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.
Rockville Pike, MD -- (SBWIRE) -- 05/17/2019 -- Taxifolin production has been increasing per year, though the demand-supply gap exists. It is owing to the skyrocketing demand of taxifolin across several applications including food and beverages, healthcare, cosmetics and agriculture. Europe stands as the largest taxifolin market, followed by North America. However, the taxifolin market is projected to grow at the fastest pace in APEJ region, owing to the fast paced population growth that have requirement of these applications.
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This report offers a 10-year forecast (2018–2028) of the global taxifolin market. The global market is estimated to grow at a CAGR of over 5% growing from US$ 1.4 Bn in 2017. Taxifolin with less than 95% purity stands as the largest market. Among applications, taxifolin demand is projected to grow at the fastest pace in food and beverage.
Increasing applications of Taxifolin increases its market value
The availability of several research papers that claim taxifolin as a potent ingredient across several applications, have boosted its demand. The antibacterial, antimicrobial, and anti-inflammatory properties of taxifolin has been augmenting its demand across several application areas including food and beverages, healthcare, and agriculture. The smallest volume of taxifolin produces significant effect as it helps in combating oxidative stress and protects the body from free radicals.
Food and beverages and healthcare are the two key application areas of taxifolin, which together generates over 60% of the total demand. In food and beverages sector, the taxifolin demand has been increasing significantly in dairy products, alcoholic and non-alcoholic beverages, meat processing, and confectionary.
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Taxifolin market featured by low intensity of competition
There are moderate number of players operating in the taxifolin market, though the competition remains low. The taxifolin manufacturers have also been targeting to increase the number of their customers. Raw materials costs features as the larger part of the operating costs in the taxifolin market. Another important area of investment in the taxifolin market includes research and development activities. One of the key hurdles for the new entrants in the taxifolin market is obtaining certification for manufacturing. There are several unorganized manufacturers of taxifolin that offer sub-standard product. This to some extent has eroded the trust of several customers.
In the U.S. market, Taxifolin with Generally Recognized as Safe (GRAS) certification holds high importance. Some of the leading players in the taxifolin market have acquired patented technologies that they highlight as their unique selling proposition. The taxifolin manufacturers also focus on reducing the manufacturing lead time with the help of latest technologies.
The key players in the global taxifolin market includes JW Health Products, Kingherbs Ltd, Kalenika Group, Cayman Chemical, Ametis JSC, Abcam plc, and Adooq Bioscience. There are several other taxifolin providers that include, Linjiang Jianwei Biotech Co. Ltd., and Hangzhou J&H Chemical Co., Ltd.
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