The Global L-Ergothioneine (EGT) Market is estimated to be valued at US$ 40.8 Mn 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 an amino acid antioxidant found in mushrooms and acts as a biological indicator of oxidative stress. EGT has anti-inflammatory and cell-protecting properties which help in boosting immunity and slowing the aging process.
Market key trends:
The growing demand for supplements offering anti-aging benefits is a major factor fueling the L-Ergothioneine (EGT) market growth. EGT protects skin damage, enhances immunity, reduces chronic inflammation, and delays cellular aging by eliminating free radicals from the body. Rising health concerns among people and growing geriatric population has increased the adoption of dietary supplements with anti-aging properties. Additionally, increasing R&D activities by major players to utilize EGT in various applications like cosmetics, food and beverages is expected to provide new avenues for market growth over the forecast period.
Market key trends:
The L-Ergothioneine (EGT) market is witnessing high growth trend due to growing application of EGT in cosmetic products and healthcare supplements. EGT is a unique antioxidant that is naturally produced by some fungi and mycobacterium. It plays an important role in protecting cellular DNA, RNA, and proteins from oxidative stress. The increasing R&D activities to utilize potential health benefits of EGT in various health conditions like cardiovascular diseases, cancer, chronic inflammation etc. is driving its demand. Furthermore, rising popularity of natural cosmetic ingredients is boosting adoption of EGT in skincare and haircare products for its anti-aging properties.
SWOT Analysis
Strength: High antioxidant and anti-inflammatory properties of EGT make it suitable for various healthcare and cosmetic applications.
Weakness: Limited natural sources of EGT production constraints its supply. Extraction process from natural sources is complex and costly.
Opportunity: Untapped potential of EGT in conditions like neurodegenerative diseases offers lucrative growth opportunities. Increasing investments by players to develop cost-effective production technologies.
Threats: Stringent regulatory approvals and lack of clinical evidence on certain health claims of EGT poses challenges. Substitution threat from other herbal antioxidants.
Key Takeaways
The Global L-Ergothioneine (EGT) Market Size is expected to witness high growth, exhibiting CAGR of 38.% over the forecast period, due to increasing demand from healthcare supplements and cosmetic industries. Regionally, North America dominate currently due to growing health-conscious population and robust nutraceutical industry in the region. Asia Pacific is anticipated to be the fastest growing market owing to growing middle class population, rising disposable incomes and increasing awareness about benefits of herbal ingredients in the region.
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. The global L-Ergothioneine (EGT) market size was valued at US$ 40.8 Mn in 2023 and is projected to reach over US$ 350 Mn by 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it