Ergothioneine [EGT] Market Size, Share, Growth, and Industry Growth by Type (Chemical synthesis Method, Fermentation Method, and Other), By Application (Medical, Food, and Cosmetics), Regional Forecast To 2031

Updated On: 22 April 2024

Ergothioneine [EGT] Market REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

global ergothioneine [egt] market size was USD 20 million in 2021 and market is projected to touch 439.34 Million by 2031, exhibiting a CAGR of 36.2% during the forecast period.

Ergothioneine is a naturally occurring antioxidant and amino acid derivative that is found in some species of fungi and bacteria. It was first discovered in the early 20th century and has since been studied for its potential health benefits. Ergothioneine is a thioneine derivative that is structurally similar to amino acids such as histidine and cysteine. It is a small, water-soluble molecule that can easily pass through cell membranes and reach different parts of the body.

Ergothioneine has been shown to have strong antioxidant activity, meaning it can help to protect cells from damage caused by harmful molecules known as free radicals. This may help to reduce the risk of chronic diseases such as cancer, heart disease, and Alzheimer's disease. It also has been shown to have anti-inflammatory properties, which can help to reduce inflammation in the body. Chronic inflammation is associated with a wide range of diseases, and ergothioneine may help to reduce the risk of these diseases by reducing inflammation.

COVID-19 Impact: Health Benefits Boosted Market Demand.

COVID-19 had a life changing impact globally. The global ergothioneine market share was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for ergothioneine experienced an increased demand.

The COVID-19 pandemic has had a mixed impact on the ergothioneine market. The pandemic has also disrupted the global supply chain for ergothioneine. The compound is primarily produced by a few manufacturers, and the disruption of transportation and trade has led to shortages and delays in the supply of this compound.

However demand for this compound has increased due to its potential health benefits. One of the main drivers of increased demand for ergothioneine during the pandemic has been its potential as an immune system booster. Some studies have suggested that ergothioneine may have antiviral properties and could help to boost the immune system, making it an attractive supplement for those looking to improve their overall health and immunity. However, as the pandemic subsided the global ergothioneine market share is anticipated to show

LATEST TRENDS

"Consistent R&D to Benefit Market Prospects"

There has been ongoing research into the potential health benefits of ergothioneine, particularly in the areas of anti-aging, skin health, and immune system support. This research is helping to drive interest in this compound and its potential applications. Ergothioneine has traditionally been used in dietary supplements and skincare products. However, there is growing interest in the use of this compound in other applications, such as food and beverage additives and pharmaceuticals.

In 2020, the European Union approved the use of ergothioneine as a novel food ingredient, opening up new opportunities for its use in food and beverage products. Companies in the ergothioneine market are forming partnerships and collaborations to expand their product offerings and reach new markets. For instance, in 2021, ingredient supplier Kappa Bioscience announced a partnership with BASF to distribute its K2Vital vitamin K2 ingredient alongside ergothioneine. These developments are expected to boost the global ergothioneine market share.

Ergothioneine [EGT] Market SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type

Based on type, the market is divided into Chemical synthesis Method, Fermentation Method, and Other.

• By Application

Based on application, the market is bifurcated into Medical, Food, and Cosmetics.

DRIVING FACTORS

"Demand for Natural Supplements to Boost Market Share "

Consumers are increasingly seeking out natural and plant-based ingredients in their dietary supplements and skincare products. Ergothioneine, which is found naturally in certain types of mushrooms and other fungi, fits this trend and is becoming an increasingly popular ingredient in these products. There is growing interest in the use of ergothioneine as a food and beverage additive, due to its antioxidant properties and potential health benefits. This is opening up new markets for ergothioneine and driving demand for this compound.

"Healthcare Benefits to Boost Market Size"

Ergothioneine has been linked to several potential health benefits, including antioxidant and anti-inflammatory properties, as well as potential benefits for skin health, immune system support, and cognitive function. As research into these potential benefits continues, demand for ergothioneine is expected to grow. Technological advancements in the extraction and purification of ergothioneine from natural sources such as mushrooms have improved the quality and purity of this compound, while reducing the cost of production. These latest developments are anticipated to boost the global ergothioneine market share.

RESTRAINING FACTORS

"Lack of Awareness to Hamper Market Share"

Despite growing interest in ergothioneine and its potential health benefits, many consumers and manufacturers are still not aware of this compound or its applications. This can limit demand and adoption, particularly in new and emerging markets. Ergothioneine is found naturally in only a few sources, primarily mushrooms and some microorganisms. This limited availability can create supply chain challenges and make it difficult for manufacturers to source sufficient quantities of this compound. Hence these factors might impediment the growth of the global ergothioneine market share.

Ergothioneine [EGT] Market REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"Asia-Pacific Dominates the Ergothioneine Market"

APAC is the major shareholder for the global ergothioneine market share. This due to the increasing demand for natural and plant-based ingredients in dietary supplements and skincare products. This region is key due to its large population, increasing middle class, and growing interest in health and wellness products. Europe is the second major shareholder for the global ergothioneine market share.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Mironova Labs [U.S.]
• Tetrahedron Laboratories [India]
• Blue California [U.S.]
• Aktin Chemicals Inc. [China]
• Xi'an Sobeo Biotech Co Ltd [China]
• Bloomage Biotechnology Co Ltd [China]
• Tianjin Sinonocy Biological Technology Co .Ltd [China]
• Taizhou Tianhong Biochemical Technology Co. Ltd [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.