Alpha lipoic acid (ALA) is a naturally occurring compound found in small amounts in foods such as spinach, broccoli, and beef liver. It is also available as a dietary supplement. ALA is a powerful antioxidant that can help protect cells from damage caused by free radicals. Free radicals are unstable molecules that can damage cells, DNA, and proteins. They are thought to play a role in the development of a number of chronic diseases, including heart disease, cancer, and neurodegenerative disorders.
ALA is also a versatile compound that can perform a variety of other functions in the body. It can help to improve insulin sensitivity, reduce inflammation, and protect against nerve damage. As a result of its many health benefits, the demand for ALA is growing. According to Stratview Research, the alpha lipoic acid market size was valued at USD 902.66 million in 2022 and is projected to reach USD 1382.41 millio by 2028, expanding at a CAGR of 6.22% during the forecast period of 2022-2028..
Market Drivers
The growth of the alpha lipoic acid market is being driven by a number of factors, including:
- Growing awareness of the health benefits of ALA. As more people learn about the potential health benefits of ALA, demand for the compound is increasing. ALA has been shown to be effective in treating a variety of conditions, including diabetic neuropathy, nerve damage, and high blood sugar.
- Increasing prevalence of chronic diseases. Chronic diseases such as heart disease, cancer, and neurodegenerative disorders are becoming increasingly common. ALA has been shown to be effective in preventing and treating these diseases, which is driving demand for the compound.
- Growing popularity of dietary supplements. Dietary supplements are becoming increasingly popular as people seek ways to improve their health and well-being. ALA is a popular dietary supplement because of its many health benefits.
- Rising disposable incomes in developing countries. Developing countries such as China and India are experiencing rapid economic growth, which is leading to an increase in disposable incomes. This is leading to an increase in demand for health and wellness products, including ALA.
Market Trends
The alpha lipoic acid market is expected to undergo a number of trends in the coming years, including:
- Increased focus on natural products. Consumers are increasingly looking for natural ways to improve their health. This is leading to an increase in demand for natural products such as ALA.
- Development of new delivery methods. Researchers are working on developing new delivery methods for ALA that can improve its absorption and bioavailability. This is expected to lead to increased demand for ALA.
- Growing popularity of ALA in the pharmaceutical industry. ALA is being increasingly used in the pharmaceutical industry to treat a variety of conditions. This is expected to drive demand for ALA in the coming years.
- Expansion of the market in developing countries. Developing countries such as China and India are experiencing rapid economic growth, which is leading to an increase in demand for health and wellness products, including ALA. This is expected to drive the growth of the alpha lipoic acid market in these regions.
Regional Analysis
Asia-Pacific held more than 30% market share in 2021and is estimated to be the fastest-growing region in the market during the assessment period with India and China being the growth engines of the market. Asia-Pacific will exhibit a CAGR of more than 6.5% during the assessment period. .
Competitive Landscape
The global alpha lipoic acid market is highly competitive, with a number of major players operating in the market. The major players include BASF SE, Kyowa Hakko Bio, Adisseo France SAS, Huazhong Pharmaceutical Co., Ltd., and Taike Biological Co., Ltd. These players are engaged in developing new products and expanding their distribution networks in order to maintain their competitive edge.
