U.S. Ketones Industry Overview
The U.S. ketones market size was valued at USD 1.83 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2021 to 2028.
This is attributed to the rising geriatric population in the country and the increasing per capita income of consumers. In addition, the benefits of ketone supplements in the treatment of type-2 diabetes are likely to have a positive impact on market growth. The wide application scope of the product in several other applications like cosmetics personal care products and its eco-friendly nature are expected to fuel the market growth in the coming years. However, higher costs and availability of substitutes are likely to hamper market growth.
Gather more insights about the market drivers, restrains and growth of the U.S. Ketones Market
The COVID-19 pandemic has impacted the global beauty industry severely. Thus, cosmetics companies responded by manufacturing hand sanitizers, cleaning agents, soaps, and other personal care products. Due to the anti-bacterial properties of acetone (a type of ketones), it can be potentially used in the formulation of surface sanitizers. Thus, the demand for the product is likely to increase over the predicted years.
According to the U.S. Department of Health Human Services data, about 23% of residents in the U.S. or more than 54 million people have arthritis, of which about 60% are from the working class. This is likely to fuel the product demand in the pharmaceutical application segment. In addition, the product is also used by dermatologists in the country to treat skin acne.
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U.S. Ketones Market Segmentation
Grand View Research has segmented the U.S. ketones market on the basis of application:
U.S. Ketones Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Cosmetics Personal Care
- Food Beverages
- Chemical Manufacturing
- Others (Paint, Rubber, Printing, and Pesticides)
Key Companies profiled:
Some of the prominent players in the U.S. ketones market include:
- BASF SE
- Perfect Keto
- Sapien Products LLC
- Boli LLC
- Limitless Venture Group, Inc.
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