Demand For Taxifolin Is Set To Stabilize Market Prices Over 2030
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.
- Food & Beverages
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa
Global Taxifolin Market Manufacturers: Key Strategies
The global taxifolin market is fairly consolidated in nature. JW Health Products, Kingherbs Ltd, Kalenika Group, Ametis JSC, and Abcam plc are among the tier-1 players. According to Fact.MR estimates, together, they are projected to account for more than 45% of the global market share in 2020.
Key manufacturers are observed to be involved in extensive research, product development, and collaborations with pharmaceutical/API manufacturers to enhance their market share. Key companies in the market are involved in conservative market play approach, and are looking to enhance the purity of the product at lower costs.
Regional Outlook of Taxifolin Market
Europe accounted for the largest taxifolin market share in 2019, but is set to lose some of its market share (3%) by the end of 2030. North America is set to overtake the Europe market by the mid-term forecast period. Rise in consumption of taxifolin in the United States is mainly due to increasing pharmaceutical production in the region.
However, the COVID-19 pandemic has restricted the trade of taxifolin across the global market, disrupting the overall supply chain. Reopening of markets across the globe, especially in the United States, is set to revive the growth of the taxifolin market.