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Europe CoenzymeQ10 Markets
Frost & Sullivan, March 2008, Pages: 34
This research service tracks the key trends in the European coenzymeQ10 market while quantifying both revenues and volumes. Key companies, technologies and trends are discussed. This research service also provides forecasts for this market from 2004 to 2014 as well as an analysis of the competitive framework.
This Frost & Sullivan research titled European CoenzymeQ10 Markets provides revenue and unit shipment forecasts, company profiles, and strategic analysis. In this research, Frost & Sullivan's expert analysts thoroughly examine the following applications: dietary supplement and food and beverage.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Application:
- Food and beverage
- Dietary supplements
Market Overview
Impressive Health Claims to Help the CoenzymeQ10 Market Achieve Increased Uptake in Europe
Having milked the well-established cardiac benefits of CoenzymeQ10 (CoQ10), marketers and manufacturers of CoQ10 are increasingly focusing on new and exciting health profiles and applications. They will be looking to capitalize on the newly discovered role that CoQ10 plays in the production of cellular energy and its potential benefits of healthy vision as well as migraine and infertility cures. Presently, the key purchase criteria for dietary supplements include health claims of its ingredients, the aim of the product, and its price. Of these, health claim is the most influential and challenging factor for manufacturers, especially in the European market where the health claim regulations are considered much more stringent and demanding than in other regions. Competitors will be hard pressed to establish scientific credibility and overcome regulatory hurdles to develop a successful health claim.
'Many manufacturers operating in Europe find it daunting to perform many levels of testing and scientific research on certain ingredients before they are approved in Europe,' says the analyst of this research service. 'The process is not only expensive, but can also be extremely lengthy.' Manufacturers should have a thorough understanding of the regulatory procedures while developing novel applications or marketing new benefits of CoQ10 in Europe. While existing manufacturers may have the experience to cope with the regulatory requirements, entrants need to tread carefully with regard to health claims.
Wider Range of Formulations Boost the Market
Manufacturers are encouraged to develop new products, since the majority of CoQ10 supplied has been in the pure form of a fat-soluble compound and end users have complained about its unsuitability in beverages. Manufacturers and marketers are rapidly offering value-added versions of CoQ10, which are typically enclosed in a matrix or the beadlet form. These formulations offer greater stability and ease of formulation into beverages. 'Formulators have also developed versions that contain nano-grade materials, which could increase the surface area and therefore, the bio-availability of the product,' notes the analyst. 'These developments mean that CoQ10 could be increasingly used in functional beverage applications, which is one of the fastest growing sectors within the functional food industry.'
Apart from enhanced formulations, the market has got a shot in the arm with the stabilization of the supply situation. This scenario has placed prices at pre-surge levels and revenues are expected to increase steadily. The market is also helped along by the rising costs of healthcare, which are prompting people to increasingly adopt preventive healthcare. This trend, along with the uncovering of new health benefits, has created a huge market for supplements and functional foods with CoQ10 that can help them stay healthy.
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