Stratview Research has recently published a report on the Alpha Lipoic Acid Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.
The market is segmented by Product Type (R-lipoic Acid and S-lipoic Acid), by Application Type (Dietary Supplements, Slimming Products, Medical Drugs, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Alpha Lipoic Acid Market Analysis:
Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Alpha Lipoic Acid Market is estimated to grow from USD 902.66 million in 2021 to reach USD 1382.41 million by 2028 at a healthy CAGR of 6.22% during the forecast period.
What is alpha lipoic acid?
Alpha lipoic acid is basically an organosulfur compound which is derived from caprylic acid and is widely utilized to break down carbohydrates for efficient functioning of various organs.
Some of the companies drive the market growth:
- AlzChem AG
- GeroNova Research, Inc.
- HiMedia Laboratories Pvt., Ltd.
- Infa Group (Olon S.p.A.)
- MTC Industries, Inc.
- Qufu Maidesen Fine Chemical Co., Ltd.
- Shandong Qidu Pharmaceutical Co., Ltd.
- Shanghai Shyndec (Modern) Pharmaceutical Co., Ltd.
- Source Naturals, Inc.
- Suzhou Fushilai Pharmaceutical Co., Ltd.
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Segments Analysis
By Product Type
The market is segmented as r-lipoic acid and s-lipoic acid. The r-lipoic acid segment is estimated to be the faster-growing product type in the market during the assessment period on account of its wide range of applications in preventing diabetes, decreasing weight, reducing brain damage after stroke, enhancing skin texture, reducing migraine intensity, and influencing glucose control neuro disorders.
Regional Analysis
Asia-Pacific held more than 30% market share in 2021and is estimated to be the fastest-growing region in the market during the assessment period with India and China being the growth engines of the market. Asia-Pacific CAGR of more than 6.5% during the assessment period. Factors such as growing medical industry, increasing consumer spending toward personal well-being, and massive population with diabetes are expected to fuel the growth of the overall industry in the regional market. North America and Europe are also estimated to offer substantial growth opportunities over the assessment period.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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