Market Research Future (MRFR) has published on the “Global Citicoline Market”.
Citicoline market is estimated to register a CAGR of 9.21% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global citicoline market— Kyowa Hakko Bio Co., Ltd (Japan), Vitabiotics Ltd (UK), Grupo Ferrer Internacional, S.A (Spain), Life Extension (US), UNION KOREA PHARM CO LTD (South Korea), Invision Medi Sciences (India), RPG Life Sciences Ltd (India), CHEMO BIOLOGICAL (India), Century Pharma (India), and HARBIN PHARMACEUTICAL GROUP (China).
Analyst Comment:
The report highlights the increasing prevalence of neurological disorders and growing awareness about cognitive health management among consumers. Overall, the report suggests that the citicoline market is expected to witness significant growth during the forecast period due to the increasing demand for citicoline in neurological disorders and the growing awareness about cognitive health management among consumers.
Citicoline Market Highlights
The global citicoline market is accounted to register a CAGR of 9.21% during the forecast period and is estimated to reach USD 0.96 billion by 2032.
The inclusion of citicoline in the sports nutrition industry has emerged as a notable driver for the Citicoline market. Sports nutrition products, such as pre-workout supplements, energy drinks, and nootropic formulations, have witnessed a surge in popularity among athletes, fitness enthusiasts, and individuals seeking improved physical and mental performance. Moreover, Citicoline's role in this market can be attributed to its potential cognitive-enhancing properties, which can benefit athletes and active individuals in various ways.
Furthermore, one of the primary reasons Citicoline has gained traction in the sports nutrition industry is its potential to mitigate the effects of mental fatigue and improve mental resilience during intense physical activity. Athletes and fitness enthusiasts often encounter challenging training regimens and competitions that demand mental as well as physical endurance. Citicoline's ability to boost brain energy and neurotransmitter levels can help athletes stay sharp and focused, even under pressure.
The rising awareness of cognitive health and the growing demand from the fitness and sports industries are propelling the market growth. However, competition from alternative products are expected to hamper the growth of the global market. Nevertheless, an increasing aging population is projected to create lucrative opportunities for market players.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Citicoline Market Research Report
Segment Analysis
The global citicoline market has been segmented based on product, application, age group, and distribution channel.
On the basis of the product, the market is segmented into capsules, tablets, powder, eye drops, and injections. The capsules segment was attributed to holding the largest market share of over 37.23% in 2022 revenue as estimated by MRFR analysts. This is due to the capsules are one of the most common forms of citicoline supplements.
Further, we estimate that the market segment would continue to pool in the largest chunk of revenue during the forecast period. It has been identified that the segment market yet witnesses continuous innovations and movements in terms of new product launches.
On the basis of the application, the market is segmented into sports nutrition, personal wellness, and treatment. Further, treatment is further segmented into glaucoma, stroke, Alzheimer disease, bipolar depression, and others. The personal wellness segment is projected to have the largest market share during the forecast period. This is due to a wide range of consumers who use citicoline for general cognitive enhancement and overall brain health.
On the basis of the age group, the market is segmented into pediatric, adult, and geriatric. The adult segment is projected to have the largest market share during the forecast period. This is due to adults often using citicoline supplements to improve memory, focus, and cognitive performance in their daily lives, especially in demanding work or academic settings.
On the basis of the distribution channel, the market is segmented into the online channel and offline channel. The offline channel segment is projected to have the largest market share during the forecast period. This is attributed to the Offline channel offering a hands-on shopping experience, it may have a more limited product selection compared to online platforms.
Regional Analysis
The global citicoline market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe citicoline market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The citicoline market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the world’s citicoline market comprises of Middle East, Africa, and Latin America.
the country's aging population and the increasing interest in cognitive health are expected to foster North America’s market growth. Moreover, increasing product launches are expected to support market growth.
Moreover, the Europe market has been persistently growing owing to a growing aging population, increased demand for citicoline-based products, and the increasing awareness of mental health and well-being across the region.
Additionally, market factors, such as the rising incidence of cognitive disorders like Alzheimer's disease, and the increasing awareness about cognitive health are driving the Asia-Pacific region’s growth.
Furthermore, the rest of the world's patient portal market is divided into the Middle East, Africa, and Latin America. The major factors driving the growth of the citicoline market in the region are the growing awareness of cognitive health and a rising elderly population.
Key Findings of the Study
- The global citicoline market is expected to reach USD 0.96 billion by 2032, at a CAGR of 9.21% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, owing to the increasing awareness about cognitive health in the Asia-Pacific region.
- Based on product, the capsules segment was attributed to holding the largest market in 2022, with an approximate market share of around 37.23%.
- Kyowa Hakko Bio Co., Ltd (Japan), Vitabiotics Ltd (UK), Grupo Ferrer Internacional, S.A (Spain), Life Extension (US), UNION KOREA PHARM CO LTD (South Korea), Invision Medi Sciences (India), RPG Life Sciences Ltd (India), CHEMO BIOLOGICAL (India), Century Pharma (India), and HARBIN PHARMACEUTICAL GROUP (China) are the key market players.
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Companies Covered | 15 |
Pages | 113 |
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