Coenzyme Q10 (CoQ10) is found in every living organism, giving rise to its scientific name ubiquinone (from its ubiquitous positioning). It’s also increasingly taking over shelf space in retail stores and finding itself the subject of Web sites and mainstream media articles, and the key compound in products from smoothies to skin cream.
“The market for products containing CoQ10 in the United States is certainly continuing to grow,” noted Eugene Ung, director of marketing, Best Formulations. “Research that has come out about the health benefits associated with CoQ10 supplementation coupled with lower and stabilized pricing of CoQ10 over the past couple of years have helped increase the popularity for CoQ10 products.”
Scott Steinford, president, ZMC-USA, said the U.S. market for CoQ10 has increased more than threefold since 2001, rising from 53 metric tons (MTs) to nearly 190MTs in 2008. Among the factors behind the growth? “First, affordability—raw material prices have dropped dramatically as a result of over capacity by manufacturers,” he said. “Next, science. The evidence associated with CoQ10 is solid and substantial, and it remains one of the most doctor-recommended specialty supplements. Finally, those studies have shown it to be helpful in a wide variety of conditions ranging from heart health and gingivitis to Parkinson’s disease, broadening its applications.”
A report from Mintel noted ongoing research supports the use of CoQ10 beyond its traditional cardiac and energy benefits into eye care, obesity and even fertility. The market research firm added a combination of items, including the aging population and rising health care costs are likely to continue to drive consumers to opt for functional foods and dietary supplements with CoQ10.
That appears to be the case, according to industry members, as the CoQ10 market is growing in spite of the down economy. “With the jobless situation causing fewer people to have health care insurance, people are looking to supplements to prevent them from getting sick,” said Steve Holtby, president/CEO, Soft Gel Technologies Inc. (SGTI). And Tom Schrier, national sales manager, Kaneka, added, “We’ve seen the market for CoQ10 and our new KanekaQH™ ubiquinol grow in spite of the economic downturn.”
That market growth is spanning industry sectors as well, growing beyond its traditional home in the dietary supplement aisle into the food and beverage and personal care areas. “There is certainly growth in the dietary supplement segment; however, we do see many functional food and beverage companies inquiring about CoQ10 and how to stabilize and adapt it for a particular use,” Ung said. “Because CoQ10 is such an expensive nutrient, it will be more challenging for food companies to incorporate. However, we will probably be seeing more CoQ10 in functional foods and beverages in the future. There was a boom in CoQ10 cosmetic products about five years ago, but many of the products contained a miniscule amount just to put CoQ10 on the label for marketing purposes and, therefore, the products didn’t deliver the benefits.”
Rodger Jonas, national business development manager, P.L. Thomas, noted greater availability of CoQ10 has opened up the market. “Two years ago, there wasn’t enough CoQ10 available for the food industry,” he said. “However, Kaneka opened a plant in the United States in 2008, which resolved the issue. So now, beverages are the fastest growing segment for CoQ10, followed by cosmeceuticals.”
Holtby agreed with Jonas’ assessment of the market growth, noting, “The dietary supplement market is saturated with CoQ10 products. The fastest growing category is functional foods and beverages, due to the development of water-dispersible versions of CoQ10. The sports and energy drinks sector has some promising potential, as more consumers learn CoQ10’s role in cellular energy production. And the cosmetic industry is also utilizing CoQ10 in topical skin products.”