GLUTATHIONE MARKET ANALYSIS

Global glutathione market is projected to reach around US$ 495 Mn by 2030, in terms of revenue, exhibiting a CAGR of 8.8% during the forecast period (2023-2030).

Global Glutathione Market: Growth Drivers

Rising Demand for Nutricosmetics

Rising demand for nutricosmetics is expected to drive for the global glutathione market growth over the forecast period. Nutricosmetics are oral-based nutritional supplements for beauty and skin health. Nutricosmetics market is primarily driven by the expansion and consumer awareness in personal grooming coupled with busy lifestyle of the growing urban population. Nutricosmetics are health products that are mainly used for the treatment of hair, nail, skin defects, and sun protection. Some of the key drivers include rising retail shops across the globe, rising popularity of ready- to- drink nutricosmetics beverages, preference for effective and safe beauty solutions boosts the sales of cosmetics supplements, and growing consumer awareness toward prevention of pre-mature skin aging along with others.

Increasing Demand from Pharmaceutical Industry

The growth in the pharmaceutical sector provides opportunities for the development of innovative glutathione-based formulations, treatments and therapies. The increasing focus on therapeutic applications, anti-aging and skincare products, IV and injectable applications, as well as ongoing research and development efforts, are expected to contribute to the rising demand for glutathione in the pharmaceutical industry. For instance, according to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is expected to be valued at US$ 42,000 Million in 2021 and is expected to reach US$ 64,000 Million by 2024 and further estimated to reach US$ 120-130 billion by 2030.

Global Glutathione Market: Restraints

Impact of Glutathione Consumption on Health

Continuous consumption of synthetic glutathione such as supplements can alert the human body to stop its own production of glutathione resulting in dependence on synthetic supplements. Depletion of liver glutathione levels (the site of glutathione storage) can be devastating to health. This factor is expected to hamper the market growth over the forecast period.

 Global Glutathione Market: Opportunity

Rising need for research and development for pharmaceutical industry

Rising demand for pharmaceutical drugs, vaccines, and premium proteins due to growing population is expected to drive the market growth. It is expected that applications like research labs studying protein-protein interaction, immunological studies vaccine production, and other biochemical analysis will account for the majority of demand.

Global Glutathione Market: Trends

Shift Towards E-commerce Platforms

Increasing trend of online shopping due to growing digital engagement of consumers as well as manufacturers that enable easy access to products through e-commerce channels is expected to boost sale of cosmetic products. For instance, in 2022, Amazon, largest online retailer in the world and its beauty category is one of its fastest growing segments. In 2022, Amazon generated an estimated UD$ 15 Billion in revenue from online cosmetics sales.

Global Glutathione Market: Key Developments

In April 2023, Kyowa Kirin Co. Ltd., Japan-based Global Specialty Pharmaceutical Company, announced a joint research and organizational collaboration with School of Life Science and Technology and Tokyo Institute of Technology for drug discovery technology. The main aim is to discover innovative drugs originating from Japan by combining the outstanding technology.

In February 2022, Mitsubishi Corporation Life Sciences Limited , manufactures and distributes value-added products in various industries, announced that the United States Patent and Trademark Office had granted a patent to the company for a method for improving nonalcoholic fatty liver disease in patients in need for treatment, compromising the administration of a composition containing glutathione as its active ingredient.

In January 2022, Natrol and Jarrow Formulas, two well-known manufacturers of vitamins and dietary supplements, officially merged to form Vytalogy Wellness (Vytalogy). Natrol and Jarrow Formulas, the brands of the products that consumers have grown to know and love, will still be used. Vytalogy, which stands for the science of vitality and is their new company name, more accurately captures their commitment to enhancing customers' lives with energy and wellness.

In September 2021, Mitsubishi Corporation Life Sciences Limited announced the expansion of its production capacity at the Saiki Factory of its subsidiary KOHJIN Life Sciences Co., Ltd.

Global Glutathione Market: Regional Analysis

The demand for glutathione is projected to be highest in the Asia Pacific region, with the Indian, South Korean, Chinese, and Japanese markets leading the way. This is due to the increasing health concerns and diseases associated with consumer consumption.

The North American market for glutathione is projected to experience a rapid expansion due to its increasing utilization in food, beverage, cosmetic, and pharmaceutical products.

Figure 1. Global Glutathione Market Share (%), By Region, 2022

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Regionally, Asia Pacific dominated the global glutathione market in terms of revenue, in 2022, followed by North America and Europe, respectively.

Global Glutathione Market: Segmentation

The Indonesia dietary supplement market is segmented on the basis of product type and application. Further it is divided on the basis of product type: reduced glutathione and oxidized glutathione and on the basis of application: Food and beverages, dietary supplements, pharmaceuticals, nutritional supplements, personal care and cosmetics and others.

Figure 2. Global Glutathione Market Share (%), By Application, 2022

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On the basis of application, in 2022, the pharmaceuticals accounted for the largest market share of 42% in terms of value, followed by the food & beverages.

Global Glutathione Market: Impact of Coronavirus (COVID-19) Pandemic

COVID-19 pandemic has changed the buying pattern of consumers. Measures such as nationwide lockdown led to panic buying of food and hygiene products. Following the COVID-19 crisis, increasing number of patients are opting for self-medication rather than visiting a doctor. This has led to several people stocking up over-the-counter drugs for symptom relief. Additionally, there is more demand for products that aid in boosting immunity due to consumer awareness of and interest in the importance of preventive health. This has led to increasing demand for health supplements. The overall increase in demand for pharmaceuticals is expected to drive the market growth of glutathione during the pandemic.

Global Glutathione Market: Key Companies

Key Companies operating in global glutathione market are Kyowa Hakko Bio Co., Ltd., Shandong Jincheng Biological Pharmaceutical Co., Ltd., KOHJIN Life Sciences Co., Ltd., Shenzhen GSH Bio-Technology Co, Ltd, Kaiping Genuine Biochemical Pharmaceutical Co., Ltd., Nissor Pharmaceuticals Ltd., and Jarrow Formulas, Inc.

*Definition: Glutathione is an antioxidant that is created by combining the amino acids glycine, cysteine, and glutamic acid. Glutathione in the body aids in the fight against free radicals, and reduces oxidative stress. It is an essential nutrient for accelerating metabolism and providing antioxidant defense for the body. Glutathione is a chemical that is present in all living things including people, animals, plants, fungi, and other microorganisms. Several chemical reactions that take place inside the body depend on glutathione.