Ketone Market

Ketones Market Size, Share, Growth (2023-2028)

Ketones Market size was estimated to increase from USD 443 million in 2023 to reach a value of USD 640 million by 2028, noticing a growth rate of 6.3%. 

Ketones Market Overview:

Ketones are generally compounds containing carbonyl groups and are considered essentially simple because they exclude reactive groups such as -Cl or -OH. Industrial solvents acetone and sugar (keto) are some of the commonly used ketones. Various methods for producing ketones are implemented in academic laboratories on an industrial scale and are specifically produced by organisms. Ketones are made on a massive scale in the industry as medicines, polymer precursors, and solvents. Based on the type, ketones are further categorized as cyclohexane, methyl ethyl ketone (MEK) and acetone. Ketone is a commonly used term in biochemistry, but it is a lesser-known term in organic chemistry. MEK is a colorless, flammable and stable liquid with an acetone-like odor. It exhibits the ability to be miscible with water and other organic solvents. MEK is a useful and powerful solvent for many solvents like resin materials due to its excellent solubility.

Recent Developments in Ketones Industry:

• In January 2020, Limitless Venture Group, Inc. acquired the majority of the property in association with KetoSports, Inc. a ketone manufacturer. This acquisition aims to expand the ketone market business of Limitless Venture Group, Inc.

• In November 2019, ALTIVIA Ketones & Additives, LLC completed the purchase of the Dow Acetone Derivatives Business and chemical production assets in West Virginia.

• In 2017, HVMN partnered with the University of Oxford to create a ketone drink that elite rider Vittoria Bussi uses to break cycling records around the world.

REPORT COVERAGE:

Ketones Market Market Ketones Market Drivers:

The global ketone market is foreseen to progress with the surge in demand in end-use industries like automotive and medical. In general, acetone, polyether ether ketone (PEEK), cyclohexane, and methyl ethyl ketone (MEK) are the most common variants of ketones. The most widely used ketones are sugar (ketose) and industrial solvent acetone. Ketones are mainly produced using organisms. Solvents, pharmaceuticals and polymer precursors are the main industries that make ketones on a large scale and are expected to drive global demand during the forecast period. Due to its ecological properties, it can comply with the strict regulations and emission standards of advanced regions. This trend is expected to significantly increase market growth during the outlook period. Due to this property, ketones are expected to become established as plastic alternatives during the forecast period. Expanding the application base for automotive, electronic, electrical and industrial processes is expected to further accelerate market demand in the coming years. The automotive industry held the most significant market share in terms of consumption. Also, as the number of R&D activities increases to increase the coverage of the PEEK healthcare industry, it is assumed that new opportunities will be offered for the growth of the entire ketone market. The automotive industry is an important segment of the ketone business. Due to inclining fuel prices and renewable resources, the efficiency of fuel has become a prominent factor in improving demand for automobiles. Other factors, such as vehicle weight, also affect fuel efficiency, increasing demand for polyether ether ketones due to their high strength and low weight properties. The increased use of ketone supplements among athletes is one of the main factors that is supposed to drive growth in the supplement segment.

Furthermore, an increase in per capita income and an increase in the elderly population have led people to invest in the health sector. Consumers are increasingly focusing on health and awareness in the medical sector. These factors are presumed to drive growth in the ketone market during the forecast period. Due to its environmentally friendly ketone properties, it can meet the stringent regulations and emission standards of advanced regions. This trend is anticipated to significantly increase market growth during the outlook period. Furthermore, ketones comply with various environmental regulations due to the low environmental risk associated with the use and manufacture of ketones. This has contributed greatly to the growth of the ketone market as the demand for environmentally friendly and efficient materials has increased. Increased consumption of prepared foods, increased consumer health awareness, and multifunctionality of ketones are some of the main factors leading to increased applications and increased demand for ketone supplements. These factors are likely to drive growth in the global ketones market. Some of the main trends the market is witnessing are exogenous ketones to support the ketosis process, and increased use of ketones to create growth opportunities for manufacturers in the beverage industry and demand for this oil in food and drinks is augmenting.

Restraints:

High prices, along with several alternatives with similar properties in the market, are estimated to hamper the growth of the global market. Focusing on increasing the taste of ketone products, increasing spending, increasing R&D costs, and experiencing technical difficulties in the production process are also acting as market constraints.

Ketones Market Segmentation Analysis:

By Application:

• Supplements

• Food & Beverage

• Cosmetics & Personal Care

By Supplement Type:

• Ketone Salts

• Ketone Esters

• Ketone Oils

• Raspberry Ketones

By Form:

• Solid

• Liquid

• Non-Liquid

Geographical Segmentation Analysis:

• North America - the United States and Canada

• Europe - United Kingdom, Spain, Germany, Italy, and France

• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia

• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM

• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The regions analysis of this market includes North America, Europe, South America, Asia Pacific and the Middle East and Africa. Asia Pacific leads the market share in the world ketone market. China maintained the largest share of methyl ethyl ketone (MEK). Asia-Pacific is expected to show high growth during the forecast period due to favorable economic factors, such as industrialization in emerging countries, including India and China, along with the development of the chemical industry infrastructure. Natural disasters in Japan have confused the Asia Pacific market in recent years. Healthy growth in the country is foreseen during the prediction period due to the continued development of end-use industries, including chemical, medical, and automotive. In North America, significant market growth is expected during the projection period, primarily as demand from end-use industries in the automotive industry increases. In terms of market growth, North America is supposed to follow Europe due to a strict regulatory framework. The United States remains the primary ketone market in North America. The rise in obesity cases in North America is due to the increased popularity of ketone supplements and food and drink replacements for weight loss. These factors are deemed to drive growth in the global ketone market. In addition, restaurants in the region also offer ketone-based food and beverage options due to high consumer demand, which is considered to drive growth in the global ketones market.

Ketones Market Key Players:

Major Key Players in the Global Ketones Market are

• Perfect Keto (US)

• HVMN Inc. (US)

• BPI Sports (US)

• Ketologic (US)

• Pruvit (US)

• Ketone Aid Inc (US)

• Compound Solution Inc. (US)

• Sapien Body (US)

• Zhou Nutrition (US)

• Know Brainer Foods (US)

• Finaflex (US)

• Ion Labs (US)

• Keto & Company (US)

• Boli Naturals (US)

• Volken Chemicals (India)

• Union Pharmpro Company Ltd. (China)

• Nutrex Research (US)

• Ancient Nutrition (US)

• Zenwise Health (US)