Request FREE sample PDF
Pharmacy benefit management market
NATTOKINASE MARKET REPORT OVERVIEW
The global nattokinase market size was USD 33 million in 2022 and the market is projected to touch USD 52 million by 2029, exhibiting a CAGR of 8.0% during the forecast period.
Food-based nattokinase is a naturally occurring substance. There are several types of nattokinase available, including liquid and powder. It is effective for a long time and has not been shown to have any side effects. It is used to treat a variety of conditions including discomfort, fibromyalgia, CFS, a condition called end uterine fibroids, muscular spasms, cancer, and vitamin-deficient beriberi.
During the projected period, the market is anticipated to be driven by the rising prevalence of chronic diseases including diabetes, cancer, and strokes brought on by changing lifestyles and a lack of physical exercise. This advanced material lowers cholesterol levels in the body and is utilized as an effective food and dietary supplement. Insufficient physical exercise is linked to early mortality, obesity, type 2 diabetes, cardiovascular disease, and some types of cancer. Nattokinase use lowers the prevalence of chronic illnesses.
COVID-19 Impact: Suspended Transportation Activities and Shutdowns to Deplete Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
Prior to COVID-19, manufacturing procedures in a number of industries, including electronics for consumers, aviation, and automobiles were unaffected. The supply chain for nattokinase was unaffected by the fast-growing demand for the drug. The COVID-19 pandemic has significantly impacted the global nattokinase market growth. Every firm was impacted by the pandemic, and the GDP drastically decreased.
As GDP and per capita income declined, people's purchases shifted from health supplements to everyday necessities. Growing demand for nutritional products and consumer health awareness are expected to drive the market for nattokinase. Following the COVID-19 pandemic, it is projected that nattokinase demand will revert to normal, which will result in an increase in nattokinase demand.
LATEST TRENDS
"Streaming Prevalence of Cardiovascular Illnesses to Stimulate Market Development"
Throughout the projected period, the market is expected to be driven by the rising prevalence of cardiovascular illnesses, such as angina, deep vein thrombosis (DVT), high cholesterol, heart disease, stroke, and hypertension. Nattokinase is a potential substitute for the medical management of cardiovascular diseases (CVD). By dissolving blood clots, nattokinase lowers the likelihood of heart disease, improves blood flow, and supports the preservation of an ideal blood vessel structure. Supplemental nattokinase lowers the risk of cardiovascular disorders by having antihypertensive, anti-atherosclerotic, lipid-lowering, antiplatelet, and neuroprotective qualities.
NATTOKINASE MARKET SEGMENTATION
- By Type
Based on Type the global market can be categorized into0-10000 Fu/g, 10001-20000 Fu/g, Above 20001 Fu/g.
- By Application
Based on application the global market can be categorized into dietary supplement, others.
Dietary Supplement: Due to the rising prevalence of various cardiovascular disorders, such as coronary artery disease, stroke, hypertension, elevated cholesterol levels, thrombosis of the deep veins (DVT), and angina, the dietary supplement market is expected to expand quickly. The working population worldwide is not meeting their daily nutritional needs because of their busy schedules and evolving lifestyles.
Others: The food market is anticipated to grow significantly throughout the projection period as a result of growing consumer awareness of the many health advantages of nattokinase-containing foods, including their ability to lower bad cholesterol, boost immunity, and strengthen bones.
DRIVING FACTORS
"Incrementing Consumer Awareness Regarding Health Issues to Support Market Expansion"
In the upcoming years, growing consumer awareness of health issues is projected to drive the market. There are various health issues facing the population in both developed and developing nations. Orally taken, this enzyme is a natural medication with a widely recognized safety profile, an affordable price tag, and unique benefits over other medications.
Customers are experimenting with nutritional and health supplements as they become more health conscious. Nattokinase is easily obtained in different supermarkets and online retailers as tablets, powder, and liquid.
"Demand for Plant-Based Products to Foster Industry Progress"
The market is anticipated to grow over the forecast period due to rising demand for plant-based supplements. The world's vegan and vegetarian populations are expanding at an accelerated rate, which has led to a rise in the market for plant-based supplements. Because it is derived from the soybean dish natto, this enzyme is a plant-based medication that is inexpensive, safe, and helpful in treating heart and circulation conditions.
RESTRAINING FACTOR
"Issues to Nursing Mothers to Stop Market Evolution"
The "blood thinner" impact of nattokinase as well as bleeding problems are special warnings and precautions. The enzyme is likely to lower blood pressure, which is concerning if blood pressure has become abnormally low. It is anticipated that this advanced material will cause issues for nursing mothers or expectant mothers. Furthermore, during the projected period, the market's expansion is anticipated to be hampered by a dearth of reliable information regarding nattokinase.
NATTOKINASE MARKET REGIONAL INSIGHTS
"North America Domination on the Industry Attributed to Incidences of Chronic Illnesses "
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
North America is anticipated to lead the nattokinase market share over the projected period as a result of factors including a growing number of people with hypertension and a rising incidence of chronic illnesses as a result of changing lifestyles.
Furthermore, it is anticipated that rising consumer knowledge of nattokinase's health advantages in this area will support the market for nattokinase supplements there. Throughout the projection period, the US is expected to have a sizable share of the market. The main drivers propelling the market in the nation are the rising incidence of cardiovascular illnesses, the increasing spending of major players, the rise in regulatory approvals, and the rise in allergies that are seasonal such sinus and blood clots.
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 of 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 portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Japan Bio Science Laboratory (Japan)
- Daiwa Pharmaceutical (Japan)
- Contek Life Science (China)
- Sungen Bioscience (China)
- Eiffel Biotech (China)
- Vedan Biotechnology (China)
INDUSTRIAL DEVELOPMENT
July 2023: A collaboration between Sungen Bioscience Co., Ltd. and Shenyang Pharmaceuticals University was established in July 2023 with the aim of creating an innovative oral preparation and injectable of biologic nattokinase.
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 33 Million in 2022 |
Market Size Value By |
US$ 52 Million by 2029 |
Growth Rate |
CAGR of 8% from 2022 to 2029 |
Forecast Period |
2022-2029 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
-
What value is nattokinase market expected to touch by 2029?
The global nattokinase market is expected to reach USD 52 million by 2029.
-
What CAGR is the nattokinase market expected to exhibit by 2029?
The nattokinase market is expected to exhibit a CAGR of 8.0% by 2029.
-
Which are the driving factors of the nattokinase market?
Incrementing consumer awareness regarding health issues and demand for plant-based products are some of the driving factors of the nattokinase market.
-
What are the key nattokinase market segments?
The nattokinase market segmentation that you should be aware of, which include, Based on type the nattokinase market is classified as 0-10000 Fu/g, 10001-20000 Fu/g, Above 20001 Fu/g. Based on application the nattokinase market is classified as dietary supplement, others.