July 19, 2024
Glutathione Market

Glutathione Market Projected To Boost The Growth Of Skin Care Industry

The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Glutathione is an antioxidant that plays an important role in various bodily functions. It is naturally produced by the body and is also available as a dietary supplement. Glutathione has wide applications in personal care and cosmetic products owing to its anti-aging properties. It helps reduce wrinkles, dark spots and blemishes while improving the skin’s texture and elasticity. Glutathione supplements are also taken orally to boost the body’s natural antioxidant levels and support immune function. The increasing demand for natural ingredients in personal care products is driving the growth of the glutathione market.

Market key trends:

One of the key trends in the glutathione market is the increasing demand from the skin care industry. The anti-aging benefits of glutathione have elevated its demand from the cosmetic manufacturers. Glutathione helps minimize signs of aging, protect the skin from environmental stressors and improves skin complexion. Furthermore, growing health consciousness among consumers has increased the adoption of dietary glutathione supplements to boost antioxidant levels, support liver function and detoxification. The booming nutraceuticals industry is expected to provide new opportunities over the forecast period. Innovation in glutathione formulations including topical creams, serums and oral supplements with enhanced bioavailability is another trend being observed in the market.

Porter’s Analysis

Threat of new entrants: The glutathione market requires high initial investments in R&D and production facilities which limits the threat of new entrants.
Bargaining power of buyers: The presence of numerous established manufacturers limits the bargaining power of buyers in the glutathione market.
Bargaining power of suppliers: There are multiple suppliers of raw materials used to produce glutathione which reduces their bargaining power.
Threat of new substitutes: There are currently no cost-effective substitutes for glutathione available, reducing the threat from substitutes.
Competitive rivalry: The glutathione market is highly competitive due to the presence of several international brands.

Key Takeaways

The Global Glutathione Market Size is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing demand from nutritional supplements and pharmaceutical industries.

Regional analysis

The Asia Pacific region dominates the global glutathione market and is expected to grow at the fastest rate during the forecast period. This can be attributed to the rising health consciousness and growing nutritional supplement industry in the region. China represents the largest market for glutathione in the Asia Pacific region.

Key players

Key players operating in the glutathione market are 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. Kyowa Hakko Bio Co. and Shandong Jincheng Biological Pharmaceutical are the two largest manufacturers of glutathione globally.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it