The L-ergothioneine (EGT) market comprises supplements containing natural antioxidant l-ergothioneine that helps in neutralizing free radicals caused due to oxidative stress. EGT supplements have various health benefits including boosting immunity, reducing inflammation, protecting cells from DNA damage, and promoting overall health.
The Global L-Ergothioneine Market is estimated to be valued at US$ 47.01 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the L-Ergothioneine market are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Thales Group (France), etc. EGT supplements have various health benefits including boosting immunity, reducing inflammation, protecting cells from DNA damage, and promoting overall health. The growing awareness about health benefits of EGT is fueling the demand in the market. Some key players are expanding their business globally to strengthen their market presence and gain higher revenue share.
Market key trends
One of the key trends in the L-Ergothioneine (EGT) Market Size is growing adoption of vegan and plant-based supplements. With rising vegan population worldwide, the demand for vegan EGT supplements is increasing rapidly. Many supplement manufacturers are focusing on developing vegan supplements sourcing EGT from plant-based sources like mushrooms to cater to the rising demand from vegan consumers. This trend is expected to continue in the forecast period.
Porter’s Analysis
Threat of new entrants: Startups and small companies face high threat for innovation from global market leaders.
Bargaining power of buyers: Large buyers have significant bargaining power due to existence of many existing and potential suppliers, but differentiated product offerings mitigate this threat.
Bargaining power of suppliers: Suppliers have moderate bargaining power because products require specialized expertise but can be substituted.
Threat of new substitutes: Potential threat from substitutes is moderate as EGT domain expertise creates high switching costs.
Competitive rivalry: Intense competition exists due to differentiated offerings and technologies pursued by leading regional firms.
Geographical Regions
North America accounts for the largest share in value terms as large clients from healthcare and food & beverages industries drive high demand. The Asia Pacific region is expected to witness fastest growth through 2031 on back of rising health consciousness, growing per capita incomes and emergence of regional leaders.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.