L-Ergothioneine (EGT) Market, By Application (Pharmaceuticals, Cosmetics, Dietary Supplements, Functional Food and Beverages, and Animal Nutrition), By End Use Industry (Pharmaceuticals, Personal care and cosmetics, Food and beverages, Animal feed and nutrition, and Others), By Source (Mushrooms, Algae, and Bacteria), By Distribution Channel (Direct Sales, Distributors, Online Retail, and Specialty Stores), By Product Form (Powder, Capsule, Tablet, Liquid, and Cream), By Region (North America, Europe, Asia Pacific, Latin America, Middle East)

Published In : Nov 2023

Code : CMI5993

Pages :150

Formats :

Excel and PDF

Industry : Bulk Chemicals

L-Ergothioneine (EGT) MarketSize and Trends

Global L-ergothioneine (EGT) market is projected to grow from US$ 40.8 Mn in 2023 to US$ 389.3 Mn by 2030, at a compound annual growth rate (CAGR) of 38%. The market growth is being driven by the increasing demand for EGT in the pharmaceutical, cosmetics, and food industries. EGT is a naturally occurring amino acid that has antioxidant, anti-inflammatory, and neuroprotective properties. It is also known to improve skin health and protect against UV radiation damage.

Global L-Ergothioneine (EGT) Market Trends

Increasing demand for clean label and natural ingredients: Consumers are increasingly seeking products with clean labels, which mean that they want ingredients that are natural, recognizable, and minimally processed. L-ergothioneine, being a naturally occurring compound which is derived from mushrooms and microorganisms, aligns with this clean label trend. As a result, manufacturers are incorporating L-ergothioneine into their products to meet consumer demand for natural and clean label ingredients.
Growth in personalized nutrition: Personalized nutrition, which involves tailoring nutritional products and supplements to individual needs, is gaining traction. L-ergothioneine's antioxidant and health-promoting properties make it a suitable ingredient for personalized nutrition solutions. Companies are exploring the inclusion of L-ergothioneine in personalized supplements and functional foods to cater to consumers' specific health goals and requirements.
Expansion in skincare and beauty industry: The skincare and beauty industry is witnessing a surge in demand for natural and effective ingredients. L-ergothioneine's skin-protecting, anti-aging, and antioxidant properties position it as a desirable ingredient for skincare and beauty products. As a result, the market is witnessing an increasing number of L-ergothioneine-infused formulations such as serums, creams, masks, and anti-aging products.
Growing emphasis on preventive healthcare: There is a notable shift towards preventive healthcare and wellness among consumers. L-ergothioneine's potential health benefits, including its role as an antioxidant and cellular protector, align with this trend. Consumers are seeking products that support overall well-being and help prevent age-related diseases. The demand for L-ergothioneine as a dietary supplement and functional food ingredient is rising as a result.