over the forecast period 2023 to 2030.

Geographically, the Asia Pacific region is expected to witness fastest growth in the market owing to increasing health awareness and growing pharmaceutical industry in emerging economies like China and India. North America region currently dominates the global market due to growing neurological disorders, chronic liver diseases and high per capita healthcare expenditure in the US and Canada. Growing geriatric population susceptible to age-related diseases also supports market growth.

Key players: Key players operating in the glutathione market are BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Samsung SDI Co. Ltd, TianJin Lishen Battery Joint-Stock CO. LTD, GS Yuasa Corporation. Glutathione has specific physiological functions in human body cells like neuroprotection, immune-modulation etc. thereby used as a dietary supplement especially in sports nutrition segment.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it