Ketones Market Size was valued at USD 23.5 billion in 2022. The ketones market is projected to grow from USD 24.4 billion in 2023 to USD 32.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). The aerospace and automotive sectors' rising demand for ketone products is one of the key market driver of the Ketones Market. This demand, along with the rising global demand for high temperature insulators, are also contributing to the industry's expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The growing demand for natural, skin-friendly, and chemical-free ingredients and products has led to the widespread usage of ketones in personal care and cosmetic goods. Increasing one's physical attractiveness, honing grooming techniques, and preserving excellent health are priorities for people all around the world. This can be ascribed to things like greater disposable money, bettering living conditions, and increased knowledge of health issues. In addition, a number of cosmetic manufacturing companies are concentrating on creating improved cosmetic products to meet the growing consumer demand for premium, chemical-free personal care products. Aside from that, acetone and other ketones are frequently found in nail polish removers, whereas acetophenones are used to make perfumes with scents like jasmine, cherry, almond, strawberry, and honeysuckle.
Furthermore, the older population is growing, and higher per capita incomes have encouraged people to make investments in the health industry. In the medical industry, consumers are becoming more and more conscious about their health. During the anticipated period, it is thought that these factors will fuel market growth for ketone. Since it has eco-friendly ketone properties, it can adhere to the strict regulations and emission standards of developed regions. During the forecast period, it is predicted that this trend will sharply increase market growth. Some of the key causes of expanded applications and increased demand for ketone supplements are increased prepared food consumption, increased consumer health awareness, and the multi-functionality of ketones. The global market CAGR for ketones is projected to expand as a result of these causes.
Additionally, the use of ketogenic diets in the treatment of numerous neurological illnesses, including epilepsy, is growing in popularity because to ketone supplements found in food products. The keto diet was also widely used to help people lose weight. As a result, ketones are gaining a lot of consumer interest, creating significant prospects for manufacturers to offer keto products that result in low carb and high fat as well as keto formula. Thus, driving the ketones market revenue.
The Ketones Market segmentation, based on type includes Ketone Salts, Ketone Esters, Ketone Oil and Raspberry Ketone. The ketone oil segment dominated the market. This is explained by its anti-inflammatory, anti-microbial, and antioxidant properties. Ketone oil is utilised in the production of cosmetics and personal care items because it acts as an emollient in lotions, sunscreens, and other products as well as a carrier for viscosity regulators and active chemicals.
The Ketones Market segmentation, based on application, includes Cosmetics & Personal Care, Food & Beverages, Dietary Supplements and Others. The dietary supplements category generated the most income. This is due to consumers becoming more aware of their own personal health. Due to changing lifestyles and work schedules, the working population globally is concentrating on consuming the essential daily nutrients. Due to the high accessibility, there is an increasing requirement for dietary supplement products to provide the essential nutrients, which is expected to drive the market over the forecast period.
Figure 1: Ketones Market, by Application, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American ketones market area will dominate this market because buyers are becoming more health concerned. Additionally, consumers in the area are embracing diet plans more frequently as a means of losing weight and leading a healthier lifestyle. A specialized diet like the keto diet is becoming more popular as a result of changing consumer preferences. In Canada, 26% of people follow the ketogenic diet, according to a Dalhousie University research. Food items based on ketone molecules are becoming more popular as a result of rising demand for low-carbohydrate diets.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: KETONES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe ketones market accounts for the second-largest market share given the extensive creation of personalized personal care products and rising consumer knowledge of their health advantages. The region is now one of the leading markets for cosmetics and personal care products. Due to rising demand as well as a shift towards sustainable raw materials, businesses in the area are thereby replacing synthetic chemicals with natural substances. Further, the German ketones market held the largest market share, and the UK ketones market was the fastest growing market in the European region
The Asia-Pacific Ketones Market is expected to grow at the fastest CAGR from 2023 to 2032. This is explained by the rise in demand for natural goods like ketones, given the expansion of the dietary supplement market. The increased incidence of obesity and diseases linked to excess weight can be attributed for this expansion. Due to consumers' hectic schedules and high levels of stress, which have raised the rates of lifestyle problems like obesity, high blood pressure, and diabetes, dietary supplement sales have surged significantly in the Asia Pacific region. Moreover, China’s ketones market held the largest market share, and the Indian ketones market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the ketones market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, ketones industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global ketones industry to benefit clients and increase the market sector. In recent years, the ketones industry has offered some of the most significant advantages to medicine. Major players in the ketones market attempting to increase market demand by investing in research and development operations include HVMN Inc.; Ketone Aid Inc.; Ketologic; Genomatica, Inc.; Keto & Company; Ancient Nutrition; Pruvit; Caldic B.V.; Ketone Aid Inc.; Compound Solution Inc.; BPI Sports; Zhou Nutrition; and Boli Naturals
A ketone ester drink, items to complement a ketogenic diet, and nootropic pills are all produced and sold by HVMN, formerly known as Nootrobox. San Francisco serves as the company's headquarters. The business sells nootropic supplements, matcha kits, ketogenic diet products, and MCT oil powder. Customers of HVMN are located in the US. In terms of low-carb diets, ketones, and metabolic health, it sets the bar high in terms of science, products, and community development. In 2017, Elite cyclist Vitoria Bussi utilises a ketone drink that HVMN and the University of Oxford jointly developed to set cycling records all over the globe.
Genomatica is a biotechnology business with headquarters in San Diego that creates and licences biological manufacturing techniques for the creation of intermediate and fundamental chemicals. The 1,4-butanediol (BDO) chemical's processing method from Genomatica is now available for purchase. In just five weeks, Genomatica turned out 5 million pounds of renewable BDO at a DuPont Tate & Lyle facility in Tennessee. Both BASF and Novamont have granted licences for its GENO BDO method. The company Genomatica, Inc. is engaged in bioengineering. The business provides methods for making intermediate and fundamental compounds. Global customers are served by Genomatica.
Ketones Industry Developments
In June 2022: Abbott announced the creation of an original wearable glucose-ketone monitoring device. In order to continuously control diabetic ketoacidosis, it is primarily intended for diabetic patients to enable them to monitor ketone levels.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 23.5 billion |
| Market Size 2023 | USD 24.4 billion |
| Market Size 2032 | USD 32.9 billion |
| Compound Annual Growth Rate (CAGR) | 16.26% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | HVMN Inc.; Ketone Aid Inc.; Pruvit; Caldic B.V.; Ketologic; Genomatica, Inc.; Keto & Company; Ancient Nutrition; Ketone Aid Inc.; Compound Solution Inc.; BPI Sports; Zhou Nutrition; Boli Naturals |
| Key Market Opportunities | Use of ketogenic diets in the treatment of numerous neurological illnesses |
| Key Market Dynamics | Growing demand for natural, skin-friendly, and chemical-free ingredients and products has led to the widespread usage of ketones in personal care and cosmetic goods |
Ketones Market Highlights:
Frequently Asked Questions (FAQ) :
The Ketones Market size was valued at USD 23.5 Billion in 2022.
The global market is projected to grow at a CAGR of 16.26% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are HVMN Inc.; Ketone Aid Inc.; Pruvit; Caldic B.V.; Ketologic; Genomatica, Inc.; Keto & Company; Ancient Nutrition; Ketone Aid Inc.; Compound Solution Inc.; BPI Sports; Zhou Nutrition; and Boli Naturals.
The ketone oil category dominated the market in 2022.
The dietary supplements category had the largest share in the global market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
