Taxifolin Market Size, Share, Growth, and Industry Growth by Type (<95% and ≥95%) By Application (Food & Beverages, Cosmetics, Healthcare, and Agriculture), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Taxifolin Market REPORT OVERVIEW

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The global taxifolin market size was USD 72.71 million in 2021 and market is projected to touch USD 129.33 million by 2031, at a CAGR of 5.93% during the forecast period.

Taxifolin is a flavonoid commonly known as dihydroquercetin. The product is used in a semi-synthetic form.

The different types of flavonoids are used for scientific study as it has anti-allergic, anti-viral, and anti-inflammatory properties. The compound is utilized as an additive food and beverage for such properties, which is expected to drive market growth. It is bitter in taste and aids to soothe the shelf life of food products. The product is used in preventing the spread of cancer cells for its anti-proliferative effects on cancer cells. It has numerous therapeutic effects on the human body and it is a good additive in medical supplements. The rise in population and rapid technology advancements is expected to surge market growth. The product is also used as a health supplement along with vitamin C to boost the immune system. Increased healthcare expenditure is predicted to surge market progress. Huge preferences for health supplements are expected to augment market growth in the upcoming years. On the contrary, stringent regulation associated with the compound and the lack of market players is estimated to hinder market growth in the forthcoming years. Challenges against demand and supply imbalance are predicted to harm market development.

COVID-19 Impact: Development in the Healthcare Sector to Surge Market Growth

During the initial stage of the Coronavirus pandemic, the market witnessed a negative impact. Increased development in healthcare development and huge awareness of the benefits of the product in drug manufacturing fuel market growth.

LATEST TRENDS

"Several Opportunities in Food & Beverages Sector to Drive Market Growth "

The several opportunities in the food & beverages sectors are estimated to drive market growth. The product is usually found in several beverages and also in plant-based such as fruits, wine, tea, vegetables, and cocoa. Further, it is also found in milk thistle seeds and the high adoption of the product in the food and beverage sector is expected to drive market growth.  The presence of taxifolin helps in stabilizing the self-life of food and beverage products. The most application of the product in the food and beverage sector is in dairy, alcoholic beverages, confectionery, and meat processing. Rapid awareness of the product among professionals is predicted to drive market taxifolin market growth in the forthcoming years.

Taxifolin Market SEGMENTATION

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• By Type

Based on type, the market is divided into <95% and ≥95%.

<95% is expected to be the top part of type segmentation

• By Application

Based on the application, the market is divided into food & beverages, cosmetics, healthcare, and agriculture.

Food & beverage is expected to be the top part of application segmentation.

DRIVING FACTORS

"High Adoption in Cancer Research and Development in Healthcare Sector to Stimulate Market Growth"

The increase in the prevalence of cancers and the rapid expansion of the population with a type of cancer is the key factor to drive market growth. The product is used in preventing the spread of cancer cells for its anti-proliferative effects on cancer cells. It has numerous therapeutic effects on the human body and it is a good additive in medical supplements. The rise in population and rapid technology advancements is expected to surge market growth. The product is also used as a health supplement along with vitamin C to boost the immune system. Increased healthcare expenditure is predicted to surge market progress. Huge preferences for health supplements are expected to augment market growth in the upcoming years.

"Good Properties of Taxifolin and Extensive Adoption by Drug Manufactures to Boost Market Progress"

The different types of flavonoids are used for scientific study as it has anti-allergic, anti-viral, and anti-inflammatory properties. The compound is utilized as an additive food and beverage for such properties, which is expected to drive market growth. It is bitter in taste and aids to soothe the shelf life of food products. Further, it is a natural antioxidant that is extensively used by drug manufacturers. Increased demand for the product in cosmetic, personal care, and agriculture sectors are estimated to attract more customers over the estimated period. Improved scope of investment in less-toxic drug development is boosting the opportunities for the market growth

RESTRAINING FACTORS

"Challenges against Demand and Supply by Market Players to Hinder Market Progress "

Stringent regulation associated with the compound and lack of market players is estimated to hinder market growth in the forthcoming years. Challenges against demand and supply imbalance are predicted to harm market development.

Taxifolin Market REGIONAL INSIGHTS

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"Extensive Use of the Product in the Healthcare and Food & Beverage Sector in Asia Pacific to Drive Market Share "

Asia Pacific is estimated to account for the highest taxifolin market share owing to extensive use in healthcare and food & beverage sector. Rapid urbanization and easy availability of raw materials coupled with lower employment costs in the region. Also, substantial growth in various pharmaceutical products coupled with advanced healthcare services. In addition, the huge growth of the population suffering from cancer and high demand for the product in the agriculture sector is anticipated to accelerate market progress. Improved scope of investment in less-toxic drug development is boosting the opportunities for market growth.

North America is pushing to hold a second-largest position in the market growth owing to rapid expansion in the healthcare sector. Ongoing R&D activities and increased investment in cancer research in the region are predicted to drive market progress.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New 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

• Linjiang Jianwei Biotech Co. Ltd (China)
• Ametis JSC (Russia)
• Kalenika Group (Russia)

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.