North America Ketones Market
Market Introduction
The US, Canada, and Mexico are among the major economies in North America, and the US dominates the market in this region. According to Harvard T.H. Chan School of Public Health, in the US, roughly two out of three adults (69%) are overweight or obese, and nearly one out of three (36%) is obese. A rise in the prevalence of obesity in North America is anticipated to drive demand for ketone supplements and food products for shredding weight. This population is generating high demand for low-carb and high-protein food products and supplements with natural ingredients. Consumer focus on improving their diet habits is a critical trend in the food & beverages industry. Amid the COVID-19 pandemic, a large percentage of consumers in this region have adopted healthier food habits. Raspberry ketone is extracted from red raspberries as well as kiwifruit, peaches, grapes, apples, other berries and various vegetables, is believed to address the issue of obesity. The synthetically produced version of raspberry ketone is commonly used in cosmetics and personal care products. Soaring demand from various end use industries is the major factor driving the growth of the North America ketones market.
The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the food & beverage industry in the region due to restricted supply chain. In addition, the overall disruptions in manufacturing process, supply chain disintegration, shortage of raw materials, and other factors has severely impacted the operations of various industries across the region leading to lowering in demand for ketone. However, remarkable success of vaccination drives across the region and recommencement of businesses is projected to have positive impact on business activities and economic growth which is projected to favor the growth of ketones market in North America over the forecast period.
Market Overview and Dynamics
The ketones market in North America is expected to grow from US$ 1,051.44 million in 2021 to US$ 1,620.81million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Ketone and ketone-based product manufacturers are heavily adopting product launch strategy to expand their customer base and increase their profitability. In 2019, new product launched in the "keto" category more than doubled over 2018. Most of the new products launched belong to the beverage category. The RTD protein drinks and ready-to-mix shakes are ideal for the popular low-carb, high-fat KETO diet. They have emerged as a suitable on-the-go snack or a meal replacement with the right nutritional ratios that help attain ketosis and fat-burning advantages. Moreover, ketogenic supplement manufacturers are focusing on product launch strategy to cater to rising demands. For instance, Designs for Health (DFH) introduced its first range of ketogenic products tailored for the sales through a practitioner channel. DFH sells more than 350 supplements to healthcare practitioners. The company also created awareness about Type 2 diabetes along with the advantages of consuming ketogenic supplements in decreasing blood sugar levels by limiting carbohydrate consumption. Thus, the active participation of food & beverages and dietary supplements manufacturers in the launch of new ketogenic products is offering significant growth opportunities for the ketone market players.
Key Market Segments
The North America ketones market is segmented into form, application and country. Based on form, the ketones market is segmented into solid and liquid. The liquid segment dominated the market in 2020 and solid segment is expected to be the fastest growing during the forecast period. Based on application, the North America ketones market is segmented into food and beverage, dietary supplements, personal care and cosmetics, and others. The others segment dominated the market in 2020 and dietary supplements segment is expected to be the fastest growing during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on ketones market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Advanced Biotech; Aurochemicals; Compound Solutions Inc.; Eastman Chemical Company; Hunan NutraMax Inc.; Orchid Chemical Supplies Ltd; Royal Dutch Shell plc.; SABIC; and Taj Pharmaceuticals Chemicals are among others.
Reasons to buy report
North America Ketones Market Segmentation
North America Ketones Market –By
Form
North America Ketones Market –By Application
North America Ketones Market -By Country
North America Ketones Market -
Company Profiles
Strategic insights for the North America Ketones provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,051.44 Million |
| Market Size by 2028 | US$ 1,620.81 Million |
| Global CAGR (2021 - 2028) | 6.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Ketones refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Ketones Market is valued at US$ 1,051.44 Million in 2021, it is projected to reach US$ 1,620.81 Million by 2028.
As per our report North America Ketones Market, the market size is valued at US$ 1,051.44 Million in 2021, projecting it to reach US$ 1,620.81 Million by 2028. This translates to a CAGR of approximately 6.4% during the forecast period.
The North America Ketones Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Ketones Market report:
The North America Ketones Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Ketones Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Ketones Market value chain can benefit from the information contained in a comprehensive market report.
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