North America Ketones Market

Market Introduction

The US, Canada, and Mexico are among the major economies in North America, and the US dominates the market in this region. According to Harvard T.H. Chan School of Public Health, in the US, roughly two out of three adults (69%) are overweight or obese, and nearly one out of three (36%) is obese. A rise in the prevalence of obesity in North America is anticipated to drive demand for ketone supplements and food products for shredding weight. This population is generating high demand for low-carb and high-protein food products and supplements with natural ingredients. Consumer focus on improving their diet habits is a critical trend in the food & beverages industry. Amid the COVID-19 pandemic, a large percentage of consumers in this region have adopted healthier food habits. Raspberry ketone is extracted from red raspberries as well as kiwifruit, peaches, grapes, apples, other berries and various vegetables, is believed to address the issue of obesity. The synthetically produced version of raspberry ketone is commonly used in cosmetics and personal care products. Soaring demand from various end use industries is the major factor driving the growth of the North America ketones market.  

The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the food & beverage industry in the region due to restricted supply chain. In addition, the overall disruptions in manufacturing process, supply chain disintegration, shortage of raw materials, and other factors has severely impacted the operations of various industries across the region leading to lowering in demand for ketone. However, remarkable success of vaccination drives across the region and recommencement of businesses is projected to have positive impact on business activities and economic growth which is projected to favor the growth of ketones market in North America over the forecast period.

Market Overview and Dynamics

The ketones market in North America is expected to grow from US$ 1,051.44 million in 2021 to US$ 1,620.81million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028. Ketone and ketone-based product manufacturers are heavily adopting product launch strategy to expand their customer base and increase their profitability. In 2019, new product launched in the "keto" category more than doubled over 2018. Most of the new products launched belong to the beverage category. The RTD protein drinks and ready-to-mix shakes are ideal for the popular low-carb, high-fat KETO diet. They have emerged as a suitable on-the-go snack or a meal replacement with the right nutritional ratios that help attain ketosis and fat-burning advantages. Moreover, ketogenic supplement manufacturers are focusing on product launch strategy to cater to rising demands. For instance, Designs for Health (DFH) introduced its first range of ketogenic products tailored for the sales through a practitioner channel. DFH sells more than 350 supplements to healthcare practitioners. The company also created awareness about Type 2 diabetes along with the advantages of consuming ketogenic supplements in decreasing blood sugar levels by limiting carbohydrate consumption. Thus, the active participation of food & beverages and dietary supplements manufacturers in the launch of new ketogenic products is offering significant growth opportunities for the ketone market players.

Key Market Segments

The North America 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 North America 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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on ketones market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Advanced Biotech; Aurochemicals; Compound Solutions Inc.; Eastman Chemical Company; Hunan NutraMax Inc.; Orchid Chemical Supplies Ltd; Royal Dutch Shell plc.; SABIC; and Taj Pharmaceuticals Chemicals are among others.

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• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Ketones Market Segmentation

North America Ketones Market –By Form

• Solid
• Liquid

North America Ketones Market –By Application

• Food and Beverages
• Dietary Supplements
• Personal Care & Cosmetics
• Others

North America Ketones Market -By Country

• US
• Canada
• Mexico

North America Ketones Market -Company Profiles

• Advanced Biotech
• Aurochemicals
• Compound Solutions Inc.
• Eastman Chemical Company
• Hunan NutraMax Inc.
• Orchid Chemical Supplies Ltd
• Royal Dutch Shell plc.
• SABIC
• Taj Pharmaceuticals Chemicals

North America Ketones Market Strategic Insights

North America Ketones Market Segmentation Analysis

North America Ketones Market Report Highlights

North America Ketones Report Scope

North America Ketones Market Country and Regional Insights