Phloretin Market Size, Share, Growth, and Industry Growth by Type (98% Phloretin and Others) By Application (Personal Care, Food Additives, and Other Applications), Regional Insights, and Forecast From 2023 To 2031

Updated On: 11 September 2023

Phloretin Market REPORT OVERVIEW

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The global phloretin market size is estimated to be USD 6 million in 2022. As per our research, the market is projected to touch USD 12.28 million by 2031, exhibiting a CAGR of 7.1% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with phloretin experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Phloretin is a solid white powder. It is a type of natural phenol, and it has a dihydrochalcone. The chemical formula of the organic compound is C15H14O5. The product is found in the peels and roots of juicy fruits such as pear and apple. The organic compound has an antioxidant and moisturizing factor widely used in cosmetics. The compound belongs to 2-hydroxy-dihydrochalcones.

Increasing adoption of the organic compound in the cosmetic industry is expected to fuel market growth. Growing awareness about the health benefits of the product among consumers is projected to drive market growth. Increasing disposable income of consumers is predicted to surge market growth. Rising demand for organic cosmetics is estimated to propel market growth. Increasing demand for food additives is projected to drive market growth during the forecast period.

COVID 19 Impact: Closer of Cosmetic Industry to Hamper Market Expansion

An outbreak of COVID-19 pandemic impacted market growth. Shutdown of cosmetic industry reduced product demand. Social distance protocols and working from home culture hampered product adoption. Lower demand for beauty products during pandemic reduced market growth. Further, several industries were closed and lack of labor or employee due to lockdown restriction halted product demand. The market witnessed supply and chain disruption. Strict government regulations to control spreading of diseases halted manufacturing of the product.

On the contrary, post COVID-19 the market is expected to show considerable market growth due to reopening of beauty industries. Reopening of malls and beauty clinics is estimated to boost product adoption.

LATEST TRENDS

"Growth in Cosmetic Industry to Incite Market Expansion "

Growing demand from cosmetic industry is expected to accelerate market growth. Increasing demand for organic cosmetics is predicted to boost product adoption. Increasing demand from cosmetic product containing phloretin as an active ingredient is estimated to surge market growth. Rising awareness about anti-aging products is projected to drive market growth. Further, a large number of drugstores selling beauty and skincare products is anticipated to surge in product adoption. Growing development in cosmetic industry is predicted to accelerate market growth. Increasing number of clinical studies is estimated to increase market growth during the forecast period. Growing awareness to reduce the appearance of discoloration in the skin is projected to surge product demand. Increasing need to improve the appearance of fine lines and wrinkles is anticipated to stimulate phloretin market growth. 

Phloretin Market SEGMENTATION

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• By Type

On the basis of type, the market is classified 98% phloretin and others.

98% phloretin is estimated to be leading part of segmentation type.

• By Application

Based on application, the market is classified into personal care, food additives, and other applications.

Personal care is estimated to be leading part of the application segment.

DRIVING FACTORS

"Growing Food Processing to Foster Market Growth "

Increasing food processing in the food industry is expected to surge market growth. Growing demand for fruit juices is estimated to boost product adoption. Rising adoption of peeling fruits and vegetables in food industries is projected to drive market growth. Increasing demand for antioxidants in vitamin C products is estimated to surge market growth. Increasing adoption of red and white wine among consumers is predicted to grow product demand for its sweetener property is estimated to boost market growth. Growing adoption of organic compounds in food processing method is expected to accelerate market growth. Growing demand for strong antioxidants in fruits is predicted to increase phloretin market growth.

"Increasing Demand for Grooming to Incite Market Growth"

Rising demand for grooming among millennials is expected to accelerate market growth. Higher demand for skin repairing treatment is estimated to boost product adoption. Increasing demand for developing natural-component products is projected to drive market growth. Growing research and development activities in pharmaceutical application is predicted to accelerate market growth. Further, physician and dermatologist advice phloretin presence product which is anticipated to accelerate phloretin market growth during the forecast period.

RESTRAINING FACTORS

"Skin Irritation Associated with Product to Hamper Market Growth"

Increasing chances of skin irritation associated with the product is expected to reduce market growth. Higher demand for physician advice is estimated to reduce product demand during the forecast period. Lack of awareness is projected to hamper market growth.

Phloretin Market REGIONAL INSIGHTS

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"Growth in Cosmetic Industry in North America to Drive Market Share "

North America is expected to hold largest part of phloretin market share due to increasing demand for cosmetic products containing phloretin. Growing disposable income in the region is estimated to surge market growth. Rising awareness about anti-aging products is predicted to propel market growth. Presence of beauty industries in the region is estimated to increase market growth during the forecast period. Increasing number of population depending on skin care products is projected to drive market growth. Large number of drugstores that sell beauty and skin care items is predicted to surge market growth.

Europe is estimated to show considerable market growth due to increasing disposable income. Growing awareness about anti-aging products among consumers is predicted to fuel market growth. Rising demand for food additives in the region is predicted to propel phloretin market growth.

Asia Pacific is predicted to show significant market growth due to presence of cosmetic manufactures. Increasing adoption of organic ingredients in the food formulation process is predicted to boost product adoption. Presence of anti-inflammatory properties in the product is projected to drive market growth during the forecast period. Presence of market players in the region is estimated to fuel market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Golden Health Technology (China)
• Xian Lyphar Biotech (China)
• Shaanxi Yi An (China)
• Shananxi Huike (China)
• Shaanxi Undersun Biomedtech (China)
• Xian Day Natural (China)
• Zhejiang Skyherb Ingredients (China)
• Jinan Prosweet Biotechnology (China)
• Huatai Bio-fine (China)
• Shananxi Green Bio-Engineering (China)
• Jiangsu Boyi (China)
• HJ-Rise (Taiwan)
• HBXIAN

REPORT COVERAGE

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