Ketones Market Overview:
As per the research report by DataM Intelligence, the global ketones market was valued at USD billion in 2021; it is projected to reach USD billion by 2029, with growth at a CAGR of % over the forecast period 2022-2029. Ketones are substances produced in the liver that serve as an alternative fuel source for the body. When the human body does not have enough carbohydrates, it begins to burn ketones to provide energy. Dietary carbohydrate restriction accelerates ketone production while decreasing insulin release. It is known as nutritional ketosis, which helps to burn fat rather than carbohydrates and promotes weight loss.
Growing adoption of ketogenic diets by young people will be a major driver for the global ketones market:
With rising awareness about the impact of obesity, many young people have adopted ketogenic diets as a part of a healthy lifestyle. A diet high in fats and low in carbohydrates is called a ketogenic diet. Adopting a diet helps the body enter a state of ketosis, when it may burn fat instead of carbohydrates. Ketones are metabolic byproducts that are produced as a result of the burning of fat. The growing popularity of the ketogenic diet is expected to boost the growth of the global ketones market during the forecast period.
The high cost of ketone-based products is expected to restrain the global ketones market:
Over the forecast period, the high cost of ketone-based products is expected to prevent the growth of the global ketones market. Keto products are priced at the premium end of the market and the current difficult economic situation leads people to switch to cheaper substitutes. The high cost of ketone-based products prevents their wider adoption and is restraining the growth of the global ketones market.
Increasing demand for ketones from various industries is expected to generate new opportunities for the global ketones market:
Due to the versatile nature of ketones, they are being adopted by various industries. Ketones are being used in the production of paints, varnishes and lacquers. Furthermore, due to their capacity to destroy germs, ketones are becoming increasingly in demand as a fractionating agent in the extraction of oils and fats and for sterilizing medical equipment. Ketones are also used as intermediates during the production of various chemicals.
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Serious side-effects associated with ketone supplements are expected to present challenges for the global ketones market:
Supplements for undertaking a keto diet can have unfavorable side effects, including nausea, poor breath, stomach pains, heartburn, constipation, and diarrhea. Ketone-based supplements are also unsuitable for people with high blood pressure, mental health issues and type 1 diabetes.
COVID-19 Impact Analysis
The COVID-19 pandemic has led to increased health consciousness among consumers. As a result, many social media platforms and online health training websites have promoted the consumption of nutritious foods, which also aid in weight management. As a result, the demand for weight-management products and ketone supplements increased during the pandemic, directly driving the ketones market. Despite the challenges faced during the pandemic, the global ketones market is expected to generate significant growth in the coming years.
Recent Developments in the Industry:
- In June 2022, Abbott announced the development of a new wearable glucose-ketone monitoring system. It is primarily intended for diabetic patients to enable them to continuously monitor ketone levels to prevent diabetic ketoacidosis.
- In July 2022, Readout Health, a biomedical startup, received a grant of US$ 360,000 from the Washington University School of Medicine to test the efficacy of its handheld ketone breath monitoring system for patients with type 1 diabetes.
- In October 2021, research published in the Journal of Physiology indicated that regular ketone supplementation might aid brain function and health in people with obesity.
Market Segmentation:
The scope of the report covers segmentation based on supplement type, form, application and region. The global ketones market is segmented by supplement type into ketone salts, ketone esters, ketone oils and raspberry ketones. The global ketones market is segmented by application into food and beverages, cosmetics and personal care products and dietary supplements. The global ketones market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle East and Africa.
- Food and Beverages: Ketones are widely used in the manufacturing of non-alcoholic beverages and frozen dairy products such as of frozen dairy products, such as cheese, butter, ice cream, and yogurt.
- Cosmetic and Personal Care Products: Due to their antioxidant properties, ketones are widely used in anti-aging creams and for the production of chemical-free cosmetics. Skincare cosmetic formulations are among the major users of ketones.
- Dietary Supplements: The growing popularity of ketogenic diets has led to an increase in demand for ketone-based supplements used for fat loss. Ketone supplements provide numerous advantages, including effective weight loss, cognitive enhancement, anti-inflammatory properties, and improved athletic performance.
Regional Classification:
According to the DataM Intelligence market research report, the global ketones market is divided into North America, South America, Europe, Asia-Pacific, Middle East and Africa.
According to a 2021 study by the International Food Information Council on keto diets, 12.9 million North American adults follow the ketogenic diet annually. The study further states that at least 10% of Canadians are considering the Keto diet, while 4% are currently attempting or have attempted a ketogenic diet. Moreover, with the increasing demand for ketone products, many companies are manufacturing different types of supplements to cater to consumer demand. Many new startups have emerged in North America in recent years, focusing on developing keto-friendly health foods and ketone supplements. Growing health consciousness is the major factor in the increasing popularity of keto diets in Europe. Consumers across Europe are drawn to the hype around keto for weight loss and its advantages, like greater energy and mental clarity. The European ketones market is expected to witness sustained growth in the coming years. The high prevalence of obesity, diabetes and heart disease has led to increasing awareness about healthy lifestyles in Asia-Pacific. During the forecast period, the Asia-Pacific ketones market is slated to show sustained growth.
Competitive Analysis:
The global ketones market is highly competitive and fragmented, with various established companies and startups active in the global ketones market. The major players adopt several growth strategies such as launching products and supplements, collaborations, and joint ventures, thereby contributing to the growth of the global ketones market.
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Major Companies:
Some key companies contributing to the global ketones market growth include Perfect Keto LLC, Health Via Modern Nutrition Inc., BPI Sports LLC, KetoLogic LLC, Pruvit Ventures, Inc., and KetoneAid Inc., Boli Naturals, Zhou Nutrition, Iron Labs, Inc. and Keto & Company, among others.
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