Taxifolin Market to Witness Increase in Revenues by 2018 to 2027

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.

Wide application areas of Taxifolin increases its demand

Taxifolin also known as dihydroquercetin is used in several applications including food and beverages, healthcare, cosmetics, and agriculture. Several studies and research papers prove taxifolin as a potent ingredient for several application areas. Taxifolin is used as an additive for food products as it stabilizes shelf life of the products by 12-36 months. Taxifolin being a natural antioxidant with antibacterial, antimicrobial, and anti-inflammatory properties, its applications has been further expanding. Even the smallest amount of taxifolin is able to prevent oxidative stress and shields the body from free radicals. The demand of taxifolin in food products is projected to grow at the fastest pace during the forecast period. The application areas of taxifolin in food and beverages industry include dairy products, meat processing, alcoholic and non-alcoholic beverages, and confectionary.

The other application areas of taxifolin includes cosmetics, cosmetics and agriculture. As a health supplement, the use of taxifolin based supplements has been observed to surge among the sportspeople. Especially during eth competition period, when the athletes need to perform beyond their regular limits, taxifolin is very useful as it boosts the cardiovascular system to bear the exercise load. In agriculture, taxifolin is used to boost plant growth. Several other health benefits associated with taxifolin includes protection of capillary and liver. The demand for cosmetics has been growing globally due to the up-liftment in consumers’ lifestyles.

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Europe Stands as the Largest Taxifolin Market

Europe, especially Russia have been the largest producer of taxifolin, which is due to availability of conifers including Siberian larch, which is the key raw material for the manufacturing of taxifolin. Russia has one of the largest naturally available volumes of Siberian larch, with an estimated 60 Bn cubic meters. Dahurian larches is another raw material for taxifolin. The global demand of Taxifolin is many time more than its present supply, which has kept the prices significantly elevated. The Taxifolin prices also vary largely among the regions due to several factors including the availability of raw materials, processing companies and regional demand level. Though, the demand supply gasp has been narrowing down with the involvement of more number of companies into this business.

Low degree of competition in taxifolin market

The degree of competition is low in the taxifolin market, with the presence of fair number of players. Due to high demand and lower supply, all of the taxifolin volume that is produced is consumed, therefore each of the competitors have their defined set of customers. The taxifolin providing companies have also been increasing the number of their customers with the increase in production volume. The taxifolin market is moderately capital intensive, where raw material procurement stands as one of the key operating costs. Research and development is another important area of investment in the taxifolin market.  Certification is essential for the processing and usage of taxifolin, which makes it tough to enter the taxifolin market. Taxifolin with Generally Recognized as Safe (GRAS) certification has high importance in the U.S. The procurement process of taxifolin also involves certain patented technologies that some of the companies have gained. The processors of taxifolin also focus on reducing the lead time for manufacturing with the involvement of latest technologies.

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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.