Activated charcoal will garner increasing consumer demand on the back of increasing end-use industry applications and awareness about its medical properties. The market is set for an astounding growth trajectory of more than 11% from 2019 to 2029. Major drivers of this growth are multiplying consumer traction from millennial as well as geriatric population, and government regulations on industrial wastewater treatment. Activated charcoal supplements are effective in treating indigestion, diarrhea, and flatulence conditions. It is manufactured from eco-friendly raw materials such as coconut shells, olive stoners, peat, fruit pits, and saw dust.
Key Takeaways of Activated Charcoal Supplements Market Study
- Powder product types will gain maximum growth owing to its highly soluble nature. The segment exhibits continued share-wide dominance through the end of 2029.
- Tablets are second most demanded product type owing to the popularity of tablets among geriatric population which forms a majority of activated charcoal supplement consumers.
- North America holds over 1/4th of the market share, followed by Latin America and Europe which collectively account for more than 1/4th of the total market value.
- East Asia offers the most remunerative growth opportunities with an astounding 13% CAGR during the forecast period.
- Drug stores generate maximum sales which makes this sales channel a leader in the segment. This is followed by health & beauty stores that cater to the millennial audience.
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Activated charcoal is organic in nature and versatile in use-cases. The global activated charcoal supplements market will leverage these properties and garner multiplying revenues during the forecast period. Market players must invest in research and development of use-cases and manufacturing processes. -Says FMI Analyst
Industrial Use-Cases Bolster Sustainable Growth
Industrial purification employs activated charcoal to effectively control mercury levels. Governments around the world are introducing stringent regulations to keep industrial pollution in check. In the near future, it is expected that activated charcoal will bolster growth in many industrial use-cases such as coal-fired power plants, clinker cement plants, and other industries that use large boilers in the manufacturing process. Market players stand to gain from this industrial trend, given they are prepared with innovative applications of activated charcoal supplement in various applications such as water treatment, hydrogen sulfide removal, chlorine removal, and air purification.
Who is winning?
Winners in the activated charcoal supplements market strategically position their R & D centers, adopt innovative development strategies, and embrace industry 4.0 technologies such as Industrial Internet of Things, cloud computing, artificial intelligence, and machine learning. Market players that embody this winning personality in different capacities are ADA-ES, Inc., Boyce Carbon, Jacobi Carbons AB, Cabot Corporation, Calgon Carbon Corporation, CarboTech AC GmbH, Evoqua Water Technologies LLC, Osaka Gas Chemicals Co, Oriental Trading Co., Ltd., and Kalpachar Products Pvt.
What does the future hold?
Increase in government regulations on mercury, hydrogen sulfide, chlorine, and water contamination is expected to provide future growth opportunities. Developing application in medical treatments, liquid purification, and gas phase purification processes is expected to thrust market growth. Commercial end-use industry will grow on the back of increasing awareness among consumers and multiplying cases of intestinal diseases.
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Future Market Insights has published a market research report on the activated charcoal supplements market, which contains global industry analysis of 2014–2018 and opportunity assessment for 2019–2029. This report provides an unbiased analysis of the activated charcoal supplements market through three different segments – product type, primary function, sales channel, and region. The activated charcoal supplements market report also provides demand trends and opportunities of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.
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