Taxifolin Market: Russia Became Largest Producer
Fact.MR study on Taxifolin market reveals that the global market revenue is estimated to grow at a CAGR of over 5% between 2019 and 2027. In 2017, the global taxifolin market stood at US$1.4 Bn, where Europe was the largest market. Though the taxifolin market share of APEJ has been growing at a faster pace than other regions owing to the growth in consumption of nutraceuticals and food products containing taxifolin.
[UKPRwire, Tue Jul 16 2019] Fact.MR study on Taxifolin market reveals that the global market revenue is estimated to grow at a CAGR of over 5% between 2019 and 2027. In 2017, the global taxifolin market stood at US$1.4 Bn, where Europe was the largest market. Though the taxifolin market share of APEJ has been growing at a faster pace than other regions owing to the growth in consumption of nutraceuticals and food products containing taxifolin.
This report offers a 10-year forecast (2018–2028) of the global taxifolin market. The global market is estimated to grow at a CAGR of over 5% growing from US$ 1.4 Bn in 2017. Taxifolin with less than
95% purity stands as the largest market. Among applications, taxifolin demand is projected to grow at the fastest pace in food and beverage. The primary objective of the report is to offer updates on advancements in the global Taxifolin market. The increasing necessity to enhance shelf life, and add antioxidant properties to the end-use products has led to a growth in the taxifolin market. The key application areas of Taxifolin includes food and beverages, healthcare, pharmaceuticals and agriculture. Europe has been the largest market for taxifolin, while APEJ leads the market growth. Fact.MR analyses the performance of the Taxifolin market on the basis of global demand and market revenue as this is essential in understanding the future growth potential of the market. This section also includes Fact.MR’s analysis of key trends, drivers, restraints and opportunities that influences the Taxifolin market growth. Impact analysis of key growth drivers and restraints across all major regions, based on the weighted average model, is included in the Taxifolin market report to better equip clients with crystal clear decision-making insights. The market size of Taxifolin has been calculated in terms of value (US$ Mn), and volume (Kg).
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Based on purity level, taxifolin can be classified into less than 95% and greater than or equal to 95%. Taxifoiln with a purity level lower than 95% is expected to account for higher revenue share. However, taxifolin with purity level ≥95% is expected to growth at a faster pace, during the forecast period. There are several applications of taxifolin including dairy products and confectionary where higher purity is required. The growing demand for these products have been translating into the higher growth rate of taxifolin with higher purity level.
APEJ is projected to grow at the fastest pace in the Taxifolin market
Although Europe is the largest taxifolin market, APEJ is anticipated to witness fastest growth during the forecast period. Most of the taxifolin manufacturers are located in Russia and China. It is due to the easy availability of raw materials in these countries. Conifers such as Siberian larch can be commonly found in these countries, thus making them the production hub of taxifolin. Russian government has also been investing in the production of taxifolin, especially in the Magadan region.
New entrants have been specifically been observed to enter in the Chinese market, due to availability of raw material, cheaper labor and high demand. The Taxifolin market in China is also projected to witness the fastest growth during the forecast period. There have been several application among which the Taxifolin demand has been observed to surge significantly in China, including cosmetics. Besides, the surge in investment by public and private sectors in China is encouraging the discovery of drugs with less toxic effect, thus translating into the growth of taxifolin market. Quercetin exists a potent substitute for taxifolin, thus it restraints the market growth to certain extent.
Wide application areas of Taxifolin increases its demand
Taxifolin also known as dihydroquercetin is used in several applications including food and beverages, healthcare, cosmetics, and agriculture. Several studies and research papers prove taxifolin as a potent ingredient for several application areas. Taxifolin is used as an additive for food products as it stabilizes shelf life of the products by 12-36 months. Taxifolin being a natural antioxidant with antibacterial, antimicrobial, and anti-inflammatory properties, its applications has been further expanding. Even the smallest amount of taxifolin is able to prevent oxidative stress and shields the body from free radicals. The demand of taxifolin in food products is projected to grow at the fastest pace during the forecast period. The application areas of taxifolin in food and beverages industry include dairy products, meat processing, alcoholic and non-alcoholic beverages, and confectionary.
The key players in the global taxifolin market includes JW Health Products, Kingherbs Ltd, Kalenika Group, Cayman Chemical, Ametis JSC, Abcam plc, and Adooq Bioscience. There are several other taxifolin providers that include, Linjiang Jianwei Biotech Co. Ltd., and Hangzhou J&H Chemical Co., Ltd.
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