by The Global L-Ergothioneine (EGT) Market is estimated to be valued at US$ 40.8 Mn or Million in 2023 and is expected to exhibit a CAGR of 38.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
L-Ergothioneine (EGT) is a naturally occurring, biologically active form of the amino acid cysteine. It is an unusual and unique amino acid that acts as a potent antioxidant and cytoprotective agent. L-Ergothioneine neutralizes free radicals and reactive oxygen species (ROS) formed during cellular metabolism or from external environmental factors. It has various applications in nutraceuticals, cosmetics, and pharmaceuticals. The growing awareness regarding immunity health and rising preference for supplements to boost immunity have increased the demand for L-Ergothioneine supplements in recent years.
Market key trends:
One of the key trends in the L-Ergothioneine (EGT) market is the growing number of clinical studies highlighting its potential benefits. Several studies have shown that L-Ergothioneine protects against oxidative stress, plays a role in cell proliferation and differentiation, and helps maintain redox homeostasis. Another major trend is the increasing adoption of L-Ergothioneine supplements as an ingredient in nutraceutical formulations focused on athletic endurance, brain health, and eye health. Many supplement brands are launching L-Ergothioneine based products for endurance athletes, memory support, and eye care. The easy availability of these supplements online is further propelling the consumption of L-Ergothioneine products.
Porter’s Analysis
Threat of new entrants: Low capital requirements for manufacturing EGT in laboratories restricts new players from entering the market. However, established presence of existing key players makes market entry difficult for new players.
Bargaining power of buyers: Buyers have moderate bargaining power. EGT is currently available with limited manufacturers and suppliers globally, thereby limiting buyer options.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the niche production process of EGT from select mushrooms and yeast. Suppliers also enjoy bargaining power due to long-term relations with existing manufacturers.
Threat of new substitutes: Substitutes are less likely as EGT offers distinct antioxidant properties for nutraceuticals and supplement applications. No direct substitute of EGT is available yet.
Competitive rivalry: Intense as major players compete based on product quality, production capabilities and intellectual property. Price competition is moderate due to EGT’s niche applications in dietary supplements and cosmetics.
Key Takeaways
The Global L-Ergothioneine (EGT) Market Size is expected to witness high growth, exhibiting CAGR of 38.% over the forecast period, 2023 to 2030, due to increasing demand for neutraceuticals and anti-aging cosmetic products.
Regional analysis: North America is currently the largest market for EGT owing to robust dietary supplement industry and research on EGT’s health benefits. Asia Pacific is expected to be the fastest growing market with countries like China, Japan, and South Korea generating high demand.
Key players operating in the L-Ergothioneine (EGT) market are AnaSpec, Inc., Cayman Chemical Company, Kaneka Corporation, Sigma-Aldrich (part of Merck KGaA), Gold Biotechnology, Inc., Xi’an Lyphar Biotech Co.,, Ltd.,ChemFaces, Henan Senyuan Biological Technology Co., Ltd., Chengdu Biopurify Phytochemicals Ltd., Shenzhen Lvshiyuan Biotechnology Co., Ltd. Key players are focusing on expanding production capacities and establishing long term cooperation with major supplement formulators and cosmetic brands.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
