Anticipated Price Surge of CoQ-10 Reflecting Industry Resilience in March 2024
Anticipated Price Surge of CoQ-10 Reflecting Industry Resilience in March 2024

Anticipated Price Surge of CoQ-10 Reflecting Industry Resilience in March 2024

  • 08-Mar-2024 2:49 PM
  • Journalist: Harold Finch

The American market demonstrated a notable uptrend in Nutraceutical market including the improved consumption of downstream product including CoQ-10 from end-users. This upward trajectory was primarily attributed to the rise in imports from Asia and increased demand from end-users, creating a favorable environment for local suppliers to capitalize on this thriving market by implementing upward adjustments in CoQ-10 prices across the region. North America being a major importer heavily reliant on China and other nations, grappled with supply chain disruptions and increased freight charges since past months, contributing to the escalation in CoQ-10 prices.

The CoQ-10 market in China, on the other hand, exhibited relative stability during this period, largely influenced by the observance of Lunar New Year's Eve, which resulted in the market remaining relatively subdued. As a result, this Lunar New Year shutdown resulted in temporary supply chain disruptions as factories utilize this as an opportunity and go under maintenance. Supporting to this, various market experts stated that China planned plant maintenances from staring February for various nutraceutical products including Vitamin E (Natural & Synthetic), Vitamin D3, Biotin, CoQ-10, and Levofloxacin which is expected to continue until Mid-March. This further resulted in labor shortages which additionally affects the overall supply activity thereby resulting in delayed shipments or consignments.

Consequently, traders in importing nations primarily the United States region redirected their procurement strategies at a higher level and started preparing the goods before the holiday season. Concurrently, ongoing disputes among traders on the global stage continued to impact market dynamics, contributing to a sustained surge in CoQ-10 prices throughout the week. Despite the prevailing challenges and uncertainties, the actual transaction conditions remained robust, marked by a consistent influx of downstream inquiries for CoQ-10. This reaffirms the resilience and strength of the CoQ-10 market, indicating its ability to navigate through external factors and maintain positive momentum in the face of varying global market conditions.

In terms of supply side, when compared to the previous month, the inventories for CoQ-10 among the merchants however were enough to cater the overall regional demand arrived during the entire month. While on the other side, owing to limited or delayed arrival of consignments and continuous rise in new orders across the region, kept traders to considerably place CoQ-10 quotations to prevent the future shortages as inquiries are likely to remain uplifted even in the forthcoming period a swell. Lastly Overall, prices of CoQ-10 are anticipated to continue increasing in March 2024 as demand from the downstream supplements and nutraceutical industry is likely to strengthen.

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