Ubiquinone Prices are expected to rise in the US on the back of the Growing Demand and Increased Freight Charges

In the past fifteen years, Nutraceutical’s market in the US has seen dramatic changes and consolidation of supply. Nutraceuticals provide numerous health advantages and additional nutrition to the human body. It comprises several fortified nutrients, such as CoQ10, calcium, omega-3, zinc, antioxidants, and others. These nutraceutical products develop digestive and immune systems and help in enhancing the cognitive behavior of consumers, due to which their demand has grown significantly at the global level.

These nutrients also help in averting medical conditions such as diabetes, heart diseases, hypertension, and allergies. CoQ10, also known as Ubiquinone, remains one of the most studied and understood supplements with a known mechanism of action and demonstrable results as it helps in regulating heart health and blood sugar. The rapidly growing trend among health-conscious consumers in the US to alter dietary habits is boosting the demand for CoQ10. Their belief that improper diet results in an increase in the prices of pharmaceuticals is likely to drive the demand for Nutraceuticals.

As per ChemAnalyst, the price of Ubiquinone is anticipated to rise in the US domestic market on the back of the consistently increasing demand from the downstream manufacturers. After witnessing a hike of 0.38% in the fourth week of January, Ubiquinone prices escalated from USD 518500/MT to USD 520480/ MT CIF Los Angeles from 21st January to 28th January. As CoQ10 is majorly imported from China, higher raw materials, freight, and logistics prices are further escalating the prices of CoQ10 in the US. Traders are feeling the pain from sourcing products from China right now due to their adapted zero-tolerance covid policy as a control measure which has led to an increase in their commodity prices. Several American importers are struggling to meet the demand as inventories remain lull and supply chains are strained to move unprecedented amounts of cargo, especially from Asia.

According to an industry expert, it’s now taking 110 days for freight to move from Asia to North America, reaching an all-time high. A rise in disposable income, and increasing consumer awareness concerning health issues, are further augmenting the demand for Ubiquinone in the US market. A positive outlook towards nutrients owing to the high prevalence of weight management programs, along with cardiovascular diseases, is projected to propel the product demand in the forthcoming period.