Global Ketones market is anticipated to grow significantly with 4.89% CAGR and reach up to USD 1101.17 million by 2028 due to growing people’s preference towards healthy foods. In 2020, “Keto” was one of the most frequently searched term on google, which shows the public awareness in people after coronavirus pandemic. As a result, there is 21% increase in sales of bars, cereals, baking mixes, cookies and snacks category containing Ketone.

Ketones are organic molecules with a carbonyl group that work as solvents, intermediates, and raw materials, which is used by manufacturers to produce various chemicals. The growing demand for ketones in several end-use applications, including solvents, paints and coatings, pharmaceuticals, food and beverage, and other industries, is the main driver of the worldwide ketone market, which is a subset of the wider chemical industry. Apart from these, favorable government policies by globally leading company are propelling the global ketone market share.

Increasing Demand from Food & Beverage Sector is a Driving Factor for Market Growth

Ketones are used in the food and beverage industry as flavoring agents and fragrances. They are naturally occurring compounds found in various fruits and vegetables, and synthetic ketones are also used in the industry. In 2019, Antimicrobial resistance poses a danger to global public health, causing at least 1.27 million deaths globally and approximately 5 million fatalities. As an outcome, peoples are introducing different food products in their diet that contain high protein and vitamins levels. For example, the commonly used ketone in the food industry is acetone, which is used as a flavoring agent in certain food products. Acetone has a sweet, fruity odor and is used to enhance the flavor of certain fruits and beverages. Another ketone commonly used in the food and beverage industry is 2-heptanone, which has a fruity, floral aroma and is used as a flavoring agent in baked goods, desserts, and beverages. Ketones are also used in the production of artificial flavors and fragrances, where they are combined with other compounds to create unique and desirable flavors and scents. The demand for natural and organic flavoring agents is increasing, which is expected to drive the demand for ketones derived from natural sources such as fruits and vegetables. Therefore, there will be rise in market share of ketone market globally in the forecasted period.

Rising Demand from Cosmetics & Personal Care industry is Propelling Market Growth

Ketones play an important role in the cosmetics and personal care product industry by providing solvents, fragrances, and being a key component in the production of various chemicals and ingredients. As solvents, ketones such as acetone are commonly used in nail polish removers and as a cleaning agent for makeup brushes and tools. Ketones are also used as a solvent in the production of various cosmetic ingredients, including resins, waxes, and oils. According to TechSci Research analysis, it is expected that approx. 18% of global ketone market will be held by cosmetic & personal care products in 2028. Apart from these, ketones are used as fragrances in cosmetics and personal care products due to their unique odor characteristics. For example, diacetyl is a ketone that has a buttery aroma and is used in various cosmetics such as lotions, creams, and hair care products. Additionally, ketones such as methyl ethyl ketone (MEK) and methyl isobutyl ketone (MIBK) are used in the production of various chemicals and ingredients used in cosmetics and personal care products, including phthalate-free plasticizers, solubilizers, and resins. The demand for natural and organic cosmetic ingredients is increasing, which is expected to drive the demand for ketones derived from natural sources such as fruits and vegetables. Hence, it is expected that demand of Ketone is going to rise worldwide in the forecasted period.

Growing Demand for Industrial Application is a Market Driving Factor

Ketones are used as intermediates in the production of other chemicals such as methyl isobutyl ketone (MIBK) and diacetone alcohol (DAA), which are used by various end user industries due to it being chemically stable with relatively low density and strong solvent power. Ketones are widely used as intermediates in the production of various chemicals, pharmaceuticals products, and other products. As intermediates, ketones are used to synthesize more complex molecules through chemical reactions. For example, acetone is a commonly used ketone intermediate that is used in the production of various chemicals, including methyl methacrylate (MMA), a precursor to polymethyl methacrylate (PMMA) plastics. Acetone is widely used as an intermediate compound in the production of isopropanol and different industrial chemicals for the production of coating, paints, and other products. 2-butanone, which is used as an intermediate in the production of various chemicals, including methyl isobutyl ketone (MIBK), which is used as a solvent in the production of paints, coatings, and resins is further expected to support the demand for ketones, thereby driving the growth of global ketones market. Ketones are also used as intermediates in the production of various pharmaceutical grade products such as acetophenone, which is an intermediate used in the production of the analgesic drug, phenacetin. The ability of ketones to undergo chemical reactions and form more complex molecules makes them an essential component for many industrial processes that led to increase in the demand of ketone from industries for manufacturing their product in the forecasted period.

Growing Demand from Pharmaceutical Market is Propelling the Market Share

In the pharmaceutical industry, Ketones are used for their ability to act as building blocks in the synthesis of various active pharmaceutical ingredients (APIs) and intermediates. Ketones are versatile organic compounds that can undergo a wide range of chemical reactions, making them useful in the synthesis of many different types of pharmaceuticals such as acetone. Acetone is used as an intermediate in the production of a wide range of pharmaceuticals, including sedatives, hypnotics, and analgesics. Acetone is also used in the production of corticosteroids, which are anti-inflammatory drugs used to treat a variety of conditions, including asthma and arthritis. Different researches in Europe on ketone medicine benefits showed its use in strengthening human immunity. Furthermore, the type of ketone used in the pharmaceutical industry is benzophenone, which is used as an intermediate in the synthesis of various pharmaceuticals, including antidepressants, anticonvulsants, and antihistamines. The ability of ketones to undergo a wide range of chemical reactions makes them versatile and useful in the production of many different types of pharmaceuticals.

Favorable Government Policies on Ketone is Driving the Demand

Governments around the world are aware about the usefulness of ketone for people as well as industries. Hence, they are introducing policies which can include regulations, incentives, and funding programs that promote safety and sustainability for ketone-based industries, such as providing tax incentives or other benefits to encourage innovation in the development of new ketone-based products and technologies. These incentives can help stimulate research and development in the field of ketones, leading to the development of more efficient and sustainable processes for producing and using ketones. Governments are providing funding for research into the applications and properties of ketones. This funding can support the development of new pharmaceuticals, cosmetics, and other products that use ketones, as well as research into the use of ketones in renewable energy and other sustainable applications.

In 2005, the U.S. Environmental Protection Agency (EPA) removed MEK from the list of toxic air pollutants and concluded that “potential exposures to MEK emitted from industrial processes may not reasonably be anticipated to cause human health or environmental problems which resulted to increase the demand of ketones in the United States of America.

Recent Developments

  • In November 2022, Biotechnology company Genomatica developed & launched a renewable chemical, Avela (R)-1,3-butanediol, to induce exogenous ketosis in the body.
  • In April 2020, best-selling crispy cheese mixtures will again be available, according to Keto Farms. The new goods will provide their clients with a low-carb combination of crispy cheeses and nuts that will sate appetites for food while limiting calories.
  • Keto and Co, maker of the popular Sated keto shake, launched a Ready-To-Drink keto meal shake in December 2019.
  • Gratitude Health Inc. will introduce the world's first ready-to-drink line of ketogenic meal-replacement shakes in January 2019, which is an organization committed to promoting healthy nutrition through inventive functional drinks.


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Market Segmentation

Global Ketone Market is segmented based on type, supplement type, form, application, and region. Based on form, the market is segmented into dry and liquid. Based on type, the market is segmented into synthetic and bio. Based on supplement, the market is categorized into ketone salts, ketone esters, ketone oil, and raspberry ketones. Based on application, the market is fragmented into food & beverages, cosmetics & personal care products, building and construction, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.

Company Profiles

Solvay Specialty Polymers, Eastman Chemicals Co., BASF SE, Celanese Corporation, AstaTech, Inc., Genomatica Inc., Falcon Worldwide Chemical Inc., Limitless Venture Group, Inc., ALTIVIA Ketones & Additives, LLC, Ketone Aid Inc., HVMN Inc, Perfect Keto are some of the key players of Global Ketone Market.

Attribute

Details

Market Size in 2022

USD 820.04 million

Market Size in 2028

USD 1101.17 million

Growth Rate

4.89%

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Form

Type

Supplement Type

Application

Regional scope

North America, Europe, Asia Pacific, South America, Middle East & Africa

Country scope

United States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, France, China, India, South Korea, Japan, Australia, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE

Key companies profiled

Solvay Specialty Polymers, Eastman Chemicals Co., BASF SE, Celanese Corporation, AstaTech, Inc., Genomatica Inc., Falcon Worldwide Chemical Inc., Limitless Venture Group, Inc., ALTIVIA Ketones& Additives, LLC, Ketone Aid Inc., HVMN Inc, Perfect Keto

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, global Ketone market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

  • Ketone Market, By Form:
    • Dry
    • Liquid
  • Ketone Market, By Type:
    • Synthetic
    • Bio-Ketone
  • Ketone Market, By Supplement Type:
    • Ketone Salts
    • Ketone Esters
    • Ketone Oil
    • Raspberry Ketones
  • Ketone Market, By Application:
    • Food & Beverage
    • Pharmaceuticals
    • Cosmetic & Personal Care Products
    • Building & Construction
    • Others
  • Ketone Market, By Region:
    • North America
      • United States
      • Mexico
      • Canada
    • Europe
      • France
      • Germany
      • United Kingdom
      • Spain
      • Italy
    • Asia-Pacific
      • China
      • India
      • South Korea
      • Japan
      • Australia
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Ketone market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Impact of COVID-19 on Global Ketones Market

4.    Executive Summary

4.1.  Overview of the Market

4.2.  Overview of Key Market Segmentations

4.3.  Overview of Key Market Players

4.4.  Overview of Key Regions/Countries

4.5.  Overview of Market Drivers, Challenges, and Trends

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Demand, By Application

5.3.  Preference for Ketones

6.    Global Ketones Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Form (Dry v/s Liquid)

6.2.2.     By Type (Synthetic v/s Bio)

6.2.3.     By Supplement Type (Ketone Salts, Ketone Esters, Ketone Oil, Raspberry Ketones)

6.2.4.     By Application (Food & Beverage, Pharmaceuticals, Cosmetic & Personal Care, Building & Construction, Others)

6.2.5.     By Region

6.2.6.     By Company (2022)

6.3.  Product Market Map

7.    North America Ketones Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Form

7.2.2.     By Type

7.2.3.     By Supplement Type

7.2.4.     By Application

7.2.5.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Ketones Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Form

7.3.1.2.2.             By Type

7.3.1.2.3.             By Supplement Type

7.3.1.2.4.             By Application

7.3.2.     Mexico Ketones Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Form

7.3.2.2.2.             By Type

7.3.2.2.3.             By Supplement Type

7.3.2.2.4.             By Application

7.3.3.     Canada Ketones Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Form

7.3.3.2.2.             By Type

7.3.3.2.3.             By Supplement Type

7.3.3.2.4.             By Application

8.    Asia-Pacific Ketones Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Form

8.2.2.     By Type

8.2.3.     By Supplement Type

8.2.4.     By Application

8.2.5.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Ketones Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Form

8.3.1.2.2.             By Type

8.3.1.2.3.             By Supplement Type

8.3.1.2.4.             By Application

8.3.2.     India Ketones Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Form

8.3.2.2.2.             By Type

8.3.2.2.3.             By Supplement Type

8.3.2.2.4.             By Application

8.3.3.     South Korea Ketones Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Form

8.3.3.2.2.             By Type

8.3.3.2.3.             By Supplement Type

8.3.3.2.4.             By Application

8.3.4.     Japan Ketones Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Form

8.3.4.2.2.             By Type

8.3.4.2.3.             By Supplement Type

8.3.4.2.4.             By Application

8.3.5.     Australia Ketones Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Form

8.3.5.2.2.             By Type

8.3.5.2.3.             By Supplement Type

8.3.5.2.4.             By Application

9.    Europe Ketones Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Form

9.2.2.     By Type

9.2.3.     By Supplement Type

9.2.4.     By Application

9.2.5.     By Country

9.3.  Europe: Country Analysis

9.3.1.     Germany Ketones Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Form

9.3.1.2.2.             By Type

9.3.1.2.3.             By Supplement Type

9.3.1.2.4.             By Application

9.3.2.     Spain Ketones Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Form

9.3.2.2.2.             By Type

9.3.2.2.3.             By Supplement Type

9.3.2.2.4.             By Application

9.3.3.     Italy Ketones Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Form

9.3.3.2.2.             By Type

9.3.3.2.3.             By Supplement Type

9.3.3.2.4.             By Application

9.3.4.     France Ketones Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Form

9.3.4.2.2.             By Type

9.3.4.2.3.             By Supplement Type

9.3.4.2.4.             By Application

9.3.5.     United Kingdom Ketones Market Outlook

9.3.5.1.         Market Size & Forecast

9.3.5.1.1.             By Value

9.3.5.2.         Market Share & Forecast

9.3.5.2.1.             By Form

9.3.5.2.2.             By Type

9.3.5.2.3.             By Supplement Type

9.3.5.2.4.             By Application

10.  South America Ketones Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Form

10.2.2.  By Type

10.2.3.  By Supplement Type

10.2.4.  By Application

10.2.5.  By Country

10.3.              South America: Country Analysis

10.3.1.  Brazil Ketones Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Form

10.3.1.2.2.           By Type

10.3.1.2.3.           By Supplement Type

10.3.1.2.4.           By Application

10.3.2.  Argentina Ketones Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Form

10.3.2.2.2.           By Type

10.3.2.2.3.           By Supplement Type

10.3.2.2.4.           By Application

10.3.3.  Colombia Ketones Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Form

10.3.3.2.2.           By Type

10.3.3.2.3.           By Supplement Type

10.3.3.2.4.           By Application

11.  Middle East and Africa Ketones Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value

11.2.              Market Share & Forecast

11.2.1.  By Form

11.2.2.  By Type

11.2.3.  By Supplement Type

11.2.4.  By Application

11.2.5.  By Country

11.3.              MEA: Country Analysis

11.3.1.  South Africa Ketones Market Outlook

11.3.1.1.      Market Size & Forecast

11.3.1.1.1.           By Value

11.3.1.2.      Market Share & Forecast

11.3.1.2.1.           By Form

11.3.1.2.2.           By Type

11.3.1.2.3.           By Supplement Type

11.3.1.2.4.           By Application

11.3.2.  Saudi Arabia Ketones Market Outlook

11.3.2.1.      Market Size & Forecast

11.3.2.1.1.           By Value

11.3.2.2.      Market Share & Forecast

11.3.2.2.1.           By Form

11.3.2.2.2.           By Type

11.3.2.2.3.           By Supplement Type

11.3.2.2.4.           By Application

11.3.3.  UAE Ketones Market Outlook

11.3.3.1.      Market Size & Forecast

11.3.3.1.1.           By Value

11.3.3.2.      Market Share & Forecast

11.3.3.2.1.           By Form

11.3.3.2.2.           By Type

11.3.3.2.3.           By Supplement Type

11.3.3.2.4.           By Application

12.  Market Dynamics

12.1.              Drivers

12.2.              Challenges

13.  Market Trends & Developments

14.  Pricing Analysis

15.  Competitive Landscape

15.1.              Competition Outlook

15.2.              Company Profiles

15.2.1.  Solvay Specialty Polymers

15.2.2.  Eastman Chemicals Co.

15.2.3.  BASF SE

15.2.4.  Celanese Corporation

15.2.5.  AstaTech, Inc.

15.2.6.  Genomatica Inc.

15.2.7.