North 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)
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.
Reasons to buy report
- To understand the North America ketones market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America ketones market
- Efficiently plan M&A and partnership deals in North America ketones market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America ketones market
- 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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Ketones Market, by Form
1.3.2 North America Ketones Market, by Application
1.3.3 North America Ketones Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Limitations & Assumptions:
4. North America Ketones Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of Substitutes
4.2.4 Threat of New Entrants
4.2.5 Intensity of Competitive Rivalry
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. North America Ketones Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Soaring Demand from Various Industries
5.1.2 Rising Popularity of Ketogenic Supplements
5.2 Market Restraint
5.2.1 Lack of Awareness and Low Adoption of Ketogenic Supplements
5.3 Market Opportunities
5.3.1 New Product Launches
5.4 Future Trends
5.4.1 Increase in Adoption of Bio Ketones over Conventional Ketones
5.5 Impact Analysis of Drivers and Restraint
6. Ketones Market – North America Analysis
6.1 North America Ketones Market Overview
6.2 Ketones Market –Revenue and Forecast to 2028 (US$ Mn)
7. North America Ketones Market Analysis – By Form
7.1 Overview
7.2 Ketones Market, By Form (2020 and 2028)
7.3 Solid
7.3.1 Overview
7.3.2 Solid: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
7.4 Liquid
7.4.1 Overview
7.4.2 Liquid: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
8. North America Ketones Market Analysis – By Application
8.1 Overview
8.2 Ketones Market, By Application (2020 and 2028)
8.3 Food and Beverage
8.3.1 Overview
8.3.2 Food and Beverage: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Dietary Supplements
8.4.1 Overview
8.4.2 Dietary Supplements: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Personal Care and Cosmetics
8.5.1 Overview
8.5.2 Personal Care and Cosmetics: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
9. North America Ketones Market – Country Analysis
9.1 Overview
9.1.1 North America: Ketones Market, by Key Country
9.1.1.1 US: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.1.1 US: Ketones Market, by Form
9.1.1.1.2 US: Ketones Market, by Application
9.1.1.2 Canada: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.2.1 Canada: Ketones Market, by Form
9.1.1.2.2 Canada: Ketones Market, by Application
9.1.1.3 Mexico: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
9.1.1.3.1 Mexico: Ketones Market, by Form
9.1.1.3.2 Mexico: Ketones Market, by Application
10. Impact of COVID-19 Pandemic on North America Ketones Market
10.1 Overview
11. Company Profiles
11.1 Compound Solutions, Inc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Aurochemicals
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Taj Pharmaceuticals Chemicals
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Orchid Chemical Supplies Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Hunan NutraMax Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Advanced Biotech
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Eastman Chemical Company
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Royal Dutch Shell plc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 SABIC
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. North America Ketones Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. US Ketones Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 3. US Ketones Market, by Application – Revenue and Forecast to 2028 (US$ Mn)
Table 4. Canada Ketones Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 5. Canada Ketones Market, by Application – Revenue and Forecast to 2028 (US$ Mn)
Table 6. Mexico Ketones Market, by Form – Revenue and Forecast to 2028 (US$ Mn)
Table 7. Mexico Ketones Market, by Application – Revenue and Forecast to 2028 (US$ Mn)
Table 8. Glossary of Terms, North America Ketones Market
LIST OF FIGURES
Figure 1. North America Ketones Market Segmentation
Figure 2. North America Ketones Market Segmentation – By Country
Figure 3. North America Ketones Market Overview
Figure 4. Liquid Segment Held the Largest Share of the North America Ketones Market
Figure 5. US Held Largest Share of North America Ketones Market
Figure 6. Porter ‘s Five Forces Analysis for Ketones Market
Figure 7. Expert Opinion
Figure 8. Ketones Market – Ecosystem Analysis
Figure 9. North America Ketones Market Impact Analysis of Drivers and Restraints
Figure 10. North America : Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 11. North America Ketones Market Revenue Share, By Form (2020 and 2028)
Figure 12. North America Solid: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. North America Liquid: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. North America Ketones Market Revenue Share, By Application (2020 and 2028)
Figure 15. North America Food and Beverage: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. North America Dietary Supplements: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. North America Personal Care and Cosmetics: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. North America Others: Ketones Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. North America: Ketones Market, by Key Country- Revenue 2020 (US$ Million)
Figure 20. North America: Ketones Market Revenue Share, by Key Country (2020 and 2028)
Figure 21. US: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 22. Canada: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Mexico: Ketones Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 24. Impact of COVID-19 Pandemic in North American Country Markets
- Advanced Biotech
- Aurochemicals
- Compound Solutions Inc.
- Eastman Chemical Company
- Hunan NutraMax Inc.
- Orchid Chemical Supplies Ltd
- Royal Dutch Shell plc.
- SABIC
- Taj Pharmaceuticals Chemicals
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