North American L-Carnitine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Process; Product; Application

North American L-Carnitine Market to 2027 - COVID-19 Impact and Analysis by Process (Chemical Synthesis, Bio-process); Product (Food, Pharmaceutical Grade, Feed Grade); Application (Animal Feed, Healthcare Products, Functional Drinks, Medicines); and Country.

The L-Carnitine market was valued at US$ 72.3 million in 2018 and is projected to reach US$ 109.8 million by 2027; it is expected to grow at a CAGR of 4.7% from 2019 to 2027.

L-Carnitine is a naturally occurring compound in the human and animal body, which plays an important role of shuttling fatty acids to and fro in the cells to produce energy. It is produced in the liver and kidneys. However, certain individuals are unable to produce or synthesize required amount of L-Carnitine due to genetic defects. Individuals unable to synthesize L-Carnitine suffer from primary and secondary carnitine deficiency. The US Food and Drug Administration (FDA) has approved the use of oral and intravenous (IV) L-Carnitine for treating primary and secondary carnitine deficiency. At present, L-Carnitine is commercially advertised as nutritional supplements to enhance body fitness and promote weight loss. It is also approved to treat carnitine deficiencies in patients at the end stage of renal diseases undergoing hemodialysis. Besides its uses in human nutrition, L-Carnitine is also used as an additive in the formulation of animal feed formulations. It is used in the poultry industry to increase egg production and improve egg hatchability.

Based on process, the L Carnitine market has been segmented into chemical synthesis and bioprocess. The chemical synthesis segment accounted for the largest share of the North American L-Carnitine market in 2018; however, the bioprocess segment is expected to grow at the highest CAGR during the forecast period. Chemical synthesis involves a two-step process. First being, the formation of hydroxyl-activated (S)-3-hydroxybutyrolactone (a methane sulfonate), followed by conversion of hydroxyl activated (S)-3-hydroxybutyrolactone to L-Carnitine by reaction with trimethylamine in water. The chemical synthesis process of manufacturing L-Carnitine is widely carried out by the manufacturers. The most commonly used chemical synthesis process for manufacturing L-Carnitine is chemical multistep racemization that generates a racemic mixture with D-Carnitine as its byproduct. Chemical multistep racemization starts with the inclusion of epichlorohydrin and trimethylamine as raw material, followed by fractioned crystallization that separates the racemic mixture. Chemo microbiological synthesis is another chemical synthesis process used for the manufacture of L-Carnitine. Under this process, optically pure (R)-4-chloro-3-hydroxybutyrate is prepared from ethyl acetoacetate by reduction with baker's yeast, which is then finally converted into L-Carnitine using standard methods. L-Carnitine is also produced by employing a coupled enzyme system of glucose dehydrogenase and alcohol dehydrogenase to another enzyme synthesis of (R)-4-chloro-3-hydroxybutyrate.

The North American L-Carnitine market has been segmented into the US, Canada and Mexico. The US held the largest share of the North American L-Carnitine market, followed by Canada and Mexico. The growing focus toward health-promoting food products is one of the key factors that is boosting the L-Carnitine market in the region. The presence of several manufacturers such as Maxsun Industries Incorporated, Lonza Group Ltd, Northeast Pharmaceutical Group Co., Ltd, Cayman Chemical, and MERCK KGaA have bolstered the growth of the North American L-Carnitine market. Additionally, the consumer demand for healthy and tasty products without any compromise on taste is expected to propel the L-Carnitine market in the region. Further, the growth of food processing, healthcxare and other industries is further propelling the demand for L-Carnitine in the North America region.

Maxsun Industries Incorporated, Lonza Group Ltd, Northeast Pharmaceutical Group Co., Ltd, Cayman Chemical, MERCK KGaA, are among the major players in the North American L-Carnitine market.

Overall size of the North American L-Carnitine market has been derived in accordance to the primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North American L-Carnitine market.

COVID-19 outbreak first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and the US are some of the worst affected countries in terms confirmed positive cases and reported deaths. According to the latest WHO figures, there are ~3,32,930 confirmed cases and 14,510 deaths globally. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food and beverage industry is one of the major sectors facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns due to this outbreak. The lockdown of various plants and factories in the US is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various electronic goods. All these factors are anticipated to affect the pharmaceutical, food & beverage, and other industries and thus restrict the growth of various markets related to this industry in the coming months. The U.S has the highest number of confirmed cases of COVID-19 compared to Canada and Mexico. This is likely to negatively impact the chemical and materials industry in the region, which in turn will affect the supply chain in the market.

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