Alpha Lipoic Acid Market is expected to witness high growth due to the increasing health awareness among consumers

The alpha-lipoic acid market is expected to be valued at $1,070.4 million by 2024 and is expected to show a CAGR of 6.9% during the forecast period 2024-2031, as revealed in a new report published by Coherent Market Insights.

The growth of the alpha-lipoic acid market is primarily driven by rising health consciousness among consumers and growing cases of obesity and diabetes. Alpha-lipoic acid helps to convert glucose into energy which aids in managing diabetes and overweight conditions. Further, alpha-lipoic acid is an antioxidant that protects the body from oxidative stress thereby witnessing increased demand from fitness enthusiasts and health-conscious consumers.

Key Market Trends:

Growing Demand for Nutraceuticals – The demand for functional foods and nutraceuticals is rising globally due to their associated health benefits. Alpha-lipoic acid finds wide application in nutraceutical products due to its antioxidant properties. It helps boost energy levels, supports liver function, and aids in weight management. This growing demand for nutraceuticals infused with ALA acts as a major trend in the market.

Increasing Adoption of Organic and Clean Label Products – Today’s consumers prefer organic, natural, and clean label products due to rising health concerns. They wish to avoid synthetic ingredients, preservatives, colors, and other chemicals. This increasing inclination towards organic and clean label products provides opportunities for organic ALA manufacturers with natural sources like spinach and broccoli. The offering of organic, Vegan, Halal, and Kosher certified ALA variants aims to leverage this emerging trend. More coverage can be found in the sample copy.

Market Opportunity

The alpha-lipoic acid market is segmented on the basis of product into capsule, tablet, powder, and liquid. Among these, the capsule segment held the largest market share of around 45% in 2019 owing to ease of consumption and targeted delivery of active ingredients. Capsules protect alpha-lipoic acid from gastric acid and enzymes allowing it to pass through the stomach and dissolve in the small intestine for better absorption in the bloodstream. Capsules also offer standardized dosage and consistent performance.

The market is also segmented based on product form into crystalline powder and spray-dried powder. The crystalline powder segment accounted for nearly 60% share in 2019 due to its ability to stabilize alpha-lipoic acid at higher temperatures without undergoing degradation. Crystalline powder has a longer shelf-life and higher potency as compared to other product forms. It is mainly used in dietary supplement and pharmaceutical applications where purity and stability are the prime requirements.

Key Market Takeaways:

The global alpha-lipoic acid market is anticipated to witness a CAGR of 6.9% during the forecast period 2024-2031, owing to rising consumer awareness about the health benefits of alpha-lipoic acid in metabolic disorders and other chronic diseases. Based on product, the capsule segment is expected to hold a dominant position, accounting for over 40% share due to higher consumer preference for capsules over other formats.

On the basis of product form, the crystalline powder segment is projected to dominate over the forecast period owing to its good stability profile and ability to maintain the potency of alpha-lipoic acid.

By region, North America is expected to hold a dominant position over the forecast period with around 40% share of the global market. This is attributed to growing adoption of nutraceuticals and increasing health consciousness among consumers in the region.

Competitor Insights:

Olon S.p.A.

Spectrum Chemical

Hangzhou FST Pharmaceutical

Recent Developments in Alpha-Lipoic Acid Market

In 2023, a major milestone was achieved as ALA received approval for marketing in the EU for the treatment of diabetic neuropathy. This opened up a huge market and established ALA as a prescription medication rather than just a dietary supplement. It also spurred more research on its efficacy for other forms of neuropathy caused by chemotherapy, HIV/AIDS, etc. Manufacturers are collecting additional clinical trial data to apply for approvals in neuropathy as well as diabetic macular edema in the near future. In the US, approvals are expected by 2024 for select medical categories.

Based on this accumulating evidence, many supplement companies expanded ALA product lines in late 2023 and early 2024 to explicitly highlight its potential brain and memory support. Companies redesigned packaging, marketing materials and websites to feature neurological health claims more prominently. NutraNorth began a direct-to-consumer TV advertising campaign in spring 2024 promoting their “ALA Focus” capsules for memory, mood and cognitive performance. These strategic moves paid off, with analysts estimating the neurological segment of the overall ALA market grew over 50% in 2023. Full coverage of the report available here.