Overview and Scope
Ketone refers to a class of organic compounds that has a carbonyl group, where a carbon atom is covalently bonded to oxygen atoms and the remaining two bonds have hydrocarbon radicals. It is found in various sugars and medical compounds such as natural and synthetic steroid hormones.
Sizing and Forecast
The ketones market size has grown strongly in recent years. It will grow from $531.09 billion in 2023 to $569.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to industrial applications in solvents, growth of pharmaceutical and cosmetic industries, expansion of the paints and coatings industry, adoption in adhesives and sealants, development of specialty chemicals..
The ketones market size is expected to see strong growth in the next few years. It will grow to $772.88 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to shift towards bio-based ketones, rising demand for high-performance polymers, growing focus on green chemistry, demand for low-voc coatings, continued growth of electronics industry.. Major trends in the forecast period include technological innovations in synthesis processes, biomedical and therapeutic research, innovations in ketone supplements, ketogenic diet trend, collaborations and development..
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The ketones market covered in this report is segmented –
1) By Type: Ketone Salts, Ketone Esters, Ketone Oil, Raspberry Ketone
2) By Form: Liquid, Solid, Semi-Liquid
3) By Distribution Channel: Direct, Indirect
4) By Application: Cosmetics And Personal Care, Food And Beverages, Dietary Supplements, Other Applications
Asia-Pacific was the largest region in the ketones market in 2023. The regions covered in the ketones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing demand for processed beverages and foods is significantly contributing to the growth of the Ketones market. Processed beverages and foods are any food that has been altered during preparation to make their flavor more appealing and to extend their shelf life. Ketones are added to various food and beverage items such as energy drinks, supplements, or energy bars to increase their nutritional content, which is consumed by professional athletes and fitness enthusiasts who practice intense workouts and often look for ways to boost their energy and performance and it also reduces the glycemic response that helps in controlling blood sugar levels. For instance, in December 2021, according to the Center for the Promotion of Imports (CBI), a Netherland-based federal agency for foreign affairs, Europe is the largest market for processed fruit and vegetables in the world, absorbing almost half of the global supplies, where imports of processed fruit and vegetables represented 45% of global imports, followed by Asia (27%), North America (17%), Latin America and the Caribbean (3%), Africa (2.5%) and Oceania (2%) in the year 2020. Furthermore, in 2021, Food Export Midwest USA, a US-based non-profit organization that promotes the export of food and agricultural products, Australia ranks 9th in the world for U.S. exports of processed foods accounts US$919 million in 2021, processed food including cooked, canned, frozen, packaged or fortifying foods items. Therefore, the increased demand for processed beverages and food is driving the growth of the Ketones market.
Key Industry Players
Major companies operating in the ketones market are developing new drinkable ketones to gain a competitive edge in the market. Drinkable ketones generally refers to beverages or supplements that contain exogenous ketones, which are ketones produced outside the body. For instance, in January 2022, Health Via Modern Nutrition, a US-based nutrition company launched Ketone-IQ, representing the next generation of drinkable ketones. H.V.M.N. focuses on metabolic health and the production of ketones, which are natural energy sources for the body. Ketone-IQ is designed to enhance metabolic states, offering benefits such as sustained energy, improved endurance, mental clarity, and appetite control. The drinkable ketone is aimed at a broader consumer base, including high-performing athletes, military personnel, and health-conscious individuals.
The ketones market report table of contents includes:
1. Executive Summary
2. Ketones Market Characteristics
3. Ketones Market Trends And Strategies
4. Ketones Market – Macro Economic Scenario
5. Global Ketones Market Size and Growth
…….
31. Global Ketones Market Competitive Benchmarking
32. Global Ketones Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ketones Market
34. Ketones Market Future Outlook and Potential Analysis
35. Appendix
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