Report : South America Ketones Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Solid and Liquid), and Application (Food and Beverage, Dietary Supplements, Personal Care and Cosmetics, and Others)
Solid Segment is Expected to be the Fastest Growing During the Forecast Period for SAM Region
According to a new market research study on “SAM Ketones Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form and Application” is expected to reach US$ 301.71million by 2028 from US$ 211.61 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the SAM ketones market along with the drivers and restraints pertaining to the market growth. Accelerating demand from various end use industries is the major factor driving the growth of the SAM ketones market. However, issues associated with the lack of awareness and low adoption of ketone supplements hinder the growth of SAM ketones market.
The SAM ketones market is segmented into form, application and country. Based on form, the ketones market is segmented into solid and liquid. The liquid segment dominated the market in 2020 and solid segment is expected to be the fastest growing during the forecast period. Based on application, the SAM ketones market is segmented into food and beverage, dietary supplements, personal care and cosmetics, and others. The others segment dominated the market in 2020 and dietary supplements segment is expected to be the fastest growing during the forecast period. Based on country, the ketones market is classified into Brazil, Argentina, and Rest of SAM.
The country with the most confirmed COVID-19 cases in South America was Brazil, followed by Argentina, Peru, Chile, and Ecuador. Governments across the region have implemented several preventive measures to protect their residents and limit the spread of the novel coronavirus. Limitations on operations of various industries across the region have adversely affected the demand for ketones for different applications which is further expected to restrain the growth of ketones market in South America.
Eastman Chemical Company; Orchid Chemical Supplies Ltd; Royal Dutch Shell plc.; SABIC; and Taj Pharmaceuticals Chemicals are among the leading companies in the SAM ketones market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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