For the Quarter Ending September 2025
North America
• In USA, the CoQ10 Price Index fell by 5.34% quarter-over-quarter, reflecting oversupply and weak demand.
• The average CoQ10 price for the quarter was USD 151288/MT on CIF Los Angeles basis.
• CoQ10 Spot Price remained volatile through September as warehouse congestion pressured the Price Index downward.
• CoQ10 Price Forecast anticipates modest recovery if Asian export flows tighten and restocking sustains momentum.
• CoQ10 Production Cost Trend remained stable as feedstock and utilities showed no major cost escalation.
• CoQ10 Demand Outlook improved into September driven by seasonal nutraceutical restocking and premium formulation interest.
• High imports and inventories kept the CoQ10 Price Index pressured until demand or logistics reversed.
• New tariffs and compliance enforcement raised landed costs, compressing margins and tightening supply for buyers.
Why did the price of CoQ10 change in September 2025 in North America?
• Abundant imports and drawn-down inventories earlier in quarter created oversupply, pressuring prices through September end.
• Tariff changes, higher compliance and shipping costs raised landed expenses, reducing supplier willingness to discount.
• Renewed seasonal restocking by nutraceuticals and selective exporter allocations tightened near-term availability, supporting price stabilization.
APAC
• In China, the CoQ10 Price Index fell by 4.71% quarter-over-quarter, reflecting oversupply and weak exports.
• The average CoQ10 price for the quarter was approximately USD 151187.67/MT, weighted Ex-Shanghai FOB sales.
• CoQ10 Spot Price showed intermittent firming as opportunistic buying cleared discounted inventories, tightening visible offers.
• CoQ10 Price Forecast indicates near-term stabilization as logistics improvements and balanced production support upward pressure.
• CoQ10 Production Cost Trend showed easing raw material costs earlier, pressured by higher energy surcharges.
• CoQ10 Demand Outlook remains mixed with nutraceutical restocking but muted bulk contracting from Western buyers.
• Inventory builds and competitive FOB selling pressured the CoQ10 Price Index despite occasional spot purchases.
• Major Chinese producers maintained rates but trimmed runs to protect margins, limiting exportable CoQ10 volumes.
Why did the price of CoQ10 change in September 2025 in APAC?
• Oversupply and comfortable warehouse inventories reduced seller leverage, driving downward pressure on CoQ10 export price levels.
• Weaker offshore tenders and cautious procurement from EU and US buyers curtailed bulk contracting demand significantly.
• Easing raw material costs and improved port logistics removed cost support, enabling sellers to offer competitive FOB discounts.
Europe
• In Germany, the CoQ10 Price Index fell by 4.95% quarter-over-quarter, reflecting inventory overhang and weak demand.
• The average CoQ10 price for the quarter was approximately USD 151292.33/MT based on CFR Hamburg settlements.
• Short-term CoQ10 Spot Price volatility reflected intermittent supply constraints and sporadic restocking by nutraceutical manufacturers.
• Market commentary implies a cautious CoQ10 Price Forecast, with seasonal demand insufficient to absorb elevated inventories.
• CoQ10 Production Cost Trend remained stable as feedstock availability and energy costs eased in producing regions.
• CoQ10 Demand Outlook weakened amid cautious procurement, subdued retail promotions, and muted pharma-nutra offtake across Europe.
• Export availability and logistics stability influenced the CoQ10 Price Index, moderating sudden spikes despite restocking.
• Inventories and importer selling drove downward pressure late September, constraining near-term CoQ10 Price Forecast revisions.
Why did the price of CoQ10 change in September 2025 in Europe?
• Persistent inventory overhang from earlier stock builds reduced spot buying, pressuring import price levels regionally.
• Eased production costs and stable shipping reduced landed costs, enabling suppliers to offer competitive quotations.
• Soft pharmaceutical and nutraceutical procurement, plus weak macro indicators, constrained demand, amplifying downward price momentum.
For the Quarter Ending June 2025
North America
• The North American CoQ10 Spot Price demonstrated an overall downward trend in Q2 2025, with an average decline of 1.65%, closing June at approximately USD 152243/MT CIF-Los Angeles. The trend was primarily driven by a sustained oversupply and reduced downstream restocking activity.
• The CoQ10 Production Cost Trend within the quarter second remained stable, but competitive Asian imports with lower landed costs, aided by a stronger U.S. dollar, exerted deflationary pressure on domestic and offshore offers.
• The CoQ10 Demand Outlook within the quarter second remained weak due to cautious procurement across pharmaceutical and nutraceutical segments, as distributors delayed restocking amid high inventory levels and no immediate retail uptick.
• June 2025 saw CoQ10 Spot Prices at their quarterly low, with final-week values near USD 152243/MT, reflecting heavy inventory liquidation and stagnant buyer sentiment despite stable logistics.
• Traders adopted thinner margin strategies to de-risk aging stock, while consistent Asian output created a buyer-friendly import landscape with no major logistical bottlenecks.
• Importers reported minimal forward bookings, and Q3 intake is expected to be conservative unless retail or formulation demand strengthens significantly.
• CoQ10 Spot market inquiries declined steadily throughout the quarter, with transactional volumes increasingly tied to existing long-term contracts rather than open bidding.
• Buyers focused on running down warehouse stock rather than engaging in new tenders, reinforcing a lack of price-supportive behavior across downstream channels.
• Despite CoQ10 demand headwinds, some formulators began evaluating Price Forecast for next quarter, with expectations of mid-Q3 stabilization contingent on inventory corrections and possible East Asian supply adjustments.
• Overall, North America’s CoQ10 market reflects a rebalancing phase, with price recovery unlikely without a disruptive trigger on either the supply or demand axis.
Asia-Pacific (APAC)
• The APAC CoQ10 Spot Price trend was downward through Q2 2025, with an average price contraction of 1.72%, and June values landing near USD 152000/MT Ex-Shanghai. Persistent oversupply and stagnant overseas demand eroded market valuations.
• The Production Cost Trend within the quarter second remained mostly subdued due to soft feedstock prices, but profit margins thinned amid aggressive price undercutting between regional exporters, especially in China.
• The CoQ10 Demand Outlook within the quarter second weakened across domestic and international fronts, as downstream buyers adopted defensive purchasing strategies due to economic uncertainty and regulatory headwinds.
• By June 2025, export offers saw intensified price competition, with sellers prioritizing liquidity over profitability to manage elevated warehouse inventories.
• Chinese exporters faced consistent price pressure from Indian suppliers, while buyers from Europe and North America increasingly shifted to spot-based procurement rather than bulk forward contracts.
• Even with steady fermentation output, the market struggled with weak offtake, leading to speculative inventory rerouting toward Southeast Asia and LATAM to offset slow-moving primary trade routes.
• Seasonal CoQ10 demand recovery failed to materialize, and sellers responded by scaling down batch sizes and tightening production cycles to mitigate further margin erosion.
• Despite momentary upward movements in late May driven by pre-holiday stocking, the broader market failed to sustain bullish sentiment due to global supply saturation.
• Projections for the CoQ10 Price Forecast for next quarter indicate a potential for marginal rebound only if upstream input prices harden or regulatory constraints tighten production volumes.
• Overall, the APAC market is expected to remain price-sensitive in Q3 2025, with structural oversupply and volatile buyer behavior continuing to shape the trading environment.
Europe
• The European CoQ10 Spot Price followed a downward trajectory in Q2 2025, with a decrease of 1.70%, ending June near USD 152112/MT CFR Hamburg amid sluggish downstream demand and inventory overhang.
• The CoQ10 Production Cost Trend within the quarter second benefited from lower energy prices and reduced freight costs from Asia, enabling German importers to access lower-cost CoQ10 materials.
• The CoQ10 Demand Outlook within the quarter second remained tepid across the pharmaceutical and dietary supplement sectors, as formulators focused on inventory reduction and refrained from initiating new tenders.
• June 2025 saw significant price depreciation, especially in Germany, where high storage costs forced sellers to offload material at reduced margins, reinforcing bearish sentiment.
• European buyers largely depended on stockpiles accumulated in April and May, leading to lean purchasing and a slowdown in fresh contract negotiations.
• CoQ10 spot prices remained under pressure as Chinese and Indian exporters continued offering at discounted rates, further undermining the region’s capacity to support a price floor.
• Market participants expressed concern over the volume of deferred contracts, which created backlogs and liquidity bottlenecks for key importers.
• Export pressure from Asia intensified due to slower North American intake, causing a spillover effect that flooded European ports with surplus inventory.
• The CoQ10 Price Forecast for next quarter suggests prices may stabilize if demand revives ahead of Q4 formulation cycles, but near-term recovery remains conditional on deeper inventory drawdowns.
• With no major disruptions in shipping or customs clearance, Europe’s CoQ10 market remains oversupplied and buyer-driven, awaiting stronger macroeconomic signals to shift pricing dynamics.
For the Quarter Ending March 2025
North America
During the first quarter of 2025, the Coenzyme Q10 (CoQ10) market in North America followed a progressively upward pricing trend, influenced by a convergence of macroeconomic adjustments, trade policy changes, and evolving downstream sector demand. In January, prices experienced steady increases as pharmaceutical, nutraceutical, and cosmetic industries ramped up procurement activities, partly driven by heightened holiday season consumption and precautionary buying in anticipation of new regional trade regulations.
The announcement of additional import tariffs on selected Asian-origin chemical products amplified inflationary pressures within the market, prompting distributors and buyers to advance their purchasing cycles to avoid impending cost escalations. This speculative buying activity strengthened the market’s bullish sentiment. In February, pricing pressures persisted despite relatively balanced trading activity and inventory levels. A newly enforced 10% tariff on imports from key manufacturing hubs, alongside a sharp increase in ocean freight rates to both eastern and western coasts, kept import costs elevated, which translated into higher market prices.
By March, prices maintained their upward momentum, supported by improving consumer sentiment and modest inflationary relief. Additionally, the depreciation of the regional currency against major exporting nations’ currencies compounded import costs, contributing to the bullish pricing climate. Overall, Q1 2025 concluded with sustained CoQ10 price increases in North America, steered by resilient downstream demand, escalated import expenses, and tactical purchasing behaviours in response to evolving trade frameworks and macroeconomic shifts.
Asia Pacific
Throughout the first quarter of 2025, the Coenzyme Q10 (CoQ10) market in the Asia Pacific region navigated a dynamic pricing environment shaped by seasonal manufacturing cycles, shifting international demand trends, and broader economic adjustments. In January, market prices held firm, supported by sustained domestic and export-oriented production activities as regional manufacturing sentiment remained positive. Seasonal festivities during this period, coupled with logistical challenges and temporary factory shutdowns in several areas, created short-lived supply constraints, providing limited upward price support.
However, as February commenced, prices experienced slight corrections amid softening international demand, notably from North American and European markets. The post-holiday production resumption led to a swift increase in capacity utilization rates, which, in combination with modest downstream inquiries, resulted in excess supply and contributed to moderate downward pricing pressure. This trend was temporary, as by March, renewed buying interest from key international markets revitalized overall sentiment within the region.
Export demand, particularly from pharmaceutical and nutraceutical sectors abroad, drove manufacturers to align production schedules with surging overseas requirements. While domestic consumption remained stable, the resurgence in international orders prompted price recoveries toward the quarter’s end. Consequently, the Asia Pacific CoQ10 market concluded Q1 2025 with marginal net gains, reflecting a complex interplay between seasonal production adjustments, inventory repositioning, and fluctuating export demand patterns.
Europe
In Europe, the Coenzyme Q10 (CoQ10) market exhibited a generally upward pricing trend across the first quarter of 2025, primarily propelled by consistent demand from the pharmaceutical and nutraceutical industries, coupled with favourable foreign exchange movements and gradually improving logistical conditions. During January, market prices remained relatively stable, supported by steady downstream procurement and moderate inventory positions among distributors and importers. Despite ongoing logistical disruptions and fluctuating exchange rates, the market maintained a balanced position as downstream demand held firm.
By February, pricing began to reflect gradual increases as inquiries from key buyers intensified. Manufacturers and procurement specialists strategically augmented their purchasing volumes to shield against expected cost escalations linked to international trade policy changes and persistent supply chain constraints. In March, the market experienced notable upward momentum as downstream demand surged, particularly from pharmaceutical and supplement manufacturers preparing for second-quarter consumption peaks. Although a slight decline in freight rates partially eased import costs, global price firming driven by higher raw material expenses continued to exert upward pressure on European market prices.
Additionally, the strengthening of the regional currency against the U.S. dollar enhanced import competitiveness but did not fully counterbalance the broader inflationary effects of rising international product costs. As Q1 2025 concluded, European CoQ10 prices reflected a clear net increase, driven by resilient demand fundamentals, improving logistics, and advantageous currency positioning amidst a globally tightening supply environment.
For the Quarter Ending December 2024
North America
During the entire the fourth quarter of 2024, the U.S. CoQ-10 market exhibited marked bearish trends, driven by weak demand and ongoing manufacturing contraction in end-user sectors. The market remained well supplied, with minimal disruptions to the supply chain and cautious purchasing from downstream buyers. Efforts to stimulate demand through price reductions were largely ineffective, as sales volumes stayed low and inventory levels remained sufficient. Smaller market players faced growing pressures, leading to increased consolidation as larger firms made moves to acquire or absorb them. A notable supply surplus emerged, further exacerbating the downturn. Suppliers adopted aggressive pricing strategies, offering discounts to manage excess stock. While manufactures across the region showed flexibility in negotiations for future orders, reflecting the challenges in predicting demand shifts. The combination of weak demand and oversupply created a complex trading environment, underscoring a market in decline as it struggled to adapt to broader economic pressures.
Asia Pacific
The CoQ10 market in China during Q4 2024 exhibited complex dynamics, influenced by economic conditions and supply-demand factors. In October, the market remained stable, with prices holding steady from previous periods due to consistent demand and upstream conditions. The temporary slowdown from the Golden Week holiday helped maintain equilibrium. Demand was generally stable but weakened slightly due to global economic challenges, which impacted consumer sentiment and led to more cautious procurement, especially in key regions. In November, post-holiday operations saw a modest rise in procurement, driven by preparations for the winter season. However, increasing supply-side pressures, including elevated inventory levels and plant shutdowns, weighed on the market. The appreciation of the yuan also mitigated price increases, benefiting importers. By December, demand from both regional and international nutraceutical sectors slowed, worsening the oversupply situation. With economic uncertainties, consumer purchasing remained conservative, prompting price declines as suppliers aimed to clear excess stock. This resulted in declining transaction volumes and continued bearish conditions, reflecting earlier market trend as December concludes.
Europe
Following a similar market trend as that of other importing nations, during the entire Q4 of 2024, Germany's CoQ-10 export market experienced sustained price declines, primarily driven by weak downstream demand and an unfavorable cost environment. The downstream Nutra and supplement sector, a key consumer, exhibited majorly reduced procurement activity as buyers prioritized essential purchases and maintained minimal inventories. The euro's depreciation further compounded challenges, raising the cost of imports and dampening new orders, which reinforced bearish market sentiment. However, the manufacturing sector showed modest signs of recovery, with the Manufacturing PMI increasing from 40.6 in September to 43 in October, signaling a less severe contraction. Despite this, the global competition intensified as APAC exporters benefited from lower feedstock costs, including declining CoQ-10 prices, exerting downward pressure on the overall production of CoQ-10 exp in key producing regions which has a direct impact on Germany's import prices. As a result, persistent high inventory levels, combined with restrained purchasing activity, led to oversupply, prompting suppliers to adopt aggressive pricing strategies to clear stock. Lastly, despite seasonal disruptions such as port delays and labor shortages, the muted demand largely mitigated their impact. By December, the market was firmly in buyers' favor, with suppliers relying on price reductions and flexible strategies to manage oversupply the overall import prices for CoQ-10.
