Glutathione Market Is Estimated To Witness High Growth Owing To Opportunity In Cosmetic Industry12/28/2023 Glutathione is a tripeptide antioxidant produced naturally in the body that plays a crucial role in slowing the aging process and neutralizing free radicals. It is widely used as an essential ingredient in various personal care and cosmetic products including creams, lotions, and serums due to its anti-aging and skin lightening properties. The growing personal care industry and increasing demand for glutathione enriched cosmetic products to treat pigmentation, acne marks, and signs of aging are some key factors augmenting the market growth. The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The rising demand for glutathione enriched cosmetic products for anti-aging properties and skin whitening is one of the major market opportunities for glutathione. Cosmetics containing glutathione provides numerous benefits including reduction of blemishes, wrinkles and other signs of premature skin aging. With increasing health and beauty consciousness among aging population globally, the demand for cosmetics and personal care products with antioxidant glutathione is growing substantially. The growing cosmetic industry is therefore expected to propel the demand for glutathione over the forecast period, especially in countries like China, India, Brazil and South Korea where skin lightening cosmetics are widely used. The players operating in glutathione market can capitalize on this opportunity by offering innovative cosmetic formulations enriched with reduced form of glutathione to cater to the increasing demand. Porter’s Analysis Threat of new entrants: The market is moderately difficult to enter as it requires high capital investment in R&D, facility set up and battery manufacturing equipment. However, presence of several global players poses moderate threat. Bargaining power of buyers: The bargaining power of buyers is moderate as they have several established players to choose from and the product type offered does not vary much across brands. Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw materials required for lithium ion battery manufacturing such as lithium, cobalt etc. have limited global supply. Threat of new substitutes: Threat from substitutes is low as lithium ion batteries have widespread adoption in applications with no feasible substitutes available in near future. Competitive rivalry: Intense competition exists among key global players. SWOT Analysis Strength: Established supply chain and production facilities, technological expertise, brand recognition. Weakness: High R&D and capex requirements, volatility in raw material prices, dependency on limited suppliers. Opportunity: Growing demand for EVs and energy storage applications, developing markets offering growth potential. Threats: Trade restrictions, stringent environmental regulations, increasing raw material costs. Key Takeaways The global Glutathione Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The growing demand for glutathione as a nutritional supplement and antioxidant and its growing usage in cosmetic industry is supporting the growth of the market. The global Glutathione Market is estimated to be valued at US$ 274.28 Mn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030. Regional analysis: Asia Pacific region currently dominates the global market owing to large consumer base, growing health concerns and increasing disposable income levels in developing economies like India and China. The region is estimated to grow at the fastest rate over the forecast period. Key players: Key players operating in the glutathione market are BYD Company Limited, Panasonic Corporation, Contemporary Amperex Technology Co. Limited, Samsung SDI Co. Ltd, TianJin Lishen Battery Joint-Stock CO. LTD, GS Yuasa Corporation. BYD Company Limited is the leading player with largest market share in global glutathione market. Get More Insights On This Topic: https://www.newsanalyticspro.com/glutathione-market-is-estimated-to-witness-high-growth-analysis/
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