by The global glutathione market is estimated to be valued at US$ 252.1 Mn in 2022 and is expected to exhibit a CAGR of 8.8% over the forecast period of 2023-2030, according to a report by Coherent Market Insights.
Market Overview:
Glutathione is a natural antioxidant produced by the body, but its levels may decrease due to factors such as age, stress, and poor nutrition. This has led to a growing demand for glutathione supplements, as they help in reducing oxidative stress and preventing damage caused by free radicals. Glutathione supplements also have various other health benefits, including detoxification, immune system support, and improved skin health. With the increasing awareness about the importance of antioxidants in maintaining overall well-being, the demand for glutathione products is expected to witness significant growth in the coming years.
Market key trends:
The key trend in the glutathione market is the rising adoption of glutathione products for skin whitening purposes. Glutathione has been widely recognized for its skin lightening properties, as it inhibits the production of melanin, the pigment responsible for skin color. This has led to a growing demand for glutathione-based skin whitening products, including creams, lotions, and soaps. Moreover, several cosmetic clinics and skincare centers are also offering glutathione injections for skin lightening treatments. The trend of using glutathione products for skin whitening is expected to drive the growth of the glutathione market during the forecast period.
Porter’s Analysis:
Threat of New Entrants: The glutathione market faces a moderate threat of new entrants due to the presence of established key players and high entry barriers such as stringent regulations and intellectual property rights. However, the growing demand for glutathione in various industries, such as pharmaceuticals and cosmetics, may attract new entrants.
Bargaining Power of Buyers: The bargaining power of buyers in the glutathione market is moderate. Buyers have the flexibility to choose among different suppliers but their bargaining power is limited due to the limited number of key players and the specialized nature of glutathione.
Bargaining Power of Suppliers: The bargaining power of suppliers in the glutathione market is high. Glutathione is primarily sourced from raw materials such as yeast, and there are limited suppliers in the market. This gives suppliers an advantage in negotiating prices and terms with buyers.
Threat of New Substitutes: The threat of new substitutes in the glutathione market is relatively low. Glutathione plays a unique role in various biological processes and has no direct substitutes. However, advancements in technology and research may lead to the development of alternative solutions in the future.
Competitive Rivalry: The glutathione market is highly competitive due to the presence of key players that dominate the market. These players have a strong brand reputation, established distribution channels, and patented technology. The competitive rivalry is further intensified by the continuous product innovations and patents obtained by these key players.
Key Takeaways:
The global glutathione market is expected to witness high growth, exhibiting a CAGR of 8.8% over the forecast period (2023-2030). The increasing awareness regarding the benefits of glutathione in improving cellular health and boosting the immune system is driving the market growth. Furthermore, the rising demand for glutathione in the pharmaceutical and cosmetics industries is contributing to market expansion.
In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the glutathione market. The region is witnessing significant growth due to the increasing population, rising disposable income, and growing healthcare infrastructure. Moreover, the presence of key players in countries like China and Japan further contributes to the market growth in the region.
Key players operating in the glutathione market include Kyowa Hakko Bio Co., Ltd., Shandong Jincheng Biological Pharmaceutical Co., Ltd., KOHJIN Life Sciences Co., Ltd., Shenzhen GSH Bio-Technology Co, Ltd, Kaiping Genuine Biochemical Pharmaceutical Co., Ltd., Nissor Pharmaceuticals Ltd., and Jarrow Formulas, Inc. These key players have a strong market presence, extensive product portfolios, and emphasize research and development to stay ahead in the competitive market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
