Blockchain Technology Is Fastest Growing Segment Fueling The Growth Of Glutathione 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 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Glutathione is an antioxidant that plays a key role in the body's cellular protective mechanisms. It helps neutralize free radicals and recycles other antioxidants like vitamins C and E. Glutathione has benefits for boosting the immune system, reducing inflammation, and may help protect against neurological diseases and cancer.

Market key trends:
One of the major trends gaining traction in the glutathione market is adoption of blockchain technology for supply chain traceability. Blockchain allows suppliers to trace the origins and ownership of raw materials and finished products throughout the production and supply chain, with an aim to address issues related to quality, adulteration and counterfeiting. This technology helps build consumer confidence by providing transparency and verification of data related to sources, production sites, certifications, and supplier credentials. The blockchain enables authentication from the point of origin and allows buyers and consumers to verify credentials and batch details of any glutathione product.

Segment Analysis
The global glutathione market is segmented based on form as reduced glutathione, oxidized glutathione. Reduced glutathione dominates the market with around 70% share as it is the most common and active form of glutathione used in health supplements, cosmetics, and pharmaceuticals. It works as an antioxidant and is more stable and suitable for oral administration compared to oxidized form.

Key Takeaways
The Global Glutathione Market Size was valued at US$ 274.28 Mn in 2023 and is expected to witness high growth, exhibiting a CAGR of 8.8% over the forecast period, due to increasing applications in health supplements, cosmetics, food & beverages, and pharmaceuticals industries.

Regional analysis - Asia Pacific dominates the market and holds around 35% share owing to large consumer base, high health awareness, and increasing per capita healthcare expenditure in countries like China, Japan, and India. Rapid economic growth is also propelling the market growth in the region.

Key players - Key players operating in the glutathione market are Kyowa Hakko Bio Co., Ltd., Shandong Jincheng Biological Pharmaceutical Co., Ltd., KOHJIN Life Sciences Co., Ltd., Shenzhen GSH Bio-Technology Co, Ltd, Kaiping Genuine Biochemical Pharmaceutical Co., Ltd., Nissor Pharmaceuticals Ltd., and Jarrow Formulas, Inc. Kyowa Hakko dominates with over 20% market share due to its wide product portfolio and global distribution network.

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